Ignition Lottery Tier System: How does Ignition select lottery winners?
PAID Ignition operates using a lottery system. Each lottery ticket represents one entry into the public sale lottery.
In order to qualify for a lottery ticket, one must hold 1,000 or more PAID tokens in their Metamask ERC-20 wallet, from the time of whitelisting up to the time of the IDO.
Lottery entrants are separated into three different tiers, depending on the number of tokens held in their wallet. All lottery tickets carry equal weight in the selection process. Winners will be chosen at random from the pool of tickets, the same as with a conventional lottery. When a winner is selected, they will receive a golden ticket.
Please read further to learn the details of each tier.
If you have over 1,000 PAID tokens, you are eligible for the Moon tier. Every 1,000 PAID tokens gives you a lottery ticket.
If you hold 1000 or more PAID tokens in your wallet, you are eligible for the Moon tier. For every 1,000 tokens you hold in your wallet, you will receive one lottery ticket. Moon tier applies to PAID token holders who have between 1,000-74,000 tokens in their wallet at the time of whitelisting. For those holding 75,000 tokens or more, other benefits are offered in addition to Moon Tier.
Please note that if you are a Moon Tier participant and are submitting multiple wallet addresses into the lottery, each address will need to connect to the Ignition platform and transact individually, based on the number of lottery tickets won.
If the sum total of all the PAID tokens in your wallets is 75,000 or above, you are eligible for the Galaxy Tier. This gives you one guaranteed allocation in the public sale of an IDO project. For every 75,000 PAID tokens you have, you will receive one guaranteed allocation.
In addition, you will also receive lottery tickets according to the Moon Tier rules, one lottery ticket for each 1,000 tokens.. Let’s use an example here to illustrate:
You are a PAID token holder with 75,000 tokens. You qualify for Galaxy Tier, and receive one guaranteed allocation in the public sale. In addition, you will also receive 75 lottery tickets to enter into the lottery, one ticket for every 1,000 PAID tokens you have in your wallet. In summary you will have:
-1 Galaxy Tier guaranteed allocation
-75 lottery tickets in Moon Tier, all with a chance to win.
If you have over 150,000 PAID tokens, you are eligible for the Cosmos tier. This gives you guaranteed allocation in private sale, if it is available for a project. Note not all projects are offering private sale allocation.
Lottery Ticket FAQS
Q: What happens when allocation in a pool is unfilled in Cosmos or Galaxy tiers?
In the event that Galaxy or Cosmos holders do not claim their guaranteed allocation offered in the public sale, the unclaimed allocation will be deposited into the Moon Tier pool, available to win by Moon Tier lottery ticket holders.
Q: What if I have tokens in multiple wallets?
If you have tokens in multiple wallets, there is no issue with Moon Tier. You can have as many wallets as you want, as long as they each have at least 1,000 PAID tokens in that wallet, in order to receive one lottery ticket. Keep in mind that “leftover tokens” in a wallet cannot be combined to make another 1,000, if they are spread across multiple wallets. For example, if you had 1400 tokens in one wallet, and 1600 tokens in another wallet, you would only receive one lottery ticket for each wallet. The 400 and 600 tokens left in each wallet will not add together to make 1000, giving you a third lottery ticket.
Q: What if I have my PAID tokens staked, will the tokens count towards my tier eligibility?
At present, staked tokens do not count toward tier eligibility. Your tokens must be in an unhosted ERC20 Metamask wallet to be eligible.