Raindrop Batch #3: Growing the Commerce 3.0 Network

Commerce 3.0 got off to a successful start with Raindrop Batch #2. Pioneering community leaders built the first Commerce 3.0 communities committed to the support of SesameOpen and showed how token rewards can drive commerce transactions.

Following on that success, we are excited to announce Raindrop Batch #3, which begins on March 1st (US Pacific time) and will end on March 31st. This batch will focus on growing the number and size of Commerce 3.0 communities. Similar to Batch #2, this Raindrop batch will involve interacting with a smart contract through the Raindrop interface to deposit SO token, but we’ve got a few new incentives this time. By providing token rewards shared by community leaders and members, we hope to show our appreciation to our loyal supporters and encourage many more to join the network.

The rules for Batch #3 for community leaders and members are as follows:

Community Leaders (sign up here)

• Community leaders receive 10 SO token for each new Ethereum address they bring into the community smart contract, regardless of whether that address deposits any SO token.
• When 100 new addresses are added by a community leader, that leader will receive an additional 10 SO tokens for each new Ethereum address in the community smart contract.
• To qualify for the additional reward, at least 50% of the new addresses in the smart contract must deposit a minimum of 500 SO tokens.
• There is no cap on how many reward tokens a community leader can receive, as long as the community meets the 50% SO token deposit threshold.
• As before, community leaders must go through KYC/AML to receive reward tokens.
• Community leaders can indicate their interest by filling out this form.

Members

• Each new Ethereum address in the community smart contract will receive 5 SO tokens simply for joining the smart contract.
• When 100 new addresses are added to the smart contract, each member in that contract will receive an additional 5 SO tokens.
• To qualify for the additional token reward, at least 50% of the new addresses in the smart contract must deposit a minimum of 500 SO tokens.
• Members will also receive token rewards based on a percentage of how much they deposit into the smart contract and when they deposit those tokens during the month-long batch, as follows:

• In appreciation for their long-term loyalty, existing addresses with deposits in Batch #2 earn an additional 0.5% reward on a deposited amount >1000 SO tokens, as follows:

• There is no cap on how many reward tokens a member can receive, since it is based on their deposit amount and timing.
• If the member withdraws any amount of token at any time, they will forfeit all token rewards for that address in the smart contract.
• As before, members must go through KYC/AML to receive reward tokens.

As you can see, Community Leaders will now have the ability to offer a free 5 SO token drop to any member that joins the smart contract, and a free 10 SO token drop if the community reaches the 50% threshold for depositing addresses. In addition, the Batch #3 join and deposit period is on a rolling basis throughout the month based on the feedback from Batch #2. We hope that will allow community leaders to encourage even more members to join the Commerce 3.0 Network.

Finally, we have established a Community Grant Program to provide SO token grants to individuals who have an idea for how to grow their community or spread the word about Commerce 3.0, SesameOpen, and the Raindrop program. More details about that grant program can be found on Medium.

Thanks again for the support so far and we look forward to a great Batch #3! Please ask any questions in our Telegram group.