Kick Starting the Community Contract Pool Economy
We announced a few days ago a new concept called Community Contract Pools.
Community Contract Pools are intended to support various initiatives. The staking rewards they collect are used to fund any initiative started by the community, effectively bootstrapping the Particl economy and allowing it to be self-sufficient.
These pools are different from regular cold staking pools in that they can charge up to 100% fees. This means stakers do not receive any staking reward from the number of coins being staked in this type of pool, but that doesn’t mean they don’t receive anything in return.
For more information about Community Contract Pools, please read our previous article on the subject by clicking the box below.
Community Contract Pools open up a lot of possibilities to expand and further decentralize the Particl ecosystem. To get the ball rolling, we’re revealing today the first initiative to be supported by a Community Contract Pool: the Ambassador Initiative.
Word of mouth is extremely important for any idea to gain traction in the collective awareness of society. Our goal is to increase the velocity of the conversation surrounding the highly anticipated launch of the Particl Marketplace. And, this idea holds even more weight with us releasing a marketplace because they are global platforms that purely rely on user activity to thrive.
This is the reason why we are announcing today the Particl Ambassador Initiative, an ambassador group actively advocating for Particl within their own social circles. This group will be directly supported by the first ever Community Contract Pool. The pool will award its ambassadors with staking rewards proportionally to their net performance in driving new people on the Particl platform.
The Ambassador Initiative
The Ambassador Initiative is a group of individuals that are passionate about Particl and are advocating for it within their own social circles. Ambassadors will have the opportunity to earn lifetime shares of the pool’s staking revenue by participating in various campaigns.
The ambassadors’ mission is simple: get people to sign-up and use the Particl platform. It directly addresses the number one requirement for marketplaces to gain traction — getting as many active users as possible.
In order to achieve its mission, ambassadors will have the opportunity to participate in various campaigns, each of them having the objective to drive new users to Particl.
Every once in a while, campaigns will become available for ambassadors. These campaigns may be different from one to another, but their purpose will always be to fulfill the ambassadors’ mission of driving new users to Particl.
Campaigns will usually last for several days or weeks and have their own rules and requirements. They will award participants with points which count as lifetime shares of the pool’s staking revenue.
Being a Particl ambassador is, simply put, setting the income wheels in motion and keeping it in auto-pilot. In fact, when you participate in campaigns, you earn a percentage of the Community Contract Pool’s staking revenue by accumulating shares.
Your performance within the lifespan of a campaign earns you more share. The number of shares you earn at the end of a challenge is directly proportional to your performance.
It’s for Life!
Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime
What’s really great about earning shares from the ambassador’s pool is that they are valid for a lifetime. This means that, once you earn a share, you keep it for life. Imagine receiving a couple of staking rewards today, and still earn some more a few years into the future!
On top of the lifetime characteristic of these shares, they are also cumulative. That means you can get as many as you can, over as many campaigns as you want to participate in. There is no cap to how many shares you can accumulate as well as no penalty for not participating in campaigns. If there’s a campaign you can’t or don’t want to participate in, you won’t be penalized by losing shares you earned in the past.
How to Qualify as an Ambassador
Anyone can qualify to become an ambassador. All you need to do is participate in ambassador campaigns and start earning shares. Note that, most of the time, challenges will require a minimum of scored points in order to qualify for the pool’s reward program.
Support Particl Ambassadors Today
Supporting Particl ambassadors with a portion of your staking rewards is like making a sort of “staking investment” in the Particl ecosystem. It incentivizes and encourages ambassadors to go out there, help grow Particl’s userbase, and be fairly compensated for their valuable time.
Growing the number of users directly adds value to the network because it increases the number of buyers, sellers, available products on the marketplace, and etc. It also dramatically increases the velocity of the Particl economy by putting more staking rewards in circulation, an issue often cited when referring to Proof-of-Stake networks. Additionally, more users transacting on the network means stronger privacy for everyone.
Simply put, the added value an effective and motivated core of ambassadors can provide to the network far exceeds what it costs to get it properly funded, especially when it’s getting funded with staking rewards. It also puts the network’s inflation to good use by having it directly contribute to its own benefit.
Even though the first ambassador campaign will only be announced in a few days, you can still start supporting Particl ambassadors today by connecting a wallet to the Community Contract Pool at https://stake.particl.community.
For a complete step-by-step tutorial on how to connect to a Community Contract Pool, visit the Wiki page here: https://particl.wiki/communitycontractpools
The Pool’s Parameters
- Website: https://stake.particl.community
- Operator: https://particl.community
- Fee: 100%
- Percentage of fees paid to ambassadors: 100%
- Payout frequency: Every 2 weeks
First Ambassador Campaign
The first ambassador campaign will be announced in a few days. It will be directly related to the pool’s mission to drive new users to use Particl and will be your first opportunity to start accumulating shares.
Community Contract Pools open up a ton of new exciting opportunities and we are more than excited to see what the community will come up with!