The Kuende Challenges & The Kuende Tokens Have Arrived!
We are thrilled to announce that on November 29th the Kuende Team accomplished two major road-map milestones: the Unlocking of the Kuende Tokens & the Launching of the Kuende Challenges - Now you can Deposit KUE to your Kuende Account and Create, Vote or Participate in the Alpha Version of the Kuende Challenges!
The Alpha Version stage represents the first step in our blockchain implementation plan. Its purpose is to allow the Kuende Community to test the Kuende Tokens and their blockchain integration, together with the Challenge Framework. This process will help us gather valuable feedback, in order to learn fast, develop and tweak the micro-economy for the moment the Kuende Points will become blockchain tokens as well.
In the next couple of months, all the KUE Token holders will be able to use and test the following:
Deposit KUE in the Platform
Everyone that has KUE Tokens in their wallets (ICO, Bounty Hunters or Airdrop participants) can now begin the Kuende blockchain experience!
As presented in the Whitepaper, first step to access the Kuende Challenges is to have KUE associated to your Kuende Account. To do so, you must deposit KUE from your Ethereum Address, to your Kuende Wallet.
This is where the fun starts! In order to create a Challenge on Kuende you need to have at least 1 KUE available in your account during the Alpha Stage. The Challenges can then be voted by other token holders while everyone can participate.
We have developed a new dedicated Challenge Feed, where you can see all the Challenges generated by other community members.
In order to vote a Challenge you need to stake a quantity of KUE. This amount of KUE tokens will still be yours, but will be locked during the Challenge. In short you will not lose this tokens. Once the Challenge has ended and the winners are decided, your tokens will become unlocked and it will appear in your Available Balance.
Keep in mind that the amount of KUE staked for voting a Challenge, will provide the percentage you earn from the Voters Reward Pool.
More On The Challenges…
- You can participate in Challenges and you don’t need KUE for that. For every Challenge, if you submit more than 1 entry, only the entry with the most up-votes will be considered, the rest will not be taken into account for the prize pool
- During the Alpha Version stage, 10% of the Kpoints earned solely from creating, voting and participating in Challenges will be converted to the Kpoints Tokens mentioned in the Whitepaper which will be trackable and transferable on blockchain. The rest of the Kpoints earned in the platform (Daily Bonus, Discovery Feed earnings, etc) will not convert in Kpoints Tokens
- It’s also important to take note that every Challenge has two stages: Voting and Participation. After the Challenge has ended, there is a one day period for our admins to review the Challenge.
- There are two scenarios for which a Challenge will be deleted from the Challenge Feed: if at the end of the voting stage the challenge has no votes or if at the end of the participation stage the challenge has no entries.
- For the moment all the reports related to Challenges will be managed by our admins.
- The prize pool calculation formula is as follows:
Reward Pool = No. of Voters * No. of Participants * 10 Kp
- Creator takes 45% of the Reward Pool
- Voters take 25% of the Reward Pool
- Participants take 30% of the Reward Pool
This is an important moment in Kuende’s history! Less than 3 weeks have past since the ICO has ended, but the entire team is back, fully focused on the product and the blockchain implementation!
We are looking forward to your feedback and support regarding the testing of Kuende Tokens and the overall blockchain experience!
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