Hashflow Open Beta

Details

With a new phase come new rewards: the new Rewards System.

Fundamentally, the Rewards System stands on the following pillars:

• Community Focus — the Hashgang is the foundation of the Hashflow protocol and we want to recognize and reward the vibrant contributions from our community
• Transparency — rather than describing the rules retroactively, we want to communicate them ahead of time and measure them as transparently as possible
• Growth Metrics — the system is designed to incentivize the growth of Hashflow’s Core Metrics and further test the capabilities of the protocol
• Distribution Equity — we recognize that different contributors have access to different means of capital that they can use on Hashflow; we aim to make it more accessible for lower volume traders to earn highly desirable rewards

Who gets rewarded?

Hashflow’s protocol structure is an institutional liquidity-powered mechanism with Traders on one side and Liquidity Providers on the other. These two types of users contribute in tandem and are reliant on each other.

Therefore, during the Open Beta stage, both Traders and Liquidity Providers will be rewarded. In this post, will only be covered rewards for Traders. Rewards for liquidity providers will be announced once Public Pools launch in Q4 2021.

Rewards for Traders

Hashflow Open Beta traders will be rewarded based on on their HashScore (described below), which will put them in 5 tiers as follows:

1. Tier 1: Top 25 traders
2. Tier 2: Next 225 traders
3. Tier 3: Next 750 traders
4. Tier 4: Next 1,500 traders
5. Tier 5: Next 2,500 traders

This will amount to a total of 5,000 traders who will be rewarded.

Each tier gets its own unique NFT. These NFTs will play an important role in the initial Governance Token distribution.

The HashScore

Traders will be ranked in decreasing order of their HashScore. Simply, the higher the HashScore, the higher the rank.

How is the HashScore computed?

Every day (24-hour period in UTC timezone) a new round of daily HashScores is computed as a sum of the following 3 sub-HashScores (see below for details):

• Volume HashScore (max value: 1)
• Number of Trades HashScore (max value: 1)
• Community Engagement HashScore (max value: 2)

The maximum daily HashScore of a trader is, therefore, 4.

The final HashScore of each trader is computed as a sum of all daily HashScores during the Open Beta period. The HashScore computation goes back to the beginning of Open Beta, October 9, 07:00 UTC.

Volume HashScore

Everyone who traded during the 24 hour period (00:00:00 through 23:59:59 UTC) will receive a volume HashScore.

Every trading pair that was available on Hashflow for the entire duration of the 24-hour interval will receive an equal share of HashScore. For example, if ETH-USDT and ETH-USDC are the only two pairs, they each get a maximum of 0.5 for distribution. At the time of writing this post, there are 11 pairs available for trading on Hashflow.

Every trader trading a particular pair will receive a HashScore for that pair.

For each pair, traders who traded that pair will be ranked based on volume. Then, each trader’s HashScore for that pair will be computed as:

[Trading Volume Percentile] x [HashScore of pair]

The “Trading Volume Percentile” represents the percentile (or “rank”) of the trader in the volume distribution of that pair.

Example:

We assume that ETH-USDT and ETH-USDC are the only two traded pairs during the day. Therefore, they get a HashScore of 0.5 each.

If only Trader 1 and Trader 2 traded ETH-USDT during the day, their ETH-USDT HashScores will look as follows:

If Traders 1–5 traded during ETH-USDC the day, their ETH-USDC HashScores will look as follows:

Adding the two HashScores, the volume HashScores for the 5 active traders are:

As noted above, being the top trader in every pair achieves a perfect score of 1.

Number of Trades HashScore

The Number of Trades HashScore is computed similarly to the Volume HashScore, the main difference being that traders are ranked based on the number of trades they made in that particular pair.

Every trader who traded during the 24-hour period (00:00:00 through 23:59:59 UTC) will receive a volume HashScore.

Every trading pair that was available on Hashflow for the entire duration of the 24-hour interval will receive an equal share of HashScore. For example, if ETH-USDT and ETH-USDC are the only two pairs, they each get a maximum of 0.5 for distribution. At the time of writing this post, there are 11 pairs available for trading on Hashflow.

Every trader trading a particular pair will receive a HashScore for that pair.

For each pair, traders who traded that pair will be ranked based on the number of trades. Then, each trader’s HashScore for that pair will be computed as:

[Number of Trades Percentile] x [HashScore of pair]

The “Trading Volume Percentile” represents the percentile (or “rank”) of the trader in the “# of trades” distribution of that pair.

Example:

We assume that ETH-USDT and ETH-USDC are the only two traded pairs during the day. Therefore, they get a HashScore of 0.5 each.

If only Trader 1 and Trader 2 traded ETH-USDT during the day, their ETH-USDT HashScores will look as follows:

If Traders 1–5 traded during ETH-USDC the day, their ETH-USDC HashScores will look as follows:

Adding the two HashScores, the volume HashScores for the 5 active traders are:

As noted above, being the top trader in every pair achieves a perfect score of 1.

Community Engagement HashScore

Every 24-hour period, the top 20 most active contributors across Hashflow’s social media channels (Discord, Twitter, and Telegram) are picked to receive a Community Engagement HashScore.

The HashScores they receive range from 0.1 to 2, in 0.1 increments.

Engagement activity is measured algorithmically by:

Discord

• # of messages sent
• # of replies
• # of product feedback provided
• # of questions asked during AMAs
• Quality & depth of messages (at discretion of the team)
• # of scam reports
• # of spam reports
• # of new members joined from your invite link (to be verified by the team, excluding fake accounts)

Telegram

• # of messages sent
• # of replies
• # of product feedback provided
• Quality & depth of messages (at discretion of the team)
• # of scam reports
• # of spam reports

Twitter

• # of retweets
• # of replies sent
• # of product feedback provided
• # of likes your custom content received
• Quality & depth of messages (at discretion of the team)
• # of scam reports
• # of spam reports

Spam accounts are removed from being awarded Community Engagement points at the team’s discretion.

The Team also reserves the right to award discretionary rewards of up to 2 points at a time, for outstanding contributions such as, but limited to:

• Creating in-depth educational content (e.g. videos, blog posts, articles)
• Creating Hashflow-branded artwork (e.g. sticker packs, custom art)
• Creating memes

Learn more from this FAQ here.