The new TokenGen 3.4 update came with a very much requested and expected Tiered Fundraiser feature. As simple as it might be to use, we are going to walk through the use of this new feature in this quick tutorial.
What is the Tiered Fundraiser Feature Used for?
Fundraiser tiers are part of almost every token crowdsale out there, old and new. What the TokenGen Tiered Fundraiser feature does is meet exactly that demand. Users will now be able to create periods of time during their token generation event, where specific bonus tokens will be handed out to investors.
For example, if the ICO lasts 4 weeks, via the Tiered Fundraiser feature, users can create 4 fundraiser tiers like so:
- First tier – week 1 of the fundraiser with 30% bonus tokens.
- Second tier – week 2 of the fundraiser with 20% bonus tokens.
- Third tier – week 3 of the fundraiser with 10% bonus tokens.
- Forth tier – week 4 of the fundraiser with 0% bonus tokens.
Of course, that is just one simple example, but that is pretty much what the TokenGen Tiered Fundraiser is used for.
Using the Tiered Fundraiser Feature
First of all, in order to use the Tiered Fundraiser feature, you need to include it in your project:
Once selected, the Tiered Fundraiser feature will add a new section to the Project Details step, where you can specify the fundraiser tiers:
A few things that are important to note here:
- TokenGen will validate all inputs to make sure correct info is provided.
- Fundraiser tiers cannot overlap i.e. the end date and time of a tier cannot be after the start date and time of the next tier.
- Fundraiser tiers can have holes i.e. a tier’s start date and time can be, for example, 10 minutes after the end date and time of the previous tier. In that 10 minute hole from this example, the default fundraiser conversion rate will be used.
As promised, the tutorial was very short as there isn’t much to cover – the UI says it all. On one final note, projects created before TokenGen 3.4 will not have the option to use the Tiered Fundraiser feature, so they will need to manually set the conversion rate if they want to have fundraiser tiers. Alternatively, there’s always the option of creating a new project that uses the new Tiered Fundraiser feature.