What is the CIP?

DeFiChain Promo pursues the following two main objectives:
1. Offering high-quality content for promoting DeFiChain
2. Incentivizing users for active participation on social media

Nobody likes to work for free and in our view everybody who puts effort into promoting DeFiChain should be rewarded for doing so. Therefore, the CIP has been created which rewards Twitter activity with promo points. These points can be converted into DFI tokens after every CIP round.

In order to track and analyse DeFiChain related Twitter activity, a complex standalone algorithm was developed.

In short: DeFiChain Promo pays you for promoting DeFiChain on Twitter with the CIP.

Why is it necessary to sign up with my Twitter account?

You must sign up with your Twitter account in order to grant permission to read out your Twitter activity via the algorithm (read access only).

I don't want you to access my Twitter account!

We understand your doubts and agree that privacy is super important as well. Without access though, we would not be able analyse your activity on Twitter.

We guarantee that we neither gather, nor save any private information – only publicly available data will be processed. Additionally, since we only request read access, it is not possible to make any interactions on your behalf.

If you still have doubts and don't want to sign up with your Twitter account, you can't participate in the CIP.

What are promo points?

Although we pay out DFI tokens in the end, the CIP doesn't reward you with them in the first step.

By being active on Twitter and on our website, you rather earn so-called promo points. Based on the amount of promo points all users have accumulated and the amount of DFI in the community incentive wallet, your DFI token share will be calculated after every round. Finally, you can request the payout of the earned DFI tokens.

How much DFI can I earn by using your service?

Unfortunately, there is no general answer to this question since it depends on the number of participants and a couple of unforeseeable factors. The following example should clarify how the process works though:

Assume that we pay out 200 DFI bi-weekly. If you were the only participant and you earned at least 1 point, your share would be 100% - 200 DFI.

Now let's assume that a second user comes into play who also earns 1 point. In total, 2 points are earned. As a result, both participants would have a 50% share each – 100 DFI.

When you earned 10 promo points during the whole round and your competitor earned 5, your share would be 66% (10 out of 15) – 132 DFI. Your competitor's share would be 34% - 78 DFI.

How does the algorithm and promo point distribution work?

The revelation or explanation of the algorithm may result in people trying to break through the boundaries. To prevent fraud and cheating, the algorithm and the promo point distribution will be kept secret.

Will people with more follower and broader reach earn more?

No. The algorithm is not designed in a way that participants with more follower/broader reach earn more promo points. It's all about posting high-quality content, not about "who reaches the most, gets the most".

Why are promo points limited per day/week?

The standalone algorithm is complex and as of now, it has only been tested by a handful of people. Most likely, code with such a level of complexity is not 100% bug-free.

To make it impossible for people who find a potential "infinity points-bug" exploiting it, we implemented the promo points hard cap – some kind of a security measure.

In the future, the limitation may be set to a higher number or might be removed entirely.

How can you afford giving away DFI?

The CIP is funded by a Community Fund Proposal (CFP). Therefore, it's not about giving away our own DFI. It's more about the community allowing us to use a certain amount for this service.

Which DFI address holds the coins and how can I make sure that my earned rewards have been paid out?

The coins are held on our community incentive wallet:
da7herkZ9xcvCiRTiFyvny78mZgfrxqtAj

After each CIP round, a spreadsheet with all wallet addresses participated, their respective share and the amount of distributed DFI will be published. Each transaction can be verified with the defichain explorer.

When and where can I request the payout of my earned DFI?

After every CIP round, the earned promo points will be converted into DFI tokens. Once you reached the minimum payout amount, the withdrawal button can be clicked in your profile.

After the request, the DFI tokens will be sent to the provided wallet address within 72 hours. The current state can be checked in the payout history.

Does a minimum withdrawal amount exist?

Yes. The current minimum withdrawal amount is 3 DFI.
(Subject to change without notice)

Sounds awesome! How can I start?

First of all, you have to fill in the CIP registration form here. After having checked your answers, the DeFiChain Promo team will let you know as soon as possible via e-mail whether you are allowed to participate or not. Please make sure that you fill in all the questions correctly.

When you are allowed to participate, simply click here or use the "sign in with twitter" button and grant us read access to your twitter account. After having signed in, you will be redirected to your profile automatically. Now you're basically done! Do what you usually do and don't forget to press the "update now" button in your profile to synchronize/update your promo points regularly.

Are there rules which must be complied with?

There exists one main rule. Please make sure, you always comply it. Otherwise, the DeFiChain Promo team reserves the right to exclude CIP participants for an indefinite period of time:

1. Do not spam:
- Don't retweet your own tweet unless you add new information (quote tweet).
- Don't act brainless. Think about if the tweet you're about to publish makes sense in the present context.
- Don't promote DeFiChain in a tweet which already is about DeFiChain.
- Don't abuse the quickreply system. There will be cases in which you won't find suitable answers. In that case, simply move on to the next tweet.
- Don't post our template tweets multiple times within a short period.
- Don't answer the same tweet with promotion tweets over and over again. Once you answered a tweet, there is no need to answer it with yet another ready-to-go tweet.

Additionally, preparing own content is very welcomed – try to do it as often as possible. Last but not least, the daily limit should be seen as a limit rather than a goal. There is need to reach the maximal amount of points daily/weekly

Is there anything to be aware of with the Twitter profile?

Participation is only allowed if you have a Twitter profile with a display picture (preferably of yourself and not the DeFiChain standard logo) and a valid biography.

Why do I have to sign up via the registration form and why do I have to provide personal information such as first/last name and the land of residence?

One of our main goals is to promote DeFiChain on social media. In order to avoid bad publicity and to handle the problem of spam we want to be sure that people, instead of bots, are promoting. Additionally, the registration form makes sure that each and every participant has basic knowledge about DeFiChain.

Why do you need my DeFiChain Wallet address?

The wallet address is needed for processing the periodic payouts.

Why do I have to provide an e-mail address?

The e-mail address is necessary for external communication - it’s our man channel of communication with participants.