As the FT crowdsale ended, so did the Fabric Token bounty program. In this announcement, we will lay out the plan for distributing the 1 million FT allocated to the various bounty campaigns.
Step 1. Update Stakes for All Campaigns
First of all, we need to examine how the number of tokens per stake is calculated. Let’s take our signature campaign as an example, as we’ve already updated the stakes and set the tokens for each participant in it.
In the signature campaign, we have a total of 19,877 stakes (you can see that by simply selecting the entire column in the spreadsheet), which were distributed among a total of 86 people. We also know that we have allocated 500,000 FT to the signature campaign. So, if we want to know how many tokens each stake is worth, all we need to do is divide 500,000 by 19,877. The result is 25.15470141369422.
Now, all we need to do in order to calculate how many FT each participant is going to receive is to multiply their stakes by 25.15470141369422. That’s how the token distribution is calculated in a stake-based program. If you select the entire Tokens column on the signature campaign sheet, you will see that the total sum is exactly 500,000.
Over the next few days we will update the stakes for all of the campaigns in the FT bounty program. We have already done so for the signature, translation, and Twitter campaigns, so what’s left is the blog/media campaign and the airdrop campaign.
The last one will take a while as there are quite a lot of participants and we need to check each one in three different channels – Telegram, Slack, and our mailing list. Once the stakes for all campaigns are updated, we will announce on the official FT bounty program thread.
Step 2. Disputes
Once we announce the final stakes, we will allow some time for participants to check their information i.e. ERC20 wallet address (where they will receive the tokens), stakes, etc. If there’s anything wrong and you would like us to fix it, please contact @donchokaraivanov on Telegram and he will help resolve your issue.
Step 3. Distribution
Since transfers on FT are frozen, the bounty tokens will not be distributed until the Fabric Token is listed on a good exchange. When that happens, transfers on the token will be unfrozen and we will then announce when the tokens for the bounty program will be sent to their respective owners.
We will most probably distribute in the following sequence:
- Signature campaign tokens.
- Translation campaign tokens.
- Blog/media campaign tokens.
- Twitter campaign tokens.
- Airdrop tokens.
A total of 1 million FT will be distributed across all of our bounty program campaigns with the following sub-distribution:
- 50% (500,000 FT) for the signature campaign.
- 25% (250,000 FT) for the translation campaign.
- 10% (100,000 FT) for the blog/media campaign.
- 10% (100,000 FT) for the airdrop campaign.
- 5% (50,000 FT) for the Twitter campaign.
The final numbers for each participant will be announced once we have the checked all of the contributions in each campaign.
- Signature campaign participants can now remove their signatures.
- Airdrop participants should remain in the channels they joined until we announce that the stakes for that campaign have been updated.
The FT bounty program brought some good exposure to our project when it was still young and unknown and so it’s only fair that we deal with all participants in all campaigns as openly and as transparently as possible. We want to thank everyone who participated, helping us spread the word about the Fabric Token ecosystem. It really helped lift the project off the ground.