Kojopapo:
ur project aims to:
Reward Engagement : Provide a unique token, SATs (BitTorrent), to reward users for their participation and engagement across various platforms. This encourages loyal fans and followers to stay connected and engaged with content creators and each other.
Educate on Blockchain : Introduce and educate users about blockchain technology and cryptocurrencies in a practical, non-financial context. By rewarding engagement with tokens, users can learn about the functionality and benefits of blockchain in a hands-on way.
Promote Peer-to-Peer Interaction : Foster a decentralized community where users can interact directly with each other, tipping or rewarding peers for various activities and engagements, without financial transactions being the primary focus.
Increase Blockchain Adoption : Encourage the use of blockchain technology in everyday activities and demonstrate its utility beyond financial investments. By integrating with platforms like Staqe.app and leveraging decentralized exchanges, the project aims to make blockchain more accessible and practical for everyday users.
Establish Partnerships : Form strategic partnerships with blockchain educational projects, decentralized exchanges, and social media groups to expand the reach and impact of the SATs (BitTorrent) token, facilitating broader adoption and integration into various platforms.
Ensure Security and Transparency : Maintain high standards of security and transparency through regular audits, compliance measures, and user education on safe practices within the blockchain ecosystem.
Create Multi-Chain Functionality : Explore and implement multi-chain functionality to allow users to utilize SATs tokens across different blockchain networks, increasing the tokenâs utility and accessibility.
Project Value :
1. Decentralization and Trustless Environment
Benefit:
Security and Transparency: Blockchainâs decentralized nature ensures that no single entity has control over the data, enhancing security and transparency. Transactions and interactions can be independently verified by all participants.
Trustless Transactions: Users can engage in transactions without needing to trust a central authority, reducing the risk of fraud and manipulation.
Relevance:
The decentralized nature aligns perfectly with the peer-to-peer rewards system of SATs (BitTorrent), providing a trustworthy and transparent environment for rewarding users.
2. Immutable and Verifiable Records
Benefit:
Permanent Record Keeping: All transactions and interactions are recorded on the blockchain, creating an immutable ledger that ensures data integrity and transparency.
Verifiability: Users can independently verify the authenticity and history of their transactions, enhancing trust within the community.
Relevance:
This feature is crucial for ensuring that reward distributions and staking records are transparent and cannot be tampered with, fostering trust among users.
3. Lower Transaction Costs
Benefit:
Reduced Fees: Blockchain technology, especially when built on platforms with low transaction costs like BitTorrent, ensures that users can make transactions at a fraction of the cost compared to traditional financial systems.
Microtransactions: Enables the viability of small transactions, making it feasible to reward users for minor engagements and interactions.
Relevance:
This aligns with the projectâs goal of providing cost-effective and frequent rewards to users, making participation more attractive and accessible.
4. Enhanced Security
Benefit:
Cryptographic Security: Blockchain transactions are secured using cryptographic techniques, making it extremely difficult for malicious actors to alter data or steal funds.
Smart Contract Security: Smart contracts automate processes securely, reducing the risk of human error and fraud.
Relevance:
The integration of secure smart contracts for staking and reward distribution ensures that usersâ assets and rewards are safe, promoting confidence in the system.
5. Global Accessibility
Benefit:
Borderless Transactions: Blockchain allows for seamless transactions across borders without the need for intermediaries, enabling global participation.
Inclusivity: Users from different parts of the world can join and benefit from the SATs (BitTorrent) ecosystem without geographical limitations.
Relevance:
This is critical for expanding the user base and engaging a global audience, ensuring that anyone with internet access can participate and earn rewards.
6. Programmable Money and Smart Contracts
Benefit:
Automation: Smart contracts enable automated and conditional transactions, ensuring that rewards and staking mechanisms operate efficiently and without manual intervention.
Customization: They allow for the creation of complex reward structures and staking mechanisms tailored to the communityâs needs.
Relevance:
The use of smart contracts simplifies the reward distribution process and ensures fairness and accuracy, enhancing user experience and trust.
7. Enhanced Community Engagement
Benefit:
Tokenization of Rewards: By tokenizing rewards, users are more likely to engage with the ecosystem, as they can see tangible benefits from their participation.
Governance Participation: Token holders can participate in governance, influencing the projectâs direction and fostering a sense of community ownership.
Relevance:
Token-based rewards encourage more active participation and engagement, aligning with the projectâs mission to value and appreciate its user base.
8. Interoperability and Integration Potential
Benefit:
Multi-Chain Capabilities: Blockchain technology can facilitate the interoperability of SATs (BitTorrent) across multiple blockchain platforms, enhancing its utility and reach.
Integration with DeFi: The project can integrate with decentralized finance (DeFi) platforms, providing additional use cases and liquidity options for the token.
Relevance:
Interoperability and integration with DeFi platforms can increase the tokenâs utility, making it more attractive to users and potential partners, and enhancing its overall value within the blockchain ecosystem.
Project Info :
Presentation.pdf (69.7 KB)
SATs (BitTorrent) Litepaper v1.pdf (265.6 KB)
Project Website :
SATS (BitTorrent) â Connecting Communities, One Sats Token at a Time
Project Test Instructions :
Test Out the SATs (BitTorrent) Project and Offer Rewards
Prerequisites:
Crypto Wallet : Ensure you have an EVM-compatible wallet (e.g., MetaMask, Trust Wallet) set up and configured to interact with the BitTorrent Chain (BTTC).
WBTT Tokens : Ensure you have Wrapped BitTorrent (WBTT) tokens for staking.
Instructions:
1. Setting Up Your Wallet for BTTC
MetaMask Configuration :
Open MetaMask.
Click on the network dropdown (e.g., âEthereum Mainnetâ) at the top of the wallet.
Select âCustom RPCâ.
Enter the following details:
Network Name : BitTorrent Chain
New RPC URL : https://rpc.bittorrentchain.io
Chain ID : 199
Currency Symbol : BTT
Block Explorer URL : https://scan.bittorrentchain.io
Click âSaveâ.
Add SATs Token to MetaMask :
Go to MetaMask and click on âAssetsâ.
Scroll down and click âImport tokensâ.
Enter the SATs token contract address:
Contract Address : 0x0f5A428dc4f225941efbf29d7c957434e35B3b11
Add the token.
2. Staking WBTT to Earn SATs Tokens
Visit the Staqe App :
Go to the Staqe App website: https://staqe.app/pool?id=8&chain=199
Connect Your Wallet :
Click âConnect Walletâ and select MetaMask (or another compatible wallet).
Follow the prompts to connect your wallet.
Stake WBTT :
Navigate to the staking pool section.
Select the pool for staking WBTT to earn SATs.
Enter the amount of WBTT you wish to stake.
Confirm the transaction in your wallet. You will need to pay gas fees.
Monitor Staking Rewards :
Once staked, you can monitor your staking rewards on the dashboard.
Rewards will be distributed daily. 13h UTC +2
3. Claiming Rewards
Claim SATs Tokens :
Go to the staking dashboard.
Click âClaim Rewardsâ to collect your earned SATs tokens.
Confirm the transaction in your wallet.
4. Offering Rewards on the Tron Forum
Join the Tron Forum :
Go to the Tron Forum: https://forum.tron.org
Create an account or log in if you already have one.
Create a Reward Announcement :
Create a new post or thread announcing the reward.
Include the following details:
Title : âEarn SATs Tokens for Participationâ
Content : Explain that each user can earn up to 10,000 SATs for engaging with the project.
Reward Conditions : Specify any conditions, such as participating in a discussion or completing a specific task.
Collect User Wallet Addresses :
Instruct users to reply to the post with their wallet address.
Distribute Rewards :
Write @SATs_BitTorrent with your wallet
.
send wallet public key addresses.
Up to 10,000 SATs to each user who participates.
Confirm transactions on the BitTorrent Chain explorer: https://scan.bittorrentchain.io
Project Details :
SATs (BitTorrent) Project Overview
What is SATs (BitTorrent)?
SATs (BitTorrent) is a reward token designed to appreciate and engage users across decentralized platforms and social media. The token is free to earn and can be used for various activities like tipping, betting on games, and more.
Mission
To introduce cryptocurrency as a tool for peer-to-peer interactions and social engagement, not just for financial investment. We aim to educate users about blockchain and reward them for their participation.
Key Features
Free to Earn : Users can earn tokens by engaging with content or staking WBTT (Wrapped BitTorrent Tokens).
Daily Rewards : Tokens are distributed daily to stakers.
Education : Helps users learn about cryptocurrency and blockchain.
Engagement : Keeps fans and followers engaged with reward incentives.
How will the project help users understand blockchain technology? Are there any resources or partnerships for this?
1 Like
By creating tutorials that explain the basic uses of crypto outside the financial space, and using reference sites like Binance Academy, I aim to reach people who mostly view crypto as similar to forex.
By earning the token, they can use it as they wish without risking financial loss, but they may gain in the future if there are enough funds for a buyback and increased activity from new users.
and they can use it for their own activties should they wish to do so.
1 Like
Kojopapo:
By creating tutorials that explain the basic uses of crypto outside the financial space, and using reference sites like Binance Academy, I aim to reach people who mostly view crypto as similar to forex.
By earning the token, they can use it as they wish without risking financial loss, but they may gain in the future if there are enough funds for a buyback and increased activity from new users.
and they can use it for their own activties should they wish to do so.
Iâll make easy tutorials on using crypto for fun. Users can earn tokens risk-free and use them however they want, with a chance to gain more later.
2 Likes
@Kojopapo welcome to season 7.
Thanks for providing all the necessary information, smart idea. You may want to work on front-end a bit more to attract users more. Keep building
2 Likes
sw8st
October 21, 2024, 8:18pm
107
nice approach. good luck with that @Kojopapo
1 Like
Welcome to hackathon S7! SATs (BitTorrent) is a great project. It rewards users with tokens for their participation and helps them learn about blockchain. The project focuses on letting people connect directly without needing a central authority. Staking is simple with the Staqe app, and the project makes blockchain useful for daily tasks, not just money. Their plan to work with other platforms and add multi-chain features will help it grow. Excited to see what comes next!
3 Likes
The is a staking dapp that pay rewards automatically, itâs deployed on vercel.
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Amazing project! I just liked itâyour hard work shows. If youâve got a moment, check out ours and support us too. Voting starts tomorrow, letâs do this!
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Amazing work @Kojopapo !
I really love your implication into the community and your early submission that had an amazing evolution!
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Thank You @ArtQuest @constantinpricope201
I think we need to build and grow the community, also be able to accommodate new members in the near future.
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Still solo I see. Appreciation for being beginner friendly, the blockchain learning curve can be high.
I think you can further promote your SATs token among newbies by adding more social media platforms under your belt, because in the end you want to accomodate these new users.
So educating them across multiple social media platforms would speed up this process. Whats your opinion?
btw congrats with qualifying
1 Like
Yes, I agree but its easy-to-use tiktok for such as people spend more time on it. Iâve made some video and posted then on tiktok, Iâm going to do more specific for newbies and while promoting SATs token at the same time.
-YouTube
-Instagram
-Twitter X
-Tiktok
-Telegram ( thinking of making it open to the community ) with a bot that can be used for those who a rude to others.
-Bittorrent forum
2 Likes
Also hoping to get some people to help in there near future.
Understandable, best of luck
1 Like
Best of luck for season 7
Can you share your development plan after the voting ?
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Could you elaborate on development plans beyond the staking dApp & idle game?
Yes, Building on the Tron blockchain seems like the next step, though we encountered a naming restriction since Tron doesnât allow tokens to be named after their own tokens.
Iâve already created a token on BNB chain so the cross chain will work from BTTC, Tron And BNB, Ether was put of the plan but someone said something about the fees.
Also open to suggestions, as this is a community-driven project; ultimately, all rewards will go back to the community, mainly earned on BTTC.
@CelestialWeb Thanks
1 Like