By
Bhushan Akolkar
April 23rd, 2024
Those eligible for this feature are users who purchase the maximum allocation in the sale.
CoinList, a platform that connects blue-chip crypto projects to new token holders, has announced that it is introducing a new feature that enables token buyers to request additional tokens for purchase during community sales events. The idea behind this initiative of CoinList is to increase the maximum purchase amount during community sales, and also provide a smooth path to assist projects to fulfill excess tokens available after community sales.
“Users that believe in the project benefit from a greater number of tokens. Projects benefit by backfilling any unmet demand with a high-quality community of token holders. Additional allocation requests allow us to make sure no tokens go unallocated,” wrote CoinList.
Users eligible for this feature would see the option to request additional allocation on the status page. Upon clicking, a section would appear for them to input the number of tokens interested in receiving. After this, they will then see the original purchase and the additional allocation request from the status page. The system has been designed so that if there are unallocated tokens available after sales, the additional allocation request will be randomly converted.
“If you receive an additional allocation, it will be shown under the investments sidebar. Please note that the granted amount may be less than the amount you requested in the case there are insufficient tokens remaining to fully cover the request,” according to the blog post.
On the reason for this feature, the company explained that the community sales on the platform include a cap on the number of tokens available for purchase. This is said to be between $500 and $1,000. Due to some factors, some community sales get a small percentage of the token allocation unfilled at the end.
Those eligible for this feature are users who purchase the maximum allocation in the sale. During the sale period, users are advised to fund their wallets with the intended payment method to stand a chance of receiving the allocation. Also, the additional allocation request payment must be made in either USDC or USDT. The announcement did not mention non-stablecoins like Polkadot.
It is, however, important to note that the approval of every request is not guaranteed.
“If there is an additional allocation available, it will be assigned at random to users who purchased the maximum allocation once the sale is fully closed,” said CoinList.