Since we released our recent article “Time for a Great Change”, where we revealed the new Seedify.fund as a focused blockchain gaming only innovation hub, we received an overwhelmingly positive response from our community.
Communicating the problems with the old Seedify.fund transparently, and addressing the problem with a solution we believe in, unleashed a new aura, which brought us a renewed passion, and a realization that we are not alone in our feelings regarding blockchain gaming.
While pivoting into the new Seedify, as a focused, differentiated Blockchain Gaming Incubator & Launchpad, it is important to continue to evolve from our old ways. Change what didn’t work, adapt and evolve.
This first article is about the transformation in our tier system, which will be in tact from 1st of August.
The New Tier System
The next tier system of Seedify.fund proposes a 9 tier system that works according to “Pool Weight” system per wallet in each tier; rather than our old broken system where we were dividing the allocations in between 3 tiers regardless of how many wallets there were in each tier.
Pool weight system derives its power from mathematical formulas that creates a more fair model, with more incentives for those who want to get more allocations from gaming projects we will launch at our Launchpad.
Let us dive deeper into the new tier system so we can share the value propositions this new system provides, as well as what kind of changes it brings.
The pool weight system works through a spreadsheet and takes into account pool weights at its base. The lowest tier starts with 250 SFUNDs and 0.4 pool weight, increases to 1000 SFUND and 2 pool weight, and further continues with new tiers for 2.5k, 5k, 7.5k, 10k, 25k, 50k, and 100k SFUNDs. Increasing your tier to the next one above, increases your pool weight, but also gives some more bonus pool weight. So entering an IDO, for example with 2 separate 2.5k wallets, becomes disadvantageous compared to holding 5k in 1 wallet.
It creates a system where going higher on tiers becomes completely beneficial, and creates a system where it gives a chance for more and more people to go higher on tiers, through successful IDO results.
In this new tier system, there is also no lottery. Everyone gets a fair share according to their pool weight, with guaranteed allocation. The total pool weights of all wallets gets added together, and then with mathematical formulas on spreadsheet gives a fair distribution among all. If someone wants to get more allocations from an IDO, all they need to do is add more SFUNDs, this in turn gives bonus pool weights, however not so drastically that it creates an unfair distribution.
Also each person who increases their SFUND holdings, automatically increases the value of SFUNDs since SFUND is a token that is trading, so ultimately a person who gets more SFUNDs creates benefits for everyone else who is a holder.
While in 1st phase of each IDO everyone will have a guaranteed allocation, in the second rounds everyone gets to enter to FCFS phase with 1.5x more allocations.
While for IDOs there are 9 tiers, for private sales the tiers start from 10k SFUND bracket, so during private sales there can be higher allocation caps for the upper tiers as an extra incentive system.
Seed Club & Stronger Incubation
In order for VCs, angel investors, and high profile investors to seed fund the blockchain gaming projects that we incubate, the 100k tier also comes with a membership into our “Seed Club”.
The seed sale opportunities will be first coming to this tier, and if there is additional room, lower tiers may be invited. This tier also creates an additional benefit for all SFUND holders by enabling us to put forth additional know-how, connections, and ability to showcase much more stronger projects to the private sale, and IDO fundraising. As well as bringing the necessary initial funds that can be much higher compared to the seed funding mechanism we proposed in our initial whitepaper. The seed sale opportunities will come with extended lock periods and discounts to recuperate such locks, standard to seed rounds.
Our current system is created so not only it brings more incentives as you go up the tiers, but also unlocks more opportunities for Seedify.fund to unleash more successful blockchain gaming projects with more funding, which will in turn benefit everyone holding SFUNDs; in part through the allocations, and in another part through the free tokens that get distributed from incubated projects in addition to the exclusive seed, private sale, and IDO opportunities.
Below you can find an example spreadsheet where green fields are interchangeable fields, and where the other fields automatically changes according to the mathematical formulas which divides the allocations according to wallets in each bracket, token price, and total tokens allocated for the given fundraising round.
Note: you can make a copy of the spreadsheet and start to play with the numbers in green fields, to experiment with the new tier system.
The new tier system will be in tact starting from 1st of August. Once locked staking is live, the allocation methods will be replaced from the snapshot method we are currently using as well. In the next our article we will dive into the new features of Seedify Blockchain Gaming Incubator & Launchpad further.