Pell Point Campaign: Epochs 1

Intro

As of May 19th, Pell Network’s Point campaign will be live, marking Pell Network’s official launch to the public. Points will represent and track how much a user has contributed to Pell Network’s ecosystem over the course of the campaign.

Points Campaign Structure

The campaign will be split across multiple short duration seasons, or “Epochs”, each rewarding different activities involving Pell Network and different communities Pell Network will be working closely with to integrate which will receive boosted points during each epoch.

Duration:

We do not intend to run a long drawn-out points campaign . We are committed to finalizing the duration of the points campaign in 4 months time, or when TVL supply reaches $1bn US Dollars, whichever happens the soonest.

Incentives:

The first phase will focus on the volume of locks in Pell staking pools and community buildings.

The remaining epochs will be centered on actions like building AVS ecosystem services, incentivizing node operators, and encouraging more Bitcoin L2 ecosystems to use AVS services and more.

The points per Epoch will decay through time, or in other words, you will receive less rewards as the program takes place and being early will result in the highest number of points awarded.

By launching a point program, we hope to encourage active participation in areas of the ecosystem which matter most to Pell Network, as well as aligning with the users who will contribute to Pell Network’s long-term success.

Notice:

Note that the point campaign is explicitly geared towards long term participants and users of the system.

Do not participate in the campaign if your intention is to farm and dump a quick airdrop. You will be disappointed. This is not psyops.

We suggest you do not take part if your time horizon and attention span is the length of a month and if you have no desire to use and participate in the ecosystem over a longer duration.

In addition, participation is unfortunately restricted for users in certain jurisdictions, including the United States. The relevant sections of the Pell Network web application will be blocked for users in such jurisdictions, including our dApp UI.

To Recap:

Pell is a restaking protocol that fills in the void in trust and security in the fledgling BTC ecosystem, especially BTC L2 networks. Simultaneously, it expands the single yield profile for BTC and its LSD via a decentralized trust marketplace.

Cooldowns When locking your tokens to receive points, the following cooldown will apply for each action. We intend to reduce these cooldown periods through time, but will not increase the cooldown period at any point in the points campaign. Users will still earn shards during the cooldown periods.

TVL Campaign Pools:

Boost resources: Bitlayer Mining Gala, Particle Network, Project partners such as Lorenzo and Avalon

Normal Points

Basic Tasks

1. Follow on Twitter to earn 100 points.
2. Join Discord and complete identity verification to earn 150 points.
3. Join the Telegram announcement channel to earn 50 points.

Advanced Tasks

1. The first deposit of over 0.001 BTC earns an additional 50 points daily for 7 days. Withdrawing during this period interrupts the reward (manual claiming, valid even after expiration).
2. Staking over 0.01 BTC for 14 consecutive days earns 300 points.

Bitlayer Mining Gala（from May 27 to June 10）

1. The first 2000 participants who stake over 0.001 BTC and keep it locked for 7 days will receive 500 points. (a. Withdrawals that reduce the balance below 0.001 BTC during the lock-in period will disqualify the user. b. Users within the first 2000 but not meeting the initial deposit requirement of 0.001 BTC are ineligible for the 500 points. The 2001st eligible user will also not receive the points.)
2. Users who stake through Bitlayer during the event will automatically receive an instantly activated 1.25x 14-day points card, applicable to the full amount.
3. After the event, 1000 participating addresses will be randomly selected to receive a 1.5x permanent points card (applicable to amounts below 1 BTC).
4. After the event, 10 addresses will be randomly selected, each receiving 100 USDT.

Particle reward

1. Particle is responsible for introducing platform users to participate in Normal Points Pool activities.
2. Pell will allocate 1% token to incentivize all the Particle users to participate in any activities earning Normal Points.

Project partners

For users of Pell’s ecosystem partners, we have a special incentive plan during the event:

1. Staking Lorenzo’s stBTC earns 1.5x points.
2. Staking BTC-related assets through Avalon earns 1.5x points.
3. Other partners will be announced later.

Pell will coordinate with partners to maximize user benefits. For example, Avalon users won’t lose Avalon points when staking assets in Pell.

Referrals

Users can also accumulate points through referrals for the duration of the point campaign. Any user who refers a friend will receive additional points. Here are the rules:

1. If a friend completes all basic tasks, the inviter earns 100 points.
2. If a friend makes a first deposit over 0.001 BTC, the inviter earns 200 points.
3. If a friend deposits over 0.01 BTC for 14 days, the inviter earns 500 points.
4. For every 5 friends completing basic tasks, the inviter earns a 5-day 2x points card and 200 points.
5. For every 5 friends making a first deposit over 0.001 BTC, the inviter earns a 14-day 2x points card and 400 points.

For more details, please refer to: https://app.pell.network/points

Steps for Epoch 1:

1. Go to Pell Network’s landing page linked below (https://app.pell.network/points)
2. Type in referral code
3. Follow our Twitter @Pell_Network
4. Tweet out participation in Epoch 1 template
5. Connect wallet
6. Go to [Restake] tab and stake assets
7. Receive points