Retroactive Diamond Hands Ruling Confirmed!
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The community vote is in, 63.76% voted for Yes and the clear winner of the yes options was the version in which investors are required to stake the same tier they initially had when they made the purchase, in order to keep their future unvested tokens and distributions.
The option was also the overall winner with 40.77% of the votes.
That is also the ruling that will now be enacted. ✅
👉 Below we will explain what you need to do, to:
1. Keep your unvested tokens and future distributions in sales you previously participated in.
2. Enjoy the rewards from the Retroactive Diamond Hands Ruling (tokens relinquished and re-distributed from the disloyal to loyal investors).
1. How do I keep my unvested tokens and future distributions in the projects I have previously participated in?
You need to stake at least the same initial tier or at least a guaranteed tier (if the initial tier was a lottery tier) when you made the purchase in the sale before September 15th (i.e. September 14th, 2022, 23:59 UTC).
For instance, if an investor participated in a sale with the Executive tier, they need to stake at least at the Executive level in any of the pools (7d-1095d or LP) before September 15th, (i.e. September 14th, 2022, 23:59 UTC).
The TPAD needs to be staked for the entirety of the vesting schedules of the tokens in order to receive them. If there is a period in which the tier is unstaked continuously for 72 hours, then all the future vestings will be relinquished. There will be randomly timed snapshots that will be taken every 8 hours and if a wallet misses 6 snapshots in a row, the unvested tokens will be lost.
The forfeited tokens will be re-distributed to the Loyalists.
Many of the investors who left and sold their tokens, sold them for a way higher price and therefore they can repurchase and re-stake for a much lower amount of funds.
⚠️ Please note: The following regards only the retroactive Diamond Hand rewards.
2. How do I get the Diamond Hands retroactive rewards?
To be eligible to receive a portion of 80% of the rewards, the followings requirements need to be met:
1) You took part in the specific sale the distribution is about.
2) You stake at least the same initial tier or at least a guaranteed tier if the initial tier was a lottery tier when you made the purchase for the sale. The more you stake, the higher the rewards.
3) You stake the tier in a 365d+ pool or above (365, 730 or 1095 days) before Aug 5, i.e. Aug 4, 23:59 UTC at the latest.
The rest, 20% of the rewards will be redistributed to all Loyalists of the 365d+ pools without any other requirements than staking Aug 4, 23:59 UTC at the latest.
3. I’m a new investor, I haven’t participated in the sales above, can I also enjoy the rewards?
Yes, 20% of the tokens will be redistributed to the AAG Loyalists of the 365d+ pools without any other requirements than staking Aug 4, 23:59 UTC at the latest.
So, if you are a new investor who did not take part in the earlier sales, you can still receive a portion of these relinquished tokens of Gensokishi — MV, Bloktopia — BLOK, BlokPad — BPAD, SIDUS and others if you stake at least an AAG Tier for at least 365 days.
Ok, I’m loyal — will there be more rewards and perks going forward?
We aim to make the rewards of the longer staking pools (365d+) so high that even without taking part in any of our sales, you can enjoy high annual ROI in terms of various rewards we will introduce in the future. Diamond Hands is just the start, there are many more rewards and perks to come. We will also add various methods by which TPAD will be burned, so TPAD will become even more deflationary than it is now with the transaction fee.
What if I don’t want the retroactive rewards?
We will respect your decision and add a button on the website to deactivate your retroactive Diamond Hands rewards.
Enjoy!
Diamond Hands Rules — FAQ — Frequently Asked Questions:
1. How do I keep my unvested tokens and future distributions in the projects I have previously participated in?
You need to stake at least the same as the initial tier you used to do the purchase in the sale. The staking needs to be done before Sep 15th, 2022, i.e. Sep 14th, 23:59 UTC at the latest.
For instance, if an investor participated in a sale with the Executive tier, they need to stake at least at the Executive level in any of the IDO pools (7–1095 days or LP) before September 15th.
The TPAD needs to be staked for the entirety of the vesting schedules of the tokens in order to receive them. If there is a period in which the tier is unstaked or unlocked continuously for 72 hours, then all the future vestings will be relinquished. There will be randomly timed snapshots that will be taken every 12 hours and if a wallet misses 6 snapshots in a row, the unvested tokens will be lost. We will add a renew button to make sure you won’t ever miss the deadline. We will also offer a change pool button, by which you can change your staking to continue in a shorter period one after your current staking period ends.
The forfeited tokens will be re-distributed to the Loyalists.
Many of the investors who left and sold their TPAD, sold it for a way higher price and therefore they can repurchase and re-stake for a much lower amount of funds.
2. How do I get the Diamond Hands retroactive rewards?
Diamond Hands retroactive rewards means the tokens that gets forfeited from disloyal stakers and re-distributed to loyal stakers.
To be eligible to receive a portion of 80% of the rewards (DH80), the followings requirements need to be met:
1) You took part in the specific sale the distribution is about.
2) You stake at least the same initial tier or at least a guaranteed tier if the initial tier was a lottery tier when you made the purchase for the sale.
3) You stake the tier in a 365+ pool or above (365, 730 or 1095 days) before Aug 5, 2022, i.e. Aug 4, 23:59 UTC at the latest.
The rest, 20% of the rewards (DH20) will be redistributed to all the AAG members of the 365+ pools without any other requirements than staking Aug 4, 23:59 UTC at the latest, which means new investors can also enjoy these rewards.
3. What is the initial tier?
If your tier was Associate with 30 000 TPAD in a sale, you have to stake for 30 000 TPAD for that particular sale, so you don’t need to stake the new Associate, 45 000 TPAD to be eligible for that particular sale. The idea is to stake at least the same amount of tokens in one staking pool, combining staking pools won’t be possible. If your initial staking was 34 000 TPAD for instance, you only have to stake 30 000 TPAD to get the DH80 rewards. As Affiliate is the minimum staking tier for the DH80 rewards, the old Member, 10 000 TPAD is no more a valid staking amount for any of the sales as the Affiliate, 12 000 TPAD is the minimum.
4. What percentage of relinquished tokens will each staking pool receive?
There is no difference between the 365d pools in regards to the DH80 and DH20 rewards, but you can earn a higher APR and get higher Allocation Boosters in the longer staking pools. Also, we will add new perks that will include some differences between the 365+ pools.
5. Will the relinquished tokens be distributed based on tier or proportional TPAD holding?
The DH80 will be rewarded according to the initial bought amount. So, if an investor bought for 1000 BUSD in a 100 000 BUSD raise, they will get 1k / 100k = 0.01 = 1% of the relinquished tokens if they are eligible, staking in a +365 pool and their tier is at least at a guaranteed tier and at least the tier they originally purchased the tokens with.
The DH20 will be rewarded proportionally by combining all the active AAG investor stakings in the +365 pools and distributing the tokens to the active members according to their share of this combined AAG pool. So, the more TPAD you just compound and buy, the more DH20 rewards you will receive, so claiming will result in diminished rewards. TPAD staking is designed to be a cash cow, not something to be slaughtered and consumed. All the already designed future reward types will make this principle more and more a reality.
6. What must I do to receive the relinquished tokens, Diamond Hands rewards?
Keep your staking active in a 365+ (365, 730, 1095) pool and be otherwise eligible. You also have to claim the tokens within 72 hours, otherwise, they will be forfeited to the other eligible investors. We want to reward active investors. This is, of course, a positive thing as you will earn more if you are just an active member and monitor when the vestings happen.
7. What is the early unstaking fee?
The early unstaking or early withdrawal fee means that if you unstake your tokens before the unlock time, you will be deducted this fee. A part of this fee will be burned, part of it goes to the 365+ pool stakers and the rest is directed to the Treasury to keep the APYs high.
8. Some past projects like Gensokishi — MV and BlokPad — BPAD have multiple vesting events. Does missing the Aug 5 deadline mean relinquishing all the vested tokens or just the next quarterly (MV) or monthly (BPAD) tokens?
The forfeiting pertains to losing all the future vestings of all the past sales. Naturally, the investor is welcome to re-stake for all the future sales, to get rewards for them.
9. What are the criteria for new users to receive these rewards (relinquished tokens)?
They can get the DH80 and DH20 rewards for all the new future projects, and they can be part of the DH20 club for the retroactive rewards (Genso, BLOK, BPAD, Sidus etc) if they just stake an AAG tier in a 365+ pool before Aug 5, 2022.
10. What if I changed my wallets?
There will be a solution for that, so you won’t lose your tokens, nor lose the Diamond Hands rewards for that. Just make sure your current wallet is eligible to retain the tokens and you are staking validly for the rewards.
11. What if there is a refund?
If a sale is refunded, it will be refunded to those who are eligible to get their vestings. All the excess funds will be re-distributed as they are DH80 and DH20 rewards. You are supposed to keep your TPAD as staked for the entirety of the vesting schedule.
12. Can I combine tiers?
No. Only the tier that will produce the highest allocations will be valid. You can always upgrade your stakings so that they are in one staking pool. In the future we will also allow pool downgrading. However, you can have TPAD on various 365+ pools and all of them will be calculated as your total amount in the DH20 rewards.
About TrustPad
TrustPad has been founded to aid the growth of the blockchain ecosystem in a safe and sustainable way. TrustPad is proudly partnered with AU21 Capital, GD10 Ventures, Genblock Capital, Blocksync Ventures, X21 Digital, exNetwork Capital, Momentum 6 and many more.
TrustPad is different from other launchpads. A ‘quality over quantity’ approach ensures that projects launched through TrustPad have real long term value. This will provide the TrustPad community with sustainable development, attracting a larger community for both $TPAD and the projects launched on the platform.
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