🍕Tier System

MeijiDAO has a tier system where we upgraded our 3 tier system to a detailed tier system where all tiers were guaranteed.

MeijiDAO has dynamic tier system architecture that individual IGO project can set their own tier levels. It's very efficient to test tier system and find the more suitable pool weight for each tier level. MeijiDAO V1 was designed as 3 tiers.

New tier system is designed as 9 tiers and it is upgraded as more detailed in MeijiDAO V2.

The initial version of the 9 tier system consisted of a system where it was based on guaranteed allocations for all tiers with a pool weight formula, where going to the next bigger tier also gave high pool weight bonuses.

What is the difficulty in tier system design?

We try to design a more fair system, the mechanism of 9 tier system encounts several issues as following:

• For the lowest tiers, most launchpads use a lottery based system, and even though we wanted to go with guaranteed allocation for all tiers, with a big base of users, guaranteed allocations for the lowest tier resulted in a problem that the allocations became too small.

• Another issue was how to arrange the bonus pool weight structures as suitable one.

What is the solution to cover issues happened in tier system?

To solve above problems for the next IGOs we will be adopting lottery based allocations for the lowest tier which is tier 1.

Updating the pool weights as below, and giving a chance to the lowest tiers to become guaranteed by second phase

Pool weight examples:

• Tier 1– 1.2 pool weight(lottery based)

• Tier 2– 2 pool weight(guaranteed)

• Tier 3– 5.5 pool weight(guaranteed)

• Tier 4– 12 pool weight (guaranteed)

• Tier 5– 19 pool weight (guaranteed)

• Tier 6– 26 pool weight (guaranteed)

• Tier 7– 70 pool weight (guaranteed)

• Tier 8– 150 pool weight (guaranteed)

• Tier 9– 325 pool weight (guaranteed)

Tier 1: 250 $MEIJI, Tier 2: 1000 $MEIJI, Tier 3: 2500 $MEIJI, Tier 4: 5000 $MEIJI, Tier 5: 7500 $MEIJI, Tier 6: 10000 $MEIJI, Tier 7: 25000 $MEIJI, Tier 8: 50000 $MEIJI, Tier 9 100000 $MEIJI

In this updated tier system, there are still bonus pool weights for increasing tiers, but will be suitable so that there is a more fair distribution according to $MEIJIholdings. ]

The lowest tier participants who win the lottery get to participate with more allocation compared to the first version of the 9 tier system.

Since the above benefits + some bonus weights already create added value for higher tiers, reupdating the pool weight to a more balanced way made more sense to make the system more distributed and fair, so more people can get the chance to get benefits from IGOs.

Regarding First Phase and Second Phase

• MeijiDAO has an allocation system where your buy size according to your bracket is devoted to you fully in the first phase within a certain time-frame.

• And in the second phase, the tokens that are left from the first phase are allocated as a First Come, First Serve round, giving fastest people 0.5x more allocation to buy in the second phase.