CoinMarketCap users interested in learning more about Terra, and earning rewards in LUNA, can watch a short series of videos about Terra, take a quiz, and earn up to $10 in LUNA if they get all the answers correct.
In total, there is $180,000 USD worth of LUNA as rewards for successful quiz takers — this means that if there are 180,000 winners, each person gets $1 in LUNA, if there are 80,000 winners, each person gets $2, and so on.
Reminder: Just because $10 is the maximum amount of earnings, it does not mean that successful quiz takers get $10 — Earn rewards are calculated by the total number of successful participants divided by the $180,000 USD worth of LUNA.
This CoinMarketCap Earn campaign will take place for ten days, from Sept. 30 to Oct. 10. After the campaign is over, you can still watch educational videos about Terra, but you will no longer be eligible for rewards!
For quiz winners, LUNA will be distributed from Oct. 12 to Oct. 19. The exchange rate will be unilaterally defined by CoinMarketCap post-campaign.
In order to improve the token distribution process, we have decided to move the settlement process off-chain by partnering with Binance. We are in conversation with other exchanges as well for future campaigns. For this campaign, only Binance exchange addresses will be able to receive LUNA rewards.
On-chain settlement for such a large rewards pool has inherent blockchain security risks, and for ERC20 tokens, high gas fees on the Ethereum network make distributions economically unfeasible as well. For this reason, internal distribution by Binance allows the rewards to be settled off-chain at reasonable cost and without any major delays.
This Earn campaign will also last for ten days, while earlier campaigns lasted for eight!
I’m Ready to Learn and Earn!
Creating an account on CoinMarketCap is the necessary first step for participation in all CoinMarketCap Earn campaigns: you can sign up here.
Once you are signed in, check out CoinMarketCap Earn’s live campaigns page and select Terra to watch a series of educational videos. When the videos are done, review your notes! You can only take the quiz at the end once — so pay attention if you want a reward.
If you successfully answer all of the questions about Terra, you will be rewarded with up to $10 in LUNA at the end of the campaign period (remember: $180,000 USD divided by the number of successful quiz takers is the amount you receive!).
What Is Terra?
Terra is a network powered by a family of stablecoins — each pegged to the world’s major fiat currencies — that are all stabilized by Terra’s native token, LUNA. LUNA acts as both collateral for the entire Terra economy and as a staking token to secure Terra’s delegated proof-of-stake network. The protocol’s mission is to build an open financial structure that anybody can use, anywhere in the world.
What Is Earn?
CoinMarketCap Earn enables crypto enthusiasts to learn more about a particular cryptocurrency. Each user watches a series of educational videos about an asset, completes a quiz and is rewarded for their correct answers with crypto. With CoinMarketCap Earn, CMC can increase the breadth of knowledge about the crypto industry as part of its goal of showcasing the cryptocurrency revolution each step of the way.
A CoinMarketCap account is required for users to participate in the educational CoinMarketCAp Earn campaigns. Please remember that not all jurisdictions are supported at this time, so confirm that your jurisdiction is supported by checking out our FAQ section.
To check out “CoinMarketCap Earn” please visit: https://coinmarketcap.com/earn/
The post CMC Launches CoinMarketCap Earn Campaign With Terra Money appeared first on CoinMarketCap Blog.