After successful Golden round, Aada Finance allows more participants into the Silver Round

Tokens are self-marketing. When someone genuinely owns something and feels skin in the game, they want to evangelize it — Chris Dixon on WEB3.

When one lays the cornerstone of a particular venture, they want it to be significant. An honest person wants that project to be helpful for the people and have the highest possible adoption. When it comes to web3 and blockchain, you are not striving to reap benefits for your pocket or your investors — but the community and protocol.

We at Aada have one principle that we value more than anything else — to put our community first. Aada does hold its community in high regard equally as a colleague sitting in the office. We are not only building a DeFi protocol — we are structuring DAO. Respectful, equal, and distributed decentralized autonomous organization.

When it comes to making decisions, three crucial pillars help us make the best choices:

• Community
• Adoption
• Protocol

Aada Finance just completed its public IDO on Cardano Mainnet within 87 minutes. We received much higher engagement than we could ever imagine. We are grateful for your relentless support; we appreciate you.

After the round, we heard that many community members could not participate. That’s the awful medicine, but the patient needed it. We are designing our Silver round particulars based on the feedback and learnings. Our goal is to benefit all three pillars mentioned above.

We are making a couple of essential changes to a Silver round. Kindly find them below.

Changing start date — We are moving the Silver round initiation 2 days later from December 31st 21:45 UTC (beginning of epoch 312) to January 2nd 17:00 UTC. This will drive sales away from an epoch rollover time when Cardano Mainnet delays are expected. Additionally, it will move the sales away from New Year’s Eve.

Separating ticket claiming and sale — This round will be different from the Golden one. We will dedicate almost entire Epoch 312 just to claim Silver tickets. Once again, everyone will have 53 hours safe window to claim a silver ticket. The sale will begin at the start of Epoch 313. However, this time, everyone with the ticket will be eligible to participate at any time of Epoch 313.

Increasing Silver round supply from 250,000 AADA to 750,000 AADA — Ok, this is a much tougher decision to make, but we had to do it; please hear our arguments.

First of all, the Golden round ended in no time. Many people were not able to participate even if they claimed the ticket. That was something we didn’t expect.

Moreover, we already have around 1,000 Silver referral tickets claimed at the time of writing, signaling huge demand for the Silver round. This could lead to up to 2,000 participants with a max of 350 AADA each.

In order to create true bonds that will sustain a healthy DAO, increasing supply is crucial. We will take 500,000 AADA from the unused ISPO allocation and put it into the Silver round. With the ISPO module, we expect to distribute 3,500,000 AADA out of the 12,500,000 we allocated at the beginning. Redirecting some of the AADA will help us to get token holders. All unused AADA tokens from Silver Round will be returned to the ISPO treasury.

Also, we were overwhelmed with inquiries (including private ones) to change the sale supply to get more token holders. Golden round blink and community engagement are a massive boost to our spirits.

Lowering upper AADA threshold — Instead of a maximum 300 ADA, we will set an upper threshold with the start of Epoch 313 based on the amount of claimed silver tickets. Round supply will be divided by the number of Silver tickets claimed. This way, everyone with the ticket will be able to participate.

Once again, every claimed ticket will be able to participate in the silver round.

Website for redeeming Silver ticket and performing purchasing actions — sale.aada.finance.

Lastly, this is proof of freedom! There is no commanding VC, no whales who could move us towards any direction that would gain them, not the DAO. What we care about is building a strong and distributed community. That’s what we do.

To sum up, changes in Silver Round consists of:

• Silver Ticket Claim Time(3 days):
  from Jan. 2nd, 17:00 pm UTC
  till Jan. 5th 21:45 pm UTC
• Silver Round Participate Time(5 days):
  from Jan. 5th, 21:45 pm UTC
  till Jan. 10th 21:45 pm UTC
• Silver Round Supply — 750,000 $AADA
• Guaranteed slot to buy with a Silver Ticket!
• Lowered upper AADA threshold.

Find related information in Gitbook.