Announcing Phase 2 of TeleportDAO’s Ecosystem Reward Program on CoinList
TeleportDAO, a CoinList Seed company, is a trustless bridge that connects Bitcoin to EVM chains.
Following a successful Phase 1 of TeleportDAO’s Ecosystem Reward Program, where over $5.9M was traded in Bitcoin and over $630K worth of Ordinals were bought and sold, TeleportDAO and CoinList are excited to announce Phase 2 of the Program.
In an effort to stress-test and gather product feedback on the addition of new chains, including Binance Smart Chain, Arbitrum, Ethereum, and Optimism, TeleportDAO is offering 1.011% of their token supply to qualifying participants.
Rewards:
Total reward: 10,110,000 TST tokens (1.011% of the total token supply)
500 participants from each leaderboard will receive TST rewards. The reward amount scales according to the participant's rank on each leaderboard, with rank 1 earning the highest reward and rank 500 earning the lowest reward. The formula for the reward of rank X (where X is the participant’s place on the leaderboard, ranging from 1 to 500) is as follows:
Reward of rank X = 5,000 + 20 * (501 - X)
Example:
- Rank 1: 15,000 TST
- Rank 250: 10,020 TST
- Rank 500: 5,020 TST
Additionally, 50 participants will be randomly selected from the remaining pool (from each leaderboard) to receive 1,000 TST.
For more information on how to accrue points for each leaderboard, please see the TeleportDAO’s Ecosystem Reward Program page here.
Eligibility:
There will be no limit to the number of participants; however, reward eligibility will be limited and defined by the approach described above.
Users must meet the following criteria to be eligible for rewards and participation:
- Certain jurisdictional limitations apply, as outlined by TeleportDAO’s terms and conditions and here.
- A Web3 wallet (e.g. Metamask) and Bitcoin wallet (e.g. Unisat) extensions for TeleSwap and TeleOrdinal use.
- To qualify for the reward, users must engage in the activities outlined in the Program Overview.
- Eligible recipients will be required to complete KYC verification to qualify for rewards.
Timeline:
The program will run from the announcement December 7th, 2023, until the snapshot is taken by the TeleportDAO team. The timeline is subject to change at the sole discretion of TeleportDAO.
Legal notice
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