Tier system based on engagement for Thorstarter

Usually, tier systems in projects like Thorstarter are based on the depth of your wallet, where much money earns you more money. While we do see tier systems being beneficial for a project as it’s incentivising you staying true to it, we do think it’s inherently unfair to solely base it upon your already acquired wealth, or lack thereof. Especially as we believe there is another way that creates more value to the project.

What we believe is that anyone can be a contributor to the Thorstarter universe and that we should encourage you being one. Whether you’re a humpback already cruising the vast oceans, or a guppy still aspiring to leave the pond, should not by itself determine your participation in the IDOs. If you’re a true supporter of Thorstarter, part of providing the most valuable of things for the project, its longevity, we believe that should help you on your way participating in the IDOs it provides. For this, we suggest implementing a tier system rewarding your level of engagement in the Thorstarter universe.

The high-level idea:

We would like for you to earn Thorstarter tier credits for each service you provide to the project, and the longer or more consistently you are providing said service - the more credits you earn. These credits, when added together, earn you a tier level.

Some examples of services we imagine earning you tier credits are (in no order): being a DAO member; being a liquidity provider in one or multiple Thorstarter liquidity pool(s); voting on proposals and providing proposals (with some ratio positive votes, we don’t need shit posts).

The general rewards idea we are proposing is having a portion of the gas fees of entering and exiting the IDO reimbursed to you. The higher the tier level, the higher this portion would be. This, we believe, would make the participation hurdle lower for many people and a welcomed bonus if you already were planning of participating.

We suggest the claiming of rewards being paid by the user and NOT by Thorstarter for two reasons. The total gas cost (read: waste of money!) would be held to a minimum and you would be incentivised to stay for the long game as the return ration increases the more money you can collect in one transaction.

The benefit for Thorstarter with this system would be plenty.

You are incentivised participating in the IDO which
- Creates buy pressure for the TKN which
- Increases the interest from other projects looking at using Thorstarter as platform which
- Increases the value of XRUNE

You are incentivised becoming and/or staying liquidity provider which
-Increases liquidity in liquidity pools and limits slip on transactions
- Supports a broad-based liquidity pool, less dependent on a few larger wallets which supports
stability and limits risk

You are incentivised staying a DAO member which
- Increases engagement and
- Supports a broad-based DAO, less influenced by a few larger wallets, I.e., democracy

You are incentivised voting on proposals which
- Increases engagement and
- Supports a broad-based decision-making process, I.e., democracy

You are incentivised making proposals which
- Increases engagement


By voting Yes to this proposal you vote in favour of the concept of having an engagement-based tier system.

By voting No to this proposal you are voting against having an engagement-based tier system.

What actions should earn you Thorstarter tier credits, how many credits each action should earn you, how the level of credits earned would change over time (e.g. staying LP for long), which tier levels should be available and what should be the rewards at each level will be handled in a potential consecutive post. That is NOT what you are voting on in this post.

Note also that we are NOT suggesting a system where you are entitled to cut in line or getting a larger pool size in a capped IDO due to your tier level. That, we believe, would potentially create a barrier between established members of the Thorstarter community and new ones, which is nothing we would like to support.

Further what we suggest is for the Discord account to be linked to your tier position for the simple reason that we would like to make it harder to create multiple instances in this system to gain undue benefits and we believe verification via Discord could provide remedy.

Yours truly / DexThor & Thornor

  • Yes, I like it
  • No, I do not like it

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Thanks for sharing this, heads up this is being taken into account in the upcoming changes to IDOs (on Eth specifically).