REWARD: MEEDS POINT OF SALES.
Meeds Overview
Meeds wants to transform the way we operate. Meeds, a non-profit organization founded in 2020 by multiple open-source software publishers, aims to address the issue of work disengagement worldwide.
The founders of Meeds are currently attempting to realize their vision with the aid of the Meeds builders community using web3 technology, having previously published it in a white paper.
The open-source software that powers the Hubs and the Word of Meeds (WoM) is currently developed under the direction of the Meeds Association. Additionally, it controls the distribution and issue of the seed token, for which the Swiss Market Authority (FINMA) has granted it legal status. With the help of Meeds stakeholders, the Meeds Association hopes to create a decentralized autonomous organization that will eventually transfer control and management to the community.
Rewards can take many different forms and are frequently linked to particular platforms or behaviors within the cryptocurrency ecosystem. The following are a few typical incentive categories in the cryptocurrency space:
Mining Rewards: Miners that successfully add a new block to the blockchain are rewarded with freshly minted coins and transaction fees in PoW-based cryptocurrencies .
Proof-of-Stake (PoS): To secure the network and verify transactions, users of PoS-based cryptocurrencies are rewarded for holding and “staking” their coins.
Staking Benefits: Certain cryptocurrencies enable users to stake their coins in order to support the network and receive incentives in the form of more coins, particularly those that use PoS or Delegated Proof-of-Stake (DPoS) consensus processes.
Masternode Benefits: Some cryptocurrencies feature nodes called masternodes, which are nodes that carry out extra tasks for the network. Masternode owners frequently get paid for their labor.
Rewards for Liquidity Providers: Users that contribute liquidity to liquidity pools on decentralized finance (DeFi) platforms may be rewarded with extra tokens or a portion of the transaction fees the pool generates.
Airdrops: Free tokens are occasionally given out by cryptocurrency projects to community members or current holders. This is frequently done to thank devoted users or to promote a new initiative.
Token Rewards: To encourage users to engage with the ecosystem, complete specific tasks, or make other contributions, several projects offer native tokens.
Rewarding Community and Social Media Engagement: Users who actively participate in their communities, promote the project on social media, or contribute to conversations can receive rewards from certain initiatives.
Programs for Loyalty: Depending on their trading or usage activity, customers can earn prizes or discounts through loyalty programs offered by certain cryptocurrency exchanges and wallets.
Reward on Meeds
By gamifying digital work tools and assigning points and needs based on job involvement, the WoM will tokenize user engagement. Services that are integrated with the engagement and reward engine award points to each user based on their level of participation and in accordance with the engagement initiatives of each Deed. Indeed, the number of points awarded for any kind of activity may be precisely adjusted by each Deed. For example, an IT shop may receive 10 points for releasing code to GitHub, but a digital agency may only receive 5 points for the same activity but would reward 10 points for retweets.
The rewarding engine distributes Meeds based on budgets and other parameters on a periodic basis, converting engagement points into them. The users are then rewarded through their wallets. The Deed may utilize the engagement system to enable another type of compensation program; it is not necessary for the Deed to distribute Meeds. Distributing Meeds, however, will increase its ability to mint.
Furthermore, since it will obtain Meeds from the “mintium” mechanism, which is explained below, the Deed does not necessarily need to acquire Meeds in order to distribute them and support its engagement initiatives.
It will be feasible to distribute more tokens based on the same engagement mechanism in addition to Meeds, such as the DAO’s own tokens. If so, the Meeds Association will get a 5% transaction fee (in DAO token) on the payout.
Tokenize work involvement with the “mintium” model
Through an inventive mintium concept, Deeds is rewarded for involving its users in the WoM. The global engagement index is determined by the Meeds Association using the engagement points that users of the Deeds have accrued. For every Deed, the index applies the same concept. The Deed may alter the distribution of points to favor one course of action over another, but the computation of the global index will not take those modifications into consideration. Meeds.io
A specific number of Meeds are allotted each week to the WoM’s worldwide involvement minting. It is distributed, pro rata, each week among the involved Deeds. Certain Deeds gain more power based on what kind they are. Throughout the week, the Deeds who claim their Meeds are awarded them. The global distribution amount for the next week is increased by the unclaimed Meeds.
The score for involvement S of a Deed depends on the distribution, number of engaged users, and engagement:
𝑆 = (𝐸𝑑/𝐸𝑤) ∗ 𝐷𝑟 ∗ 𝐷𝑠 ∗ M
• 𝐴 = Activity ‑ total number of actions that users have accrued throughout the week within the Deed. Every action is translated into engagement points at each Deed’s level, with some actions having a higher weight than others. Each and every operation is linearized at the index level.
• 𝑈 = Engaged users ‑ people who at least once during the week contributed to points.
• E𝑑 = Deed engagement rate ‑ actions per user (𝐴/𝑈)
• 𝐸𝑤 = Mean interaction rate of all active Deeds in the World of Mutual Aid.
• 𝐷𝑟 = Distribution rate ‑ the percentage of minted Meeds that were given to a Deed’s users over the previous period. In the event that the distribution is delayed, the percentage may exceed 100.
𝐷𝑠 = Distribution spread ‑ the percentage of users in the entire user pool who received Meeds if a Deed received minted Meeds for the previous period.
• 𝑀 = Deed’s Minting Power as stated in 2.3
The interest of the Deeds and their users are aligned in a virtuous income sharing circle, since the Deeds get Meeds as rewards and are incentivized to redistribute them as incentives to their users in opposition to their participation. Consequently, the WoM presents a new work paradigm that recasts the employer-employee dynamic as a partnership.
The unique “mintium” concept surpasses the conventional free model in that it rewards both the companies and the customers for utilizing the services, in addition to offering them at no cost.
For more details visit:
https://www.meeds.io/
