Published in Rewards
Image credit by Dan Dan
Jenny Ai
November 28, 2024
Surprise 10K (1/10) Reward Distribution Understanding the Criteria and Process
We are excited to announce the first surprise reward distribution in our series of ten giveaways, totaling $10,000.
Introduction
We are excited to announce the first surprise reward distribution in our series of ten giveaways, totaling $10,000. This initiative is designed to recognize both the engagement and loyalty of our users, represented by tORBs, and their long-term value across blockchain networks, represented by their USD balances on mainnet chains. To ensure fairness and encourage active participation, we've adopted a 50/50 weighting system for distributing rewards.
Please note: Each surprise giveaway will reward users based on different criteria to ensure an equally balanced rewarding system for all users.
Key Highlights
50% Immediate Reward: Half of the rewards will be sent to users' wallets immediately.
50% Mainnet Launch Reward: The remaining rewards will be distributed at the time of the mainnet launch.
Minimum Reward: Users with less than $1 in total USD balance across the different chains will receive a minimum reward of $5 per wallet.
Sybil Attack Prevention: To maintain fairness and prevent Sybil attacks, excess funds from the minimum reward wallets will be cascaded to the next eligible users until the total reward pool of $10,000 is fully distributed.
The Rewarding Criteria
Our reward distribution system recognizes both active engagement and long-term value by equally weighting:
tORBs Holdings (50%)
Mainnet USD Balances (50%)
Why 50% Weightage to tORBs?
tORBs reflect a user's active participation and commitment to the platform. By assigning a 50% weightage to tORBs:
We incentivize engagement: Encouraging users to participate more actively.
We reward loyalty: Recognizing long-term supporters for their ongoing contributions.
Why 50% Weightage to Mainnet Balances?
The USD balance represents the total value of a user's assets across major blockchain networks such as Ethereum, BSC, Matic, Arbitrum, and Optimism. By considering these balances:
Acknowledging long-term value: Users with significant holdings are likely long-term participants in the blockchain ecosystem.
Incentivizing value holders: Recognizing users who maintain substantial balances encourages continued participation and investment.
Balancing engagement and value: Ensuring that both active participation (tORBs) and long-term asset holdings (USD balances) are valued equally.
Calculating the Rewards
Step-by-Step Calculation
Collect User Data:
tORBs Holdings: Total tORBs for each user.
USD Balance: Total USD value of each user's assets across Ethereum, BSC, Matic, Arbitrum, and Optimism.
Calculate Total Sums (Top 1,000 Users):
Total tORBs: Sum of all users' tORBs.
Total USD Balance: Sum of all users' USD balances across the mainnet chains.
Compute Individual Shares:
tORBs Share: For each user, divide their tORBs by the total tORBs.
USD Balance Share: For each user, divide their USD balance by the total USD balance.
Calculate Weighted Share:
Total Share: (tORBs Share * 0.5) + (USD Balance Share * 0.5)
Determine User's Reward:
User Reward: Total Share * Total Reward Pool
An Example Calculation
Total Reward Pool: $10,000
User A:
tORBs: 50,000
USD Balance: $5,000
User B:
tORBs: 150,000
USD Balance: $15,000
Totals:
Total tORBs: 200,000 (50,000 + 150,000)
Total USD Balance: $20,000 ($5,000 + $15,000)
Calculations:
User A's Shares:
tORBs Share: 50,000 / 200,000 = 0.25
USD Share: $5,000 / $20,000 = 0.25
Total Share: (0.25 * 0.5) + (0.25 * 0.5) = 0.25
User Reward: 0.25 * $10,000 = $2,500
User B's Shares:
tORBs Share: 150,000 / 200,000 = 0.75
USD Share: $15,000 / $20,000 = 0.75
Total Share: (0.75 * 0.5) + (0.75 * 0.5) = 0.75
User Reward: 0.75 * $10,000 = $7,500
Explanation:
Both users receive rewards proportional to their combined shares in tORBs and USD balances.
The 50/50 weighting ensures that both engagement (tORBs) and long-term value (USD balances) are equally considered.
Preventing Sybil Attacks and Ensuring Fairness
To create a fair playing ground and prevent Sybil attacks (where one entity creates multiple accounts to gain an unfair advantage), we have implemented the following measures:
Minimum Reward Threshold:
Eligibility: Users with less than $1 in total USD balance across the different chains.
Minimum Reward: These users will receive a flat reward of $5 per wallet.
Cascading Excess Funds:
Any remaining funds from the minimum rewards will be redistributed to the next eligible users.
This process continues until the total reward pool of $10,000 is fully distributed.
Rationale:
Fairness: Ensures that all users, regardless of their USD balance, receive a meaningful reward.
Security: Discourages malicious entities from creating multiple low-balance accounts to exploit the reward system.
Community Building: Encourages broader participation by providing a guaranteed reward to active users with minimal balances.
Stay engaged, keep contributing, and grow with us!
For any questions or clarifications regarding the reward distribution, please contact our support team or join our community discussions.
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