We recently announced the rewards structure for the Gemini 3 incentivized testnet in our knowledge bomb Wen Subspace? blog post. Since then, some members of the community have suggested that the rules could be interpreted in a number of ways. This post aims to remove all ambiguity and provide clarity on exactly how they will work.
The relevant section of the blog post is:
Farming: Unlike previous incentivized test networks, Gemini III will follow a token issuance model for farming much closer to what we will deploy at mainnet launch. This means that instead of having a fixed allocation for Gemini III, we will have a continuous issuance of tokens at a constant rate of .1% of the total supply per week. The total allocation for farmers will vary based on the duration of Gemini III, which we expect to last for approximately 24 weeks, yielding approximately 2.4% of the total token supply.
Here is the additional information.
- There is a reward pool that has 0.1% of total token supply added to it each week the incentivized testnet is running.
- The incentivized testnet is expected to run for around 24 weeks. This would result in the reward pool containing 2.4% of total token supply. It may run for less time, it may run for more time.
- At the conclusion of the incentivized testnet, all wallets will have their block and vote rewards summed. The total reward pool will be split across all those wallets proportional to the total block/vote rewards earned during the incentivized phase.
- Note that this means that while TSSC is a good indication of progress on Gemini 3f, subsequent networks will have transfers enabled and as such will not be a definitive measure of success.
A worked example for those still not sure.
To apply these rules to a fictional example, let’s setup some assumptions:
- Let’s say the testnet runs for 10 weeks.
- Let’s also assume an average block time of 6 seconds across those weeks.
- Each of those blocks generates an average 1 block reward and 9 vote rewards. This means that ~100 rewards are issued per minute. Note that block and vote rewards are worth 0.1TSSC each.
In 10 weeks 1,008,000 rewards are generated. My farmer managed to win 10,080 of those. This is exactly 1% of them. As the testnet ran for 10 weeks, the reward pool is at 1% of total token supply. Therefore I would be entitled to 1% of that 1% or 0.01% of total token supply.
Remember that the incentivized testnet was started on Gemini 3f and will continue running on Gemini 3g and any subsequent network iterations the team releases until the end block is announced. We don’t know exactly how many network versions we will require to be feature complete and ready for Mainnet Beta and we continue to set expectations that things may break unexpectedly and require an unscheduled network reset. This is what the testnet is for!
Finally, we truly appreciate the dedication and commitment shown by all of our network participants and are grateful that you have chosen to join us for our march to mainnet. The next few months will be super exciting for all things Subspace!