v1 Rewards Distribution announcement

v1 Rewards distribution announcement
v1 Rewards distribution

Following the release of Bepro Network v2, we began assigning the v1 rewards as previously announced this week.

For the next six months, we will distribute $BEPRO tokens to v1 users via the Moonbeam Network on a monthly basis.

This formula will consider the user’s activity on v1, taking into account their actions such as staking and delegating $BEPRO, creating, disputing and solving bounties.

As established on our roadmap, each user can earn a maximum of 2M $BEPRO tokens and the maximum token distribution for all users of v1 is 500M $BEPRO.

“We are grateful to our supporters that invested their time and money in Bepro Network over the years and we’re excited to start distributing $BEPRO tokens.” said Mário Alves, CEO and co-founder of TAIKAI Labs.
“We have a bright future ahead and we’re working hard to make the bounty network one of the biggest web3 references.”

How are the rewards calculated?

$BEPRO tokens will be distributed based on a formula developed by our team. We used a point-based system to attribute tokens, with a ratio of 1:50 (point to $BEPRO).

As mentioned earlier, there are several actions that award points, which are then converted to $BEPRO:

  • Points per delegation = .005;
  • Points per delegated token = .01;
  • Points per unused token = .00001;
  • Points per locked token = .01
  • Points per dispute token = .002;
  • Points per closed issue = .2;
  • Point per proposal = .1;

Based on this formula, we summed up the points and multiplied them by the ratio defined above. You can learn more about the formula here.

Should I contact the team in order to receive my tokens?

No need! The transfer will happen automatically during the course of each month, until the 6-month vesting is completed, using your user’s wallet through the Moonbeam network.

However, if you have any questions, our team will be glad to help you through our Telegram group or Discord.

On a final note, when v3 is released we will probably use a different methodology to distribute tokens to v2 members, as for v1 the main objective was testing, and for v2 it’s adoption.

Stay tuned!

Follow us on Twitter and join our Discord community to keep up with Bepro Network updates!

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Bepro Network

Bepro.network is a decentralized web3 protocol to provide SDK development and support for blockchain-based applications.