“Piggy Participation Week” Schedule & CMFI Rewards Breakdown
We briefly covered the idea and theories behind introducing “Piggy Participation Week” in one of our last blog posts, viewable here.
“ 🐷 Piggy Participation Week” is our way of saying thank you to our loyal supporters and advocates through the ups and downs of attempting to make the most comprehensive trading tool suite in existence. This event is scheduled to begin on February 14th, 2022, and run until February 18th, 2022.”
During this event, members of the Piggy Council can participate in simple social tasks to earn their rights towards $CMFI token rewards given out shortly after the event has finished. There were originally only three tasks scheduled but after further consideration, we have decided to introduce a new task every day of the event in order to boost social visibility of the NFT collection, our suite of trading tools, and our encompassing ecosystem that these both belong to.
The event has already kicked off with a massive amount of participation from current Piggy Council members. It’s not too late to join! All a user needs to do in order to access the event is to pick up a Compendi-Pig from MagicEden or another supported NFT marketplace (like FTX.us) and then verify their ownership via our Discord server integrations with Grape Protocol.
The first two tasks can be found here:
A new task will be posted each day moving forward with some extra hints attached on earning extra credit bonuses. All tasks will be posted directly to our main Twitter account and also in the announcements channel of our official Discord server. After completing a task make sure to submit the evidence in the official “🙏🏼┃piggy-week” channel in Discord. This channel only becomes viewable after a user has verified they own a Compendi-Pig NFT using the Grape Protocol integrations mentioned above.
While we do have a bot parsing entries, we have decided to also introduce a dedicated form for entries after the event is over in order to make sure all information and bonus entries are correctly captured. Our team will need at least 7–10 days to calculate and verify all entries as accurate.
$CMFI Rewards Breakdowns
All rewards for this event will be paid in $CMFI from our unlocked “Ecosystem Incentives” allocation pool. Reward payments will begin airdropping to participants after verification of participation has been completed.
$CMFI Reward payments will be calculated via a standard algorithm.
(Base Reward) x (Number of Compendi-Pigs Held) x (Overall Rarity Score)
Base Reward = 20 CMFI per task
Max Base Reward For Completing All Tasks = 100 CMFI
Number of Compendi-Pigs Held: Standard integer for the number of official NFT’s held in the attached wallet address.
Overall Rarity Score: A sum of all rarities of held pigs. The rarity metadata for each owned Compendi-Pig NFT will determine the Overall Rarity score with rarer NFT’s being worth more than common NFT’s.
Common = 3
Uncommon = 4
Rare = 6 (includes NFT with rarity metadata mistakenly set at “4”)
Epic = 8
Legendary = 10
Mythic = 13
For example: If a user holds 2 common pigs and a rare pig then the overall rarity score for that user would be (3+3+6) 12
Example of Full Reward Algorithm:
User A completes all tasks and earns a 100 CMFI base reward
User A currently holds 3 Compendi-Pigs (2 commons and 1 Rare)
Base Reward (100) x Pigs Held (3) x Overall Rarity Score (12) would earn User A 3,600 CMFI.
— — — —
Make sure to stay up to date with the event and participate in all available tasks! We’ll also be making some awesome announcements towards the end of the event for what we have planned regarding Drops 4 & 5 and planned liquidity integrations. Our team is currently exploring the best payout options and finalizing the rewards payment/airdrop style. More information about exact payment details will be made available during our verification processes.
PLEASE NOTE THAT YOU MUST OWN A COMPENDI-PIG AND HAVE THE VERIFIED ROLE OF “PIGGY COUNCIL” IN OUR OFFICIAL DISCORD. PLEASE FOLLOW THE DIRECTIONS IN THE “VERIFY-REACT” DISCORD CHANNEL PROVIDED BY GRAPE PROTOCOL.
— — — —
Update: Due to massive participation from the growing community we have had to add a capsize to the rewards. This cap is set at 6,000,000 CMFI delivered from the ecosystem incentives wallet. If this amount is hit then we go to a ratio system that adds all “Rewards Points” together and awards each user their percentage of the total 6m CMFI. So if User A had 10 total points and the total amount points for all users combined were 1000 then user A would receive 1% of the max CMFI allocation. The ecosystem incentives wallet is also for NFT Staking, Trading Rebates, feedback incentives, and Referrals as well. There’s only 16,716,000 CMFI available and unlocked in this wallet until January 24th, 2023 and bleeding the whole system dry on one event does not allow us to introduce the extra utilities and use-cases from this wallet.