People can participate in two ways; as guest or as members, the participation type determines the allocation the user receives. Guest participants receives the lowest allocation and it is not guaranteed while member participants receives a guaranteed allocation with ranging size depending on membership level or tier.
The different requirements for each participation type and membership levels will be discussed here.
As shown in the chart below, users can participates either as a guest or as a member. The requirements for each participation type is as follows:
A user who is not a member (not staking 0xPAD token or 0xPAD LP tokens) can still participate in IDOs as a guest. To participate as a guest, the following requirements need to be met:
- 1.Guest participants must whitelist their address in order to participate. It is recommended that a guest participant get his/her address whitelisted early, typically 48hrs before the IDO starts.
- 2.Whitelisted wallet need to hold 0xPAD tokens, the IDO allocation received by a whitelisted address is proportionate to the amount of tokens held. For example, if a whitelisted wallet holds 0 tokens during the IDO, such an address will have 0 allocation.
- 3.Additional steps may be needed during whitelisting. For example, a guest participant may be required to like and retweet certain posts during whitelisting.
Note: Guest participation allocation is not guaranteed.
A user who stakes his/her 0xPAD tokens or stake LP tokens of 0xPAD automatically becomes a member. A member enjoys so many benefits such as guaranteed IDO allocation, early access, staking/yield farming rewards, voting rights and access to the incubator feature.
There are four different categories or tiers of membership, these are discussed in the order of lowest to highest tier as follows:
- 1.Bronze Membership: To become a Bronze member, a user needs to stake 0xPAD token in the Bronze staking vault. Bronze membership is the lowest membership type or tier. Members of this tier enjoy a guaranteed allocation in IDOs and the allocation is higher than guests allocation. In addition, Bronze members enjoy staking rewards, have voting rights and also have access to the incubator feature.
- 2.Silver Membership: To become a Silver member, a user needs to stake 0xPAD token in the Silver staking vault. Silver membership is a tier higher than bronze membership and members of this tier enjoy a guaranteed allocation in IDOs, and their allocation is higher than the Bronze allocation. Similarly, Silver members enjoy staking rewards, have voting rights and also have access to the incubator feature.
- 3.Gold Membership: Stakers of 0xPAD tokens in the Gold Vault are Gold members. Gold membership is a tier higher than Silver membership and members of this tier enjoy a guaranteed allocation in IDOs, and their allocation is higher than the Silver allocation. Similarly, Gold members enjoy staking rewards, have voting rights and also have access to the incubator feature.
- 4.Platinum Membership: There are two was of becoming a Platinum member, either by staking 0xPAD tokens in the Platinum staking vault or by staking 0xPAD's LP tokens in the 0xMine Vault. This is the highest membership or tier level and members of this tier get the highest guaranteed allocation in IDOs, they also enjoy the highest staking/liquidity mining rewards, they have voting rights with the highest voting weight and also have the most access to the incubator feature.