Announcing TeleportDAO’s Ecosystem Reward Program on CoinList

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Are you interested in battle-testing new crypto networks and earning rewards?

Today, we are announcing TeleportDAO’s Ecosystem Reward Program. In an effort to stress-test and gather product feedback, TeleportDAO is offering 2% of their token supply to qualifying participants.

TeleportDAO is a trustless bridge that connects Bitcoin to EVM chains. It is a light-client bridge that moves data between chains and is live between Bitcoin and Polygon. This enables dApps on Polygon to access the data of Bitcoin. Two dApps have been built on top of the TeleportDAO bridge: TeleSwap and TeleOrdinal.

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Testnet Overview:

Rewards:

A total of 20,000,000 TST, representing 2% of the overall token supply, is reserved for this reward program. Half of the program’s token allocation (10,000,000 TST) is reserved for TeleSwap participants, and the other half is reserved for TeleOrdinal participants.

For each dApp, participating users will be ranked based on the volume of on-chain activities attributed to their wallet address. Teleswap users will be ranked based on their trading volume, whereas TeleOrdinal users will be granted points based on Ordinal buying and selling activity.

For each dApp’s leaderboard:

  • The top 30 participants will receive 20,000 TST
  • The following 970 participants will be allocated 9,500 TST
  • TeleportDAO will randomly choose 100 users from the rest of the pool to be eligible for a 1000 TST reward

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 on the deal page.
  • Eligible recipients will be required to complete KYC verification to qualify for rewards.

Timeline:

The program will run for approximately one month, beginning October 10th, 2023, to November 10th, 2023. The timeline is subject to change at the sole discretion of TeleportDAO.

About TeleportDAO:

TeleportDAO is the most secure, decentralized, and capital-efficient bridge.

TeleportDAO is a secure and trustless infrastructure that connects blockchains together. Using TeleportDAO, users can move any data (e.g., messages like contract calls, or assets like tokens, NFT, etc.) from one blockchain (called source chain) to another blockchain (called target chain). TeleportDAO does this in a trustless manner and works between any programmable and non-programmable blockchains.

Two dApps have been built on top of the TeleportDAO bridge: TeleSwap and TeleOrdinal.

  • TeleSwap is a trustless cross-chain liquidity protocol that enables bridging and trading BTC with the highest security and decentralization.
  • TeleOrdinal is a pioneering, trustless marketplace for Bitcoin NFTs (“Ordinals”). It stands out as the first marketplace to enable Ordinals auction participation and stablecoin bidding, all powered by the TeleportDAO bridge.

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