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Witnet Testnet Incentive Program

Witnet Testnet Incentive Program

    The Witnet Protocol has launched rewards program. Complete various tasks and get rewards. Among the tasks are running a node, testing applications, searching for bugs, programming and other.

    Reward pool
    $30 000+
    DAI, WIT
    Expected profit
    from $10
    DAI, WIT
    Max participants
    ∞
    No limit
    DropsEarn score
    Neutral
    Normal, Low Risks
  • Activity Type: Bug bounty Programming Social networks Nodes Community
  • Date: 27 May 2020 00:00(UTC+3) - 1 Jul 2020 00:00(UTC+3)
  • Registration: Closed
  • Event status: You can't participate (Event ended)
  • Links: Official Website Join Testnet Program Terms And Conditions
Go to event page

How To Participate

  1. Sign up now, and receive updates, announcements and tasks tailored to your knowledge and interests: Here
  2. The team will contact you in the next few days with details on where to start.

Three Ways to Participate:

1. Run a Node

Up to 12.5 Million (50%) of the allocated WIT tokens will be awarded to node operators during the program period.
 

  • Run a Witnet node (or multiple nodes) with a publicly routable and static IP address
  • No GPU / CPU or expensive hardware needed. Witnet selects block proposers based on a custom reputation system
  • Operators whose nodes propose eligible blocks during the program will be awarded a portion of the Mainnet WIT token allocation
  • No lock-ups! Your WIT tokens will be ready to use for data requests on the Witnet network as soon as Mainnet launches

2. Find Bugs and Build

Up to 30,000 $DAI has been allocated to hackers, technical whizz-kids and bug-hunters. Allocations will be made on a discretionary basis by the Witnet Foundation, using the guidelines outlined by OWASP and HackerOne.
 

  • Create a Witnet data request that potentially affects the long-term or short-term fairness of distribution, liveness or security of the network = Up to 1000 $DAI
  • Build and deploy dApps that use the Witnet protocol or provide vital system information = Up to 2000 $DAI per dApp
  • Uncover a bug, or coordinate an attack which potentially affects liveness, safety, censorship or hard fork on the network = Up to 5000 $DAI    and more...

3. Contribute to Witnet

Up to 12.5 Million (50%) of the allocated WIT tokens will be awarded to contributors in the community.
 

A. The Hustler
 

  • Write articles, make videos, host podcasts etc that feature Witnet
  • Run a regular Witnet webinar or webcast
  • Organize a Witnet meetup or hackathon
  • Invite people to be node operators
  • Introduce a project that adopts Witnet    and more...
     

B. The Hemingway
 

  • Improve and add to current content (codebase and documentation, technical & non-technical)
  • Update out-of-date or incorrect Witnet content
  • Improve documentation
  • Translation services (Spanish, Chinese etc)    and more....
     

C. The Help
 

  • Troubleshoot with other community members
  • Take on an admin and moderator role
  • Help create useful Witnet content (e.g. walkthroughs)
  • Answer community questions    and more...

Additional Information

What is Witnet?

The Witnet protocol, as outlined by the Witnet Whitepaper, allows a network of computers to act as a "decentralized oracle" that retrieves, attests and delivers information to smart contracts without having to place trust in a single entity.
 

What are WIT tokens?

Witnet runs its own Blockchain, with a native token called WIT. The WITs are earned by witnesses when resolving a data request and mining blocks, and are used to encourage fair and trustworthy behaviour throughout the network.

  • No more than 2,500,000,000 WITs will ever exist.
  • 70% will be mined by witness nodes through block rewards, which decrease over time.
  • 30% will be minted in the early stage block (first block in the chain). These will be assigned to early contributors (participants in the pre-sale conducted in 2017; the Witnet Foundation; and those who helped to build Stampery)

After Mainnet, mined tokens will be released in the following way, subject to change:

  • The number of WITs generated per block starts at 1000 and is set to decrease geometrically, with a 50% reduction every 1,750,000 blocks, or approximately every 2.5 years.
  • Each of these periodic reductions is known as "halving".

Why a Testnet Incentive Program?

The Witnet Community has put a whole lot of blood, sweat and code into creating a robust protocol, with an incentivization mechanism behind it that will ensure the long-term health of the network. However, the game theory and the mechanisms that underpin the project need real-world testing, with real-world rewards. The Incentivized Testnet is a way to test the network in a sandbox environment to make sure it works as intended.

In addition, there's still a lot of work to do to ensure that the documentation, community channels and external communication is top-notch. The Witnet Foundation acknowledges the importance of ensuring that early community participants are rewarded for their vital contributions.

How do I run a node?

The Witnet Testnet is open for anyone to join and test it by running their own full node. Witnet requires neither Proof of Work nor Proof of Stake - our custom reputation system means there's no need for expensive hardware or large initial investments.

Setting up a node takes a few minutes, and anyone can do it (regardless of technical experience). Get started now at docs.witnet.io/try/run-a-node/.

NO U.S PERSONS MAY PARTICIPATE IN PHASE 2.

Residents or citizens of the United States, or those on account or benefit of a U.S person MAY NOT participate in Phase 2 and WILL NOT be rewarded. This rule will be strictly enforced via a KYC procedure.

Links:

Telegram
Discord
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Program Terms and Conditions Here