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Announcement of GameFi.org Launchpad Ranking System

PNT

PNT

Sep 16, 20214 min read

Announcement of GameFi.org Launchpad Ranking System

Following the $GAFI IGO and the official launch of the GameFi Launchpad on September 10, we would like to announce the GameFi ecosystem’s ranking system and policy in preparation for the GameFi Launchpad’s upcoming IGOs.

This policy will take effect from 3:00 PM UTC on September 16, 2021, and will remain in effect until a new policy is implemented.

1. The Ranking System

The GameFi ecosystem’s ranking system is divided into four tiers based on the $GAFI staking amount: Legend, Pro, Elite, and Rookie.

Depending on the rank, the GameFi ecosystem will have varying benefits and requirements. As GameFi has only recently launched the GameFi Launchpad, we will focus on the benefits of each rank in the IGOst in this article. In the future, as new functions of the GameFi ecosystem are launched, the benefits associated with each rank will be added.

1.1. Rookie

  • Stake at least 20 $GAFI on GameFi to get this rank;
  • Have the right to apply whitelist and join IGO pools on GameFi Launchpad;
  • Get IGO token allocation in the form of a lottery;
  • Every 20 $GAFI staked will be counted as one lottery ticket;
  • Maximum individual allocation: $60;
  • $GAFI withdrawal delay: 5 days

1.2. Elite

  • Stake at least 100 $GAFI on GameFi to get this rank;
  • Have the right to apply whitelist and join IGO pools on GameFi Launchpad;
  • Get IGO token allocation in the form of a lottery;
  • Every 20 $GAFI staked will be counted as one lottery ticket;
  • Maximum individual allocation: $300;
  • $GAFI withdrawal delay: 8 days.

1.3. Pro

  • Stake at least 500 $GAFI on GameFi to get this rank;
  • Have the right to apply whitelist and join IGO pools on GameFi Launchpad;
  • Get IGO token allocation in the form of a lottery;
  • Every 20 $GAFI staked will be counted as one lottery ticket;
  • Maximum individual allocation: $700;
  • $GAFI withdrawal delay: 12 days.

1.4. Legend

  • Only 12 slots;
  • GameFi members need to own GameFi Legendary NFT to achieve this rank;
  • The 1st generation of GameFi Legendary NFT can only be obtained through auction;
  • If the number of Legends falls below 12, GameFi will continue to hold auctions for available slots.
  • Have the right to apply whitelist and join IGO pools on GameFi Launchpad;
  • Have the right to join exclusive pools only for Legends (subject to availability);
  • Guaranteed IGO token allocation when registering to join the whitelist;
  • The token allocation for Legends accounts for 20% of an IGO pool;
  • The Legend pool’s IGO tokens will be distributed to Legend members according to the amount of GAFI staked, from highest to lowest. Accordingly, the person in the higher position in the pool will receive an additional 5% of token allocation than the person in place right after.
  • $GAFI withdrawal delay: 30 days
  • Defection: If a Legend unstakes $GAFI, they will be demoted to Pro rank with a 30-day withdrawal period no matter how much $GAFI they unstake.
  • Dismission: Once a month, GameFi will re-auction the GameFi Legendary NFT of two Legends currently ranked 11th and 12th in the pool. If they do not win the auction, they will be demoted to Pro rank.
  • If multiple Legends stake the same amount of $GAFI, the Legend who fully staked this total amount of $GAFI first will have a higher position in the pool.

1.5. Example for Legend pool

There is an IGO pool that is worth $150K. Allocation for Legend pool = $30K

  • Allocation for the 1st Legend = 30,000*(-0.05)/((1–0.05)¹²-1) = $3,263
  • Allocation for the 2nd Legend = 3,263 * (1-0.05)= $3,100
  • Allocation for the 3rd Legend = $3,100 * (1-0.05) = $2,945
  • Allocation for the 11th Legend = $1,954
  • Allocation for the 12th Legend = $1,856

2. Snapshot time

  • When a pool ceases to accept whitelist registrations, the GameFi system uses the snapshot method to determine each member’s ranking and token allocation.
  • Whitelisted members must maintain a ranking equal to or greater than the one defined at the time of the snapshot until the pool’s sale concludes. Any drop in ranking during this period will result in ineligibility for the pool.
  • Following the snapshot, users can continue to stake $GAFI to improve their position in the following pools. The new ranking applies only to pools that have not yet taken a snapshot.

3. Things to notice

  • To join the IGO pools, GameFi members must achieve at least Rookie rank and complete KYC. These are optional for Community pools.
  • Individual allocations will be determined following the total amount of tokens allocated to each IGO pool.
  • The withdrawal delay is the time required to receive the tokens in your wallet after unstaking them from the pool.
  • The ranking system and associated benefits and requirements will be reviewed and updated monthly.
  • The $GAFI staking pools and the auction of GameFi Legendary NFT will begin on September 16. When this event takes place, we will release an official announcement with detailed instructions.

About GameFi.org

GameFi.org is an all-in-one discovery hub for games and metaverses. We aim to build digital communities and manage virtual economies for mainstream adoption. GameFi.org offers a suite of solutions covering the entire games and gamified projects lifecycle, following a vision of one digital platform, one virtual identity requiring zero blockchain knowledge. Visit https://gamefi.org/ for more information.

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