Launchpool Labs is a chain incubator where teams and developer hubs can build MVP and MVC respectively.
Users can co-build with incubated projects, and invest early on with their $LPOOL token holders. To access investment opportunities, they have to gain any one of the 4 NFTs granted through the 4-tier NFT system. This acts as virtual membership cards that reside in your Metamask wallet. Although users have to stake their tokens in order to mine an allocation, an NFT cards grants access to certain investment levels and allocation sizes.
Launchpool has differentiated 4 types of NFTs with different access levels and allocation sizes.
These 4 types of NFTs are:
- Bronze NFT
- Silver NFT
- Gold NFT
- Diamond NFT
On a side note, any user can only earn the NFT and cannot receive NFTs from any secondary markets. This is because whenever an NFT is released, an equal amount of $LPOOL token is burnt.
Moreover, users have to clear their KYC before earning Launchpool NFTs.
After all this, how can a user acquire an NFT card? All the types of NFTs are linked to the Metamask address. This is the same address used in KYC verification process and sign-up.
After certain conditions are met, distribution of NFTs happen. Launchpool has made a specific formula for that:
“x” $LPOOL held + “y” Time + 1 AME participation + KYCed Wallet.
where “x” = amount of $LPOOL held (200 / 500 / 1000 / 5000),
and “y” = number of consecutive months you’re held $LPOOL for (3–6–12–18mon.). the date taken in consideration is May 1st 2021.
For example, if a user holds 200 LPOOL tokens for 3 months consecutively, he’ll earn an Bronze NFT given he has completed the KYC.
But what are the criteria of acquiring the NFTs?
|NFT category||Number of tokens||Duration|
|Bronze NFT||200 LPOOL||3 months|
|Silver NFT||500 LPOOL||6 months|
|Gold NFT||1,000 LPOOL||12 months|
|Diamond NFT||5,000 LPOOL||18 months|
The distribution date for various categories of NFTs is given below:
|Bronze NFT cards||End of July, 2021|
|Silver NFT cards||End of October, 2021|
|Gold NFT cards||End of April, 2022|
|Dimond NFT cards||End of October, 2022|