TrustSwap

Sep 16, 2020

5 min read

TrustSwap Launchpad Updates: Introducing NFT Pre-Sale Tickets, “Allocation Mining”, and New Bounty Bonus + AMA #4!

AMA #4

Launchpad Updates

As this is an incredibly new system, it was always intended to be a “phase one” design. Now, after multiple rounds of community feedback, we have decided on a model that we will be building out and rolling forward with in the very near-term future: Launchpad Allocation Mining.

To start off, and frame context, the SwapDrops (Airdrops) will still use the normal DASH system for rewarding holders. That stays 100% the same. Easy.

However, for Allocation Mining, the new terminology for ease of distinguishing is “SwapScore”. Your SwapScore is calculated by your Daily Average Swap Staked in a 60-day window. Only SWAP that has been staked makes you eligible for the launchpad allocations, and rather than using a “since the inception” measurement, it will be calculated based on the most recent 60 days. This allows new participants to raise their score rapidly enough to get in on upcoming launchpad projects that catch their eye.

Okay easy, so SwapScore is pretty much the same as DASH, but just for the staking portal. Makes sense. So who gets into the launchpad? What is the selection process?

This is where it starts to get fun.

Each upcoming Launchpad project will have a draw to enter, similar to how cryptocurrency miners are in a “draw” to receive block rewards, where the odds of success are directly proportional to the resources allocated.

Every time a project is going to launch on the TrustSwap Launchpad, tickets will be issued at a rate of 1:1 based on the SwapScore of the Stakers at a specified date. For example, if you have a SwapScore of 1,423 as of the specified date for a specific launchpad project, you will receive 1,423 tickets. If one of your tickets is selected, you will be eligible for an allocation.

And here is where I really start to love the system:

What happens if more than one of your tickets is selected?
Each ticket is a transferable NFT, so you will be able to sell as many of your winning tickets as you want.
Inversely, if you did not win, and really want to get in on the allocation, you will be able to purchase a ticket from the open marketplace. Initially, we will be using Opensea.io for the transfer of these NFT tickets.

What if I don’t want my entry tickets, want to save them for another launchpad project, or want to get more to increase my odds?
You’re in luck! Both winning tickets and entry tickets are fully transferable. For example, if you are not interested in the launchpad projects and would rather earn some guaranteed ETH or SWAP, you can sell those entry tickets at your discretion. You can also save your entry tickets so that you can increase your odds by “stacking up” to be able to use way more tickets on a single Launchpad project you are particularly interested in.

How do we know the draws are fair?
The draws will be provably fair via the blockchain.

So can I have multiple wallets staking?
Multiple wallets are allowed, although it won’t make a difference as the ratio is always 1:1. In addition, it is always only one allocation per person. So regardless of which wallet you got your extra winning tickets from, you’ll be able to resell them regardless.

Will this be the system used for Mobiepay?
No, Mobiepay will still use the DASH model as we are currently building this model out. We will continue to use the DASH model until this is fully built. If you’ve seen how fast we work, you know that should not be too long at all.

Do I manually claim and enter my tickets for each Launchpad draw?
Yep! Because you have the option to use, sell, buy or hold your tickets, we simply hold your tickets for you until you are ready to decide what to do with them. If you forget to enter or claim, no worries! Your records are stored and your tickets will be “held” until you are ready to claim.

This system ensures a proportionately fair opportunity for all SWAP holders, while introducing SWAP staking as the foundational aspect to a second layer token ecosystem built on top of TrustSwap. Remember, only 50,000,000 SWAP are able to be staked (50% of the supply). This means that staking itself will become an incredibly sought-after position. Setting this max cap also helps with the value economics of the entry tickets and winning tickets. Once there is a lineup to get into the staking portal, this Launchpad ecosystem is going to be incredibly sought-after.

Staking now ensures your position for earning entry tickets and being able to re-sell those when they become an incredibly scarce commodity due to demand.

Is it possible that someone attempts to corner the allocation market by staking a substantial amount and/or purchasing a multitude of entry tickets and/or winning tickets?

Yes, and those are the economics that incentivize the early participants such as yourselves to stake before that dynamic potentially plays out. Notably, when you zoom out, someone attempting to corner the market is actually a huge net positive for the ecosystem and holders alike.

*Disclaimer: US Citizens are not eligible to enter the staking portal.

Bonus: Bounty Programs

  1. Every time someone refers a project or person to use our software, as long as the service fee is over 250 SWAP, the person referring will earn 250 SWAP themselves.
  2. Whenever you scout a project, that then makes it onto the TrustSwap launchpad, the referral fee will be 1,000 SWAP

More details will follow on the bounty program in the coming days.
No need for a flurry of questions at this time ;)

It’s time for the TrustSwap ecosystem and staking rewards to explode.