Friday, July 12, 2024
Blockchain

Taiko (TAI) Launches Trailblazers Program with 12 Million TAIKO Prize Pool






Taiko has announced the launch of its Trailblazers program, which introduces a substantial reward pool of 12 million TAIKO tokens for users and decentralized applications (dApps) on its platform. According to Taiko, the program is designed to incentivize participation and engagement within its ecosystem over a three-month period.

How Does It Work?

The Trailblazers ranking system commences immediately, allowing users to earn XP points through various on-chain activities. These activities include bridging ETH and ERC20 tokens, transaction volume involving ETH and USDC, transaction count, and block proposals. Users can also collect faction badges, which act as XP multipliers, enhancing their overall rank and reward potential.

Taiko has retroactively assigned XP to users since the mainnet launch, ensuring early adopters receive credit for their participation. However, users should be cautious with faction badges, as selling them mid-season results in a loss of the corresponding XP multiplier. Conversely, purchasing NFTs mid-season will reflect accumulated XP in the user’s profile immediately.

Ranking Structure

The ranking system employs a dynamic percentile model, where participants are categorized into levels based on their XP. Higher levels receive exponentially greater rewards, with the top two tiers sharing a pool of 1 million TAIKO tokens. The remaining 9 million tokens are distributed across other levels, rewarding users proportionally to their engagement and activity throughout the season.

This non-linear reward distribution promotes active participation, motivating users to increase their XP and achieve higher ranks. The more active a user is, the better their chances of securing significant rewards by season’s end.

dApps Participation

In addition to user engagement, the Trailblazers program also incentivizes dApp developers. The program tracks activities such as Unique Active Wallets (UAW), total transactions, gas usage, and Total Value Locked (TVL). Various campaigns and competitions will be held specifically for dApps, with a bridging competition kicking off the initiative.

For dApp developers, 2 million TAIKO tokens are allocated as rewards, encouraging innovative applications and increased activity on the Taiko platform.

Rewards and Distribution

Throughout the three-month season, 12 million TAIKO tokens will be claimable. Users will compete for 10 million TAIKO tokens, with the top two levels receiving a substantial portion of the rewards. The remaining 2 million tokens are designated for dApps, fostering a vibrant ecosystem of applications on the Taiko network.

At the end of each season, eligible users can claim their rewards during a 30-day claiming period. To maintain fairness, all participants’ XP will reset, although a small bonus will be granted based on the previous season’s XP.

Security and Fairness Measures

Taiko has implemented several measures to ensure a level playing field. There is a daily cap on points per category, preventing any single user from monopolizing the rewards. Sybil detection mechanisms will be in place to identify and blacklist fraudulent addresses, ensuring genuine participation.

In summary, Taiko’s Trailblazers program aims to drive engagement and innovation on its platform by offering substantial rewards to both users and developers. Through a dynamic ranking system and a fair distribution model, Taiko is fostering a competitive yet inclusive environment for its community.

Image source: Shutterstock

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