Hi all Nitropadders!
Since we posted our update about Nitropad, where we first announced the Project Bounty Program, your feedback about it has been overwhelming.
We knew you were going to like it, but not that you would love it SO much, so we decided to write a complete post explaining all the details.
Ready? lets deep dive into the Project Bounty Program. We will be covering
- What is the Project Bounty Program
- The Program in numbers
- How to participate and be eligible for the bounty
What is the Project Bounty Program
If we ask what is the fuel of a Launchpad you will all agree the answer is “Projects to launch”. And you would be completely right, with no project to launch a launchpad is useless.
So, how can we atract Projects that want to do their sales rounds with us?
Well, we could just sit and wait for projects to know on Nitropad’s door but that would be inefficient and would probably lead on bad image if time passes and no projects are launched.
We could hire some Advisors so they would not only spread Nitropad word in CT but also serve as a bridge between Projects and Nitropad. Briliant idea!
Wait a second…what if we extend that approach not only to Advisors but also to all our community? They are the most interested stakeholders to launch projects in Nitropad, so why not opening the door to their contacts and getting a share of Nitropad launching fees?
That’s an even better idea!
Advisors
Our approach for the Advisors we are contacting with differs from usual partnership between projects and them, and we strongly believe it’s the best possible approach for the interest of Nitropad and its community.
The Advisors that onboard the Nitropad team will be paid in 2 main streams:
- $NPAD allocation from the Treasury and Partnership reserve, with an agreed amount and vesting schedule. This $NPAD allocation will be small yet attractive enough for the Advisor to ensure the focues comes from the second earning stream, which is:
- Percentage of each Project they bring to Nitropad that is finally launched.
This way, the scope of their work is not only to create some nice threads and tweets in CT spreading the word of Nitropad and bringing new members to the community, which usually end up in a Pump & Dump of $NPAD and their followers used as Exit Liquidity, but also to build a strong relationship with Nitropad team over time, bringing as many projects as they can thanks to their contacts and CT engagement.
Nitropad Community
The approach is exactly the same as for the Advisors, with the same percentage from Nitropad fees if the project you bring is finally launched with us!
In other words, you know have an additional earning stream along with the ones already in place: $NPAD price action, $NPAD staking APR, Project Launches allocation.
Project Bounty Program in numbers
Nitropad has a launching fee between 2% and 5% depending on the amount of funds the external project is willing to raise. The more funds, the lower our fees.
For both Advisors and Nitropad Community, we will be rewarding them with 25% of the raised Nitropad fees, also depending on the amount our fees represent.
Bounty will be paid in one shot (no vesting) and sent to your wallet as soon as Nitropad has collected the launching fees.
These are the default Nitropad launching fees:
Sale raised funds less than $50,000: 5%
Sales raised between $50,001 and $100,000: 4%
Sales raised between $100,001 and $300,000: 3%
Sales over $300,000: 2%
Lets explain this with a real example. Imagine you bring an External Project (hereafter the EP) which provides Nitropad with % of their total supply they want to sell at X price. Total expected raise would be $150,000.
Project launches successfully, reaching the hardcap and therefore a sold out for those $150,000.
As a result of Nitropad services, we charge EP with a 3% of total raised which is $4,500.
From these $4,500 either the Advisor or a community member would be receiving 25% which is $1,125.
How to participate and be eligible for the bounty
In order to be eligible for the Bounty you will need to actively participate on the agreement between that project and Nitropad.
In other words, opening a ticket in our Discord and telling us to check a project by sharing their socials and website will not qualify for the Bounty.
If you know of a project that needs to launch their token or NFT collection, speak to them and explain what Nitropad is and how we can help them. Get their attention and interest on speaking to us.
Then, you can open us a ticket, providing your feedback about the project and putting both project teams in contact. Nitropad will take it from here and work on all the internal checks we usually do for any given project that wants to launch with us.
If we finally reach an agreement with that project, we will contact you and provide a written confirmation you have been eligible for the Bounty and we will share all the initial draft numbers (tokens assigned to the sale, funds expectated to be raised, Nitropad fees and therefore your Bounty). Of course these numbers may vary depending on the sale outcome.
Once sale is completed, out of the total funds raised, we will share the final numbers and will transfer you the Bounty as soon as Nitropad has collected the platform fees.
Now you are a Nitropad Explorer!
Now that you know all the details about the Project Bounty, is time for you to go out there, meet other projects, spread Nitropad word and bring those projects home!
Hope you all like this Program and we are looking forward to what you bring to Nitropad’s table. Happy exploring!!
The Nitropad Team.
