Dear Equilibrians, the time has come for a long-awaited community update. As promised, we’re revealing our Activity Support Program designed to reward the most active users of our Closed Beta.
As previously announced, participants with the largest virtual portfolio value will be rewarded when Beta ends. Rewards will play out differently for individuals and teams competing in the rewards scheme — let’s take a deep dive into its details.
An individual or a team player?
Whether you decide to compete individually or additionally become a part of some team, you need to apply for the Closed Beta by filling out this registration form.
At the bottom of the form you will be asked to submit a community code. If you don’t have one, that’s okay. It will not affect your chances of acceptance to the Closed Beta.
However if you do present a code, you will be considered a member of the team to which this code belongs. A team forms if there are at least 30 users with the same code accepted for the Closed Beta.
We assigned community codes to multiple Dotsama communities and projects, which will spread them across their social channels. Which exactly? Please, follow our joint announcements on our socials.
Being a team player allows you to participate in several qualifications during Beta and enables more options for getting rewarded.
Equilibrium team
Equilibrium team members will receive higher rewards than others.
There is no community code to join the Equilibrium team: you must submit the application using the Polkadot address spotted in our previous events. Your Polkadot address should be listed in at least one of these events:
- NUT/EQ token swap
- PLO Phase 1 whitelist
- PLO Phase 1 contributions
- Genshiro crowdloan whitelists
- Genshiro crowdloans 1/2/3
- Genshiro closed beta
- Republic whitelist
- Republic event
Qualification mechanics
As you may already know, we will qualify users based on the final value of their virtual portfolio at the end of the Closed Beta. These numbers will become a foundation for three layers of qualification of the Activity Support Program:
Individual qualification
By default, all 500 Beta users are participating in the ‘Individual’ qualification. At the end of the two weeks of the Closed Beta, they will be ranged by the value of their portfolio, and the top 50 of them will receive rewards in EQ tokens.
Here is how users of this qualification will get rewarded:
Individual team qualification
Each team will run its own so-called ‘Individual team’ qualification. According to it, the top 10 active team members get rewards accrued on top of others. For instance, if a user is qualified to get rewards in the ‘Individual’ qualification while becoming top-10 in their team, they will get rewards in both qualifications.
The reward schedule for this qualification looks as follows:
Team qualification
Lastly, the third ‘Team’ qualification will define the “Champion Team” with the most cumulative balance of its top 10 active members. This team will share the grand prize distributed to members pro-rata of their individual portfolio value at the end of Beta.
Members of the “Champion Team” receive grand prize on top of all rewards in other qualifications. As such, a “Champion Team” member who became top-10 in his team and was included in top-50 in the overall classification will get maximum possible rewards.
Stay Up to Date
We’ve been extensively building for the past 2.5 years, and it’s great to see how this comes together. It’s definitely an exciting time for our community now and we would love to keep everyone on track of the Closed Beta progress.
Our next articles will introduce a few use cases on our platform that will help you grow your virtual portfolio during Beta. Stay tuned!
About Equilibrium
Equilibrium is a one-stop DeFi platform on Polkadot that allows for high leverage in trading and borrowing digital assets. It combines a full-fledged money market with an orderbook-based DEX. EQ is the native utility token that is used for communal governance of Equilibrium. xDOT is a liquid and tradeable wrapped DOT that unlocks liquidity of DOT locked in parachain auctions and delivers multiple crowdloan bonuses on Polkadot.
Join Equilibrium on Telegram, News Channel, Twitter, Medium, Website, GitHub
Equilibrium Closed Beta: Rewards Revealed! was originally published in Equilibrium on Medium, where people are continuing the conversation by highlighting and responding to this story.
