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LobsterDAO Karma Drop FAQ

CoinList is collaborating with LobsterDAO to airdrop Karma to high value-add LobsterDAO members (based on engagement in the LobsterDAO Telegram groups and dictated by the LobsterDAO team) and to give them one month of free trading on CoinList Pro. 


CoinList's mission is to accelerate crypto advancement and adoption. We help the best crypto projects (ex. Filecoin, Solana, Flow, etc.) throughout their life cycles and give early adopters access to quality crypto assets before mainstream exchanges. 


CoinList Karma is a reflection of users’ contributions to token networks on CoinList. The greater a user’s contribution through value-add activities (ex. staking, governance, etc.), the higher their Karma. Eligible users with high levels of Karma can earn access to the Priority Queue on CoinList, an invite-only queue for token sales that is significantly shorter than the main token sale queue.


Terms of the drop:

  • Lobster NFT holders from the block 13825000 Snapshot will receive Karma in their CoinList accounts that will decay after two months. The exact amount and dates will be disclosed on or around January 2022.
  • Eligible users who do not reside in CoinList’s unsupported jurisdictions will receive one month of free trading on CoinList Pro, CoinList’s pro exchange. The exact dates will be disclosed on or around January 2022.


To receive the benefits, eligible users need to: 

  • Complete CoinList KYC at https://coinlist.co/lobsterdao-karma before 00:00 UTC, January 1, 2022.
  • Link your Ethereum address holding the Lobster NFT with your CoinList account by submitting your wallet address and signing a provided message at the end of the KYC flow.


Please note:

  • Only Lobster NFT holders from the block 13825000 Snapshot are eligible for this drop 
  • If you are eligible for the Karma airdrop and have an existing CoinList account, please use your existing account and do not create a new account.
  • Rest assured, CoinList takes security seriously and will not expose your Ethereum address nor your KYC information.
  • Users can earn more Karma by doing these activities.




Other Karma Questions

What is the free crypto withdrawal credit?

A crypto withdrawal credit allows a user to make one (1) free crypto withdrawal (up to $100). A withdrawal is defined as removing assets from CoinList. A user can use the credit on any crypto supported on CoinList. The credit covers the cost of network fees. The withdrawal credit expires at the end of the calendar month that it was awarded.  The free crypto withdrawal is limited to users with a minimum of 2,000 Karma at the beginning of each month.


What is CoinList Karma?

Karma is a point system that recognizes your contribution to token networks on CoinList through value-add activities (such as staking, lending, voting on governance proposals, and trading). The greater your contribution to token networks on CoinList, the more Karma you earn. At this time, Karma helps you qualify for the Priority Queue for token sales. The Priority Queue is an invite-only queue for token sales that is significantly shorter than the main token sale queue and runs in parallel to the main queue. We’ll be adding more Karma rewards in the coming months.

When will Karma appear on my account?

Starter Karma


Staking Karma

  • Auto staked assets (Algorand, Celo, Mina, VEGA) Karma will be rewarded once your first staking rewards are distributed to your account.
  • Locked staked assets (Nucypher, Casper, Flow, Rose) Karma will be awarded once the upcoming staking period begins.

Governance Voting Karma will be awarded within a week after the voting period closes. 


Lending Karma will be awarded when funds are locked in the program.


Trading Karma via CoinList.co, CoinList Pro, CoinList Mobile, & WBTC Conversions will appear on your account within a few hours, up to a day.


Karma for participating in (1) active validator or miner programs on CoinList, (2) submitting projects to active CoinList hackathons, and (3) participating in experimental issuer offerings will be awarded at the end of the offering / program. 


Weekly Karma


Staking

  • Locked staking assets (Nucypher, Casper, Flow, Rose) Karma will be awarded on the Monday after the upcoming staking period begins. 

Trading

  • Trading Karma via CoinList.co, CoinList Pro, and CoinList Mobile will appear on your account on Monday for the previous weeks’ trading activity.


Starter Karma does not expire. Weekly Karma expires after 18-weeks on a rolling basis.


How can I check my Karma score?

Logged-in CoinList users can find their score on the Karma page, linked from your dashboard.


View my Karma »

What can I do with Karma?

We plan to introduce a variety of rewards soon, but for now users can track their status on the Karma page, and eligible users with a high level of Karma can earn access to the Priority Queue on CoinList.

What is the Priority Queue?

The Priority Queue is an invite-only queue for token sales that is significantly shorter than the main token sale queue (in the low thousands compared to hundreds of thousands based on recent sales) and runs in parallel to the main queue. While Priority Queue invitees have a higher chance of securing an allocation, an allocation is not guaranteed. 


How do I earn Karma?

There are a number of ways to build your Karma score, including but not limited to the following:

  • Stake on CoinList
  • Lend on CoinList
  • Vote on governance proposals on CoinList
  • Participate in experimental issuer offerings like the NuCypher WorkLock, the Oasis (not currently open for participation)
  • Participate in active validator or miner program on CoinList (not currently open for participation)
  • Submit projects to CoinList hackathons (not currently open for submission)
  • Trade on CoinList


How is Karma awarded?

CoinList Karma consists of two types of Karma awarded: (1) “starters” earned one-time and (2) “weekly” earned through weekly activities on CoinList. Our Karma program is evolving and as it does we will update this FAQ. CoinList may change the terms of the Karma Rewards program at any time.


CoinList Starter Karma is awarded once per milestone activity on the platform across staking, trading, lending, participation in experimental offerings (not currently open for participation), participation in validator/mining programs (not currently open for submissions), submitting a project to a CoinList hackathon (not currently open for submissions). Additionally, we award early adopters by awarding starter Karma to users who participated in our earliest sales and our most engaged users from the beginning (including partners and founders). 


Starter Karma categories and milestones: 

  • Staking features 3 milestone activities.
  • Governance features 1 milestone activity.
  • Lending and experimental issuer offerings like the NuCypher WorkLock, the Oasis ROSE Garden, or EGL Genesis earn 1 milestone per activity.
  • Trading features 4 milestone activities.


Staking:

  • Stake 1-2 assets.
  • Stake 3 or more assets.
  • Stake 1 or more assets over a 50-day period.

Governance

  • Participate in a governance vote on CoinList (limited to EGL Genesis participants).

Lending

  • Participate in an open lending program on CoinList.

Experimental Offerings

  • Participate in an experimental offering (currently not open for participation).

Validator Program

  • Participate in a validator/mining program (currently not open for participation).

Hackathon

  • Submit a project to an active hackathon program (currently not open for submission).

Trading:

  • Complete over 5 trades on Coinlist.co.
  • Complete over 5 trades on CoinList Mobile.
  • Complete over 5 WBTC conversions.
  • Complete a CoinList Pro trade. 


Weekly Karma:


Weekly Karma is awarded through weekly activities, currently limited to locked asset staking and trading on CoinList. At the moment, you can earn weekly Karma via trading on CoinList and staking locked assets (Nucypher, Casper, Flow, Rose). This is subject to change.


Staking Weekly Karma:

1.2% of locked staked assets (Nucypher, Casper, Flow, Rose) are converted to weekly Karma. Weekly Karma is issued once a week on Monday and expires after 18-weeks. Staking Karma begins to accrue once assets are locked. Users can earn up to 60 Karma per week for stake-locked assets.


Trading Weekly Karma:

1% of trade volume is converted to weekly Karma. Karma is issued once a week on Monday and expires after 18-weeks. Users can earn up to 50 Karma per week for weekly trades on CoinList.



Weekly Karma examples:


User 1 trades $1,000 in volume and $500 is lock-staked in Flow over a one-week period. The following week, the user will be awarded 10 Karma for trading and 6 Karma for staking, earning 16 total weekly Karma. 


User 2 lock-staked $6,000 of Flow over a week-period. The following week, User 2 is awarded 60 points due to the weekly cap.


Note, we additionally award Karma to folks who show exemplary community behavior based on our discretion. 



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