What is Coinlist Queue, How Coinlist Token sale Works, What is Coinlist Karma, and how to earn Karma
You have already read a lot about Coinlist ICO token sales in my previous blogs. Coinlist is one of the unique exchanges that do unique high-quality ICOs on their platform. We have seen Flow, Solana, Mina, Casper, Gods Unchained, Immutable X, Covalent and so many high-quality projects only on here. This is only exchange with such a nice list of token sales. They have a unique queue system that is very fair to all. Although, recently Coinlist has started Coinlist Karma points which let early Coinlist users advantage and it allows the users to get into priority queue to get guaranteed allocation. In this article, we will tell you how you can earn Coinlist Karma points to get into Coinlist Priority queue and get the guaranteed allocation.
What is Coinlist?
Coinlist is a cryptocurrency exchange known for organizing good-quality ICO sales. It complies with all applicable laws and regulations in each jurisdiction in which it operates. Hence, you have to complete the KYC to participate in token sales or to use its exchange. To participate in sales you must not be from these jurisdictions/countries.
Note: You can register on Coinlist with this link to get $10 when you trade $100 in any crypto.
People come with different questions to us, do we need to stake some tokens to participate in Coinlist token sales? What is the Coinlist queue system? How to get into the Coinlist priority queue by earning Karma points? We will be answering all these questions in the next sections.
How Coinlist Token Sales Work?
As the number of participants is increasing day by day, the coinlist has chosen a quite unique methodology to organize the token sales. As the projects came for funds like $100k – $500k and the number of participants is like 10k-1m, the Coinlist create a randomized queue. They ask their users to come at a certain time and then they randomly give the users queue number from 1-100k(or max number of people participating).
Now, the users are given chance to buy tokens one by one as per the queue numbers given to them. As minimum and maximum allocations are already defined the Coinlist already mentions to their users that approximately only this certain number of users will be able to actually buy tokens in a sale.
For Example: Consider, there is a guy Dinesh, who wants to buy token X from Coinlist. He first needs to register his interest in the token sale and then at the time of the sale, he will be given a random queue number. Assume that 100k people are participating in token sales. So, Dinesh can get a random number between 1-100k.
Case I – Dinesh got queue number 3191, and it is expected that around the first 10,000 will get an allocation. Then in this case the Dinesh will get a chance to buy some tokens.
Case II – Dinesh got a queue number of more than 10k let’s say 29484. Now, as it is expected that only 10,000 will get the allocation. It is highly expected that Dinesh will not get the chance to buy the tokens. Just got Unlucky.
So, this is just like a lottery system, which is fairest and transparent to all users.
What is Coinlist Priority Queue?
Coinlist recently started a priority queue system for its and ICO project’s early supporters. As per their blog, the priority queue is reserved for less than 1% of the participants. Though it doesn’t guarantee the allocation, but the queue is way much shorter and the chances to get in the sale are way higher. Let’s understand what is Coinlist priority queue is and how it works with an example.
Now at the time of the sale, imagine there is the only allocation for 5000 people and 1% of that will be 50. So, now, there are only 50 priority queue slots available and the number of users is like 150. Now, these 150 users are provided with queue numbers from 1-150 and the starting 50 numbers will get the allocation.
What is the Advantage of Coinlist Priority Queue?
Coinlist Priority queue is a way to tell the users that do good for the project or for Coinlist and you will get rewarded with guaranteed allocation or you will be prioritized over others. It is a way to thank their early supporters, KOLs, and fans that helped their community to grow.
What are Coinlist Karma Points?
Earlier Coinlist picked users for the priority queue randomly from the list of early supporters. Though, in the latest post, they started a point-based system called Karma. The more Karma you have the more you preferred over others for the priority queue. You have to earn these points by doing good stuff for the project launching or for Coinlist.
This is way more transparent than the earlier method of randomly picking. This methodology also helps Coinlist to grow its community and get more volume to their exchange. Though this is only for the Coinlist side of the priority queue, you can still get into the priority queue from the project’s side.
How to earn Coinlist Karma Points?
To earn Coinlist Karma points the user has to complete certain tasks provided by the Coinlist team. This majorly includes using their platform to full extend, like trading on their Coinlist Pro platform, Using their mobile app, trading tokens, staking, participating in token sales for at least 1 year, participating in their hackathons, etc. You can view these tasks on your karma page inside your dashboard.
As of now, the priority queue is given to the users having more than 1000 Coinlist Karma points. Although, it can be changed along with the structure at any point in time.
So, to earn Karma, you need to follow Coinlist in their different social channel so that you know when there is any hackathon or developer event. Join their socials Discord, Telegram, Twitter and be updated.
More detailed guide on How to earn Karma is coming soon.
Coinlist is one the most decent IEO platform, known for its excellent picks of tokens. It is the one who did the IEO of Solana, Flow, Kadena, and the majority of the top gainers nowadays. The sale mechanism is a little different than other exchanges and is more transparent and fair. As of now, the Coinlist Karma is creating some confusion among people, but it will get better along time. Ping me in the comments for any queries and one of us will get you back. The other exchanges similar to Coinlist are Gate, Huobi, and Binance.