Convert your Earn Points to $EARN Tokens
This blog post will guide you on how to convert your Earn Points accumulated during Airdrop Season 1 into $EARN tokens on the mainnet.
Overview
Airdrop Season 1 was a tremendous success which we celebrate by allocating a total of 50,000,000 $EARN tokens that have been allocated as rewards for participants. The top-performing user earned 2665 Earn Points, while the median for all participants was 423 Earn Points. Please read the article below carefully to ensure a smooth process for claiming your Airdrop.
Dates
📅 19th Nov '23 - 1st snapshot resulting in the addition of Earn Points to associated wallets
📅 8th Dec '23 - Guide released
📅 17th Dec '23 - 2nd snapshot resulting in the addition of Earn Points to associated wallets
📅 19th Dec '23 - Conversion of Earn Points to $EARN tokens becomes available
This guide provides full info about the process and requirements that will be needed to claim $EARN tokens. Please familiarise yourself with the following article and ensure you are all set to claim your tokens on 19th Dec (at the latest). Kindly note that certain features are still undergoing development. For today, you may cover the initial 5 points in the following step-by-step guide.
Still Time to Join and Earn!
As we celebrate the success of Airdrop Season 1, we want to remind you that the airdrop adventure isn't over yet! Keep engaging in various Zealy tasks to accumulate more Earn Points. The more tasks you complete, the more points you gather, enhancing your potential rewards in $EARN tokens. Don't miss this ongoing opportunity to boost your Earn Points and maximize your benefits in the upcoming conversion!
Conversion Rate
Earn Points are converted in a ratio of 1 to 10. That means that for every 1 Earn Point, you get 10 $EARN tokens. As an example, if you have 1,000 Earn Points you will get 10,000 EARN tokens (which at a current rate of 0.0030 would equal $30).
Step-by-step guide on how to convert Earn Points to $EARN tokens
1. Visit the Earn Network and connect the wallet you used to check your Earn Points balance. If you collected XP using Zealy, the Earn Points would have been added to the same wallet address so make sure you're connected to it.
2. Click on your wallet address and navigate to your Dashboard. Your collected Earn Points should be visible. If they're not there, they will be added during the 2nd snapshot.
3. So far, so good. Now, let's learn how to convert Earn Points to $EARN tokens. The entire process will be carried out through the MyCointainer platform. Please visit it, log in, or register if you don't have an account yet.
4. After successfully logging in, you will land on your Dashboard. Open the User menu and go to Settings and Security.
- Proceed to Verification. You must complete it to successfully convert your Earn Points to $EARN tokens.
6. Connect your MetaMask wallet. To do the successful conversion, it must be the same wallet you used to view your points on the Earn Network.
7. Visit the $EARN asset page and locate the "Redeem Earn Points for $EARN" section. If you have been an active user of the MyCointainer platform before, you may see more Earn Points than what is shown on the Earn Network platform. Proceed by clicking the "Claim $EARN" button.
- The modal will display the total number of points you have accumulated during the Airdrop Season 1 event, along with the corresponding conversion amount in $EARN tokens. This view allows you to compare your results with others.
- Upon completing the conversion, you can conveniently review the specifics of your scheduled allocations on the $EARN asset page. You may instantly use 20% of your tokens, while the remaining amount will be subject to a 6-month linear vesting period.
- To ensure successful claiming of all your Earn Points, you can verify by returning to the Earn Network platform dashboard. Your component associated with points should display the text "Claimed."
FAQ
Why are tokens being claimed through MyCointainer instead of directly to my wallet on Earn Network?
Considering the high fee prices and congestion on the Ethereum network, we are taking into account the needs of all users who receive coins, especially holders who would receive smaller amounts in the airdrop (as Ethereum fees would significantly reduce their net earnings). Additionally, if desired, you have the option to convert $EARN tokens directly to stablecoins and withdraw them through more cost-effective networks like the BNB Chain or Tron.
Why is vesting applied to my tokens?
You will get 20% of all your tokens at the start. The remaining 80% will be unlocked linearly for the next 6 months. Some members of our community have proposed implementing vesting to prevent a large number of tokens from being immediately available for sale.
Why is verification mandatory?
The purpose of verification is to establish a robust and authentic community. Unfortunately, many malicious actors and bots are trying to cheat the airdrop game. Very often such bots take advantage of many airdrops and and swiftly sell the received tokens on the market, consequently driving down the token's price.
When will the feature for claiming rewards on MyCointainer be available for me to begin claiming tokens?
We anticipate that on the 19th of December, you will be able to complete the entire process from start to finish.
Summary
Hope you had a fantastic 1st Season! We sincerely value your participation and are excited to offer more incentives for community members to earn rewards. Many users have expressed their interest in becoming our Ambassadors, so we believe this will be a key focus area for introducing new incentives.
Feel free to ask any questions directly on our Telegram or Discord.
