July 2023 - MPWR Reward and Burn

First and foremost, we want to extend our heartfelt gratitude to all our community members for their unwavering support of ClubRare and their active participation in our newly launched social commerce platform!

ClubRare is an innovative platform that connects social media experiences with e-commerce through the integration of Phygital NFTs, all powered by Web3 technology. Our aspiration is to become a leading player in the international social commerce market, and we genuinely believe that MPWR tokenomics will be instrumental in driving the platform's growth. Our primary focus is to simplify the onboarding process for new users by allowing them to experience the platform's core features through participating in a variety of missions. We plan to continue refining these missions and participation methods, and to further energize the platform with community feedback and enhanced marketing efforts.

Now, without further ado, let's dive into the details of the reward structure for our missions in July:

1. Reward Calculation Method

1. The top 100 participants, who have accumulated high scores by successfully completing missions, will receive rewards daily.

   Rank (by Score)	Boost
   1-25	4x
   26-50	3x
   51-75	2x
   76-100	1x

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.

   1. [Ranking] Mission

      Mission	Score (Per Unit)	Remarks
      Sale of a Phygital NFT Item	300	- Minimum sales price: 3,000 MPWR - Only items sold in 2023 are eligible. - Only items sold using MPWR are eligible.
      Purchase of a Phygital NFT Item	300	- Minimum sales price: 3,000 MPWR - Only items sold in 2023 are eligible. - Only items sold using MPWR are eligible.
      Purchase of a ClubRare Phygital NFT Drop (Exclusive Curation of Premium NFTs)	1000
      Number of Participated Bids in Phygital NFT Auction	100	Only items auctioned off in 2023 are eligible.
      [My Profile] Number of Followers	10	The number of followers increased compared to the previous period of the mission
      [My Profile] Number of Follows	1	The number of followed increased compared to the previous period of the mission
      [My Profile] Number of Reactions	10 (per five units)	Only the number of reactions increased compared to the previous period of the mission
      Newly Connected Wallets	100
      Daily Wallet Connect	1

   2. [Vesting] Mission

      Mission	Remarks	Vested MPWR to be Burned
      Daily Wallet Connect	If the wallet is not connected to the platform daily, the related vested MPWR reward will be burned.	-50,000
      [Weekly-Basis] Sales or Purchases of Phygital NFT Items	If no Phygital NFT items have been bought or sold for more than a week: - Only Phygital NFT items sold or bought with a minimum of 3,000 MPWR per item are eligible. - If a wallet is inactive for a week, the related vested MPWR reward will be burned the next Monday.	-50,000
      [My Profile] Number of Followers	If the number of followers decreases compared to the previous vesting date (reward distribution date), the related vested MPWR reward will be burned.	-10,000

      1. Existing Users: Since activities already completed by existing users count as mission successes, these users will enjoy additional benefits.

      2. New Users: Bonus points will be provided to new users as a warm welcome to the community.

3. Check your rank on the Leaderboard: https://leaderboard-clubrare.softr.app/

2. Mission Period: July 13 - 26, 2023

1. 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

1. Distribution Dates for Top 100 High Score Participants: Every Monday to Friday

   1. 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.

   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.

2. 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.