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The new Priority Queue aims to rewards network contributors like validators, stakers, miners, liquidity providers, and others by assigning them Karma points.
Over the last few months, the CoinList platform has been a go-to destination for crypto projects to launch their tokens. However, based on its experience, CoinList finds that token sales are turning away several potential network contributors.
This includes validators, stakers, miners, liquidity providers, and more. CoinList notes that over 90% of token sale registrants have failed to win an allocation. However, to address this very issue, CoinList has released a new Priority Queue feature that allows token networks to give priority to the core group of contributors. As CoinList explains:
The Priority Queue is an invite-only queue that is significantly shorter than the main token sale queue (in the low thousands compared to hundreds of thousands) and will run in parallel to the main queue.
Besides, the Priority Queue invites on CoinList will depend on a points system dubbed “Karma”. The users will get Karma points based on their value-added activities on the platform. The greater the contribution, the more Karma the users earn.
CoinList is planning to keep the Priority Queue to less than 1% of the total sale registrations. It has identified three different tiers to assert Karma points to users.
- Tier 1: Users who have participated in a validator/miner/grant program or a hackathon on CoinList.
- Tier 2: Users who have participated in early CoinList token sales (prior to 2021), worklocks, lending programs, and staking.
- Tier 3: Users who have traded on CoinList through CoinList.co, CoinList Pro, CoinList Mobile app, OTC, and WBTC conversion.
CoinList noted that it will continue to improve the Priority Queue feature going further. With time, it will add more rewards to Karma.
CoinList Token Sales: Karma
The CoinList platform has contributed by supporting some key crypto projects like Filecoin, Blockstack, Solana, and more. As said, to reward the early adopters, developers, and evangelists, CoinList has introduced this new Karma feature. As CoinList explains:
Your CoinList Karma is a reflection of your contribution to token networks on CoinList. The greater your contribution through value-add activities, the higher your Karma. Logged-in CoinList users can find their score – and learn how to increase it – on the Karma page, linked from your dashboard.
With time, users can accumulate their Karma by contributing more to the network.