Reward allocation system
Like2Earn participants are eligible to claim tokens as rewards. Currently, we will use ETH as the token incentive. Later, we will issue our own tokens as an important part of the Like2Earn system.
Reward allocations are conducted in two ways.
- Event rewards
- Channel rewards
The number of tokens allocated to every X-Hunter and X-Creator is based on the ‘social score’.
The social score is the quantified social value of a specific engagement on Twitter.
The engagements on Twitter can be divided into:
- Retweet & Quote retweet
The value of each Like is different. We give higher weight to early engagements. If a tweet is trending and have enough engagements, the contributions of later engagements are trivial. The unadjusted social score of the n^th engagement v_0(n) could be calculated as follows:
n is the sequence of your engagement.
r is the soft cap of social scores that an engagement can get. The magnitude of r also determines the decay rate of social scores. When the number of engagements exceeds 10^r, each engagement will receive few social scores.
Next, the unadjusted social score from an engagement is calculated to social scores v(n) based on the type of engagement, and the user identity.
k_engage is the coefficient of engagement. View, like, retweet and comment have different social values.
k_user is the coefficient of user. This coefficient is determined by the asset of the user’s wallet. The value will be determined case by case.
After calculating the social score of all engagements, we can then come up with the total social score of a content V.
k_creator is the coefficient of creator, which is smaller than 1.
v_i is the social score of the i^th engagement.
💡 Note: the number of engagements includes those from non-X-Hunter.
❗ Attention: The value of coefficients might be adjusted, and the current Like2Earn system only supports ‘Like’. We are developing our product to incorporate other engagements from Twitter and other platforms.
Reward allocation of an event
Events are bounty competitions with a fixed time period.
At the end of an event, X-Hunters and X-creators could share all bounty. The number of tokens that you claim is proportional to your social scores. The calculation is shown below.
Reward allocation of a channel
Channels do not have a fixed time period, which means X-Hunters and X-Creators can claim the tokens whenever they want. Since it is not possible to sum up future social scores for a perpetual channel. We use an exchange rate system instead to convert users’ social scores into tokens. The equation is shown below. The exchange rates are set by brands.
❗ In this case, if all the tokens under a channel are claimed, the newly acquired social scores can no longer be exchanged for token rewards.