Building Economic Reward Models: A Different Ball Game for Crypto Community Incentives with NNN’s Karma
–News Direct–
New York, NY, July 31, 2023 (500NewsWire) — Building successful Crypto projects isnt all about getting the next alpha or mooning to 1000x, but a very key point that ensures the sustainability of every successful project is the liveliness of the community.
What if you knew you could do your favorite activity and get paid for doing so, take a dig at football or anything you enjoy doing for the love of being part of the community and getting paid to do this. This is one of the perks members of the NNN community get to enjoy, and you can, too, if you want to, of course.
What is NNN? Well, lets just call it a unique crypto community that benefits folks of all categories and demography, who can contribute to the growth of the project, even with things as little as you posting a video of you baking a cake, writing an article, etc. Anything to spread love and value in the community gets incentivized with Karma points which are converted to stablecoins at the end of every month.
That said, lets explore the importance of community incentives in DeFi protocols and take a closer look at NNN's innovative Karma mechanism, the tax model, and how the token works.
Understanding Community Incentive Models
Community incentive models are essential for projects as they encourage active engagement from community members. These models reward users based on their contributions and activities within the project, motivating them to provide feedback, contribute to development, participate in governance decisions, and refer new users. The benefits of community incentive models are numerous, fostering growth and a sense of belonging among community members. They create a positive feedback loop, attracting more users and stakeholders. Many incentive models are parasitic on the project token itself, as the incentives devaluate the token value over time. Karma, however, is different because it generates rewards in $BUSD.
What is NNN and what benefit do you get as a Holder?
The NNN token was developed by the team for the community. No dev wallet, and all that, just a token built to serve the community in the best way possible, making it community-owned in every sense.
With a transparent tax system, the NNN token contract is programmed to commit 5% tax to all holders of NNN and another 5% to the LP which is locked till the yr 2042. With this, when the LP is finally unlocked in 2042, most of the LP will already be locked into the contract, and there will be a few BNBs in our DEV LP at that time. The number 42 is quite significant to the team as it fully portrays our ultimate meaning of life being the long-term interest towards building a sustainable community model for everyday users in the Web3 space.
The NNN ecosystem also has a very transparent reward system as well as a token dilution protection mechanism for holders. With Karma, there are successive rewards for every NNN token holder and you can access all information related to the different ranks here. SigNNNal, a project built by a community member, contributes 10% of its earnings into the karma system. GuardiaNNN.ai will also contribute an additional 0.5% revenue to Karma and also 0.5% for buy-back and burn, while the Karma rewards for you are accumulated in BUSD. This means if $1M is generated in total revenue from GuardiaNNN.ai, $5k will be committed to the Karma pool and another $5k to be used to buy-back and burn the NNN token. All these rewards in stables as well as the token dilution mechanism which also includes a death wallet that creates deflation, help keep your NNN tokens worth safe from devaluation.
NNN's Karma System Explained
The NNN Karma system is a groundbreaking incentive model designed to foster active participation and engagement in the community. Making valuable contributions to earn you real money without affecting the NNN token, as they are not directly linked to one another. Rather, Stablecoins used to fund the Karma model are generated from profit-generating tools of individual projects and are not directly linked to the NNN token tax.
The Karma System paves the way for a strong and collaborative network by incentivizing users to contribute to the community's growth. From participating in marketing contests, contributing to key events in the community, etc. This is somewhat similar to Stargate's voting proposals as well as Gitcoin donations where community members get incentivized via airdrops from different protocols or oats that make them eligible for one presale or the other, thus resulting in material gains. However, NNNs karma takes this a bit further by including things like notable posts in the community which everyone can vote to decide whether it is worth incentivizing by giving Karma points themselves, with all this without affecting the value of the token.
Join the NNN Community now to fully explore the Karma system yourself and make the most of it by contributing to the growth of the Community by: posting valuable content on our telegram, actively engaging on our discord server completing zealy quests for driving engagement as well as being a regular user of the GuardiaNNN.ai platform.
Want to further contribute to the Crypto space doing what you love? Then you need to be a part of our community, Its just a click away!
Contact Details
NNN Community Ltd
Luk Balga
View source version on newsdirect.com: https://newsdirect.com/news/building-economic-reward-models-a-different-ball-game-for-crypto-community-incentives-with-nnns-karma-340778848
500NewsWire
COMTEX_437612944/2655/2023-07-31T11:59:15