TL;DR: On track for launch on 30 April, Stage 1 of 3 going live, exciting Genesis NFT & DevvDrop updates

As we approach the countdown to the debut of the DevvE Launchpad, our team has been diligently working to ensure a top-notch launchpad experience for both our clients and community.

We are well on track for an early-stage release of the platform this month. However, it’s important to note that the features in our staking platform will be rolled out gradually to ensure quality assurance. We would like to clearly define the initial rollout as “Stage 1” as our goal is to make the DevvE Launchpad the best in its class. We have a 3 stage development plan.

Updates and some of the temporary changes during Stage 1

Private & Public Tier Allocations

We’ve successfully deployed smart contracts that manage DevvE staking and tier allocations based on our custom distribution algorithm. These contracts consider users’ total stake to determine their membership tier, with an additional multiplier for the duration of stake locking. These contracts are thoroughly tested and ready for action.

However, we have not yet deployed the Public Sale smart contracts for allocation distribution as outlined in the membership tier description. This requires the creation of a new smart contract. To adhere to our communicated timelines, the initial Launchpad offerings for Public Sale rounds will adopt the same formula as the Private Sale allocations until we move to stage 2. We believe this adjustment will have minimal to no impact on users’ allocation receipt, as the platform accounts for pledges in USD.

Seedling Lottery System

The Seedling Lottery system for a 1x Private Sale allocation will not be implemented in the initial launchpad rounds. Instead, we will offer 1x allocation to all DevvE locked stakers in the Seedling tier. This will be subject to review and revert back to the original documentation at a later stage.

DevvDrop

The first DevvDrop will be announced soon after staking to initiate our rewards program. Similar to the public sale, this involves an independent smart contract that vests tokens over a 12 month period based on users’ percentage of DevvE locked, as a percentage of the total DevvE locked. These contracts are complete and in the final stages of testing and will be ready for deployment for the first project launch! What’s important to note here is that because vesting is an independent smart contract, DevvDrops are required to begin vesting after the TGE when the tokens become available.

As our community is aware, the first DevvDrop will be $FIAS, with a token allocation of 3,000,000 ($240,000 at TGE price) to be distributed to DevvE stakers.

Subsequently, as new projects launch on the launchpad or the DevvExchange, users who maintain their DevvE locked up are eligible for all additional pools. We expect the 2nd DevvDrop to begin soon after Fias to start compounding users’ rewards. Over the 12 month vesting period, users will be able to collect unlimited DevvDrops to form their full reward potential to vest into their account in parallel.

Genesis NFT

Our early supporters are the backbone of our success. We want to reward everyone involved and are dropping a Genesis NFT! This will enable a variety of exciting benefits, just to name a few: Exclusive private deal flow for the DevvE launchpad, discounts on the upcoming DevvExchange, discounts on our soon to be launched DevvMerch shop, eligibility to be part of future launchpad project decisions. And you might even be lucky to receive a super rare NFT version which will even unlock further benefits.

To be eligible for the free Genesis drop, you will need to be a staker of tier 2 or above, lock for 9 months or more, stake at least 1,000 $DEVVE and do all of this within 40 days of the launchpad launch date. But stay tuned for more detailed information in upcoming NFT communication from the team.

7 Day Cooling Off Period

During this first phase of launch, the 7-day cooling off period will not be available. All pledging will be handled by immutable smart contracts, although we aim to implement this feature at a later Stage.

General UI/UX Improvements

After the successful deployment of stage 1 launchpad operations, we have a comprehensive list of general improvements planned. Up to this point, our focus has been on the technical implementation of smart contracts with our unique mechanisms.

Almost there…!

We’re currently finalizing elements such as integration with our KYC provider which has taken a bit longer than we originally anticipated. The good news — everything is progressing smoothly for the initial release, and we’re excited for everyone to experience the DevvE Launchpad firsthand!

The DevvE Team.

Source: https://medium.com/@DevveEcosystem/devve-launchpad-update-0fa747852c6f