Without our amazing community Palmyra would not be where it is today. This is why we want to reward our early supporters and members of the community that believed in us since the very beginning! On top of regular ISPO rewards, delegators can get additional rewards by qualifying for our Bonus Reward Program. Based on how long and how much you delegate you can win a significant amount of Bonus $PALM.
An additional 100 million tokens are set aside for the Bonus Reward Program. Our goal is to incentivize and reward early and loyal participants.
There going to be 3 tiers:Tier1 – 15% Bonus: For those who’ve missed less than 3 epochs, and participate until the last epoch. Tier2 – 10% Bonus: For those who’ve missed less than 5 epochs, and participate until the last epoch. Tier3 – 5% Bonus: For those who’ve missed less than 7 epochs, and participate until the last epoch.
This 100M extra PALM reward will be shared between all participants eligible for bonus rewards. The amount of rewards is governed by the weighting factor, which ensures that top categories receive proportionally higher rewards than lower categories. Your bonus reward is not related to how much PALM you accumulated, but instead on how many people qualified in the Bonus Reward Program and which weighting factor you got. See equation and example below for more details.
Below are the criteria and rewards for each tier, followed by an example.
| Tiers | Criteria | PALM Weighting Factor |
|---|---|---|
|
🌴Tier1 |
epoch missed < 3 |
15% |
|
🌴Tier2 |
3 < epoch missed < 5 |
10% |
|
🌴Tier3 |
5 < epoch missed < 7 |
5% |
A 500 ADA minimum is applied to the categories to discourage people from creating many wallets in order to game the Bonus Reward mechanism.
Epochs don’t have to be consecutive (only total number of epochs matters).
Changing PALM pools won’t affect negatively your rewards. As long as you use the same wallet address your delegation stats will be tracked across the 2 PALM pools.
Example on how we’ll calculate the bonus rewards
Let’s say the ISPO ends with these numbers of participants in each Tier:
| Categories | Number of Qualified Participants (example) | Bonus PALM Allocation Per Qualifier |
|---|---|---|
|
🌴Tier1 |
74 |
750,000 PALM |
|
🌴Tier2 |
100 |
333,333.33 PALM |
|
🌴Tier3 |
201 |
55,555.556 PALM |
Bonus Qualifier Reward=100,000,000 PALM =(# of 15% tier qualifiers) +(# of 10% tier qualifiers)+(# of 5% tier qualifiers).
Therefore, these should be the bonus amounts available in each category
Tier1 Bonus Reward Calculation: (100,000,000 PALM x 15%) x 74 = 750,000 PALM each participant
Tier2 Bonus Reward Calculation: (100,000,000 PALM x 10%) x 100 = 333,333.33 PALM each participant
Tier3 Bonus Reward Calculation: (100,000,000 PALM x 5%) x 201 = 55,555.56 PALM each participant
(750,000×74)+(333,333.33×100)+(55,555.556×201)=100,000,000 PALM
The categories have been designed such that anyone can participate and get a Bonus Reward!
If you already delegate to the pools and add more liquidity on your wallet later on, we will calculate everything according to the data that we’ll have. For example: If you stake 500 ADA on the first epoch of the ISPO (Epoch 454) and you add 1000 ADA more to your wallet on the the 6th epoch (Epoch 460) we will be calculating everything accordingly. The 500 ADA portion will be calculated for Tier1 rewards and the rest 1000 ADA will be calculated for Tier3 rewards.
