Cofound.it Priority Pass™: Lessons learned and rewarding loyalty in future crowdsales
The first two crowdsales that used the evolved Cofound.it Priority Pass™ are now behind us. As promised, we would now like to share with you what we learned during these two crowdsales and what changes we are making to reward Priority Pass loyalty and engagement.
The evolution of the Cofound.it Priority Pass™ that we announced after the Santiment crowdsale met the goals we wanted to achieve: a wider distribution of supporters and better access to the pre-sale phase of the crowdsale.
However, new challenges arose:especially engaged supporters had to resort to tricks to raise their individual contribution limit in the pre-sale, traders could buy CFI just before the priority check block, then sell their tokens immediately after, causing price volatility, and actual contributions to previous crowdsales did not affect future limits.
To address these challenges, we are now making some additional changes to the Priority Pass, starting with the DA Power Play crowdsale next week. The formula for calculating your individual contribution limit for Phase 1 will now scale linearly with the amount of CFI held in your wallet, eliminating the need for splitting your CFI among wallets.The formula for calculating individual contribution limits in Phase 1 of the pre-sale is now linear
The exact contribution limits depend on the token distribution at the time of snapshot, but it should start around 4 ETH for 5,000 CFI, then rise linearly with the amount of CFI held in wallet you linked on the Priority Pass dashboard.
After the DA Power Play crowdsale, we will also consider the following factors when calculating your individual contribution limit for each pre-sale:the average amount of CFI tokens in the wallet and the length of time the tokens are held; the amount of ETH contributions sent to previous Cofound.it crowdsales; and we are also considering implementing a “streak bonus”, which would reward supporters that contribute 1 ETH or more to consecutive crowdsales.
The goal of new ideas is to reward highly engaged supporters who believe in the long-term value of Cofound.it and the projects we announce. We will announce full details in the following weeks.
As always, we’ll keep evaluating the performance of the new system and make adjustments as needed. The changes we’re making were heavily influenced by your feedback in our Priority Pass Slack and other channels, so we are looking forward to hearing your feedback on the new system as well. Your feedback is an essential part of the evolution of the Cofound.it Priority Pass™ and our goal of making crowdsale participation a better experience for everyone, especially the most loyal supporters.