InfinityPad Staking Guidelines and New Pool
Alright, $INFP community, let us breakdown the entire IDO whitelisting process once and final to improve our existing process.
Current process:
· People can stake or hold tokens to be eligible for IDOs
· Top 3 tiers are guaranteed allocation and whitelisted by default
· Top 3 tiers share 60% of the total allocation
· Rest tiers share 30–40% of the total allocation depending on the project and allocation size
· INFP tokens can be staked in one of the three pools we have as of today, 30/60/90 days.
· Every pool has its own cooling off period and maturity time
Issues with current approach:
· Top 3 tiers are whitelisted by default but we don’t know if they’ll participate or not
· Staking pools have issues such as people can’t stake more than once. That leads to unnecessary hassle to both INFP team and investors. Investors are forced to stake in three pools which is a headache for us when it comes to whitelisting. A lot of data compiling — which is not necessarily needed. This leads to delays and causes flood of questions in the community
· Three pools too complex to manage and results in not-so-good user experience
· Unstaking and cooling off period non-adjustable which leads to issues for migration to better contract
Solutions to all of the above issues
- Everyone who wants to participate in IDOs must stake INFP
- INFP will deploy a single pool for staking INFP tokens to participate in IDOs as well as to get rewards in INFP
- Staking pool will be used for whitelisting for all IDOs
- INFP will introduce a prematurity unstaking penalty rather than cooling off period. Users can unstake and restake anytime
- Unstaking penalty will be tied with duration of stake. Unstaking fee will be as below:
* 25% penalty if unstaked before 7 days after staking INFP
* 12.5% penalty if unstaked before 14 days after staking INFP
* 6% penalty if unstaked before 21 days after staking INFP
* 0% penalty if unstaked before 30 days after staking INFP
* +2% if unstaked on or after 31 days
- All penalty collected from pre-mature unstakers will be BURNED forever!
- Staking pool will have a 24% APY but it’s credited only on day 31.
- This will consolidate our three pools and will lead to better whitelisting process and a better user experience
- Any unsold allocation will be first open to INFP holders by tiers and then to public
Timelines:
- New staking pool deployment after internal audit and full testing by Jan 26th
- Both old and new pools may co-exist for 21 days (the longest cooling off period from old pools), if required
- INFP team will remove tokens from old pools and airdrop to each wallet respectively on 26th Jan, remove burn fee for 24 hours so that investors can stake tokens in the new pool by 27th Jan midnight.
So, in Feb we shall start with a new pool, better whitelisting process and an improved user experience J
Thank you again for your support! We are growing and continue improving.
Infinitypad ($INFP) official community
website: https://infinitypad.io/
Twitter: https://twitter.com/InfinityPad_io
Telegram Group: https://t.me/infinitypad
Telegram Channel: https://t.me/infinitypad_io
Contact: info@infinitypad.io