What do you all think about setting up a rewards program on Avalanche? Avalanche is a smart contracts platform similar to Ethereum, but with way cheaper transaction fees and they have interesting stuff planned down the pipeline like subnets.
Some ideas on how to earn rewards…
Lock WOW for 1 year, post your transaction hash and spend proof, receive the equivalent locked amount in rewards.
Make some dank ass memes and share on social media, get tipped in rewards
Create bounties for Wownero development tasks, do the jobs, get paid in rewards
Match WFS proposal donations and give out equivalent amount in rewards
People would be able to use the rewards to participate in the Avalanche’s ecosystem. Yield farm, borrow, lend… all that Defi fun stuff and trade on decentralized exchanges. Also, the rewards token could be imported into MetaMask
Of course, the rewards will have zero privacy protection features, but on the other hand, it could help fund Wownero development and perhaps we can open a bounty to build a bridge service to easily swap between the rewards and WOW. Also another negative, the initial reward distribution method will be highly centralized.
- If you like the idea, what should we name the token? Ideas for colors, mascot?
2. Do you think the rewards should have a dev tax (yes, I agree they are disgusting, but this could be a way to help pay for Wownero infrastructure and freelance developers while at the same time maintain the “purity” of the main chain)? If yes, what would be a reasonable percentage (10%, 20%, 30%)? 3. Should there be a percentage reserved for a public sale to help kick start a liquidity pool? If yes, what percentage? edit: NVM
Should the total supply be capped the same as Wownero (184 million)?
Should the supply be be released according to Wownero’s yearly emission schedule ? In other words, after launch, about 70% of rewards will be locked up and on every Wownero anniversary (1st April), the average yearly emission up to to that date is released (currently about 8%)
Please share your thoughts, support, or opposition to the idea.