ðĪReward Pools
Last updated
Last updated
Reward Pools on Magic Store are special pools designed to incentivize and reward users for their participation and activities on the platform. By joining these pools, users can earn various types of rewards, such as Karma and SQR, based on different criteria and distribution methods. These pools are a great way to earn extra rewards for engaging with the Magic Store.
Reward pools can be limited by the number of users or by a specific time period. To participate in Reward pools, follow these simple steps:
Join Magic Store: Ensure you have an active account on Magic Store.
Navigate to Reward Pools: Go to the Reward Pools section on the Magic Store platform.
Choose a Pool: Browse through the available pools and select one that fits your current activities and eligibility.
Join the Pool: Click on the pool you want to join and follow the instructions to participate. You may join as many pools as you want.
Rewards can be earned by meeting the criteria defined in the access policy specified in each Reward Pool. These criteria can include accumulating a certain amount of Karma, claiming a specific number of hot offers, or being among the first participants. The more active and engaged you are on the platform, the more rewards you can earn.
Distribution policies determine how rewards are allocated among participants in the various reward pools on Magic Store. Here are the different types:
Pro-rata Karma Based: In this distribution model, the total reward pool is divided based on the amount of Karma each participant has earned during the pool's duration, regardless of when they joined. The more Karma you accumulate, the larger your share of the rewards.
First Come, First Serve (FCFS): In a First Come, First Serve (FCFS) pool, rewards are distributed to a limited number of users. Once the maximum number of participants is reached, no new users can join the pool. At the end of the pool period, the rewards are distributed equally among the participants.
First Come, First Serve V2 (Immediate Reward): The FCFS V2 pool operates similarly to the ordinary FCFS pool, with one key difference: the rewards are distributed immediately after a user joins the pool. There is still a limit on the number of participants, and once this limit is reached, no new users can join.
Raffle: In a Raffle pool, the winners are chosen randomly from all the users who have joined the pool. This policy gives every participant an equal chance of winning, regardless of the amount of Karma earned or the time of joining. Rewards will be distributed once all spots are filled. If not, they will be distributed when the pool time expires.
Each reward pool may have different access policies that determine who can join. There may be one or multiple conditions that users need to meet. These policies include:
Membership Tier Required: Access is based on your membership level (Free, Plus, Premium, Premium Plus).
Minimum Karma Required: A minimum amount of Karma is required to participate.
Claimed Hot Offers by ID: Requires the claiming of specific hot offers.
Number of Claimed Hot Offers: Requires the claiming of a certain number of hot offers.
Applications Voted: Requires voting for specific applications.
Staked Amount of SQR: Stake the required amount of tokens on Magic Staking.
Applications Voted Amount: A minimum number of applications must be voted for.
SQRp Holdings: Hold the required amount of SQRp tokens in your account.
Referred Friends: Successfully invite the required number of friends to Magic Store.
Hot Offer Claim Amount: A minimum number of hot offers must be claimed.
Hot Offers Claimed: Requires the claiming of specific hot offers.
Magic Board Tasks Claim Amount: A minimum number of tasks must be claimed.
Magic Board Tasks Claimed: Requires the claiming of specific tasks.
Magic Launchpad IDOs: Requires participation in specific IDOs on the Magic Launchpad.
Magic Launchpad IDO Volume: Requires a minimum volume in USDT invested in IDOs on the Magic Launchpad.
Magic Launchpad Turbo Charge Volume: Requires a minimum Turbo Charge volume in USD used in IDOs on the Magic Launchpad.
Daily Login Amount: A minimum number of logins on the Magic Store is required.
Magic Store User Account Age: The Magic Store account must be at least a certain number of days old.
Discord Role: Requires specific Discord roles to be held in the Magic Store Discord server on the account linked to your Magic ID.
Magic Swap Volume: Requires a minimum volume in USD swapped on Magic Swap (all time, any token to any token).
Token Swap Requirement: Exchange any supported token for a specific token on Magic Swap. The target token amount is fixed, but prices may fluctuate during the swap.
