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Reward Farming

Send Money and Get $PIP
PIP's interactive token distribution model rewards users who actively utilize PIP products including Social Pay, Payment Links, and Invoice. Eligible users will receive $PIP tokens daily, which will be determined based on the amount of money (except $PIP) they send through PIP products. The goal is to attract more users to Web3 to accelerate the transition. Rewards may be subject to user-specific limits.

General Rules

  • Reward farming period: Rewards are calculated daily, based on the past 24 hours’ transaction activity. ( 00:00 UTC )
  • Reward distribution: Daily farming rewards will be distributed to users 6 hours after the end of each day.
  • All the rewards will be calculated based on successful transactions.
  • Refunded, pending, or canceled transactions will not be included to reward farming calculations.
  • Transaction time is based on the receiver's receiving time.
  • A notification will be sent in advance if any changes occur to reward farming (rate, etc.).
  • Daily PIP reward limits may change due to user participation and the balance of the farming system.
  • PIP.ME transactions have no fees and are not included in Farming Rewards.
  • PIP token transactions are not included in Reward Farming.
Multi-use of wallet addresses and social media profiles is not allowed. The users who try to exploit or abuse the system will be banned permanently from the PIP ecosystem.

How Are Rewards Calculated?

A. Rewardable Actions

Transactions listed below will be eligible for the reward farming program:
  • Sending money with Social Pay Extension
  • Issuing PIP payment links
  • Paying for the PIP invoice (Issuing invoice is not applicable)
UserReward=(IndividualPoints/AllPoints)∗DailyRewardUser Reward = (Individual Points / All Points ) * Daily Reward
IndividualPoints=NetworkRate∗VolumeRateIndividual Points = Network Rate * Volume Rate

B. Network Rate

  • Applicable only for sending and spending transactions.
  • Point rates are based on which channel is used for the transaction.
Twitter
1
Twitch
1
Reddit
1
Discord
1
Github
1
PIP Tags
1
.sol Domains
1

C. Volume Rate

Users who have a higher volume will get higher points.
VolumeRate=AssetRate∗FeeRateVolume Rate = Asset Rate * Fee Rate

C-1. Asset Rate

Stablecoins (USDC, BUSD, DAI, USDT )
2000
Others ( SOL, MATIC, BNB, ETH, CAKE .... )
1000
PIP
0
Transacting $PIP is not included in Reward Farming.
C-2. Fee Rate
TransactionAmount(USD)∗0.01Transaction Amount ( USD ) * 0.01
  • Fees are applicable only for sending money.
  • The processing fee is 1%.
  • The fee is collected by the asset to be transmitted.

Claiming Rewards

  • You can claim your rewards after 02:00 am (UTC) at any time from Social Pay Extension.
  • You have to earn more than 1 PIP to claim.
  • Claimed rewards will be sent directly to your PIP wallet address.
  • Any rewards you don't claim will still be available the next day.