Primco Facilitates Rewards for Ultrain’s Developer Community Members

PRIMCO.IO
PRIMCO.IO
Nov 2, 2018 · 5 min read

Primco (www.primco.io) has been selected as the exchange platform by Ultrain (token: UGAS) to reward long-term developers with a total of 1,000,000UGAS. For faithful developers who have who already have Ultrain’s (https://ultrain.io/) Proof-of-Skill (POS) applications, Primco will facilitate the token exchange by 15 Nov 2018 (Extended until 16 Nov 2018, 6pm (UTC+8)).

Ultrain resolves performance limitations with its breakthrough approach in cryptography to push the boundaries of the “impossible triangle” — namely security, decentralization and performance. Their own R-POS consensus mechanism assures a secure decentralized environment with up to 20,000 TPS, with room for significant enhancements.

They are currently valued at USD200 million and is backed by top VCs and crypto funds including Danhua Capital, Sky9 Capital, FBG Capital, Ceyuan Ventures, 8 Decimal Capital, ANMI, NGC Capital, Arrington XPR Capital, CPC Capital, Noris Capital, Du Capital, DFG, Evolution Capital, Bixin Capital, Chain PE ,Consensus lab, Mix Capital, KuCoin, Kosmos Capital, CryptoSA Capital, Sailor Capital, Norther Capital, Bitblock Capital, Spark Digital Capital, CDC Capital, Morningside, Aplus, Draper Dragon, BlueRun and more.

Campaign mechanism

It is mandatory for applicants to:

  1. join Ultrain’s (https://t.me/UltrainOfficial) and Primco’s (https://t.me/PrimcoOfficial) official telegram channels;
  2. sign up for an account at www.primco.io.
Ultrain’s official Telegram channel

After signing on for a Primco account and submitting relevant KYC documents, developers interested in exchanging their ETH with UGAS will have to submit their POS to be whitelisted. This can be done in several ways.

  1. Email Ultrain@primco.io using your registered Primco account’s email with the subject “Ultrain Proof-of-Skill application + Telegram ID”, and:
    - provide the link to your Github Account and screenshot your internal profile page; OR
    - provide link to your recent Reddit or BitcoinTalk technical article and screenshot of your internal profile page.
  2. Alternatively, you may also provide your POS by completing a technical quiz on: https://ultrain.typeform.com/to/YZ3jkZ

To qualify for allocations on Primco, developers must have submitted their POS and be whitelisted by 11 Nov 2018 6pm (UTC+8). By 12 Nov 2018 10pm (UTC+8), the allocation to all recipients will be announced. Between 13–15 Nov 2018 ending 10pm (UTC+8) (Extended until 16 Nov 2018, 6pm (UTC+8)), the request to exchange ETH with UGAS will be made.

How the allocation works

There will be 1,000,000UGAS worth 500ETH (1ETH = 2000UGAS) released on Primco’s platform. A cap of 1ETH per developer will apply. In the likely event of oversubscription, we will apply the following points system to determine allocation:

  1. The number of contributions on the Github account
    a. We will normalize the Github contributions across all applicants
    i. Top 25th percentile will get 10 points
    ii. 26th to 50th percentile will get 5 points
    iii. 51st to 75th percentile will get 3 points
    iv. 76th to 100th percentile will get 1 point
  2. An association with an organization on Github will be given extra 3 points
  3. The number of articles written on Reddit and BitcoinTalk
    a. We will normalize the number of articles across all applicants
    i. Top 25th percentile will get 5 points
    ii. 26th to 50th percentile will get 4 points
    iii. 51st to 75th percentile will get 3 points
    iv. 76th to 100th percentile will get 2 points
  4. Karma points on reddit
    a. We will normalize the Karma scores across all applicants
    i. Top 50th percentile will get 2 points
    ii. 51st to 100th percentile will get 1 point
  5. Seniority on BitcoinTalk
    a. 5 gold coins and above will get 3points
    b. 2–4 gold coins will get 2 points
    c. 2 and below will get 1 point
  6. The points scored on the quiz:
    a. We will normalize the number of points scored across all applicants
    i. Top 25th percentile will get 5 points
    ii. 26th to 50th percentile will get 4 points
    iii. 51st to 75th percentile will get 3 points
    iv. 76th to 100th percentile will get 2 points

Applicants who can complete more than one POS criteria will be have their points added up in each category. Their total will determine how much allocation they get. Do note that if the results are too homogeneous — causing normalization of scores to not work well — balloting will be conducted to determine allocation.

Disclaimers

  1. Applicants who can complete more than one POS criteria will be have their points added up in each category. Their total points will determine the allocation they get. If the results are too homogeneous — causing normalization of scores to not work well — balloting will be conducted to determine allocation.
  2. Primco reserves the rights of final explanation.
  3. We do not take non-technical articles on any forum into consideration for this campaign.
  4. We will only consider your Karma scores and Bitcoin Talk seniority only after verification of your technical article(s). If your article does not qualify as technical (determined at our discretion), you will not be allocated points relating to these two forums.
  5. A general description of your project will not be considered as a technical article.
  6. The selection process will be done by Ultrain and Primco teams collectively. Winners will be privately notified, to protect the online identities of developers.

This exchange on Primco comes off the tail of the very successful Proof of Love campaign, organized by Bgogo and Ultrain. Ultrain will list its token on Bgogo later this month (November).

Ultimately, we want Ultrain’s success to be shared by all, and especially by key developers who believe in Ultrain’s potential, an audience who we believe will benefit most, from owning UGAS.

For more information, Ultrain and Primco are on groups and social media at the links below. Post your comments and questions there and the respective groups and social media admins will answer them with the speed of Ultrain’s TPS!

Thanks for your support!

Primco and Ultrain Teams,
2 Nov, 2018

Primco’s links

Primco: https://t.me/PrimcoOfficial
Twitter: https://twitter.com/Primco9
Medium: https://medium.com/@primco.io
WeChat:

Ultrain’s links

Telegram (EN): https://t.me/UltrainOfficial
Telegram (CN): https://t.me/Ultrain_CN
Telegram (VI): https://t.me/ultrain_vietnam
Facebook: https://www.facebook.com/Ultraincommunity
Twitter: https://twitter.com/UltrainB
Medium: https://medium.com/@ultrainchain
Linkedin: https://www.linkedin.com/company/ultrain/
WeChat:

PRIMCO.IO

PRIMCO.IO

Written by

PRIMCO.IO

Primary Market Coin Offering (PRIMCO) is dedicated to building an investment exchange platform for high-quality blockchain projects globally.

PRIMCO.IO

PRIMCO.IO

Primary Market Coin Offering (PRIMCO) is dedicated to building an investment exchange platform for high-quality blockchain projects globally.

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