New CEN Reward Structure, A Must Read...

Hey gang, forgive us for sending you another serious email. We just need to get our ducks in a row…

Let’s Talk Reward Structure

Our initial structure was aimed at rewarding the earliest participants. Which has worked out well. Many subscribers have been very active by sharing their referral links far and wide.

Some legends have even been running NFT giveaways to pump their referral link which has put them in the top ranks of the CEN rich list.

We set up the reward structure knowing that, maybe in the future (maybe if our token had some strong value), we would have to change things to prevent bad actors from token farming and dumping CEN tokens.

What do we mean by Token Farming?

Well, imagine if CEN tokens were worth $10 each and we are giving 500 CEN as a reward per referral.

Anyone with time on their hands could set up multiple email accounts and twitter handles, then boost their referrals with fake subscribers. Just 10 fake accounts would net a bad actor 5,000 CEN tokens (or $50,000 in this hypothetical example).

Like we say, we knew token farming could be a risk but we thought it would happen once we had some traction and the CEN token was distributed.

Well that was a naive assumption on our part as there has already been token farming on our platform.

From today the old structure of rewards will cease.

We will honour the rewards you have racked up so far. You will get:

100 CEN per week that you have been subscribing to the newsletter (including this week).

500 CEN for each referral you have (see your referral count at the end of this email).

Any bad actors who have been token farming will be unsubscribed and removed from the rewards database.

Now, Let’s Go Over The New Reward Structure.

Our new structure is aimed at rewarding participation while preventing token farming.

To be eligible for any rewards you must be an active subscriber, this just requires that you open at least 50% of the emails that we send you.

You will also need to have filled out the survey we emailed to you on March 10th requesting your Twitter handle and SGB wallet address.

We need a social media link for our subscriber audits, just to check that you are an actual human.

Rewards will be distributed every Wednesday.

Rewards are calculated on the CEN balance in your wallet.

The reward for being an active subscriber is 0.1 CEN per CEN held in your wallet.

Let’s have a look at an example subscriber:

Meet Vincent:

He has subscribed for 3 weeks and racked up 10 referrals, meaning his initial airdrop will be:

300 CEN (100 CEN for each week he has been an active subscriber)

Plus

5,000 CEN (500 CEN for each referral)

His airdrop is 5,300 CEN…

Vincent will receive a reward of 530 CEN (0.1 * 5,300) in the first week as long as he keeps his 5,300 CEN balance in his wallet.

To calculate your rewards we will take two random snap shots of your CEN wallet balance each week.

The snap shots will occur between Saturday (13:00 GMT start) and Wednesday (13:00 GMT end), your rewards will be calculated on the average of your CEN balances.

Whale Watch…

You will earn CEN rewards for the first 50,000 CEN you hold, this reward cap is designed to incentivise the individual investor and prevent whale manipulation.

But remember, whenever this project earns real world revenue we will use the funds to purchase CEN on the open market and distribute that value as Bonus CEN.

When we distribute Bonus CEN you will be ranked by the percentage of the CEN supply you hold.

For example:

If the newsletter generates $10,000 in revenue and you hold 10% of the CEN supply.

Then you will receive $1,000 value in CEN tokens.

So maybe you should aim to hold more than the 50,000 CEN reward cap?

This reward structure works for our current growth rate and serves to reward early participants. As we grow there will need to be further changes.

Changes will be decided through polls in our emails, so you guys are in charge…

Any Other Rewards?

Referrals: There will be no rewards for referrals. It is simply too easy to game the system. We will conduct regular subscriber audits and issue occasional rewards to top performers.

Contribution rewards will remain at 1,000+ CEN per published item.

We hope you understand why we have had to make these changes and welcome any feedback you have, please leave comments through the Poll below and we will address them during our AMA very soon.

Sooooo, Wen CEN?

Later this week we will send you 1 CEN token.

This will be the final test of our reward manager contract and will serve as a reminder to anyone who has yet to add their wallet address and social media link (see our email from March 10th).

Once this single CEN token has been sent to you, we will issue an email with instructions on how to add CEN to your wallet so you can see the balance.

If everything runs smoothly we will issue the CEN airdrop a few days later.

Then weekly thereafter.

We have sooo many announcements coming up, stay tuned sports fans…