SXS tiers
If you want the chance to invest in high potential projects, before they hit the market, then you need to hold SXS.
Holding SXS and being in our tier system will significantly increase your chances of being whitelisted and it will boost the guaranteed IDO allocation that you can buy.
If you hold SXS at tier level, you will also get increased staking rewards and voting rights.
Tiers
Let’s start with the SXS tiers we have in place:
Benefits
We have structured tier holders’ benefits to deliver on four core areas: whitelist access, IDO allocation increase, staking rewards and having a say on the future of Sphere.
Now lets go into these four areas in a little more depth.
Whitelist place access
Competition to join IDOs of high potential projects is often very high and everyone who wants to join an IDO on our platform will need to apply for the relevant whitelist.
However, SXS tier holders will have a far higher chance of being whitelisted, with our top tier holders being given a guaranteed whitelist place, should they want it.
We will still have an open public whitelist call out, but allocation for this will be taken from the allocations that have not been filled via the tiers. This means the allocated whitelist places to the public will be significantly reduced and therefore the chance of winning a place will be far lower.
Please review the graphic in the tiers section above, to see the whitelist place allocation breakdown for each tier.
Enhanced guaranteed allocation
IDOs on our platform are structured in a two phase approach, with both phases being 12 hours.
The first phase is where whitelist winners have a guaranteed allocation of a project’s tokens set aside for them at IDO price, this allocation is normally in the $75 to $125 range. The second phase is first come first serve, where whitelist winners have the chance to buy any remaining IDO allocation.
From past IDOs we know that the second phase sells out very quickly, in the last two IDOs we have run, the second phase in both sold out in under 10 seconds.
One of the core tier benefits will be an increased guaranteed allocation for all tier holders who are whitelisted for an IDO. All tier holders will get between 2x to 10x higher guaranteed IDO allocation, when compared to public whitelist place winners. The higher the tier you are in, the higher your guaranteed allocation.
Higher staking rewards
Staking your SXS will not only unlock your IDO benefits. If you are a tier holder, you will also get higher rewards in any of our staking pools that you join.
Our staking pools will be structured in a way that provides for short, medium and long term holders and for each pool, tier holders will get a higher percentage of SXS reward. The reward will also be higher depending on the SXS tier you hold.
Voting rights
We often ask our community for their input on key decisions and future direction. This has always been done in an informal manner.
Moving forward, we will be formalizing this process, whereby tier holders only will be able to vote on key decisions. All tier holders will get an equal vote and all votes will be done via our official site.
We will be putting in place an SXS reward for all tier holders who take part in votes.
* To access your SXS tier benefits, you will need to stake your SXS via one of our official staking pools. These will be going live soon. Should an IDO take place before staking goes live, the team will cross check SXS holders and whitelist applicants, ensuring no one misses out and everyone gets their relevant tier benefits.
Projects
In Q1 and Q2 of this year, we reviewed the way we select projects to IDO with us. This review resulted in a dramatic change in this area, with a huge amount more emphasis now put on due diligence.
Sphere is now a leader in this space within launchpads. Our enhanced due diligence process is similar to a full project audit. We will review everything from the team to the tokenomics and community, and the dev work to the project feasibility and market viability.
It is a massive undertaking for us and also the projects that want to IDO with us. However, we strongly feel that this is the best way to bring truly quality projects to our community.
Buying SXS
You can buy and trade SXS here:
Refunds and Risks
All IDOs on our platform have to adhere to our strict refund policy, full details on this can be found here. This policy provides a safety net for all IDO investors for the important 24 hours post launch.
Although we have increased the effort we put on due diligence significantly, you should never feel this replaces your own due diligence. If you are investing in any project, be that with us or any other launchpad, it is of utmost importance that you do your own due diligence and you only invest when you feel comfortable. Please review the article we put together on risk here.
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Continuing the Dialogue
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