One of the things HOPR became best known for in 2020 was our incentivized and gamified testnets (RIP Coverbot, we’re not that sad you’re dead!) Our community put a lot of hard work into testing the various versions of our protocol, and 4th March at 14:00 CET is when that hard work pays off with the release of the bounty rewards.
Let’s start with the best news: we’ve decided to issue a 100% bonus on all rewards from our incentivized testnets. The bonus portion will be locked for 18 months, while the original amount will be claimable and liquid straight away. So if, for example, you earned 1,000 tokens participating in testnets, you can claim 1,000 tokens today and another 1,000 in September 2022.
IMPORTANT: Bonus tokens are locked to the same address, so make sure you’ve backed up your wallet. You will need it again in 18 months to claim them.
In total there were 1,208,250 HOPR tokens earned as rewards for our incentivized testnets, bug bounties and earlier contests. (The recent Jungfrau contest is being paid from a separate token budget and will be handled next week. More details coming on Monday.)
To reduce gas costs, these tokens will be issued as wxHOPR on xDAI Chain.
Like the pre-sale, a dedicated distributor widget will be used to claim them.
Claiming Via the Distributor Widget
To claim your tokens after 14:00 CET on 4th March, make sure your wallet is set to xDAI Chain and then head to our distributor widget at https://distributor.hoprnet.org/
Connect your wallet, press “Claim” in the Bounties Schedule section and the tokens will be sent to your wallet after you confirm the transaction and pay the gas (there will be a gas charge, but as this is happening on xDAI Chain it will be very small. If you need xDAI tokens to pay this then you can visit the faucet at: https://xdai-faucet.top/
When you get the wallet pop-up to claim your wxHOPR, the claim amount will show as 0. This is fine. The correct amount of tokens will be sent.
To see your claimed wxHOPR in your wallet, you will need to add it as a separate asset. The contract address to do this is: 0xD4fdec44DB9D44B8f2b6d529620f9C0C7066A2c1
(Full token contract addresses for all three versions of the HOPR token can be found in this post.)
Once you receive your tokens, you have a couple of options. First, you can leave them as wxHOPR usable in a node. (IMPORTANT: Nodes need a minimum of 10 wxHOPR to work, and we strongly recommend you only add the minimum.)
You can also unwrap them to xHOPR using the wrapper at https://wrapper.hoprnet.org/. Once they’re unwrapped, you can take them across the Omnibridge at https://omni.xdaichain.com/ to convert them to HOPR on ETH mainnet.
You can find more detail on the conversion process in the articles linked in the previous paragraph.
Other Tokens Unlocking On 4th March
So people can keep track of the current circulating supply of HOPR tokens, it’s important to note that a few other classes of tokens will be unlocking at the same time as the bounty tokens. These are:
- Allocations for marketers and external contractors (1.2m tokens). This includes our wonderful ambassadors and everyone who helped with the recent launch event, including community partners, PR contractors, translators, content providers, etc. These tokens are immediately liquid.
- The first treasury allocation. Like most crypto projects, a portion of the total supply is allocated to the project treasury and will unlock in stages. The first tranche (32m tokens) is now technically unlocked, but these will NOT be sold on the open market. They are reserved for VC investment (in which case they will be subject to lock-ups) and to meet market making requirements if the HOPR token is listed on a centralized exchange.
Since the treasury tokens are reserved for these two narrow purposes, they shouldn’t be considered part of the circulating supply, but they are technically liquid as of now and we want to be transparent about that fact. In total, just under 2.5m HOPR tokens have been added to the circulating supply.
The HOPR development team has made huge strides in developing the HOPR protocol this past year, but of course, there’s still a lot more work to do, and that means more testing. There will definitely be more incentivized testnets in the future, so stay tuned to our Telegram Channel and blog for announcements.
HOPR Head of Engineering