MPWR Reward and Burn
MPWR - Reward and Burn System
Lately, ClubRare has been launching weekly auctions for Premium Phygital NFT drops. As previously stated, we are committed to ensuring the sustainability of MPWR by burning 50% of the MPWR tokens accrued from these weekly Premium Phygital NFT auctions. Through the Reward and Burn system of MPWR, we aim to stimulate the acquisition of Phygital NFTs and attract new users, thus reinforcing the token burning mechanism.
Moreover, ClubRare is initiating a mission event to invigorate the use of 'My Profile,' our visual social profile feature tailored for collectors and creators. We plan to progressively add more missions to this event to keep it engaging and beneficial for our community.
- 1.Reward Calculation Method
- The top 100 participants, who have accumulated high scores by successfully completing missions, will receive rewards daily.
- Ranking Criteria: A participant's rank will be based on their mission success rate, calculated from the user's sign-up date until the first reward distribution date.
- Existing Users: Since activities already completed by existing users count as mission successes, these users will enjoy additional benefits.
- New Users: Bonus points will be provided to new users as a warm welcome to the community.
- 2.Mission Period: July 13 - 26, 2023
- Vesting Mission Period: 10 months
- The vesting period for each participant will be determined based on their first reward distribution date, resulting in potentially different participation periods for each participant or wallet.
- 3.Reward Distribution
- Distribution Dates for Top 100 High Score Participants: Every Monday to Friday (weekdays)
- The first reward distribution for the Top 100 high score participants is set from Monday to Friday. We do not distribute rewards on weekends to allow time for the review process. Rewards accumulated during weekends will be distributed the following Monday. Please note that the schedule may be slightly adjusted depending on the system's status.
- We aim to automate the tokenomics by July through an upgraded version of tokenomics 1.0.
- Token Burning and Vesting Reward Distribution Dates: Every Monday, Wednesday, and Friday
- Vesting will occur over a period of 10 months. After burning a certain amount of tokens three times a week, the remaining tokens will be vested and distributed as rewards.