August 2023 - MPWR Reward and Burn

We wish to express our heartfelt appreciation to all the members of our community who actively participated in MPWR Tokenomics 1.0.

As previously announced, we are excited to launch MPWR Tokenomics 1.1, commencing on August 3rd.

• Expansion of Reward Eligibility: From Top 100 to Top 300 Candidates

  In the Tokenomics 1.0 phase, we selected the Top 100 participants with the highest scores for daily reward distribution. However, due to the growing number of members in our global community and in anticipation of further enhancing the ClubRare platform's activity, we have made the decision to broaden the opportunity for more users to earn rewards within Tokenomics 1.1.

  Starting from August 3rd, we will expand the list to include the Top 300 high-scoring participants, ensuring that more individuals can enjoy the benefits of daily rewards.

• Enhanced Vesting Missions As part of Tokenomics 1.1, we have introduced more comprehensive vesting missions for our participants. You can find the detailed information below. To strengthen user engagement and enhance the token burn mechanism, we are committed to ongoing improvements and the addition of further vesting missions.

• Token Burn Policy for Platform Fees We intend to implement a token burn policy for the platform fee based on the platform activation score. Despite the gradual increase in user activity within the ClubRare platform, the platform activity index is currently relatively low. As a response, we will be implementing a weekly token burn of 5% from the platform fee, occurring three times a week.

Starting from August, ClubRare will introduce an enhanced leaderboard system. Within this new system, participants will have the ability to view their daily rankings and track their accumulated rewards. More information regarding this feature will be provided through separate announcements.

Once again, we extend our thanks for your invaluable contributions to MPWR tokenomics and the vibrant activation of the ClubRare platform. For a comprehensive understanding of the MPWR Tokenomics 1.1, please refer to the detailed policy outlined below:

1. Reward Calculation Method

   • The top 300 participants, who have accumulated high scores by successfully completing missions, will receive rewards daily.

     Rank (by Score)	Boost
     1-75	4x
     76-150	3x
     151-225	2x
     226-300	1x

2. Ranking Criteria: A participant's rank will be based on their mission success rate, calculated from the user's sign-up date until the day before the Daily Reward measurement date.

   • [Ranking] Mission

     Mission	Score (Per Unit)	Remarks
     Sale of a Phygital NFT Item	300	- Minimum sales price: 3,000 MPWR - Only items sold in 2023 are eligible. - Only items sold using MPWR are eligible.
     Purchase of a Phygital NFT Item	300	- Minimum sales price: 3,000 MPWR - Only items sold in 2023 are eligible. - Only items sold using MPWR are eligible.
     Purchase of a ClubRare Phygital NFT Drop (Exclusive Curation of Premium NFTs)	1000
     Number of Participated Bids in Phygital NFT Auction	100	Only items auctioned off in 2023 are eligible.
     [My Profile] Number of Followers	10	The number of followers increased compared to the previous period of the mission
     [My Profile] Number of Follows	1	The number of follows increased compared to the previous period of the mission
     [My Profile] Number of Reactions	10 (per five units)	Only the number of reactions increased compared to the previous period of the mission
     Newly Connected Wallets	100
     Daily Wallet Connect	1

   • [Vesting] Mission

     Mission	Remarks	Vested MPWR to be Burned
     Daily Wallet Connect	If the wallet is not connected to the platform daily, the related vested MPWR reward will be burned.	-500,000
     Sales or Purchases of Phygital NFT Items	If no Phygital NFT items have been bought or sold - Only Phygital NFT items sold or bought with a minimum of 30,000 MPWR per item are eligible. - If a wallet is inactive since the previous token burn period, the related vested MPWR reward will be burned.	-500,000
     [My Profile] Number of Followers	If the number of followers decreases compared to the previous vesting date (reward distribution date), the related vested MPWR reward will be burned.	-10,000

3. Check your rank on the Leaderboard: https://leaderboard-clubrare.softr.app/

   • A new leaderboard system will be updated in August 2023.

4. Mission Period: August 3 - 31, 2023

   • Vesting Mission Period: 10 months (The vesting period for each participant will be determined based on their first reward distribution date, resulting in potentially different participation periods for each participant or wallet.)

5. Reward Distribution

   • Distribution Dates for Top 300 High Score Participants: Every Monday to Friday

     1. The first reward distribution for the Top 300 high score participants is set from Monday to Friday. We do not distribute rewards on weekends to allow time for the review process. Rewards accumulated during weekends will be distributed the following Monday. Please note that the schedule may be slightly adjusted depending on the system's status.

     2. In the event that two or more participants achieve identical scores, the participant who joined the platform at an earlier date will be given a higher ranking.

   • Token Burning and Vesting Reward Distribution Dates: Every Monday, Wednesday, and Friday

     1. Vesting will occur over a period of 10 months. After burning a certain amount of tokens three times a week, the remaining tokens will be vested and distributed as rewards.