Astronaut Tier Update
Strategic Discussion: Whitelist or Staking?
We have released tier levels yesterday and have listened to the communities feedback. We do not want to delay the updates (which we received through our community feedback) and have decided to make the changes before it becomes chaotic.
Many in the community were concerned that the “snapshot” or “whitelist” system is the reason all of the other launchpad platforms dump so hard after every IDO, and we agreed. We need to use our burn and redistribution token to our full advantage as we have the upper hand on other platforms. Our devs are in middle of making the changes to these new updates as we speak.
What are the disadvantages of tiering through a snapshot or whitelist?
- Whales can buy into the top tier, then sell out of the tier right after each IDO, causing a large dump to our price.
- People whitelisting are not so “committed” to invest in the IDO’s this will cause us to have pools that are heavily under subscribed (its already a fact that we can’t oversubscribe but having a 30% subscription would look very bad)
- Price dumps occur even on the low level after IDO’s and burn / distribution doesn't benefit the holders who rather just invest in $NAUT as much, we become a platform that just caters to IDO’s and not at all to ourselves.
- It would be very hard to make a system where a holder who is in the galaxy tier wants to just get a small allocation from the moon tier, but he is whitelisted into galaxy because of his holdings. He then ends up filling his allocation only 20% again causing an undersubscription to the IDO’s
So what are the updates? We have decided to make it a “staking” system. Users have to stake their $NAUT tokens into the correct IDO pool. We will now discuss the advantages of this staking process which adds even more advantages:
- Participants who stake their IDO’s lose 8% total through staking then un-staking, this helps control the amount of dumps we have after IDO’s. Users won’t just sell out and say well rebuy at a later time when the next IDO comes out because then they lose another 8%.
- Distribution of tokens and burn is heavily sped up. Giving holders of $NAUT who just want to invest in the platform a reason to stay with us. This also gives reason for new investors to buy $NAUT
- Participants of the IDO’s will be committed to buy into the IDO’s if they have “ate the fee” or burned their tokens, this will better allow us to have data on the amount of subscription we will have.
- $NAUT holders can choose the tier they want to get into. A large holder of 100,000 NAUT tokens can choose to get into the lowest tier and just grab a small allocation
- Let's not forget the burn and distribution is relative to everyone! It works by holdings, so the larger your holdings the more you receive when the token burns and redistributes.
- This allows us to lock the tokens for the duration of the IDO’s controlling the platform more and giving you a simple process of how to get access to the pools without room for error.
What changes have been done? We have changed the tier levels around a tiny bit. (we want to apologize for this but its better done sooner than latter). We have brought down the top tier levels to not “punish” (through the burn) the participants who want to get large allocations too much. This also allows you to get a heavier pool weight compared to others if they are not willing to have the fee through the burn and redistribution mechanism.
The new tier levels are as follows:
- Moon - 500
- Mars - 1500
- Star - 2500
- Galaxy - 5000
- Black Hole- Unreleased
Note: Remaining in the staking tier will allow you to qualify for later IDO’s, but you do not receive the redistribution going on in between.
We really hope this update did not hurt anybody too badly and ask that you think together with the Astronaut team and community about its strategic benefits. This update is proof we are community driven and listen to feedback from everyone and anyone.
If you have any questions please come into one of our social media channels and get assistance. Astronaut to the moon!
