Allocation PowerUP explained
PowerUps are a new feature never seen before on any launchpad.
In the blog, we briefly explain what a PowerUp is and why this feature makes good sense :)
We are excited that Cronos World is set to launch its first product in the ecosystem: The CrownPAD
CrownPAD is a multi-chain launchpad creating intrinsic growth frameworks for upcoming blockchain projects and making arrangements for them to host public token launch events in the form of IDOs.
Even though the market has been flooded with different launchpads since the advent of IDOs, CrownPAD is striving to bring something unique to the table that adds value.
One of the perennial discussions in launchpad communities is the choice between guaranteed allocation and a lottery allocation system. On the one hand, a guaranteed allocation ensures you a whitelist spot, but with a low ticket amount. A lottery allocation, on the other hand, would allow a bigger ticket size but does not assure you a spot.
Another very important point of contention in the launchpad ecosystem is the extent at which the greater community gets involved in the workings of the company.
Involving the community in active decision-making is indeed a very difficult job and most times, the community will not want to engage if there is no apparent financial reward or incentives attached to it. Even when there are rewards involved, the community is only engaged for the immediate reward and not for further involvement.
However, the Cronos World principle is geared towards creating an ecosystem where the community shapes its growth and creating a system where the active community members are compensated for their hard work. To actualize this dream and to also effectively tackle the problem of low ticket sizes, CrownPAD is introducing an allocation power-ups scheme.
What is allocation power-up?
The primary ethos of this scheme is to reward active community members for their hard work. Community members who take it upon themselves to work as unofficial ambassadors would be eligible for receiving this allocation power-up benefits.
Having a power-up implies that the investor’s allocated ticket size will be multiplied by a factor of 2,3 4 or 5, depending on the value they are adding to the brand.
We are proposing that in the near future, the power-ups be sold as NFTs. Investors who have received these power-ups can trade them in the open market. This is proposed because there are different types of players in the market. One person can put in the work to get the PowerUp but isn’t quite interested in investing, whereas another person is very keen on investing but don’t have the time to spend on campaigns. So, they just trade the PowerUp !
PowerUps are exclusive to each IDO and can’t be used for multiple IDOs. The validity of each PowerUp is per project and if unused, won’t be carried over to the next project IDO
In conclusion, the power-ups scheme by CrownPAD is a very important tool in establishing a credible relationship with the larger Cronos World community and it will work towards ensuring that they actively participate in CrownPAD’s events as well as in other products that are in the pipeline.
About Cronos World
Cronos-World is building a multi-utility platform for Cronos chain!
There are 3 products to begin with:
1) Launchpad → CROWN PAD
2) NFT Marketplace → CROWN NFT Marketplace
3) DEX- Aggregator → CROWN DEX
🔗 All 3 products will be powered by the same token $CROWN.
Join the journey, Explore Cronos World!!