Oluwapelumi Adejumo · 2 hours ago · 2 min read
6 ways ScaleSCORE brings fairness to the crypto IDO ecosystem
Crypto fundraising can prove tricky for end users. But a new protocol aims to change just that.
Crypto’s core ethos is that of bringing fairer financial services to all users, regardless of their age, race, gender, or industry connections. It’s easier said than done, however, with some activities in crypto circles these days mirroring those of the ‘traditional’ finance world.
Take Initial Coin Offering (ICOs), or their newer cousin, Initial DEX Offerings (IDOs), for example. The premise relies on investors investing upfront for a token allocation for a new project, receiving the latter days or weeks afterward for use in the open market. And while the concept sounds tame initially, the reality oft consists of insiders and those with large budgets buying up allocations and muscling the average investor out of the round.
The madness furthers with the invariable IDO season. New projects are launched or offered to investors nearly every hour, making it difficult for an individual to keep track of all developments or launches. And the ones that investors do manage to keep an eye on may end up in the hands of a small group (instead of the broader community).
This is where ScaleSCORE steps in. Developed by the Polygon-powered fair IDO launchpad —ScaleSCORE is a unique loyalty scoring system based on 6 dimensions that ensure fairer, transparent, and non-exploitive community participation in IDOs
“We have a big plan to change the IDO landscape to a more sustainable construct, where transparency, authentic quality and substance, decentralized governance, and most importantly, fair treatment and remuneration of loyal community members are the highest priority,” noted the team in a recent post.
6 ways the ScaleSCORE helps in a fairer IDO
With 6 dimensions to assess user behaviour, ScaleSCORE rewards loyal community members based on their commitment and loyalty, with only 1 out of 6 dimensions being budget-dependent.
This results in both guaranteed pool participation and unlocking new features (like ScaleSwap’s autopilot function coming in the ‘V2’ version). “You can’t buy power in a direct way in the Scaleswap ecosystem — you have to earn your position and your privileges with your commitment and by your loyalty over time,” explains the team.
The below table shows all 6 dimensions that in sum, determine the individual ScaleSCORE. The conditions offer you the minimum criteria to get points and at which level you are reaching the maximum points possible.
As you can see from the third column and the contained graphs/ formulas, the score determination does not take place in a linear way but with an individually tailored formula for each dimension to increase the appeal to increase the personal ScaleSCORE ranking.
Apart from the SCA token holdings, it’s crucial to acquire and hold the tokens preferably for a maximum period of time (i.e. acquiring the tokens as soon as possible and not selling them).
An additional and very effective method to boost your ScaleSCORE is to provide liquidity for SCA at Uniswap or Quickswap (min. 100 USD in value at the time of ScaleSCORE determination).
Disclaimer: CryptoSlate holds a financial position in ScaleSwap and was given the opportunity to participate in the presale of this project in exchange for news, analysis, and other types of coverage. CryptoSlate was NOT paid to publish this article.
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