Introducing: Thorstarter Tiers
Thorstarter is excited to announce the release of Thorstarter Tiers in anticipation of our THORWallet IDO. Thorstarter Tiers have been designed with heavy input from our community, and we hope their implementation will lead to a smoother, more satisfactory Thorstarter IDO experience for future participants.
Why Thorstarter Tiers
To date, Thorstarter IDOs have been conducted in a single tier consisting of anyone who staked 100 XRUNE for 100 vXRUNE to create a profile in the Valhalla Venture DAO. If you’ve taken part, you will be familiar.
Today, we announce that our model is evolving. As we try to continually listen to our community and adjust our course accordingly, the feedback we’ve received so far on our model is that the use of a single Tier (owners of 100 vXRUNE) results in allocations that are unsatisfactory. For this reason, Thorstarter will be implementing a tiers system moving forward.
What Tiers Look Like
There will be five Thorstarter Tiers for our next sale, a model we will tweak and adjust to optimize performance and integrate community feedback.
NOTE: XRUNE must be staked in tiers to qualify. The staking page will be live on Nov 9th.
The tiers are:
Community Tier: Stakers of 100 or more vXRUNE —Eligible for participation in FCFS sale
Tier 1: Stakers of 2,500 XRUNE —Receives 1x Allocation Multiplier
Tier 2: Stakers of 7,500 XRUNE —Receives 1.5x Allocation Multiplier
Tier 3: Stakers of 25,000 XRUNE —Receives 5x Allocation Multiplier
Tier 4: Stakers of 150,000 XRUNE —Receives 10x Allocation Multiplier
How Tiers Will Work
Take the example of THORWallet’s upcoming $TGT IDO on Thorstarter. The sale will have two components, Phase 1, and Phase 2.
Phase 1 — The Phase 1 sale will involve 90% of available $TGT tokens and be available to members of Tier 1, 2, 3, and 4. Participants will get allocations based on XRUNE committed which determines their tier allocation multiplier.
Phase 2 — FCFS. This first come first serve sale will be for the 10% of remaining $TGT tokens and any tokens leftover from the 90% allocated to Phase 1. All holders of 100 or more vXRUNE, which we call the Community Tier will be eligible for this sale and it will function the same as all past Thorstarter IDOs.
TGT Sale-Specific Optimizations ($TGT)
In anticipation of high demand, THORWallet has
5X’d the size of their $TGT token sale on Thorstarter. If historically the problem has been too many people with equal access to too few tokens, increasing the raise size increases the probability that everyone gets the allocation they hope for.
Implemented their own three-level community incentive system, an NFT set called “The THORWallet Army” to boost participation and reward XRUNE and TGT holders. Reward levels are marked by three NFTs
Soldier — for holders of 1000 XRUNE or TGT
General — holders of 500k TGT
Commander — holders of 5M TGT
This initial NFT series plays into the broader vision THORWallet has for their community, which you can read more about here.
Thorstarter Tiers TLDR
Thorstarter now offers tiers based on XRUNE ownership that increase your allocation size according to a tier allocation multiple. The tiers are as follows:
Community Tier: Stakers of 100 or more vXRUNE — Eligible for participation in FCFS sale
Tier 1: Stakers of 2,500 XRUNE — Receives 1x Allocation Multiplier
Tier 2: Stakers of 7,500 XRUNE — Receives 1.5x Allocation Multiplier
Tier 3: Stakers of 25,000 XRUNE — Receives 5x Allocation Multiplier
Tier 4: Stakers of 150,000 XRUNE — Receives 10x Allocation Multiplier
The first Thorstarter sale to implement tiers will be the THORWallet $TGT sale coming in mid November
90% of $TGT tokens will be allocated to the tiers sale, with any remaining tokens as well as 10% of the allocation dedicated to a community First Come First Serve (FCFS) sale.
What’s Next for vXRUNE
Given the community feedback regarding gas fees associated with vXRUNE minting, updating, and general DAO membership rewards, we will be overhauling the mechanics of vXRUNE in preparation for the release of the Valhalla DAO. An announcement will be made soon regarding the new mechanics of vXRUNE.
If you have questions or feedback join the conversation in our Forum Discord, or Telegram.
We look forward to a bright future and many successful IDOs to come.
Onward!
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