Web3 app store Magic Square has announced a new user rewards program with one of its largest prize pools to date. 1.5 million $SQR tokens, worth over $750,000, have been allocated for the program which is set to go live today, February 12.
Community engagement platform Zealy will host and coordinate the campaign, ensuring a slick and seamless experience for all participants. To qualify for the campaign and be eligible for rewards, participants are required to sign up as Magic Store Members and maintain active engagement within the store. In addition to the Campaign Prize Pool, there will be a daily 10,000 $SQR Reward Pool that is distributed to users based on the amount of Karma they collected on that day, compared to other users.
The 1.5M $SQR prize pool will be allocated based on a points system, directly correlated to each participant’s level of involvement. The campaign has been carefully devised in this manner to ensure a fair and transparent reward mechanism. A sophisticated anti-bot solution is in place to ensure that only genuine users are rewarded.
Andrey Nayman, Co-Founder and CEO of Magic Square said: “Launching this campaign is more than just rewarding our community; it’s about setting a new standard for engagement and investment in the web3 space. We’ve designed this initiative to not only benefit our active members but also to strategically enhance the value proposition for our token investors.”
“By increasing membership and locking tokens out of circulation, we’re directly influencing the supply-demand dynamics, aiming to positively impact the $SQR token. This campaign embodies our commitment to innovation, community growth, and the sustained success of Magic Square and its stakeholders.”
The Magic Square rewards program will help to foster highly motivated and incentivized communities who collaborate to achieve shared goals. Participants are required to be active on the Magic Store Wev3 App Store, engage with the projects listed, and make valuable contributions. To take part in the campaign, users must obtain a Premium or Premium Plus Membership, which requires locking 200 and 500 $SQR tokens respectively. Tokens can later be unlocked whereupon the user will return to Free Member status. Premium and Premium Plus members will be eligible to earn additional campaign points every day.
Designed with the goal of making web3 accessible to mainstream audiences, the Binance Labs-backed Magic Square provides a jumping-off point for a world of games and applications. The $SQR token plays a pivotal role in rewarding user behavior that strengthens the Magic Square ecosystem and the range of curated web3 apps it features.
The $750,000 campaign highlights Magic Square’s innovative approach to community engagement and reward mechanisms, establishing new benchmarks within the industry.
More exciting announcements from Magic Square will be released this week.
About Magic Square
Magic Square is the gateway to web3. It provides a universal platform for users to engage and earn rewards with DeFi, NFTs, GameFi, and much more. Backed by Binance Labs and other top-tier investors, Magic Square aims to transform the way the world interacts with decentralised applications and discovers the best of web3.
Learn more: https://magic.store/
This post was last modified on Feb 12, 2024, 12:07 GMT 12:07