Bifrost Testnet NFT Badges Distribution & Rewards Redemption Announcement

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IRISnet Blog

5 min readMay 18, 2021

Bifrost NFT Badges have been distributed to the IRIS Hub mainnet address of testnet winners in May. With the new upgraded Rainbow Wallet, Bifrost Testnet Winners can view obtained NFT Badges in the wallet.

From May 28, Rainbow Wallet will enable the NFT redemption function. Then, winners can redeem NFT Badges into IRIS rewards according to a certain Reward Coefficient. This reward redemption period will end on September 30, 2021. After that, the unredeemed NFT Badges can still be kept by winners as honor and souvenirs.

Download Rainbow Wallet: https://www.rainbow.one/

Bifrost Testnet Incentivized Tasks Summary

IRISnet’s Bifröst is a specialized testnet dedicated to Cosmos interchain vision, where IBC and functions like AMM can be tested out. It started from September 2, 2020, experienced Phase-0, Phase-1, Phase-2 three testing phases, and completed all incentivized tasks before the mainnet upgrade in February 2021.

Among so many participants engaging in this Bifrost Testnet, there are 228 participants who successfully completed the incentivized tasks and will win corresponding NFT badges.

More details about winners:
https://github.com/irisnet/testnets/blob/master/bifrost/reward.md

Rewards Redemption

Winners who own the NFT Badges can choose to redeem Badges to IRIS Tokens. Rainbow Wallet is planned to upgrade in May to support the redemption of NFT Badges.

The Reward Coefficient of this Bifrost incentivized testnet is 300. According to the Bifrost Testnet Rules, the amount of IRIS token rewards for each winner will be: (Number of Gold Badge * 1 + Number of Sliver Badge * 0.67 + Number of Bronze Badge * 0.33) * 300

NFT Badges Distribution & Redemption Timeline

The estimated timeline for the distribution and reward redemption of Bifrost Testnet NFT badges distribution and reward redemption is as follow:

May 18: Rainbow Wallet upgrades to support the NFT Badge display function; Bifrost Testnet winners can view and check their obtained NFT Badges in Rainbow.
May 18 — May 28: Bifrost Testnet participants can still check the testnet results and also NFT badges details; If there are any issues that need to be revised, or winners who have not provided their mainnet addresses to receive badges, please make sure to timely contact the IRISnet core development team before May 28, 2021, in Discord Server https://discord.gg/bmhu9F9xbX.
*Please note that after the redemption function enabled on May 28, the team will no longer accept any applications for the addition or modification of any information regarding Bifrost Testnet winners and rewards.
Start from 24:00 pm, May 28 (UTC+8): The reward redemption function will be enabled. Winners are able to redeem their NFT Badges to corresponding IRIS rewards in Rainbow.
End at 24:00 pm, September 30 (UTC+8): The reward redemption period will end. The unredeemed NFT Badges cannot be redeemed to rewards anymore, but can still be remained as souvenirs for winners.

Introduction of Functions

*All the figures below are for reference only, please refer to the actual interface as final.

In this latest version of Rainbow Wallet, there is a new Badge icon on the right side of the total assets on the homepage, where users can access to use the NFT Badge feature.

The badges distributed in this Bifrost Testnet includes three levels of Gold, Silver and Bronze. If users have all these three level of badges, then when they click on the Badge icon, these NFT Badges will be displayed in order according to different levels.

The Gold Badge distributed this time is worth 300 IRIS, the Sliver one is worth 201 IRIS, and the Bronze one is worth 99 IRIS. Winners are allowed to just keep these badges or redeem them to obtain corresponding IRIS rewards.

Take the Gold Badge for example, when users click on one [Unredeemed] Gold Badge, the detail such as ID, Name, Level, Value and Status of this badge will be displayed. Also, users can redeem rewards by clicking on the [Redeem] button at the bottom of this page and confirm.

Furthermore, if you click on the thumbnail image in the Badge Details page, the NFT badge image with its unique ID will be displayed on the full screen.

Once the redemption transaction is successfully confirmed on-chain, the redemption process completes. Then, users will receive 300 IRIS that can be checked in their Rainbow Wallet. Accordingly, the status of this Gold Badge will be changed to [Redeemed].

In addition, you are able to check the recipient, sender, network fee and other transaction details by clicking on [View Details] button.

Bifrost Testnet NFT Badges Distribution & Rewards Redemption Announcement

Bifrost Testnet Incentivized Tasks Summary

Rewards Redemption

NFT Badges Distribution & Redemption Timeline

Introduction of Functions

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Written by IRISnet