Introducing: KST VIP DAO with NFT Access
Over the past weeks, the team at KSM Starter has been in deep thought, researching various ways to not only reward our current community, but also continue to bring value to them in more ways than just IDOs.
After much thought and discussion, the KSM Starter team has decided that a faster onboarding of the KST VIP DAO would be the best way to reward our supporters.
What is the KST VIP DAO?
Simply put, KST VIP DAO is an exclusive group of the best KST supporters. The DAO will be utilized not only for governance, but also for investments. As KSM Starter is beginning to attract many early-stage projects, we have been privileged enough to receive exclusive deals in both seed and private raise rounds of these projects. The KST VIP DAO would be eligible to purchase 100% collectively of the entire allocation brought by KSM Starter.
Moreover, the KST VIP DAO would be eligible to participate in voting for project IDO, and other important decision making processes. To summaries, being a member of the KST VIP DAO allows users to:
- Vote on IDO proposals
- Vote on important operational decisions of KSM Starter
- Vote on Seed/Private sale investment proposals
- Participate in seed/private sale of early projects
- Have an express line of communication with the founding team
However, we do not want the KST VIP DAO to go to only those who have the highest tiers. For this reason, we are implementing NFT Access.
What is NFT Access?
KST NFT Access is a system that allows fair onboarding and participation in the KST VIP DAO. While the KST Team would love to reward all users, that is simply not feasible. However, the KST team should also be wary of the benefits solely going to high tiers such as Eagle and Phoenix, as this could skew the direction of important decision making votes. For this reason, KSM Starter NFT Access will have the following distribution method:
- All DAO Access NFTs will be airdropped. People are free to sell them in the secondary market. However, the airdropped nature of the NFTs would make the secondary market value unattractive for scalpers. This invites true community members to be rewarded.
- All Eagle and Phoenix Tier participants will receive free KST DAO Access NFTs.
- All Hawk and Raven Tier participants will receive free KST DAO Access NFTs, if they have been staking for more than 10 consecutive weeks.
- All Dove Tier participants will have the chance to win free KST DAO Access NFTs through a Gleam campaign.
- The KSM Starter Telegram community chat will have reputation mode turned on. Every month, the top 10 contributors within the community chat will receive free KST DAO Access NFTs.
- KSM Starter shall host special edition NFT giveaways that are extremely rare. Anyone can win these special edition NFT giveaways by completing the relevant tasks.
The DAO channel will be announced on Discord.
We look forward to welcoming you to the KST VIP DAO soon.
About KSM Starter
KSM Starter, the primary launchpad on Kusama, is built to provide early-stage support and public funding for projects building on Substrate. KSM Starter’s incubator modeled launchpad is driven by the community and shared values of fairness, transparency, and decentralized organization. Unique to the KST ecosystem, community members are incentivized to participate in the pre IDO selection process through higher allocation rewards. Also unique to KSM Starter, collaboration is fostered among launched projects by incentivizing community members to support previous launches by awarding them with improved lottery odds. This along with the KST Ecosystem Council generates a synergistic network effect that empowers all projects to succeed and leave a lasting impact on Kusama.