- Magic Square rewards program with a $750K prize pool announced.
- Active members earn from a daily 10,000 $SQR Reward Pool based on Karma.
- Participation requires locking in $SQR tokens for Premium status.
Since its inception, Web3 has been struggling with engagement. Getting users is challenging no matter how much money investors pour into the space. Web3 app store Magic Square is hoping to change that.
Magic Square has unveiled a rewards program for its most loyal users worth a whopping $750,000. The incentive aims to boost activity levels in the Web3 marketplace by rewarding the early adopters of the new tech space.
Magic Square’s Engage-to-Earn Campaign
On Monday, February 12, Magic Square unveiled its engage-to-earn campaign, allocating over 1.5 million $SQR tokens valued at more than $750,000. For Magic Square , the campaign is not just about distributing rewards; it’s primarily to enhance its community.
The rewards program will feature a daily pool of 10,000 SQR tokens awarded to users with the most engagement karma based on a points system.
Hosted by community engagement platform Zealy, the plan promises a seamless experience for participants. Moreover, the platform also uses sophisticated anti-bot measures to ensure that only genuine users get the rewards.
How To Qualify for Magic Square Rewards
Here’s how users can qualify:
- Membership Registration: Users must sign up as Magic Store Members, which means joining the Magic Square platform and engaging with its offerings.
- Active Engagement: Eligibility for rewards is contingent upon maintaining active engagement within the Magic Store. This involves interacting with various applications, contributing to the community, and accruing Karma points, which are crucial for earning daily rewards.
- Token Lock-In for Membership: To participate, users are required to lock in $SQR tokens to obtain either Premium or Premium Plus Membership. This step signifies a commitment to the platform and grants additional campaign points, enhancing the user’s potential to secure rewards from the prize pool.
On the Flipside
- Magic Square’s campaign faces the challenge of ensuring fairness in a landscape where sophisticated bots can mimic human behavior.
- The requirement for users to lock in $SQR tokens to participate in the campaign may create barriers to entry for some users.
Why This Matters
This campaign reflects the evolving dynamics of user interaction within decentralized ecosystems, offering insights into how platforms can create value for users and investors.
Read more about Magic Square’s investors:
Huobi Ventures Invests in Magic Square to Transform the Future of Crypto
Read more about Solana’s latest venture:
Solana Pushes XP Marketplace to Rewamp Online Ticketing
