Here at Mintlayer, we are focused on attracting the best developers in the world to support innovative projects on the Mintlayer blockchain.
Even though developers are at the core of the Mintlayer ecosystem, we are developing our software stack so all community members, no matter how technically proficient, will be capable of running a node, and join in our proof-of-stake consensus mechanism.
Holding the ML token and setting up our node software are the only prerequisites for earning block rewards. Users that cannot afford the cost of running a full node will have access to staking pools, so you can earn rewards no matter how much ML you hold.
Blocksigner Rewards
As the ecosystem operates, each Mintlayer block will generate a block reward that will be distributed to the users that participated as blocksigners for that block.
A total of 200,000,000 ML tokens will be distributed to blocksigners over a 10-year period.
After the block rewards run out, Mintlayer will transition to a fee only based reward system.
Token Supply Disbursements
At the token launch event, 15,820,000 ML will have been created in total. We will distribute these tokens to community members that took part in the various fundraising rounds, used to help facilitate exchange listings, and disbursed to the various community members (advisors, promoters, developers) that have earned an ML stake.
There have been many airdrops available for community members to earn ML tokens by completing simple tasks or referring friends. We presented these opportunities through the launch site.
Launch Site Airdrops by Period
Before November 10, 2021
- Users could earn 25 ML tokens by subscribing to Mintlayer.
November 11, 2021 to November 17, 2021
- By following Mintlayer on Twitter, users could earn 50 ML tokens.
- By joining our Telegram group, users could earn 50 ML tokens.
- Users could earn 50 ML tokens by retweeting a pinned post.
- Completing KYC approval allowed users to earn 25 ML tokens.
- Referring a friend could earn 10 ML tokens.
- A friend’s referral could be used to earn 10 ML tokens.
November 18, 2021 to March 2, 2022
- By following Mintlayer on Twitter, users could earn 10 ML tokens.
- By joining our Telegram group, users could earn 15 ML tokens.
- Users could earn 15 ML tokens by retweeting a pinned post.
- Completing KYC approval allowed users to earn 10 ML tokens.
- Referring a friend could earn 5 ML tokens.
- A friend’s referral could be used to earn 5 ML tokens.
March 3, 2022 - Present
- Users can earn 5 ML tokens by referring a friend.
- A friend’s referral could be used to earn 5 ML tokens.
Participation Rewards
The token rewards that can be earned through blocksigning and community incentives are nice, but they aren’t the only rewards that network participants can earn.
Governance
By holding the ML token, participants are eligible to take part in the decision-making mechanism. They will be eligible to express their opinions on future protocol development.
Ecosystem Services
Users can trade their ML tokens for ecosystem services that cannot be purchased anywhere else. Developers have the unique opportunity to trade tokens for advice and labor from individuals involved in the development of Mintlayer. This is especially useful for a project that intends to build on Mintlayer.
Node Programming
Using your ML tokens to set up a node gives you the opportunity to decide which other tokens users can pay fees with. This is a powerful tool for organizations that have their own proprietary token on Mintlayer and want to allow their community to use their token for fees.
Conclusion
As the Mintlayer ecosystem grows, there will be a constant influx of new projects offering their own reward schemes. Users will participate in features like liquidity pools, staking, lending, airdrops, and many other DeFi use cases that generate rewards.
