Dear community,
We are pleased to see how the first iteration of the whitelist has been working so far. A few propositions have been made by you on how we can potentially improve it. So here is what we came up with.
Registration
One of the first updates we plan to implement is the registration procedure. We could see that some of the allocations were unused in the IDOs, so we would like to start distributing the allocations only among the registered users.
We consider the idea of transferring your aPADs to the IDO contract for the duration of the IDO, where they will be locked and released once the IDO has ended. Doing so would confirm your intent to participate in the IDO.
Last hour of the IDO and dynamic aPAD requirements
Moving on, some of you considered the last-hour allocation limit to be quite large. From the next IDO forward, we will cap the maximum transaction size at 5% of the total remaining allocation during the hour of the IDO. This will enable more users to participate.
Another feature we are considering implementing is the dynamic aPAD requirement. Previously we identified 1000 aPAD as a participation threshold. We would like for it to vary for different projects we onboard. We will determine the value by discussing it with our partners. So it may be lower or higher than 1000 aPADs, depending on the project.
Buy your allocation with PAD
Users will be able to purchase a certain percentage of the allocation with PADs. Our idea is to reserve some part of the IDO allocation to benefit PAD holders. So, if let’s say, a project offers us a $25,000 allocation, we will divide it between whitelist ($22,500) and PAD holders ($2,500).
50 users will be able to purchase $50 worth of allocation with PAD tokens. Mind that these numbers were chosen completely at random, to serve as a practical example. The PADs we collect will be donated to the staking pool.
SmartPad and games
Lastly, we have an idea of implementing some form of gamification within SmartPad, a feature independent of the IDOs.
Before the game starts, you will be able to lock a certain amount of aPADs in a game’s contract. They will serve as a multiplier to your score when the final calculations are made to determine the winners. The more you lock — the larger your score will be.
A game will then begin, and users will participate in different activities using PADs, gaining points if they complete them. These activities may include transferring PADs between different contracts, where only one of them is correct, or determining the specific sequence of correct transfers (this is just a concept, more details on that later).
In the end, a winner (or more winners, details are still being finalized) will be chosen based on their score. Winner(s) will be awarded 70% of the PADs collected in the game, while the remaining 30% will be allocated to the staking pool as rewards. The exact percentage is a subject for future changes. When the game ends, aPADs will be unlocked from the game’s contract.
Closing thoughts
Thank you for taking the time to read this article. Share with us your thoughts about the possible changes to the whitelist.
