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Introducing Vault12 Community Rewards

Vault12
Vault12
Jun 19, 2019 · 3 min read

***Updated Leader Board ***

Community Rewards

As announced in the Vault12 Platform white paper, we allocated 80,000,000 tokens to be used over the next five years for Community Rewards. It’s time to activate that program and lay out the high-quality activities now and in the future that will enable members of the community to receive Vault Guardian Tokens (VGT) as a reward for helping expand the community and quality of the Vault12 platform.

When we outlined our vision a few years ago, we knew from the start that it would take more than one company or any one team to create a successful distributed secret-keeping platform. Therefore, we planned from the beginning for a moment in the platform’s evolution when multiple parties will start contributing value to the platform and earn revenue by operating various parts of the Vault12 stack. To bootstrap that process, beginning next month, we will start rewarding outstanding individuals or teams who have excelled in their support of the Vault12 community.

What are the Rewards?
We will be issuing rewards in the form of VGT every month or quarter to individuals whose high-quality activity is eligible for a reward. Average awards will range from 50,000 VGT to 500,000 VGT, but for truly outstanding achievements we might go beyond these limits.

How can you earn rewards?

There are many avenues to earn community rewards now and in the future. The key questions to consider would be as following:

- Is this genuinely helping the broader community?

- Is this moving a specific product or service forward?

- Is this contributing persistent value to other members of the community or platform customers?

The first activity we need help right away is for quality feedback during the Beta — please enroll in the Beta testing at https://vault12.com/beta. We plan to have Beta award each month, and we’ll be announcing our first winners shortly.

Subsequently, once the product is live, we will expand the quality activities which are eligible for rewards to include the following:

- The discovery and reporting of security and other application bugs.

- Helping new community members on social channels

- Offering service as a “professional” Guardian to the wider community.

- Publishing tutorial videos on how to use Vault12 application, serve as Guardians or other aspects of the platform.

- Writing blog posts about the Vault12 app.

- Hosting a professional relay (https://github.com/vault12/zax)

- Organizing a Vault12 Workshop to show people hands-on how they can secure assets in a Vault and assign Guardians.

- Organizing a Meetup — to discuss issues including crypto security and reducing risks in owning cryptocurrencies.

Qualification Criteria

All participants must pass KYC.

Distributions of cryptocurrency are subject to the same KYC/AML requirements as financial transactions and, therefore everyone receiving an award must be identified and pass KYC/AML requirements regardless of where they reside.

A quick word on social media activity — while we love to see lots of activity on social media, for some platforms, posts on topics concerning crypto are still subject to restriction, so we will not be offering community rewards solely for activity on social media.

Considerations for Rewards

Rewards will consist of a distribution of Vault Guardian Tokens (VGT). As these tokens are considered securities under U.S. SEC regulations, they are subject to tax under certain circumstances. For US Residents, we are required to issue a 1099.

While we cannot offer financial advice, depending on the jurisdiction of where you reside, you will need to conform to applicable securities regulations.

*** Leader Board ***

Community Reward Recipients:

24 June 2019

M.E., Germany: 500,000 VGT for extensive and detailed testing of the beta Vault12 app.

16 August 2019

Beta testing Vault12 app
VZ, Belarus: 100,000 VGT
BBB, Ireland: 100,000 VGT
NT, Netherlands: 100, 000 VGT

Vault12

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