Synapse introduces: a new way of INO Sale

Another pillar of the Synapse roadmap is about to be built! We are proud to be the first to present a different version of INO directly on our platform. More gamified, more pleasant and more transparent for all of our users.

More value to the users

We know that the world of crypto is not only about continuous development, but also (and perhaps even more importantly) about the improvements that the users can feel and see for themselves. That’s why our roadmap was showcasing a new kind of NFT sale, an integration on which we have been working tirelessly for quite a while now.

Our intention was to start from the baseline of a better UX, with gamified integrations that have the objective of making any INO experience feel rewarding and fun, which we hope will become an additional attraction for our users.

This new way of selling NFT meets all of the criteria that we have set in an easy and accessible form for the user.

What will actually change?

• No enrollment for rounds — all SNP stakers with a minimum Tier rank of 1* will be enrolled automatically for each INO.
• Purchase on a ticket basis (you do not buy NFTs, but tickets, which then will influence the draw results).
• The maximum amount is 10 tickets for each draw. The more tickets purchased and the higher tier you have, the more ticket power you get!

*Tier 1 counted from one hour before the start of the sale

How to easily purchase NFTs with Synapse?

1. You need to stake a set amount of SNP tokens at a minimum Tier rank of 1 (Early Birds) to be able to take part in our INO Sales.
2. Each user with a minimum Tier rank of 1 (Early Birds) will be automatically enrolled for every INO on our platform.
3. Each user with at least a Tier rank of 1 (Early Birds) interested in participating in the NFT/INO sales round, is able to purchase tickets directly on the Synapse Network platform in the project tab. The tickets entitle him/her to participate in the draw for the sale whitelist.
4. When the NFT pool is the same or more than the number of tickets sold, all those who purchased tickets will receive NFTs at a 1:1 ratio.

Example:

• Number of tickets you purchased: 6
• Number of NFTs in the round: 5000
• Number of tickets sold in the round: 4800
• Number of NFTs you get: 6

In cases in which more tickets are sold than the available NFT pool, there will be a Winner List draw. The Winner List draw will happen automatically as soon as the ticket purchase round is closed.

Example:

• Number of tickets you purchased: 6
• Number of NFTs in the round: 5000
• Number of tickets sold in the round: 6800
• Number of NFTs you get: depending on the draw

How actually will the draw look?

The tickets purchased by the users are multiplied by the Tier Level achieved previously, thus calculating the amount of so-called ticket power, which increases the user’s end chances of winning the draw.

• The number of tickets purchased increases the chances of the user ultimately winning the draw.
• The purchase of tickets does not guarantee the purchase of an NFT, but it increases the probability of getting one.
• We offer 10 Tier levels, with the Early Birds Tier being the first one. The higher Tier level users will have more chances of winning the draw.
• One hour before the start of the INO sale, we will take a snapshot of the Tier levels currently held by our users, with this status being taken into account during the sale. The higher the Tier level a user has, the greater their chance to win.

Ticket Power = (Number of Tickets x Tier level)

Examples:

• After purchasing 1 ticket and at the same time having a Tier 10 (Whales) level, the user will have 10 power tickets (1 ticket x Tier 10) which increases the chance of the user to purchase one NFT, as 1 ticket is converted in a 1:1 ratio to the NFTs.
• After purchasing 5 tickets and while holding Tier 9 (The Peanut Gallery), the user will hold 45 power tickets (5 tickets x Tier 9) which increases the user’s chances of purchasing five NFTs.
• After purchasing 10 tickets and while holding Tier 1 (Early Birds), the user will hold 10 power tickets (10 tickets x Tier 1) which increases the user’s chances of purchasing up to 10 NFTs.

What’s up with the Gleam contest?

Nothing is changing in regard to the Gleam rules and the announcement of the list of Gleam competition winners. However, the Gleam becomes more valuable, as implicitly the user already wins the opportunity to purchase 1 NFT without having to participate in the ticket draws.

The person who won the Gleam, by default can win 1 NFT unless the announcement suggests otherwise (winning from Gleam is guaranteed).

At the same time, the user from the winning Gleam list still has to perform the KYC process after the announcement of the winner’s list.

Moreover, a user from the winning Gleam list can simultaneously participate in the purchase of tickets and then in the drawing of winning NFTs.

Refund policy

After the sale ends, every user that has deposited funds but did not win any NFTs from the purchased tickets will be reimbursed within 24 hours after the round, using the BSC network / BUSD.

Conclusion

We believe that this new way of selling NFTs will appeal to our community. You will have the opportunity to check it out during the upcoming Kitsumon sale on our platform. We will also be happy to collect your feedback after the Sale and use it to improve this new solution, while also learning what actually our community enjoys more in an NFT sale.

About Synapse Network

Synapse Network is developing a cross-chain investment and start-up acceleration ecosystem based on blockchain technology to give everybody an equal chance to contribute to great upcoming projects and to do so early on. We are bridging the gap between the traditional & crypto market. The idea of the Synapse Network technology goes beyond the standard offer of launchpads available on the market, becoming a true technological brand providing tech solutions.

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