This is version 2.2 of the Grindery Reward Program available as of 17.05.2024
The Grindery Reward Program for our Wiki documentation on Notion incentivizes community participation by allocating 280,000,000 GX tokens (worth $18,000,000 USD) for users. Starting June 1st, participants can earn G1 tokens by signing up, referring others, and engaging in promotional activities on X.com using the BuzzBot. This updated system addresses previous challenges, such as exploitation and high gas costs, by implementing Proof of Work validation, ensuring fair rewards distribution aligned with our growth objectives.
Program Overview
- Token Allocation: A total of 280,000,000 GX tokens (worth $18,000,000 USD) has been allocated for community rewards.
- G1 Tokens: Users can start earning G1 tokens and exchange them for GX tokens starting June 1st. The Initial DEX Offering (IDO) participation is to be defined yet.
- Earning Methods: G1 tokens can be earned by joining the program, referring users via personal affiliate links, and participating in promotions on X.com using the BuzzBot.
- Distributed Rewards: To date, 60 million (60,000,000) G1 tokens have been distributed. An additional 260 million (260,000,000) tokens are reserved for this next phase.
How the Program Works
- Go and Earn: Users collect G1 credits by signing up, referring others, or participating in various activities.
- Proof of Work (POW) Unlocks Claiming: Once a user earns more than 1,000 G1 credits, they can start claiming G1 tokens, which will be deposited into their wallet.
- Claim G1: Users can claim their earned G1 credits with a minimum claim of 500 G1 each time.
Earning Opportunities
- 100 G1 Sign-Up Bonus: Users who activate the @GrinderyAiBot receive 100 G1.
- 300 G1 Follow Us Bonus: Users who activate the @GrinderyBuzzBot, follow Grindery on X.com, and like or repost content receive 300 G1.
- 30 G1 per Like/Repost: Users earn 30 G1 for each like or repost of content shared via @GrinderyBuzzBot.
- 200 G1 Referral Bonus: Users referring others via personal affiliate links receive 200 G1 when the referred user completes the Proof of Work (POW (earning 1,000 G1).
System Improvements and Key Changes
The initial Reward System 1.0 encountered several challenges, including:
- Exploitation: Users creating multiple accounts and using automated scripts.
- High Gas Costs: Frequent, small rewards led to disproportionally high transaction fees.
- Misalignment with Growth Objectives: The initial system did not fully support our core growth goals.
To address these issues, the new system has implemented the following changes:
- SMS Validation: The previous SMS validation method led to high costs and ineffective user validation. The new system replaces this with Proof of Work (POW) validation for all users.
- Affiliate Rewards: For users completing SMS validation, rewards will be paid out as previously. Users who did not complete SMS validation can now complete POW validation to trigger affiliate rewards.
The new system ensures fair reward distribution and better alignment with our growth objectives, rewarding users who actively contribute to the community.
By participating in the Grindery reward program, users can earn significant rewards while supporting the growth and development of our community.