ZetaChain Initiates Distribution Of 10M ZETA Reward Pool As Part Of XP RFP Program
In Brief
ZetaChain plans to distribute a portion of its 10 million ZETA reward pool as part of the XP RFP program to support community members.
Layer 1 blockchain and interoperational platform, ZetaChain (ZETA), announced plans to distribute a portion of its 10 million ZETA reward pool as part of the XP RFP program to support community members. Users can now verify their eligibility for the allocation in the Rewards section on the ZetaChain Hub.
XP is intended to promote growth for both applications and users. The RFP program encouraged applications to develop innovative methods for rewarding XP users through the core XP data layer, enhancing overall user engagement and application development.
The RFP releases concentrate on XP and actual usage as defined by individual applications, highlighting a diverse range of criteria. The program aims to link users with applications to explore utility, foster loyalty and expertise, and ultimately expand access to rewards.
Furthermore, in response to concerns about the balance of rewards between applications and users, ZetaChain highlighted that the User Growth Pool (UGP) committee has ensured equitable distribution of rewards between both parties, with oversight facilitated by TokenTable. Additionally, a portion of the 10,000,000 ZETA will be reallocated directly to users, which will be finalized as ZetaChain completes all RFP reward activations with the applications, with direct XP rewards forthcoming.
Users are encouraged to look forward to ongoing releases as applications complete their distributions and launch before October 1st. The community is invited to participate in these discussions and provide feedback throughout the process on social media and during live ZetaChain ask me anything (AMAs) sessions.
XP: A Foundational Loyalty Program And Data Primitive
ZetaChain functions as an omnichain, utilizing the principle of blockchain abstraction to serve as the foundational layer of the decentralized internet.
XP represents a core loyalty program and data primitive that relies solely on on-chain ZetaChain activity, initially available through ZetaHub. The long-term objective of XP is to become a universal, open-source cryptocurrency loyalty program, aiding teams in understanding and rewarding users through a versatile data standard. Furthermore, the XP standard extends beyond just ZetaChain Ethereum Virtual Machine (EVM) activity. As applications develop strong blockchain abstraction and omnichain interactions, the XP data layer will provide a foundation for understanding interactions across all connected blockchains.
Recently, ZetaChain announced the first round of XP airdrops, aimed at distributing 10 million ZETA rewards to incentivize user participation.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
