Details on Musiconomi crowdsale phases and Cofound.it Priority Pass | feedback welcome!

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blog.cofound.it5y ago
Musiconomi crowdsale: evolving the Cofound.it Priority Pass™

The Santiment pre-sale was the second Priority Pass pre-sale for Cofound.it. The pre-sale was highly successful and the project collected around 13,000 ETH in 3 blocks, leaving many Priority Pass members wanting.

That is why we worked with the members of our Cofound.it Priority Pass Slack and our projects to find the best way to address their key concerns: more emphasis on the Priority Pass community in the pre-sale, no more waiting, and a higher cap for Priority Pass members that would allow more members to support their favourite projects.

We’re now excited to announce the next iteration of the Cofound.it Priority Pass, starting with the Musiconomi crowdsale on July 26.

Pre-sale timeline

The Musiconomi pre-sale will be divided into three phases, as shown in the picture below.

Here are the key changes we decided to implement for this pre-sale:

The community and Priority Pass phases are now combined. There will still be an unlimited phase, but restricted to Priority Pass members only. The Priority Pass individual maximum will be based on the amount of CFI held.

If a supporter is included in both pre-sale groups, the project community and the Priority Pass community, their individual cap will be a sum of both caps.

Priority Pass limits now based on CFI held

The individual Priority Pass cap will scale linearly with the amount of CFI held, with the factor decreasing with size:

from 5,000 to 20,000 CFI the individual cap will scale with a factor of 1.5 from 20,000 to 100,000 that factor will be 1 from 100,000 onwards, the factor will be 0.25.

Any ETH over the limit will be returned to the supporters.

Musiconomi is raising 90,000 ETH (based on today’s exchange rate). Based on the split, the individual maximum funding amounts for the Phase 1 Priority Pass pre-sale are:

Musiconomi community limits will be defined based on the community response.

You can easily check the amount of CFI in your wallet on the newly released Cofound.it Priority Pass dashboard that also makes it easier to keep track of all upcoming pre-sales by Cofound.it project. Once the pre-sale starts, you’ll also be able to check your individual contribution limit on the pre-sale contribution website.

What the future brings

Even though we believe that this iteration is a reasonable next step, we also have a lot of exciting plans for the future. The access to the unlimited phase will probably be available only to those holding a substantial amount of CFI, and the length of time holding CFI will also count — the longer a wallet is linked, the higher the individual cap.