Unveiled Testnet Results and Future Planning by Incentiv, Along with Details on Community Rewards
Incentiv, a next-generation EVM-compatible Layer 1 blockchain, is making waves with its unique contribution-driven economic model. This model rewards all participants based on their real, verifiable on-chain activity, rather than capital investment or fixed block rewards.
At the heart of Incentiv's model is the Incentiv+ engine, a unified reward system that collects a portion of transaction value and fees from every transaction into a communal Unified Reward Pool. Rewards from this pool are proportionally distributed to network contributors based on their contribution score, aligning payouts with true economic throughput rather than token inflation or fixed issuance.
To jumpstart network activity, 26% of the total $CENT token supply has been allocated to a Community Rewards pool, providing sizable early incentives even before large transaction volumes generate sufficient fees. A Short-Term Growth Fund supplements the Community Rewards pool to support key strategic initiatives and encourage network growth during early phases.
The model is designed to transition over time from subsidy-driven rewards to a fully self-sustaining system funded by transaction fees, ensuring long-term economic sustainability without inflationary token issuance.
Testnet Results and Features
The Incentiv public testnet has gained popularity, with over 1.2 million wallets created and more than 1.7 billion $TCENT test tokens distributed via open faucets and completed challenges. This strong adoption and engagement demonstrate the testnet's success.
Incentiv supports advanced capabilities such as flexible gas payments options, Passkey wallets for enhanced security, bundled transactions, a native decentralized exchange (DEX), and an open SDK for seamless developer integration.
Passkey Wallets, a passwordless and device-integrated wallet system, are available to improve security and user experience. Users can group multiple actions into a single signed transaction through Bundled Transactions, making interactions more efficient.
Permissionless Participation and Transparent Tokenomics
Incentiv's design reflects a focus on permissionless participation, meaning that anyone can join and contribute to the network. The model is also designed to incentivize meaningful contribution, ensuring that users benefit more as they contribute more.
The economic model of Incentiv is transparent and inflation-free, with a fixed supply of 100 billion $CENT tokens minted at genesis with no new issuance or burning. Compensation for participation on Incentiv is proportionally allocated to all users, regardless of role. The payouts on Incentiv are linked to economic throughput, differing from traditional fixed block rewards.
In summary, Incentiv's model is innovative in rewarding all network participants fairly based on activity, not capital, using the Incentiv+ system and contribution scores, backed by a substantial community rewards reserve to ensure vibrant early growth transitioning into sustainable, fee-funded operations.
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