This guide is designed to provide clarity and insight into the incentivized Soarchain testnet, a critical phase in the development of the Soarchain ecosystem. This testnet phase is not just a trial run but an opportunity for participants to actively engage with and contribute to the Soarchain network, while being rewarded for their involvement.
Throughout this guide, we will explore the structure of the testnet, the role of participants, and most importantly, the reward system in place. The incentivized testnet of Soarchain is a unique environment where participants – ranging from individual vehicle owners with Motus devices to network validators and developers – can test, verify, and enhance the network's capabilities. The aim is to ensure that the Soarchain mainnet launch is robust, efficient, and primed to revolutionize the mobility and data exchange landscape.
Total Token Supply : 1,900,000,000 MOTUS (100%)
Total Testnet Tokens : 46,930,000 MOTUS (2.5%)
Soarchain has allocated 2.5% of its total token supply, amounting to 46,930,000 MOTUS tokens, for testnet participants. This guide breaks down the reward distribution across five categories.
1) Motus mini owners
1. Motus Mini Owners
A total of 1% of the total supply (19,000,000 MOTUS) is reserved for Motus mini owners in the testnet. The rewards for each Motus mini owner are proportional to their testnet token earnings. The formula for calculating the mainnet rewards for Motus mini owners at the beginning of the mainnet is:
To give an example, let's assume that the Motus mini Owner A earned 1000 tMOTUS and the Total Accumulated Testnet Rewards of all users are 5,700,000 tMOTUS. The the Compensation Coefficient becomes;
And the Mainnet Motus Mini Reward for Motus Mini Owner A becomes;
Approximately 950,000 MOTUS tokens are allocated for distribution among validators. Additionally, validators engaging in Technical Support and Community Engagement tasks will be eligible for extra rewards.
Total Reward: 152,000 MOTUS tokens.
Every testnet validator will have an Uptime Score from 1 to 10. This score is proportional to the uptime duration of that individual testnet validator. If the validator’s uptime is 95% then the Uptime score will be 9.5. All scores of the testnet validators will be determined at the end of the testnet.
On average a validator will earn 2533 MOTUS tokens from Uptime rewards.
b) Node Updating Rewards
Total Reward: 152,000 MOTUS tokens.
Every testnet validator will have a Node Updating Score from 0 to 10. The validators will have a sliding window of time to update the nodes once there is an update on the testnet. The scores are calculated with the time passed for doing the node update. For example if a validator updated the node 7 hours after the announced time the score for the Node Updating will be 9.
On average a validator will earn 2533 MOTUS tokens from Node Update rewards.
c) Governance Proposal
Total Reward: 76,000 MOTUS tokens.
Every testnet validator will have a Governance Score from 0 to 10. This score is proportional to the percentage of the participation to the Governance proposals. For example if the validator participated in 9 of the 10 proposals then the Governance score will be 9. All scores of the testnet validators will be determined at the end of the testnet.
On average a validator will earn 1266 MOTUS tokens from Governance rewards.
d) Community Engagement
Total Reward: 570,000 MOTUS tokens.
Rewards based on task completion.
During the testnet there will be approximately 10 community engaging tasks/challenges for validators to complete. These tasks would be related to the community engagement and marketing efforts for advertising the Soarchain ecosystem to masses. When a validator completes one task they will get 500 to 1000 MOTUS tokens per task completion.
The maximum possible number of rewards to earn is 10,000 MOTUS if the validator participates in every challenge.
e) Technical Support and Bug Bounties
There is no upper limit reserved for the technical support and bug bounties.
Rewards vary based on the nature of technical support or bug fixes.
The version 1.0 of the Bug Bounty Program can be found here:
The Zealy program rewards community members who complete specific onboarding tasks. These rewards will also be converted to mainnet tokens. Check out the Zealy portal from: https://zealy.io/c/soarchain/questboard
b) Bug Bounties for Community
Our Bug Bounties Program is an invitation to developers, technologists, and enthusiasts to help us identify and resolve potential vulnerabilities within the Soarchain network. By offering rewards for bug discoveries, we aim to leverage the collective expertise of our community to fortify our platform's security and efficiency. This program is a testament to our belief in the power of collaborative problem-solving and our commitment to maintaining a robust and secure blockchain infrastructure.
The detailed Bug Bounty Program can be found here:
c) Airdrops to the Community
The specifics of this campaign will be covered in upcoming articles.
The Community Airdrops are designed to appreciate and incentivize our community's involvement. These airdrops will distribute MOTUS tokens to active participants within the Soarchain network, rewarding those who contribute significantly to the ecosystem's growth and development.
Stay tuned for more information on these exciting programs, as we continue to build a more inclusive, secure, and thriving Soarchain community.