In the ever-evolving landscape of DeFi, MetalSwap has consistently demonstrated its commitment to innovation and community engagement. Following the successful implementation of the Recall Pool mechanism on the Mainnet - a significant stride in enhancing the utility and governance of XMT tokens from other blockchains to Ethereum - we are excited to introduce a new chapter in our journey.
In a move to recognize the invaluable contributions of our existing users and to invite new participants into our growing community, we are introducing the "MetalSwap Points Campaign". This system is crafted to quantify and reward interactions with our incentivised Testnet Smart Contracts.
The MetalSwap Points Campaign
This initiative emerges as a natural progression from MetalSwap’s latest Testnet, which not only allowed users to interact earlier with the Recall Pool feature but also marked a significant milestone in our protocol's growth. The enthusiastic participation of our community in testing the Recall Pool Testnet has been instrumental in fine-tuning this feature, ensuring its seamless operation and robustness.
More than 350 slots were filled and, by filtering some addresses belonging to developers for testing, we have a total of 301 slots taken into account for the allocation of Points.
As we edge closer to revealing a newer version of a feature previously tested (and successfully implemented), the intrigue deepens. Without revealing too much just yet, we assure you that this next phase will be not only a continuation of our journey but also a leap into uncharted territories of DeFi innovation.
For our new users, this is your moment to dive in and start accumulating MetalSwap Points. For our existing testnet users, your journey with us takes on a new dimension, as the points you've already awarded are just the beginning. The upcoming phase promises new smart contracts and interactions, presenting fresh opportunities to earn more points.
These points, accrued through your active involvement and pioneering spirit, will later translate into substantial rewards, highlighting our gratitude for your dedication to MetalSwap's evolution.
How MetalSwap Points are Distributed
MetalSwap Points are designed to quantify and reward user interactions with our Smart Contracts in the Testnet. Here's how points are currently being allocated:
- Participation in Recall Pool Testnet: For each of the 6 Recall Pools in our latest testnet, users who filled their first slot on either pool were awarded 10 MetalSwap Points per pool. This reward recognizes the significance of participating in these crucial test phases, where each interaction helps refine our features.
- Additional Interactions: Beyond the initial participation, every additional interaction within the same Recall Pool Testnet - such as securing an extra slot - earned users 2 additional MetalSwap Points.
Example
Alice engaged with two different Smart Pools on the Testnet. Her journey began with the first Recall Pool, where she secured one slot. For this initial interaction, Alice earned 10 MetalSwap Points.
Eager to explore more, Alice then participated in the latest Recall Pool, where she took three slots. For her first interaction in this pool, she received another 10 points. Additionally, for the two extra interactions in the same pool (securing the additional slots), she earned 2 points each, totaling 4 points for these additional interactions.
Combining her efforts across both Recall Pools, Alice amassed a Total of 24 MetalSwap Points (10 points from the first pool and 14 points from the latest pool).
Comprehensive List of Participants and Points
To maintain transparency and keep our community informed, we released on MetalSwap’s Govforum a comprehensive list of addresses that participated in our latest Testnet, along with the MetalSwap Points they've accumulated. This list will serve as a testament to the active participation of our community members and will pave the way for future rewards and recognitions.
MetalSwap Points go beyond mere numerical values; they embody the trust and effort our community puts into MetalSwap. As we evolve, these points will play a pivotal role in shaping the incentives and rewards within our ecosystem. They are a measure of your impact and involvement in the MetalSwap journey.
In the upcoming articles, we will delve deeper into how these points can be further accumulated in the next phase of our Testnet and the rewards that await our dedicated community members.
Stay tuned!
-The DeFi Foundation
✎ What is MetalSwap?
MetalSwap is a decentralized platform that allows Hedging Contract on financial markets with the aim of providing coverage to those who work with Digital Asset and an investment opportunity for those who contribute to increase the shared liquidity of the project. Allowing the protection for an increasing number of operators.
With Hedging Contract we enable hedge swap transactions through the use of Smart Contracts, AMM style.
It's great to Hedge the Risk of Price volatility with MetalSwap dApp !