Power Tokens are special reward tokens released as a part of
the TimeAlly contract. Power tokens are different from EST in that they are
reward tokens and essentially meant to be re-distributed by the TimeAlly
holders to appreciate new members and skills.
Power tokens are released as a part of the NRT pool. They
are allotted to the TimeAlly contract holders who have invested in the contract
on the first day of the time span. These users have to re-distribute their
power tokens among their community members, in a completely fair and honest
way, as a reward/gift for their service, contribution and efforts in growing
the Era Swap Ecosystem.
When a user sends tokens to another user, the particular
amount is deducted from their wallet (token database) and added to the wallet
of the receiver.
Wondering what the concept or purpose is behind all this?
The primary purpose of power tokens is to enable an ecosystem where powerful
people (contract holders) can support new talent and skills (community members)
by rewarding them for their efforts in a completely unbiased way. This will not
only help nurture new talents but also it will encourage more people to
participate in the system and help grow the society.
Where and how
are Power Tokens used?
l
Power tokens are used by TimeAlly holders to
reward the efforts and contribution of their community members. The allocation
of rewards is done in a completely transparent manner to ensure that power
tokens are distributed according to the members’ reputation and actual
contribution, and not in the form of a favor.
l
Power tokens are given as a reward to the
community members for every upvote on their Swapper Wall. The user who upvotes
can select the number of Power Tokens they wish to give away through that
upvote.
l
Power Tokens can also be used for making a
donation to a charity case listed on the platform. A user can spend all their
power tokens here.
Power Token
Rules and Restrictions
The release, transfer and use of Power Tokens are governed
by the following rules.
The release of new
Power Tokens: New tokens are released every year. 10% of the total NRT
(Newly Released Tokens), i.e. 20% of the TimeAlly tokens, are designated as
Power Tokens. These are given to the users who have vested in the TimeAlly
contract.
Validity: Power
tokens have a time span of 30 days. Unused tokens are burnt permanently if not
re-distributed or used within 30 days of release. Reserved power tokens from
the pool are also burnt after 30 days.
Power Token
Distribution: A holder of Power Tokens cannot give more than 15% of the
total tokens to any single member within a time frame of 60 days. This is to
avoid favouritism in reward token distribution and to ensure that power tokens
do not accumulate with any one user. 50% of the reward tokens are paid in
liquid while the remaining 50% are vested back in the Smart Contract.
Power Tokens will help and promote new skills and talents,
rewarding them for doing a good job and motivate them to do better in future!
Visit https://eraswaptechnologies.com/ for more details.
No comments:
Post a Comment