Testnet point program
Last updated
Last updated
What is this?
It's been some time since we announced our testnet launch on March 21. You have been able to experience our Galxe campaign and test basic functionality in our app. We feel it's time to move on and bring something new for you, our fellow stroomers.
Stroom introduces a new loyalty program. We designed it to be as simple as possible, yet fun to use and compete with other stroomers. Let's dive in a bit into this and see how it works?
Stroomer - a Stroom community member who participates in our testnet.
stPoint - stands for stroom point and represents what stroomers earn on the app for staking.
Leaderboard - a ranking table. It shows your place among other stroomers according to the amount of stPoints earned.
1) Visit Stroom app: http://testnet.stroom.network
2) Connect your wallet to the Stroom app
3) Deposit testnet BTC
4) Mint stBTC or Mint&Stake bstBTC
5) Check your points at https://testnet.stroom.network/leaderboard
You receive stPoints for Minting stBTC or Minting&Staking bstBTC. As the stBTC-bstBTC ratio isn’t fixed, stPoints for staking bstBTC will be calculated based on the amount of satoshis you deposited that day.
We have a simple formula for transforming stBTC into points. Moreover, we encourage you to crack this formula. If you are able to do that and explain why exactly we chose these elements in the formula, you will receive a considerable amount of stPoints for doing that.
To put it straight, the first person who guesses the formula and gives the correct explanation behind that will receive 5M stPoints. You can check our Twitter to get more info about that.
The last important thing, your daily stPoint limit is set to 300k. At 00:00 AM each day, you will have a new opportunity to earn stPoints. We use the UTC+0 timezone, so don't be confused if the limit doesn't reset when your clock shows 00:00 AM. The maximum amount of stPoints you can earn is 21M. This one is easy to guess why.
If you visit the Leaderboard, you can see your place among other stroomers, your total points accumulated, and your daily points collected. Your EVM wallet address, which you connected with to the app, serves as your nickname.
We are excited to announce the new Leaderboard season. Unfortunately, no one was able to crack the code of how we calculated our points in Season 1.
The formula was:
stPoints = # of satoshis staked * (First Bitcoin block created (Jan 3, 2009) - Ralph Merkle's birthday (Feb 2, 1952) in days) / first 5 digits of Stroom in binary code (10100).
It wasn’t easy, but the calculations were basic and all related to important dates for our beloved Bitcoin community.
This season, we want to eliminate all the mystery behind stPoint calculation, so there will be no hidden formula.
Also, we introduce a referral program. You can receive your referral code on the Leaderboard page.
This program has straight rules. Every Mint your referrals make on Stroom will earn you an additional 20% on their transactions. As for your referrals, they will get a 20% stPoint increase on their first 100 transactions.
That said, Season 2 calculations are:
Every Mint stBTC will earn you 50,000 stPoints regardless of the amounts (NOTE: the limit is 250k stPoints/day on your own Mints)
Every Mint stBTC from your referrals will earn you 10,000 stPoints (20%) regardless of the amounts
*If you have come to Stroom with a referral code, you can get an additional 10,000 stPoints for each of the first 100 Mints on the testnet (NOTE: the maximum bonus you can earn is 1,000,000 stPoints)
Update: Since the Decentralization update with Validators, the upper limit of referrals per user is 200.
All rewards will be distributed after the mainnet launch.
