Epoch 8 Imminent
We mentioned in our last post that Epoch 7 was imminent. The day has arrived, a week ago actually. Epoch 7 has closed and Epoch 8 has begun.
EPOCH 8 SNAPSHOT TO BE TAKEN FRIDAY SEPTEMBER 10 @ 11:59pm MST
Let’s just dive right on in to the numbers:
Opolis runs payroll twice per month, on the 1st and 3rd Friday. On August 20th, 2021 Opolis ran $373,128.83 in payroll, closing Epoch 7.
Epoch 8 will begin when Opolis runs $400, 000 in payroll, which could happen next pay cycle.
Warning: Super Duper Data Nerd Section
Payroll Consumption
During Epoch 7, Opolis ran $1,358,772.85, over 4 pay cycles (July 2, July 16, Aug 6, Aug 20). All of the Employee-Members who ran payroll during those 4 cycles share a pro rata rate of the 1,500,000 $WORK that are allocated to Employee-Members of the 5,000,000 $WORK that were mined.
It is important to visualize it that over multiple weeks, because an Employee Member who runs payroll for a subset of those four pay cycles would earn less $WORK than someone who ran payroll for all four.
This Epoch, Employee-Members actually earned more than 1 $WORK per $USD of payroll run. For example, if you ran 12,818.61 (the average processed per Employee-Member during Epoch 7), you would have earned 14,150.46 $WORK. That’s roughly 110% $WORK/Dollar earnings. That ratio will steadily decline as more Employee-Members join the Commons, because you’ll be sharing the same 1.5M $WORK with more people.
On average, an Employee-Member earned 16,870.70 $WORK, just for payroll consumption; if you made referrals who ran payroll, you earned even more.
Staking
To earn a pro rata share of the 1,000,000 $WORK distributed to the staking contract, you had to have your $WORK staked at the first snapshot and the last snapshot.
A total of 9,590,656.2818 $WORK was staked throughout the entirety of Epoch 7. The rate of return for staking came out to 10.427%, so if you staked 1000 $WORK, you would have received ~104.27 $WORK.
Referrals
There are about 30 individuals and/or organizations that have made a direct referral of an Employee-Member. On average, they earned 33,176 $WORK in Epoch 7. Remember, Referrers are also a 30% slice of the 5M $WORK pie, so those 30 referrers shared 1.5M $WORK.
That could be you, and it’s not difficult. Just introduce someone you think could benefit from Membership to someone on our Membership Team, and they’ll take it from there. Best options for making referrals:
- Make a telegram introduction or find 0xJoshua#0888 on discord.
- Cc us on an email: Membership@opolis.co
- Send them our calendly to set up an Intro meeting and instruct them to put your name in the “who referred you” field.
You know what they say about early birds: Early bird gets the $WORK.
We are still so very early.
How to Claim your $WORK
For the first 6 Epochs, $WORK was airdropped directly to your dashboard.
For Epoch 7, you will be claiming your $WORK rewards on the dashboard, merkle style. We will be using this Merkle distribution system moving forward.
Clicking “CLAIM” will claim all previously unclaimed $WORK due to you for the last Epoch(s) and will automatically be sent to the wallet you used to stake during that Epoch. Please do not hesitate to reach out if you have any questions. The best way is to head to our discord and click the envelope emoji in the #create-a-ticket channel.
Troubleshooting
If you happened to switch your wallet to a new address after the last Epoch, your $Work claims might go to your previous wallet. If this happened with your Magic wallet, you can easily switch back to your Magic Wallet on the staking page.
If you would like your newfound $WORK to be included in Epoch 8 rewards, don’t forget to stake your $WORK tokens by 11:59pm MST on September 10 (and leave them staked through the closing of Epoch 8).
Have questions? Visit Opolis.co to learn more about how the Commons brings portable employment to the independent, self-sovereign worker.
Twitter — https://twitter.com/opolis
Discord — discord.gg/2cKMuFG
Telegram — https://t.me/Opolis
Website — Opolis.co
