Cøsmos Game of Tips — Cashback reward system coming to the Cosmos Tip-Bot.
The Cosmos Tip App is now integrated on Twitter and Telegram. Facilitating 4000+ tips in the first month alone since the Alpha launch of the App.
With Game of Tips we want to make use of the Cosmos staking model and implement a cashback system into the tip App that directly incentivizes the most active users of the Cosmos Tip-bot. The Cosmos Network currently has an average 9.8% annual inflation. These 9.8% get payed out on a by-block basis, giving people that stake direct access to inflation rewards. We want to make use of this feature & split up inflation rewards among the top-tippers of the Cosmos Tip-bot.
To be able to provide such a cashback, we need to raise ATOM donations first over a 30 day period.
Therefore, we are launching a donation campaign which is targeting to collect at least 9000 ATOM in donations so that we can provide a large cashback (Tip-back) to the 100 most active users on a monthly basis without diluting the cashback pool. The contributions will not only help us launch a monthly cashback distribution, but will help ensure long-term success with integrations, operational cost & marketing.
🟣 Cosmos Tip App is welcoming ATOM donations from the 22. June until 22. July 2020. After the donation window, the automated cashback system (Tip-back) will launch and the Game of Tips starts.
The goal is to stake the ATOM in the current publicly visible development pool/inflation pool address and provide the most active tip App users a cashback (Tip-back) on the 1st of every month.
This system will incentivize users of the Tip-bot to further actively engage in social media tipping and additionally provides a mechanism for long-term sustainability of the App.
🟣 How will the cashback (tip-back) work?
Donations will be staked for the coming years. Every month 70% of the pool inflation will be compounded/reinvested to counter the Cosmos Network inflation & prevent dilution. The other 30% inflation rewards will be put aside and allocated for (monthly cashbacks + new SDK asset integrations into the Cosmos Tip-bot).
On the 1st of each month the top 100 most active tip-bot users ranked by our formula which includes (total amount tipped + total tx volume +unique users tipped) will receive an automated tip "cashback" reward for their tip activity on Twitter and Telegram.
The top 100 ranking will be visible and updated in real time at cosmostipbot.com
Every amount donated now, helps us to make the Game of Tips even more competitive for all participants once the donation window is over.
Anyone that would like to support may donate to the donation pool address below*:
✅ Donation/Inflation Pool (Development address):
cosmos1ktfq8n50hu78uvfylwxveag3zpwtnmcs40q4p4
___________________________________________
*Disclaimer: Game of Tips is not a private sale, ICO or any other form of public sale. Instead this is an open donation window where we look for the Cosmos ecosytem and beyond to help donate to operations, cashback and long-term sustainability of the automated application. Without some basic funding, the growth of the Cosmos Tip App would not be possible as required resources cost a lot of money and time. We do not promise a compensation or any other form of garanteed claim from such a donation. In order to benefit directly from the cashback a user would have to compete organically in the Game of Tips though tipping on social platforms in order to move up a tier.
🟣 Cashback (Tip-back) example:
We have decided to divide the top 100 ranking into 4 tiers.
- Tier 1 - Rank 1-10 (31% share of inflation pool allocation)
- Tier 2 - Rank 11-30 (27% share of inflation)
- Tier 3 - Rank 31-60 (23% share of inflation)
- Tier 4- Rank 61-100 (19% share of inflation)
🟣 Game Theory (Example)
Tip cashback Inflation pool: 10000 ATOM are staked.
81.66 ATOM monthly inflation would be split up in the system so 70% gets compounded/reinvested* and 30% goes to towards (cashbacks & new tip-bot asset integrations)
These 24.50 ATOM allocated are channelled into 20% towards cashbacks and 80% for new Cosmos SDK asset integrations into the app.
Therefore, monthly 4.9 ATOM would be available for cashbacks and 19.6 ATOM available for integrations.
Example: At Tier 1 (10 people would receive/split 31% of the allocated 20% cashback reward pool)
ie. Each person in tier 1 therefore gets 0.152 ATOM at the first of each month automatically airdropped to their tip-bot address.
We expect that users will want to move up in tier, therefore engaging in increased tip activity on social media. Effectively enabling a social tip battle.
Help us make this initiative a reality 💜 We depend on public donations by validators, delegators and everyone that can and wants to ensure a long term sustainable way to incentivize the use of ATOM for social tipping.
We want to thank everyone that contributes & supports the Cosmos Game of Tips and the Cosmos Tip-bot.
Stay posted. We will bring frequent updates in the weeks to come, on how the Game of Tips donation round is progressing and the changes we are making to the website.
Feel free to reach out to us directly in the Community Group or Cosmos Alliance on Telegram.
Tip-bot Twitter: https://www.twitter.com/cosmostipbot
Tip-bot Telegram: tttttt.me/cosmostipbot
Web: https://cosmostipbot.com
Official Updates: T.me/Cosmostipbot_updates
Official Group Chat: T.me/Official_cosmostipbot
Medium: www.medium.com/@cosmostipbot
🟣 FAQ:
🟣 When does the Game of Tips donation window open?
On the 22. of June 2020 at 1:00 PM CET
🟣 When does Game of Tips start?
On the 22. of July 2020 at 1:00 CET after the donation window closes.
🟣 Do i need to register somewhere?
Users may register for a regular free tip-bot address on Twitter & Telegram.
🟣 What happens if the targeted donation goal is reached?
We will launch GoT on the 22. of July regardless and all additional donations will also be staked and used for the inflation pool redistribution.
🟣 How long will the Game of Tips last?
There is currently no end date set. The Game will continue long into the future.
🟣 Are there other means of sustaining the inflation pool?
Yes we plan to channel 20% of the current tip fees into the inflation pool which will help it regenerate. Additionally 70% of all inflation rewards are automatically compounded back into the pool each month.
