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Priority Queue for CoinList Token Sales Revealed

UTC by Kofi Ansah · 3 min read
Priority Queue for CoinList Token Sales Revealed
Photo: Unsplash

According to CoinList, the Priority Queue is a scheme that seeks to reward validators, stakers, miners and other registrants, and other people who could have helped with the growth and success of the token.

The Priority Queue for CoinList imminent token sales has been revealed by the company. The Priority Queue is an invite-only queue that consists of invitees with a higher chance of securing an allocation over the normal or regular invitees, even though allocation is not automatically guaranteed. The Priority Queue will also be significantly shorter than that of the main token sale queue (which reportedly will be hundreds of thousands) and will run in parallel to the main queue

According to CoinList, the Priority Queue is a scheme that seeks to reward validators, stakers, miners and other registrants, and other people who could have helped with the growth and success of the token. Most of these people are normally turned away in a token sale by missing out on an allocation. “This is a lost opportunity for token networks seeking to grow strong communities,” CoinList stated in an official statement on their website.

“To address this, we’re rolling out a Priority Queue feature that allows token networks to give priority to their core group of contributors as well as to CoinList community members, who have demonstrated a long-term commitment to token networks,” the statement reads.

According to CoinList, the Priority Queue invites for CoinList community members are based on a points system that recognizes value-add activities. The greater your contributions are to token networks on CoinList, the more points you earn. However, not all users will receive an invite to the Queue. “At this time, we’re limiting invites to those with the most points so that the Priority Queue is less than 1% of the total number of sale registrations,” the statement said.

According to CoinList, their Value-add activities fall into three categories or tiers, with Tier 1 weighing the most points, while tier 3 yields the least. To be in the Tier 1 class, an invitee would have to have participated in a validator/miner/grant program or a hackathon on CoinList.

Tier 2 users would have to have participated in early CoinList token sales (before 2021), worklocks, lending programs, and staking whiles Tier 3 consists of users that have traded on CoinList through CoinList.co, CoinList Pro, CoinList Mobile app, OTC, and WBTC conversion.

CoinList added that they will continue to improve on the Priority Queue and plans to add more features to the points system as time goes on as the firm will get to learn about what works best for the token network teams and their sale participants.

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Kofi Ansah
Author Kofi Ansah

Crypto fanatic, writer and researcher. Thinks that Blockchain is second to a digital camera on the list of greatest inventions.

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