For Adopters For Builders Resources LO G I N SIGN UP

Content on this page was provided by the Powerloom team

A Decentralized Network Serving Customized Insights and Information on Web3 Data

Calling all Community Members:

Powerloom Incentivized Testnet

APPLY NOW

Program Overview

Powerloom Incentivized Testnet Details

Program Phase 2
 Participation Criteria Anyone - See Eligibility section

Unlimited - Top 4000 ranked users and 1000 randomly

Participation Limit
selected qualifying users will be eligible for rewards

Applications will be accepted on a rolling basis - first wave

Enrollment Deadline of participants will be onboarded on or around October
13th, 2023

Allocated Rewards for

1,000,000 tokens (0.1% of total token supply)
Phase 2

The overall testnet program is expected to last ~3 months.

Timeline Phase 2 is expected to last approximately 45-60 days.
Timeline is subject to change as the testnet progresses.

Powerloom is inviting individuals to be a pivotal part of their community by contributing to testing

the Powerloom Network's reliability, operations, performance and security.

Powerloom Network has allocated 0.4% of the network’s total token supply to reward
participants for their active efforts and contributions to the incentivized testnet — 25% of
which will be distributed in Phase 2 to eligible participants.
Phase 1 was dedicated to Snapshotters. After overwhelming response, Powerloom is now
inviting the broader community to Phase 2. Anyone who registered for Phase 1, whether they
were selected as a snapshotter or not, will be automatically enrolled for Phase 2.

Activities for Phase 2 include but are not limited to:

Engaging in a series of onchain activities on Powerloom's partner platform, Mercle.
Participating in quests such as bridging from Ethereum to Polygon zkEVM, swapping assets,
providing liquidity, etc. The data generated through these activities will contribute directly to
Powerloom's onchain data pipeline.
Regularly monitoring Powerloom's exclusive Discord channel to stay updated. You'll receive
announcements on forthcoming quests, helping you stay ahead in the game.
Joining Powerloom's weekly Zoom/Discord calls. These sessions offer walkthroughs on
quests and act as a platform for your feedback, questions, and interactions with the
Powerloom team.
 Eligibility
Users must meet the following criteria to be eligible for rewards and participation:
Certain jurisdictional limitations apply (i.e., users must be non-U.S./Canada and OFAC-
compliant), as outlined by Powerloom Network’s terms and conditions.
Participants will need to complete onchain transactions on blockchains.
A non-custodial Ethereum wallet (e.g., via Metamask) is required to connect and engage with
Powerloom Network.

Once your entry is approved by the Powerloom team, you will receive an email to start performing
the quests on their partner platform (Mercle).

Additionally, you will also receive a special link to KYC via Coinlist. While this step isn’t mandatory
for starting the quests, it is required to receive rewards, and Powerloom highly recommends
following the link to ensure eligibility before you qualify for the reward. Failure to complete KYC
may result in loss of rewards.

Timeline
Phase 2 is expected to last approximately 45 - 60 days beginning on or around October 13th,
2023. Participants will have 2 weeks to complete any remaining quests once Powerloom
announces the final quest and/or deadline. Powerloom may expand this timeline at their
discretion. Additional information on subsequent rewards will be made available as the testnet
progresses.
 Rewards
For Phase 2, Powerloom Network has designated 1,000,000 tokens (equating to 0.1% of the total
token supply) specifically for community participants. Rewards are to be distributed to a
maximum of 5,000 participants at mainnet launch as follows:

Reward Details

Rank Estimated Rewards / Person

1 - 100 300

101 - 500 250

501 - 1000 220

1001 - 2000 210

2001 - 4000 200

1000 randomly selected participants

150
meeting minimum XP threshold

Participants can accrue XP points by regularly completing the required onchain activities on
Ethereum L2s, notably Polygon zKEVM, to actively test the Powerloom Network's capabilities.
Each of these activities, from transactions to quests, will serve as vital data that is fed directly into
the Powerloom Network. This data will then be processed and showcased on the Powerloom
portfolio dashboard, offering a transparent view of all key transactions from the quests.

If a participant does not accrue a minimum XP points threshold, they will not be eligible for a
reward.
New quests will be added every week, providing further ways to accrue XP points and provide
data for the Powerloom Network. Once the final quests are added, participants will have 2 weeks
to complete quests. Powerloom will then verify all completed tasks before confirming the final list
of participants eligible for rewards.

Potential Examples for Earning XP points

Bridging ETH from Polygon POS to Polygon zkEVM

Providing Liquidity on Uniswap like AMM on Polygon zkEVM
Creating a multi-sig and executing transactions

Each quest rewards a fixed amount of XP points upon completion - repeated attempts for the
same quest will not award additional XP points. Some quests may require multiple onchain
transactions. While we are partnering with L2s such as zkEVM to significantly reduce gas costs,
participants will still need to pay for their own gas in ETH bridged to the respective chain.

Whenever an onchain transaction related to a quest is completed, Powerloom's partner (Mercle)

will automatically award XP points on their platform. Additionally, the Powerloom team is building a
portfolio dashboard to transparently show all key transactions. This will be fully powered by the
Powerloom Network and its snapshotters to showcase the power of the protocol. Powerloom
expects to release this product a few weeks after Phase 2 kicks off.
 Phase 1 Recap

Powerloom Incentivized Testnet Details

Program Phase 1

Participation Limit None - Top 100 ranked users were eligible for rewards

1,000,000 tokens (0.1% of current total token supply) and

Allocated Rewards for
soulbound medallion tokens granting additional incentives
Phase 1
and rewards

About Powerloom
Powerloom Network is a decentralized data protocol serving the ever-growing informational
needs of users of smart contract-based applications such as DeFi, Web3 games, and more. By
utilizing data compositions built upon smaller units of data validated by network participants ,
Powerloom provides a decentralized, accurate source of information on which rich data
applications like dashboards, bots, aggregators, insights trackers can be built.

Weaving together cross-chain data: Many existing data protocols lack composability -
meaning the data can only be accessed via chain-specific libraries and SDKs. This puts the
onus on developers and builders to navigate multiple datasets that are fundamentally different
in structure to synthesize useful information and insights. With flexible data models on
Powerloom, data sources across multiple smart contracts and even multiple chains can be
weaved together - allowing developers to focus less time getting the data and more time
working with it.
 Verified, auditable and transparent datasets: Regardless of the nesting of compositions
involved in aggregating data across snapshots, every requested datapoint is backed by
consensus with proofs securely anchored on respective L1 chains.

Community participation: A DAO-governed data marketplace allows curators and signalers

to contribute novel datasets through a bounty system. This is beneficial and necessary for
common goods protocols and their datasets. For example, a popular DEX like Uniswap v3 can
be indexed by bringing together a small group of passionate individuals, developers, and
decision makers familiar with the workings of the protocol at differing levels of abstraction.

Community Links

 Twitter

 Discord

 Telegram

 Docs

Jobs Help Privacy Terms Legal Status Blog Press Inquiries Media Kit 

This site is operated by Amalgamated Token Services Inc. and services are provided through its wholly-owned subsidiaries (altogether, “CoinList”). CoinList does not give investment advice,
endorse or make recommendations with respect to any assets or provide legal or tax advice. CoinList Markets LLC (NMLS #1785267) is a Money Services Business registered with the Financial
Crimes Enforcement Network and certain states as a money transmitter. Neither CoinList nor any of its officers, directors, agents, or employees makes any warranty, express or implied, of any
kind whatsoever related to the adequacy, accuracy, or completeness of any information on this site or the use of information on this site. This site contains external links to third-party content
(content hosted on sites unaffiliated with CoinList). As such, CoinList makes no representations or endorsements whatsoever regarding any third-party content/sites that may be accessible
directly or indirectly from this site. CoinList services are only directed toward the residents of jurisdictions where such services are permitted. Some services may be limited to residents of
certain jurisdictions, and disclosures may be required in specific jurisdictions, available here. Use of the site is subject to certain risks, including but not limited to those listed here. Assets
offered on the platform are not insured by the FDIC, SIPC, or any similar organization. Users must conduct their own due diligence of any digital asset. Participating in digital assets is highly risky
and may lead to total loss of funds. By using this site, you explicitly agree to our Terms of Service and Privacy Policy. CoinList and its employees, officers, directors, and affiliates may have
interests in assets listed on this site and may also participate in certain offerings using the site (where permitted).

* Not available in all jurisdictions. Past rewards are not an indicator of future results.

Copyright © 2023 CoinList