FantomGo Introduced “Participate-To-Earn” (PTE) Model
Let’s admit that you don’t always have money to invest in crypto. The good news is, you don’t have to and this is where the PTE model kicks in.
What is a PTE model?
A model that rewards you for your participation. With the Participate-to-Earn model, they devised a system that has gamified your participation and completion of tasks. The more you participate and contribute, the higher in the rankings you go and hence, in turn, more $FTG tokens you can earn from a total share of $FTG tokens worth $240,000 (12 months x $20,000 worth of $FTG tokens).
GET STARTED Now if you want.
Why the PTE model?
The PTE model honors unique talents and in-demand skills. The model rewards you for your skills and participation while you are building something great with a vetted project on the fantomGO platform, hence making a difference in the community.
About fantomGO Offerings
The fantomGO PTE model starts with the gamification that rewards users for their contributions. These rewards help with crypto staking and help the users with ranking which in turn decide their access level to the platform as to what they can do and what benefits they can avail themselves of in the future. This opens up a fair play environment for everyone.
fantomGO has over a billion $FTG tokens in which 25% is used for ecosystem incentives that are shared among contributors like developers.
A user can contribute and earn $FTG tokens by doing any of the following activities, but, not limited to:
- Writing code and making better applications using the platform
- Researching more about web3 and a dozens of emerging areas
- Showing support on social media
- Writing articles about the projects they believe in
- Creating content like music and art physical/digital
They will be adding more tasks as the contest progresses over the duration of the event. The above are some examples for now, please feel free to contest for further opportunities.
The tasks are recorded on SweepWidgets.com and help in rewarding a tally of points that are achieved by contributors on a bi-weekly basis. These points are accumulated and translated into $FTG tokens which later could be used to support any projects of choice. Since we advocate for long term sustainability and not some quick “for profit” mentality, we provide a six months vesting period for the $FTG tokens earned.
To instill a sense of achievement, users could be grouped broadly into 7 tiers:
GO Legion |Top 1%|$5000
GO Brigade|>1% to 3%|$3000
GO Regiment|>3% to < 5%|$3000
GO Battalion| >5% to <15%|$2000
GO Platoon| >15% to 35%|$2000
GO Patrol|>35% to >65%|$2000
GO Squad|>65 % to >85%|$3000
The top 85% of participants shall be grouped into 7 tiers in descending order based on points earned and a percentage of $FTG tokens allocated based on the participants ranking (which in turn is based on the level of participation). Each Participate to Earn (PTE) campaign that will last 2-weeks will have a reward of $20,000 FTG tokens.
Each group will have a specific amount of the reward pot ($20,000 FTG) allocated to it. That specific amount of $FTG tokens will be split among the total number of participants within the tier.
For example, if $5,000 worth of FTG tokens have been allocated to GO Legion and there are 100 participants whose rank (based on points accumulated during the 2-week campaign) fall into this tier, then each participant will get $50 worth of FTG tokens ($5,000/100)
With every Participate-to-Earn campaign, each participant will start with zero points meaning a brand new opportunity to rank higher. However, the points accumulated from previous PTE campaigns will be tallied and go against your overall ranking at the end of the 6-month PTE campaign. That rank will determine the range of rewards in the future i.e. guaranteed allocation to future projects launched on the FTG platform to governance rights.
Tokens from all campaigns have a 6-month cliff (no tokens for 6-months) vesting from the day of $FTG tokens exchange listing followed by 6-months linear vesting.
Price per $FTG token will be based on the current market price of $FTG tokens at a time of during the PTE campaign and locked in on a specific date (details to be announced closer to the time).
Conclusion
To summarize, based on the points earned, the rewards will range from guaranteed allocation of $FTG token and governance rights to lottery-based rewards. This gamification based rewards system encourages everyone to be a part of a rewarding community on a long-term basis.
fantomGO has announced large allocations of points for developers in our competitions.
So they welcome you to the Participate-to-Earn (PTE) model and look forward to you creating a reliable and long-term store of value by holding $FTG
Disclosure: The information described in this paper is preliminary and subject to change at any time. Furthermore, this paper may contain “forward-looking statements.”
📰 INFO
https://medium.com/@fantomgo/introduction-to-participate-to-earn-pte-model-f79a7b2b5eac
