In 2021, running a token sale has become an exercise in turning away hundreds of thousands of potential network contributors — over 90% of token sale registrants have failed to win an allocation. Among the 90% are many people who could have helped token networks grow and succeed: validators, miners, stakers, liquidity providers, and more. This is a lost opportunity for token networks seeking to grow strong communities.
To address this, we’re rolling out a Priority Queue feature that allows token networks to give priority to their core group of contributors as well as to CoinList community members* who have demonstrated a long-term commitment to token networks.
How the Priority Queue works
The Priority Queue is an invite-only queue that is significantly shorter than the main token sale queue (in the low thousands compared to hundreds of thousands) and will run in parallel to the main queue. While Priority Queue invitees have a higher chance of securing an allocation, their allocation is not guaranteed.**
For CoinList community members, Priority Queue invites are based on a points system that we call "Karma" that recognizes value-add activities. The greater your contribution to token networks on CoinList, the more Karma you earn. Not all users receive an invite to the Priority Queue. At this time, we’re limiting invites to those with the highest levels of Karma so that the Priority Queue is less than 1% of the total number of sale registrations.
The tiers of Karma
Value-add activities fall into three tiers, with tier 1 yielding the most Karma, and tier 3 yielding the least.
- Tier 1 — You’ve participated in a validator/miner/grant program or a hackathon on CoinList.
- Tier 2 — You’ve participated in early CoinList token sales (prior to 2021), worklocks, lending programs, and staking.
- Tier 3 — You’ve traded on CoinList through CoinList.co, CoinList Pro, CoinList Mobile app, OTC, and WBTC conversion.
We’re just getting started with the Priority Queue. We’ll continue to improve it and add more features and rewards to Karma as we learn more about what works best for the token network teams and their sale participants.
*CoinList token sales are not available to residents of the United States, China, Canada residents, and certain other jurisdictions.
**Users who don’t complete their purchases before the deadline may have their purchases cancelled entirely and be banned from all future CoinList sales.
***CoinList determines and implements criteria in its sole discretion to evaluate contributions and assign Karma to users. CoinList does not undertake any obligation to disclose any deliberation or determination concerning any particular user.
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