Gemini 3 Incentivized Testnet rewards clarification

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!

11 Likes

Nice start. We with u until end of story

3 Likes

What is the total token supply?

Jim Counter via Subspace Forum <notifications@subspace.discoursemail.com> 于2023年10月7日周六 03:55写道:

This information is not available yet.

Jim,maybe you want to edit 1008000 and 10080.

Thanks for the catch @jinhuanming! Edited with the correction.

Thank you for the information

Waiting for 3G thank you email

Is the conversion mainnet reward obtained from 3H less than what can be obtained from 3F and 3G?

The reward pool grows until the end of the testnet and will get divided across all incentivised Gemini 3 network phases. There is not a different conversion rate between them.

Based on a total of 2.4 percent,
3F can approximately account for 0.8 percent,
3G can approximately account for 1.3 percent,
is 3H currently unknown? Because it might exceed 2.4.
Is that correct?

Some people think that distributing the total token supply based on 3F + 3G + 3H is wrong?

Because I must understand clearly to avoid someone making a large investment in 3H.

The reward pool is not fixed at 2.4% it grows at 0.1% a week and, with the recently announced testnet extension, will exceed our original estimate which was based on 24 weeks x 0.1%.

We don’t know what the final reward pool will be at the moment.

If the farmer’s beneficial address A obtains 100 tSSCs, and then transfers the 100 tSSCs to address B, will the mainnet token be mapped to address A or address B?

Address A - that is the one that earned the block and vote rewards which is how incentivised testnet rewards are accrued.