Harmony — All you need to know before the first DAO platform payout
Hello community,
We are very glad that more and more community members are joining our SM platform. With the payout coming up in the near future, we want to answer all the important questions regarding the payout.
If you are not already member of the Harmony DAO- you can join us here!
How will we calculate 10 000$ worth of tokens reserved for each month?
- We want to make sure that payouts are as accurate and close to the recent price actions as possible. This is why 10 000$ worth of tokens will be based on a 7-day VWAP (volume-weighted average price).
How about KYC?
- Due to legal reasons, we are forced to implement KYC for every user wanting the payout.
The first 2 levels will most likely cover most of the users
LEVEL 1: eligible for 0–100 worth of USD reward
Name, Address, and email.
LEVEL 2: eligible for 100–250 worth of USD reward
Nation ID or other documents that can prove your identity.
LEVEL 3: eligible for 250–1000 worth of USD reward
ID and proof of residency documents.
LEVEL 4: eligible for 1000 worth of USD reward
Collection of ID and proof of residency documents + Liveness check.
What is determinating the payout?
- Reputation, hold index, points, validation, engagement index, etc… all those aspects are impacting your payout.
- There is no simple formula. Since simple formula would let into system abuse from users outside the community.
- If you want to learn more check out DAO Makers SM gitbook.
How to obtain more reputation?
- For 1st month the reputation distributed directly from the system to users is turned OFF. We need to wait for more community members to sign up for the platform. For now, the team is personally rewarding a few very best posts with a little bit of reputation to get the platform going.
- After the 1st payout, the regular reputation batches will be turned ON. It will work very simply. Reputation will be distributed to the top 30 most upvoted posts proportionally to the ranking of the post.
The ranking does not reflect payout!
- Yes, that’s true ranking does not reflect payouts! By ranking, we can only observe users that have the most influence (voting power) on the platform.
- Thanks to this we are not giving away the wallets from the users that you could easily track if the payout would be according to the ranking.
This is all from us before the first payout. We hope that everyone will be satisfied with his payout.
You can familiarize yourself with Harmony DAO in this user guide!
Harmony Team
