Early adopters final announcement and clarification.
Dear community, as you know FORM stands by its users and it’s there for you. During the last few days we have discovered that there was some misinterpretation of the rules for Early adopters, which could be our fault as well.
As you know Early adopters was not even planned in our roadmap, we just felt we wanted to reward the massive support we are getting from you guys before we launch our anticipated V1 Alpha. From time to time the Formation team will be rolling out features that are extra additions to the official roadmap, as we are moving fast and we want all our partners to grow, industry to mature, and reward our community.
To clarify once and for all the early adoption program. Yes the spots are limited, we were totally surprised by the number of participants so we decided to re-adjust the spots.
To give EVERYONE a fair chance here is what’s happening:
- We have raised our tier spots numbers to make sure everyone who qualified in the first snapshot and ever since has not decreased their holdings will be qualified for appropriate tier or be eligible for an upgrade tier spot (if $FORM holdings increased to new tier levels).
We are doing our best to get you all qualified. However no double accounting will be permitted. Our team is monitoring whether people are playing to rules fair.
- Once qualified and approved for the tier, you still have to maintain at least tier qualification amount in your wallet (WHEN THE POOL IS LIVE) to be eligible to FARM your tier’s (REWARD POOL TOKENS/MULTIPLIER).
** You just have to make sure to have minimum amount of tokens to FARM your Tier’s Rewards
Silver: 2,500 $FORM
Gold: 10,000 $FORM
Diamond: 35,000 $FORM
Black: 50,000 $FORM
To put things in perspective :
Context: Alice had 30K FORM during the first snapshot, Alice decided to get more, and currently has 100K FORM during the second snapshot. Alice qualified for BLACK TIER ( black minimum requirement: 50K FORM)
Right after Snapshot is taken Alice decided to sell 80 000 TOKENS.
Alice has now only 20 000 FORM TOKENS, that means she will not be able to get the (REWARD POOL TOKENS/MULTIPLIER) given by black tier when the pool is live. Alice can still stake FORMS and earn rewards but will not be receiving any additional APY provided by the tier’s (REWARD POOL TOKENS/MULTIPLIER).
Right after Snapshot is taken Alice decided to sell 50 000 TOKENS.
Alice now has 50 000 FORM TOKENS. That means Alice still holds the minimum token amount required by the tier she has which is black. Once the pool is live Alice has full access to FARM the tier’s (REWARD POOL TOKENS/MULTIPLIER).
Had Alice sold more tokens than required by the minimum of the tier she approved but enough for any other level down tier, will that mean that tier tier will just get downgraded to lower tier? NO. Even if the amount of tokens matches the lower tier, since she approved for higher she won’t be able to get the lower, after the snapshot was taken at the higher level when Alice still had the full amount.
You can upgrade but you can’t not downgrade.
- Early adopter program is not a speculative instrument. It was designed to reward our early holders, not speculators. Once a snapshot is taken, decide to sell your tokens, and don’t meet the threshold (then your tier spot is lost).
- FORM INVESTORS, ADVISORS or TEAM MEMBERS CANNOT participate in the early adoption program.
- FORM early investors as per schedule are on a cliff for the 60 day period that started July 19th, 2021 meaning investors can not dump their vested tokens during our staking and liquidity providing events.
- Alpacas and pancake LP will be counted in after the snapshot ends — we are working closely with both of the teams.
Apart from early adopters, stay tuned for the upcoming announcements since we will be announcing special products again not included in the roadmap to give you a glimpse on what’s about to happen during Alpha launch.
Stay tuned for more info and follow us at: