🙋‍♀️Presale Participation

Prefunding Mechanism

The prefunding mechanism in Noxstarter is crucial in the allocation process for presales. It's designed to encourage early participation and engagement by community members, offering them the opportunity to secure and enhance their allocations before presale events. This mechanism also effectively demonstrates the community's tangible demand for projects, serving as a valuable indicator for both Equinox and the project teams involved. Such visibility enhances our ability to attract top-quality projects and potentially secure additional allocations for the community.

Prefunding Phase

The prefunding phase commences typically up to two weeks before the presale event. During this phase, everyone can securely lock their USDT in an escrow contract on Noxstarter. Each participant decides individually how much funds they want to commit to the presale. If applicable, the maximum individual contribution limits are included in the project details. Flexible funding allows participants to commit their funds at any point during the prefunding phase, including making multiple funding transactions.

In the future, typical allocations based on the historical data may be provided for guidance. However, currently reaching the maximum individual allocations is not unusual.

Overfunding

While there is no guarantee that all committed funds will be met with allocations, excess funds from prefunding may provide additional allocations, if available. Any unused funds are refunded shorty after the presale event at the end of prefunding phase.

Benefits of Early Participation and Queue-Based System

When approving the prefunding transaction, the system generates a timestamp that determines the transaction's position in the queue. Distribution of any excess tokens to overfunded participants will be conducted according to this queue system.

Each transaction receives its unique timestamp and place in the queue.

Participants in tiers 1 through 8 are informed of a minimum prefund requirement, typically equating to the estimated allocation of a single winning ticket in their tier. Meeting this requirement enables the participant to generate an additional ticket daily throughout the prefunding phase.

Presale Event

Conducting the Lottery

Following the prefunding phase, a lottery is conducted for each tier, considering all eligible tickets within that tier.

Finalizing Allocations

The allocation from each winning ticket is added to the ticket owner's individual allocation. Owners of multiple winning tickets can accumulate allocations, potentially exceeding the typical limits of their specific tier.

At this point, participants in tiers 9 and 10 receive their guaranteed allocations, without the need for lottery.

Presale event is conducted automatically, finalizing allocations and processing the distribution of all eligible tokens within one continues process. Therefore, no additional funds can be added past the prefunding phase.

Excess Funds and Queue-Based Distribution

In cases where unsold tokens remain following the initial lottery and guaranteed allocation distributions, excess allocation is distributed to overfunding participants in a cycle. This process cycles through the list of overfunded transactions according to their timestamp order in the prefunding queue.

Each cycle imposes limits on extra allocations participants can secure through overfunding, typically equal to the allocation of one winning ticket or the guaranteed allocation of their tier. The system continues allocating unsold tokens in cycles until all tokens are sold or all excess funds are depleted. Upon completion of the presale, all participants with excess funds remaining in the escrow contract can withdraw their remaining funds.

This automated approach to distributing additional allocations from excess tokens eliminates the need for a first-come-first-served (FCFS) bonus round, providing a fair and equitable distribution that further incentivizes engagement and early participation, without the need to be present at any specific time.