Swiss-based Melonport AG is introducing a series of blockchain asset management testing cases. Participants will be rewarded with 500,000 MLN tokens for improving the protocol.
ZUG, MAY 29 - Melonport AG has devised an innovative means of distributing its remaining tokens. Following a successful token sale in 2017, the Swiss organization is left with 500,000 Melon (MLN) tokens. Rather than distribute these in a traditional manner, Melonport has created a series of sub-contribution periods called Melon Olympiad. This will ensure that tokens are allocated to active community members who engage and use the Melon asset management ecosystem.
The distribution of half a million Melon tokens via a rewards-based public contribution period is in keeping with Melonport’s commitment to creating a diverse and decentralized ecosystem in which there are as many participants as possible. By awarding tokens to testers who have put their time and energy into scrutinizing the Melon software, it will also ensure adoption and help further improve our codebase.
Announcing the initiative, Melonport co-founder Mona El Isa said: “Melon Olympiad is an opportunity for participants to experiment with our protocol. We couldn’t think of a better way to test the scalability and robustness of the software. At the same time, we know there is some work and effort required in doing this so we hope we can create a mutually beneficial scenario for our community and us. Participants will be given half a million Melon tokens at a discount, and we’ll benefit from testing our codebase in a real simulation.”
The contribution period will be split into five rounds referred to as Melon Olympiad capsules, with a portion of tokens allocated for each stage. Upon completion of the Melon Olympiad, all 500,000 tokens will have been issued. In keeping with the mythology and provenance of the Olympic Games, each round will be named after a Greek island, commencing with Paros. Participants will be obliged to create a fund and send Ether to the relevant Olympiad smart-contract, which will then be matched with an equivalent amount of MLN tokens plus an additional incentive amount. It is then up to the participant to manage the fund for a period of two weeks with a view to maximizing capital appreciation.
Participants interested in taking part in the Melon Olympiad can register at olympiad.melon.fund.
Latest News Releases from #BusinessOfCrypto
- SALT Lending on the inquiries about the state of their business
- traceto.io Partners with AI Trading Platform
- Fintech company Nexo offers to buy SALT Lending
- Etheremon launches new game mode that gives players full control of their in-game assets
- Open Data Exchange Raised Over 60 MM USD in Private Placement from Pantera, BlockTower and others
- Zilliqa announced blockchain grants for technology developers
- Wyre acquired Hedgy, platform for smart contracts on Bitcoin
- Universal Protocol - new platform for practical interoperability of blockchains - gets backing of capital asset management firms
- Blockchain KYC Platform traceto.io Partners with Yincubator
- FundRequest launches a Blockchain Marketplace that Rewards Developers for Open Source Contributions