CommitPool Rewards Pilot Program
Greetings from CommitPool! Last month, we released a beta version of our fitness commitment app for private testing. Based on the feedback we’ve gotten from our community, we’ve made some pretty big upgrades, and will be releasing a new version soon. In the meantime, we have a few announcements that we’d like to share.
Open (public) Beta
We have decided to open the beta to the public in order to give it a more robust test, as well as gather as much feedback as possible. For those who are interested in participating, there are just a few things to keep in mind:
- Please join our discord server to ask questions, report bugs, or give us feedback!
- This app is still in beta, so it’s limited in functionality and has not been audited. This app should be considered buggy and potentially unsafe until further notice — we recommend keeping your commitments small until we have verified that all the kinks have been worked out.
- We are built on Polygon, so please double-check your network (especially when using metamask) prior to committing any funds. This means that you’ll also need $MATIC and Matic DAI for staking, as well as an Ethereum wallet and (for this beta) a Strava account for tracking your exercise progress. [Update, Oct. 19, 2021: We’re aware of the current network congestion on Polygon. All commitments &etc. are going through, but they may take a while (sometimes up to 8 hours) to process. Adjusting gas will alleviate this problem]
If you’re having trouble getting $MATIC or Matic DAI (or need help with Polygon use or gas adjustment), feel free to pop into our discord and we’ll help you get set up. For those who are already on Polygon and just want to test the app, the link is below.
Beta App: app.commitpool.com
Rewards Pilot Program
At the moment, our beta allows for staking some DAI on an exercise goal, and the mechanics are simple: if you meet your goal, you get your DAI back — but if not, you forfeit your stake.
Our ultimate goal, of course, is to reward successful committers for meeting their goals. In the final iteration, slashed stakes from those who fail to meet their commitments will be divided amongst those who are successful. This “Pooled Model” is in progress, but we want to incentivize people to succeed now.
To that end, we’re sending 2 DAI (and 100 $MITCOIN, a CommitPool token) for each successful eligible commitment until November 30th, 2021. Please read the rules (and rationale for each rule) below.
Eligible Commitments must:
- Complete before 23:59 (11:59PM) UTC on November 30, 2021
- Stake at least 5 DAI over at least 3 days
- Cover at least 4 miles (6.44 kilometers) running or 10 miles (16.1 kilometers) biking
- Must be successful! Failed commitments will not be rewarded
- Participants may end their commitment early, but only one (max) commitment per day (UTC) will be eligible
We’ve implemented these rules to allow us to reward our users for meeting reasonable goals while also protecting against basic ways for attackers to game the system. As a further protection, we will be reviewing all commitments to catch any fraudulent behavior the above criteria and our smart contract logic does not catch — such as a single individual making 3000 commits a day, or something similarly absurd.
If you have any other questions, or if you see a flaw in our rules that would let someone exploit the pilot, please join our discord and let us know!
A Note on $MITCOIN
As a final note, we believe that rewarding early adopters and giving people a reason to join our community is an important key to success. To that end, we’ve created the $MITCOIN token to distribute as part of this reward pilot. At the moment, the primary supply of $MITCOIN is directly controlled by a CommitPool wallet.
We’re absolutely committed to transparency, so if you have any other questions, please feel free to ask in our discord.
Thank you, all!
-The CommitPool Team
commitpool.com | @commitpool
Discord: Join our Discord
Beta App: app.commitpool.com
