Reward system tokenomics

In an effort to incentivize participation and contribution within a community or platform, we propose the implementation of a credit-based reward system. This system aims to distribute rewards to users based on their level of engagement and contribution, measured in credits. Below is a detailed breakdown of the proposed system.

1. Credit Calculation:

1 credit = 0.006% eligibility to claim from the reward pool = 0.15% each 25 credits.

-Users accumulate credits based on their activities and contributions within the platform.

-Credits are earned over time and can be converted every 24 hours.

Reward Pool Distribution:

-The reward pool consists of a designated amount of cryptocurrency (ETH) allocated for distribution.

-Users can claim a portion of the reward pool based on their accumulated credits.

3. Credit to Claim Ratio:

-For every 25 credits accumulated, users are eligible to claim 0.15% of the reward pool.

-This ratio ensures that users with higher credit accumulation receive proportionally higher rewards from the pool.

4. Credit Accumulation Limits:

-Users can accumulate a minimum of 15 credits and a maximum of 45 credits within each 24-hour period.

-This range encourages consistent engagement while preventing excessive accumulation by any single user.

5. Distribution Mechanism:

-Rewards are distributed automatically to users' reward wallets based on their eligible claims.

-Smart contracts and automated scripts can be utilized to facilitate seamless and transparent distribution of rewards.

6. Transparency and Accountability:

-The entire reward distribution process is transparent and verifiable on the blockchain.

-Users can track their credit accumulation and reward claims through our Siege bot.

7. Governance and Adjustments:

-The parameters of the credit-based reward system, including credit conversion rates and claim ratios, can be subject to periodic review and adjustment.

-Community feedback and consensus may drive changes to optimize the effectiveness and fairness of the reward system.

Conclusion:

The proposed credit-based reward system offers an effective mechanism for incentivizing user engagement and contribution within the platform. By aligning rewards with user participation, the system fosters a vibrant and active community while ensuring fair distribution of incentives. Implementation of this system can enhance user retention, stimulate growth, and foster a sense of ownership and belonging among participants.