With the launch of the Mintlayer Public Testnet, we’ve reached an important milestone in the development of the protocol. The goal of the testnet is to see how Mintlayer performs, to make improvements and fix bugs prior to the release of the mainnet.
In order to better simulate the network, we need node operators. And because operating a node takes resources and know-how, we want to reward those who get involved.
Enter the Mintlayer Incentivized Testnet.
What is the Mintlayer Incentivized Testnet?
The incentivized testnet is a reward campaign where you can earn ML rewards for supporting Mintlayer.
The testnet will use Testnet ML tokens (TML) which can be earned via our staking program. TML holders that participate in the testnet will earn real ML from a reward pool at the conclusion of the incentivized testnet. This reward will be based on the TML you earn as a blocksigner during the testnet.
We’re allocating 1,000,000 ML tokens in rewards for participants in the testnet.
How to earn TML?
Users that stake ML in the staking program will earn both ML and TML tokens. The more ML you stake, the quicker you’ll accumulate TML.
Once you have a minimum of 40,000 TML, you can run a node on the testnet and earn blocksigner rewards (disbursed in TML). The 40,000 TML requirement mirrors the mainnet’s requirement of 40,000 ML to run a node.
To make it easier to reach the node operation threshold, we’re offering a one-time deposit of 40,000 TML to users who stake a minimum balance of 5,000 ML on the dashboard. This deposit will be directly credited to your staking dashboard.
The main mechanism for earning TML is via operating a node and earning blocksigner rewards. Users that stake ML in larger amounts, earn TML at an accelerated rate, which can in turn be used to increase the pool size of their node and have a higher possibility of earning the blocksigner reward. In simple terms, the more TML your node has staked, the more blocksigner rewards you’ll earn.
It’s important to note that TML tokens have no utility outside of the testnet.
Incentivized Testnet Rewards
We’ve allocated a 1M ML token reward pool for testnet participation. This reward is in addition to the 600k ML allocated to the standard staking feature.
Rewards for the testnet will be disbursed to users at the end of the incentivized testnet, proportionate to their relative eligible stake of TML.
For example, if the amount of TML in your staking pool at the conclusion of the testnet is equivalent to 10% of the total relative eligible stake of TML, you’d earn 100,000 ML.
To give you a competitive edge in the incentivized testnet, we’re giving away 5,000 TML to users who register their interest in the next 48 hours.
To be eligible for the TML airdrop, complete this form with the same email address you’ve registered on the launch.mintlayer.org site. Once the staking feature is live, you’ll have an additional 5,000 TML in your account.
The incentivized testnet is a fantastic opportunity for users to learn and earn while supporting the Mintlayer ecosystem. We encourage you to participate and make the most of this opportunity.
Disclaimer: This Program Is Not an Investment
Participation in the Mintlayer incentivized testnet program is not to be considered an investment. The program is designed for testing and educational purposes, and participants should not enter with the expectation of earning profits. The ML tokens involved are utility tokens, designed to provide access to the Mintlayer network and services provided by RBB S.r.l., the company issuing the tokens. They are not financial instruments.
TML tokens have no monetary value and are solely for use in operating the Mintlayer testnet. Participants should be aware that the testnet could cease to operate at any time, resulting in the loss of all TML tokens.