August 2023 - MPWR Reward and Burn
We wish to express our heartfelt appreciation to all the members of our community who actively participated in MPWR Tokenomics 1.0.
As previously announced, we are excited to launch MPWR Tokenomics 1.1, commencing on August 3rd.
- Expansion of Reward Eligibility: From Top 100 to Top 300 CandidatesIn the Tokenomics 1.0 phase, we selected the Top 100 participants with the highest scores for daily reward distribution. However, due to the growing number of members in our global community and in anticipation of further enhancing the ClubRare platform's activity, we have made the decision to broaden the opportunity for more users to earn rewards within Tokenomics 1.1.Starting from August 3rd, we will expand the list to include the Top 300 high-scoring participants, ensuring that more individuals can enjoy the benefits of daily rewards.
- Enhanced Vesting Missions As part of Tokenomics 1.1, we have introduced more comprehensive vesting missions for our participants. You can find the detailed information below. To strengthen user engagement and enhance the token burn mechanism, we are committed to ongoing improvements and the addition of further vesting missions.
- Token Burn Policy for Platform Fees We intend to implement a token burn policy for the platform fee based on the platform activation score. Despite the gradual increase in user activity within the ClubRare platform, the platform activity index is currently relatively low. As a response, we will be implementing a weekly token burn of 5% from the platform fee, occurring three times a week.
Starting from August, ClubRare will introduce an enhanced leaderboard system. Within this new system, participants will have the ability to view their daily rankings and track their accumulated rewards. More information regarding this feature will be provided through separate announcements.
Once again, we extend our thanks for your invaluable contributions to MPWR tokenomics and the vibrant activation of the ClubRare platform. For a comprehensive understanding of the MPWR Tokenomics 1.1, please refer to the detailed policy outlined below:
- 1.Reward Calculation Method
- The top 300 participants, who have accumulated high scores by successfully completing missions, will receive rewards daily.
- 2.Ranking Criteria: A participant's rank will be based on their mission success rate, calculated from the user's sign-up date until the day before the Daily Reward measurement date.
- [Ranking] Mission
- [Vesting] Mission
- 3.Check your rank on the Leaderboard: https://leaderboard-clubrare.softr.app/
- A new leaderboard system will be updated in August 2023.
- 4.Mission Period: August 3 - 31, 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.)
- 5.Reward Distribution
- Distribution Dates for Top 300 High Score Participants: Every Monday to Friday
- 1.The first reward distribution for the Top 300 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.
- 2.In the event that two or more participants achieve identical scores, the participant who joined the platform at an earlier date will be given a higher ranking.
- Token Burning and Vesting Reward Distribution Dates: Every Monday, Wednesday, and Friday
- 1.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.