cryptopolitan.com
ZetaChain, the blockchain platform focused on powering universal apps across multiple chains, has disclosed a new reward system called Instant Rewards.
This new method is different from traditional cryptocurrency incentive models such as airdrops and points-based systems.
ZetaChain addresses challenges of airdrops
The introduction of Instant Rewards comes as ZetaChain acknowledges the growing challenges associated with conventional reward mechanisms.
Traditional airdrops and point systems have faced criticism for creating inflated expectations. They were also said to often lose meaning after initial distribution. In response, ZetaChain has developed a more immediate and transparent way for users to earn rewards for their interactions within the ecosystem.
đź‘‹ Hello, Instant Rewards!
— ZetaChain (@zetablockchain) October 9, 2024
Discover ZetaChain’s new web3 perks model to grow the first universal blockchain: https://t.co/3zRddoeEko
ZetaChain’s journey in creating reward systems dates back to 2017. This was when its core contributors helped create Basic Attention Token (BAT).
The platform continued this tradition with its ZETA Points system in 2021, which ended in a 31,500,000 ZETA airdrop to over 800,000 participants. More recently, ZetaChain’s mainnet launch introduced an XP-based loyalty program, distributing 10,000,000 ZETA to over 100,000 loyal users.
New rewards system lets users claim ZETA immediately
The new Instant Rewards system allows users to claim real ZETA tokens immediately. In its initial stealth launch, Instant Rewards has already distributed 3,000 ZETA to over 9,000 ZetaChain stakers.
Also, 150,000 members have already minted their XP NFT to access instant rewards. “In just three weeks, over 150,000 users minted their XP NFT, unlocking perks like Instant Rewards,” ZetaChain stated.
Apart from instant rewards, the platform also plans to implement status-based gating for rewards and open up the system to ecosystem developers.
Additionally, ZetaChain has also announced the creation of an exclusive Global Advocacy Group. This private social group, initially consisting of 378 members, is designed to foster genuine support for ZetaChain’s mission and vision.