📢 Testnet Update | Rewards and FAQ

:heart: We’ve been overwhelmed by your support, and to make sure as many people can join & earn $CTC rewards as possible, we’ve got some exciting news to share…

:ocean: Wave 2 applications OPEN!
:nerd_face: New Testnet FAQ
:trophy: 2x Prize Pool

Learn more :point_right:

This tweet will summarise the key changes and updates. Note: YOU MUST head to the announcement for more details on how to apply to Wave 2.

:warning: Validator Community Notice: In order to increase transparency and help us monitor Testnet activities, we are requesting that all Validators link their on-chain identity to their Discord IDs. Check the FAQ in the announcement doc for more instructions.

Updated Rewards

Having listened to your community feedback surrounding Testnet rewards, we’ve re-assessed the rewards structure to ensure that more of you can join the Testnet and that rewards can be distributed as fairly as possible!

As a sign of our appreciation, we’ve doubled the overall prize pool for both Nominators and Validators, with up to 400k $CTC now up for grabs :hugs:

Let’s dive in :point_down:

Nominator Rewards

If you’ve already received your Nominator tokens, then you have successfully applied to ‘Wave 1’. If you made it into Wave 1 then you cannot apply to Wave 2.

:point_right: Wave 1 Rewards: The first 1,000 active Nominators in Wave 1 will still receive up to 100 mainnet CTC tokens each. To claim your prize, you’ll have to fill out a simple form at the end of the Testnet.

:point_right: Wave 2 Rewards: We will re-open a second wave of applications with Season 2 including various qualifiers. Nominators who apply in Season 2 will share a prize pool of 100,000 CTC, split equally between ALL active Wave 2 participants.

:point_right: How to apply to Wave 2: Head to the linked announcement for more information. Please remember that you can only apply to Wave 2 if you have not already received any Testnet tokens.

Validator Rewards

Our original reward structure did not fairly incentivize the recruitment of more Validators or distribute rewards fairly based on Validator activities throughout the testnet. Thank you to our Credit Penguins for providing this feedback - super helpful :pray:

:point_right: Reward 1: We wanted to make sure we honoured our initial commitment. That means, we’re still giving away up to 100k in CTC to the top 50 active Validators, determined by the final Testnet snapshot. But, we’ve now got another reward worth 100k planned too…

:point_right: New Reward 2: To reward all Active Validators throughout the Testnet, we’ll be splitting a pot of 100,000 mainnet CTC between each Validator according to their Testnet activity, enabling more of you to set up nodes and earn rewards!

We hope you like the updated Reward guidelines. Please consult the official Testnet Update Announcement for more information.

FAQ Questions…

:question:How do I set my on-chain identity to my Discord ID?
:question:What counts as participation in the Creditcoin forum?
:question:How long will the Testnet run/do I need to run my Validator node?
:question:Can I run multiple Validator nodes?
:question:How do I payout node rewards? And why does this transaction cost CTC?
:question: I applied to become a Validator, but now I want to Nominate instead. What should I do?

:heavy_plus_sign: More….


So amazing to seen it . That’s Lovely :heart_eyes:


This should be known by everyone in community🍥


Boleh juga sih ini mah


Good projects sir Soon mainnet


Interesting, this will make the community grow💪


Hi, Attempted nominator staking mulitple times resulting in error. I am set to the right chain and have attempted both optimal and favourite staking methods


Thnak you so much For this info


:money_mouth_face: x2 it truly listens to the community


Moga aja dapet gue :grin::+1:


Thnak you so much For this informaton sir


Fantastic I m Ready to join Wave to , LFG CreditCoin very good


Thanks for the hard work. :innocent:


interesting, great project guys


Amazing Project. very goooooood


really would love to know how the nomination works