Alice Krasnitskaya
12 min
25 September
Distribution of CAV Tokens During Network Testing: Your Guide to Earning Rewards
Welcome to the enthralling universe of CoinAvatar, where the CAV token reigns supreme as the backbone of our vibrant ecosystem. As a fungible utility and governance token, the CAV token supports the ERC-20 standard and is deeply embedded in every transaction that takes place on the platform. This includes creating and fusing Non-Fungible Asset molds, participating in DAO voting (post-MVP), staking, and much more. With a maximum supply of 902,230,000 tokens, the utility of the CAV token is as vast as the ecosystem it powers.
The heart of this guide is the introduction of the CoinAvatar testnet, an invaluable phase in the CoinAvatar product life cycle that allows for meticulous testing and tweaking. In appreciation of your participation, we offer rewards in the form of CAV tokens.
This article will serve as your comprehensive guide to understanding the testnet, how you can earn CAV tokens and the processes involved. Ready?
What is a Testnet?
Testnets occupy a crucial role in the blockchain universe. They act as the training ground for developers and users, offering a sandbox environment where ideas can be executed, mistakes made, and lessons learned—all without the risk of losing real assets. Testnet is a temporary network with its own unique blocks and transactions, a mirror of the main network, specifically designed for testing purposes.
In the context of the CoinAvatar, the testnet serves as a preparatory stage. It's where the network undergoes rigorous checks and assessments to ensure that when it goes live, it is as bug-free and secure as possible. Your participation plays an essential part in this process. By interacting with the testnet, you help us uncover glitches, security vulnerabilities, and areas that may need improvement.
Importantly, testnets are not just for developers. They are a playground for users to understand the nuances of a network, try out its features, and provide valuable feedback that can help refine the project. And in the case of CoinAvatar, your engagement doesn't go unrewarded. The rewards you earn, in the form of CAV tokens, serve both as an incentive and a thank-you note for helping us in this critical developmental stage.
So, whether you're a developer looking to experiment with your latest code snippet or a potential user wanting to understand how to transact in CAV tokens, the testnet offers a risk-free environment for you to explore, learn, and contribute.
Steps to Get CAV Tokens
Earning rewards on the CoinAvatar testnet is simple and straightforward. Various activities allow you to contribute to the platform's development while accumulating CAV tokens. Below are the steps and activities for gaining these rewards.
Registration on CoinAvatar
*Please pay attention that each user gets from 0.005 to 0.008 test ETH and up to 3000 CAVtest tokens for 24 hours after registration by this link: https://coinavatar.com/testnet
At the same time, Bonus tokens pre-clouded for additional activities will be sent to your wallet after the Mainnet product. So do not mix them up!
Social Media Promotions and Subscriptions
- Discord: 250 CAV
- Twitter: 250 CAV
- Telegram: 250 CAV
- Commenting on the pinned post: Up to 450 CAV (max 3 comments x 150 CAV each)
- Retweet on Twitter: Up to 450 CAV (max 3 retweets x 150 CAV each)
Non-Fungible Asset Activities
How to display your test CAV tokens after you receive them:
Please note that you will be unable to see your coins right away after you receive them in your Metamask.
To check your test CAV token balance on your Metamask wallet, please follow the instruction:
- Step 1: Switch to the Sepolia network.
- Step 2: Navigate to the 'Tokens' tab in Metamask.
- Step 3: Click the 'Import tokens' button.
- Step 4: Add the contract address: 0xad6D34F23e03b84435e77a9fc6B8b4D063873d20.
For more info please check the official Metamsk support.
After you complete this action you will be able to see your test CAVs in your wallet and start minting your first Non-Fungible Asset mold.
Let Us Hear You!
We greatly value user feedback. To share your thoughts and suggestions, please send us an email at [email protected].
Your insights will help us improve the platform and are crucial for its success!
How and When Will Tokens Be Allocated?
After successful registration on the CoinAvatar platform, each user is allocated a total of 13,533 CAV tokens as a virtual balance. This allocation serves as a placeholder for your rewards. This balance will reflect your efforts as you participate in various tasks and activities on the platform or outside it.
You won't have to claim these tokens manually. CoinAvatar will automatically track your actions across different platforms—be it social media promotions, mold creation, or staking activities—and credit your reward tokens accordingly.
The Token Cliff
The term "token cliff" refers to the period you must wait before your earned tokens become available for withdrawal. It's designed to encourage long-term participation and commitment to the project.
The concept of "cliff" is inextricably linked to the concept of "vesting". This word means that an investor receives his assets in equal installments over a period of time. In the case of the bonus tokens on the CoinAvatar platform, users will have access to vesting after 3 months of the cliff. After that, vesting will occur over a period of 12 months.
The key takeaway here is patience. CoinAvatar ensures a transparent and fair distribution process, and all your earned tokens will be safely allocated to your account when the time comes.
FAQ
What is the CoinAvatar testnet?
The CoinAvatar testnet is a trial version of the CoinAvatar platform where users can participate in network testing. This allows users to experience platform features, earn rewards, and provide valuable feedback for improvements.
How do I register for the CoinAvatar testnet?
- Sign Up for Whitelist:
- Go to the CoinAvatar Whitelist Registration page.
- Fill out the registration form. Make sure to provide your correct email address.
- Click “JOIN THE WHITELIST TODAY!” - Confirmation Email:
- Check your email inbox. You’ll receive a confirmation email with further instructions. - Connect Metamask Wallet:
- Once you’ve received the email, visit the CoinAvatar website.
- A window will pop up, asking you to connect your Metamask wallet. - Choose Your Wallet:
- Select the Metamask wallet you want to link.
- Click “Next” and then “Confirm.” - Check Your Assets:
- After a successful connection, you can view your existing CoinAvatar assets (Molds and Coins) if you have any. - Start Testing:
- Shortly, you will receive test tokens for the testnet.
- You can now begin testing the CoinAvatar product. - Bonus Tokens:
- Additional bonus tokens for extra activities will be sent to your wallet after the Mainnet product launch.
Join the Whitelist
What are CAV tokens, and what can I do with them?
CAV tokens are the native tokens of the CoinAvatar ecosystem. They serve multiple purposes, including participating in DAO voting, staking, and executing transactions on the platform.
How many CAV tokens will I get for participating in the testnet?
CoinAvatar allocates a total of 13,533 CAV tokens per user for participating in the testnet. These tokens can be earned by completing specific tasks and activities on the platform or through social media promotion.
What tasks can I perform to earn more CAV tokens?
Various tasks are available, ranging from social media activities like retweeting and commenting to platform-specific tasks like creating molds and staking coins. Each task has its own CAV token reward.
How does the token cliff work?
A token cliff refers to the period during which you must wait before your earned tokens become available for withdrawal or other uses. Specific details about the token cliff period for the CoinAvatar testnet will be provided later.
When will the earned tokens be distributed to my wallet?
Tokens earned during the testnet phase will be distributed at a specific time, which will be announced later. Keep an eye out for updates on the official CoinAvatar channels.
Can I trade my CAV tokens during the testnet phase?
Trading of CAV tokens during the testnet phase is generally not recommended, as the main purpose of these tokens is for testing and providing feedback on the CoinAvatar platform.
How can I provide feedback or report issues I encounter?
Feedback and issue reports can be sent to [email protected]. Your input is invaluable for the continual improvement of the CoinAvatar platform.
Are there any risks involved in participating in the testnet?
While the testnet aims to simulate the live environment, it's still a testing phase. Always exercise caution and only commit assets that you are willing to risk.
Conclusion
As the CoinAvatar platform prepares to enhance and expand its services, your participation in the testnet is more crucial than ever. By participating, not only do you get firsthand experience of the platform's features, but you also earn valuable CAV tokens in the process. These tokens serve multiple functions within the ecosystem, ranging from DAO voting to staking and beyond.
Your feedback is vital for the platform's ongoing development. The more active you are in the testnet, the more you contribute to a robust, efficient, and user-friendly final product. With a total allocation of 13,533 CAV tokens per user up for grabs, now is the time to get involved.
So what are you waiting for? Join the CoinAvatar testnet, start completing tasks, and earn your share of the rewards.
Note from the CoinAvatar Team:
Thank you for your interest and active participation in CoinAvatar's network testing. We look forward to building a more robust and feature-rich platform with your valuable input. If you have further questions or need assistance, our official communities are always ready to assist you!
Your engagement is not just a pathway to rewards but a cornerstone for the improvement and success of the CoinAvatar ecosystem. 💗
Useful Links:
Onboarding Video - CoinAvatar Ultimate Guide: Start your Journey with Liquid Yield-Generating Non-Fungible Assets
Need help? We are at your service! Contact us - [email protected]
