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: $1000 on February 16th

Current replenishment values

$1000
/
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.

Council KPIs

11.1

11.1

$0

Proposal Clearance

$0

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

11.2

11.2

$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 to make informed votes. This must be submitted as a PR to the Community Repo.

11.3

11.3

$50

Appoint New Council Secretary

$50

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).

11.4

11.4

$250

Research Max Validator Change

$250

After the validator set was increased last week, there was some unexpected behaviour. Produce a report answering the following questions:

11.5

11.5

$300

Managing Community Bounties

$300

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

Pending exchanges

To initiate an exchange, set your memo to an BCH 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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