Testnet Incentives

Participants on our testnets can now earn Joystream Testnet Tokens (tJOYs) backed by fiat currency.

Token in numbers

Value backing dynamics

There are two dynamics that impact the amount of value backing the tokens at any given time.

Replenishment

The fiat pool will be topped up weekly, without minting new tokens, effectively increasing the exchange rate (all else being equal).

Last replenishment: $150 on September 20th

Current replenishment values

$600
/
14

days

KPI and Bounty Rewards

For every new Council term, Jsgenesis will create Council KPIs, each assigned a USD value. If the goals are achieved, Jsgenesis will reward the Council without affecting the exchange rate.

Jsgenesis will also create Community KPIs, similar to bounties, but managed by the Council. These are also assigned a USD value, and if achieved, Jsgenesis will (indirectly) reward the individual or group that achieved the goals.

Further details and KPI history

Council KPIs

01.1

01.1

$0

Proposal Clearance

$0

For the governance process to function properly, all proposals must be processed professionally, and in a reasonable time frame to avoiding blocking new proposals coming in.

01.2

01.2

$0

Council Reporting

$0

There needs to be some level of accountability and transparency for the Council. For each `term` the Council must produce a report of 'events' and 'Tokenomics' to allow users make informed votes. This must be submitted as a PR to the Community Repo.

01.3

01.3

$50

Appoint New Council Secretary

$50

In preparation for some changes to the KPI system, the Council must appoint one of their own as the Council Secretary, responsible for adding Council Reports and representing the Council in the Community Repo (with some enhanced repository maintenance privileges).

01.4

01.4

$50

Block Production

$50

In order to have a reliable network, a KPI focusing on block production and validator stability is required. Timestamp of each block can be found using the block explorer.

01.5

01.5

$200

Managing the Community Repo

$200

The Community Repo needs a cleanup and to be re-organized for the new network. Note that for PR to 'count' the Council Secretary must request a review by Jsgenesis (@blrhc and @bwhm) and include a link to an approved Proposal for said PR.

01.6

01.6

$50

Establishing new Working Groups

$50

New Leads for the Storage and Curator working groups are needed for Alexandria.

01.7

01.7

$250

Managing Community Bounties

$250

Managing Community Bounties will be a growing part of the Councils workload. Establishing good workflows for this will be iterative and situational.

Community Bounties

01

01

$150 (max)

Update Telegram Bot

$150 (max)

As the old bot is not compatible with the new '@joystream-types', it needs to fixed as soon as possible. Full details can be found here.

02

02

$TBA

Research and Testing of 'polkadot-js extension'

$TBA

After the upgrade, we have enabled the polkadot-js extension as part of Pioneer. However, it has not been tested fully on our platform.

03

03

$TBA

Improve Telegram Bot(s)

$TBA

After the updates in Bounty #1 have been completed, it will be appropriate to improve the bot(s) and add further functionality.

Pending exchanges

To initiate an exchange, set your memo to an XMR address of your choice and make a transfer to Jsgenesis burner address: 5D5PhZQNJzcJXVBxwJxZcsutjKPqUPydrvpu6HeiBfMaeKQu


Tokens sent to Jsgenesis in this exchange are burned, hence the final price of the token is unaffected by such an exchange.

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