After KYVE’s incentivized testnet’s journey came to an end on August 3rd of this year, our Community team took it upon ourselves to go through the top 10k users and their submitted tasks a second time in order to ensure no cheating or miscalculation of points took place. That’s right, the top 10k out of 43k+ total users on the Leaderboard will be rewarded depending on their efforts and contributions!
With over 26k previously-accepted tasks submitted by just the top 10k users, we had our work cut out for us! But we’re pleased to finally announce that the final review is officially complete, and we’re ready to explain the leaderboard ranking and the next steps for reward distribution!
Reviewing the Top 10k
Overall PointsDuring the review period, the points on the Leaderboard fluctuated. Now that it’s complete, the points are final, and users can see their awarded points and Leaderboard positioning by visiting theKYVE App, or directly fromArweave. In total for the top 10k users on the Leaderboard, there were 68,946,994 Mission Korellia points distributed:
Rewarding Badge HoldersAs mentioned in the previous months, special badges have been given out to those who have experimented on the KYVE testnet before Mission Korellia. For example, the Moonbase Badge was given to users who had a node running on KYVE when it was based on Moonbase Alpha. The Cosmos Badge was given to users who had a node running during the current version of KYVE, before the incentivized testnet. And finally, the OGs Badge, given to users that have claimed via the KYVE faucet, before the incentivized testnet.
In order to reward these dedicated users for having given their support for so long, certain points have been distributed to each badge holder: The Cosmos badge holders received 150 points each, Moonbeam badge holders 100 points each, and OG badge holders 50 points. Of course, we want to thank these users for their support, but we decided to keep the reward amount quite low in order to give a chance to those who are new to KYVE to make it into the top 10k leaderboard.
With that being said, see below the awarded points for badge holders:
Giving Back Certain PointsMission Korellia’s goal was for our community to come together and put KYVE’s capabilities to the test, find as many issues or bugs and help ensure the protocol and chain are as efficient as possible for mainnet.
Therefore, during this time, users may have run into certain issues like inactive pools or incorrect slashing. As this was the third-party provider’s fault, we compensated these users for running into these issues. A total of 4,379,500 points were distributed to users that experienced these situations.
Removing Fake, Cheating, or Deleted AccountsWhilst re-reviewing each user and their submitted tasks, our team also had their eye out for any cheaters or copiers. In total, we removed over 1,200 fake and cheating accounts from the top 10k that attempted to take advantage of the system.
Before Mission Korellia started, our team agreed on a basic standard required per task. For example, including your KYVE address in the content, quality audio and visuals for videos, content about KYVE to actually include insightful information about the project and not just copy-paste, etc.
Other removals were based on:
Now that the newly updated points distribution is clear, let’s explain exactly how this translates into $KYVE rewards…
Rewards Distribution
20 million $KYVE tokens have been dedicated to rewarding Mission Korellia participants. To be as fair as possible, we found that dividing the reward pool into three parts was the best option. There is Pool A, which includes the top 5,000 users on the leaderboard, then Pool B which includes all users in the top 10k. And finally, one part is dedicated to the top node runners. The vesting for these rewards will start at 8.33% starting at TGE through the following 11 months, then 8.37% on the last month.
See the exact distribution below:
Pool A has a specific breakdown by ranking:
In Pool B, each participant ranking 1 to 10,000 will receive 500 $KYVE tokens. For example, a user with the rank 600 would receive a total of 2,300 $KYVE tokens (1,800 from Pool A + 500 from Pool B). Whereas someone with the rank of 6,500 would only receive 500 $KYVE tokens.
In regards to the top node runner rewards, this information will come in the following weeks with more precisions and exact details.
What Comes Next?
We’d like to thank everyone who participated in Mission Korellia, not only for your support and enthusiasm, but also for your patience! This final review of the top 10k tasks has taken us a lot longer than expected, however, we stand by making sure every single participant gets the rewards they deserve and our community is tended to in every way possible.
The next major step in the IT roadmap would be the KYC check, ensuring that each person can properly claim their tokens. We ask again for a bit more patience, exact details on this event will be provided in the near future, as our team is ensuring the process will be as smooth and secure as possible.
Quick reminder, now that KYVE’s incentivized testnet is over, KYVE is back on testnet. Currently, there are no rewards to gain when participating in our protocol, however, our team has a few events prepared in the future to reward those who continue participating and helping perfect KYVE before mainnet launch. So better stay tuned!
About KYVE
KYVE, the Web3 data lake solution, is a protocol that enables data providers to standardize, validate, and permanently store blockchain data streams. By leveraging permanent data storage solutions like Arweave, KYVE’s Cosmos SDK chain creates permanent backups and ensures the scalability, immutability, and availability of these resources over time.
KYVE’s network is powered by decentralized uploaders and validators funded by $KYVE tokens and aims to operate as a DAO in the near future. This past year KYVE has gained major support, currently backed by top VCs, including Hypersphere Ventures, Coinbase Ventures, Distributed Global, Mechanism Capital, CMS Holdings, IOSG Ventures, and blockchains such as Arweave, Avalanche, Solana, Interchain, and NEAR.
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