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Cryptocurrency News Articles
Unveiling Instant Rewards: ZetaChain Growth Fueled by Rapid User Adoption and Scalable Rewards System
Oct 11, 2024 at 08:00 pm
Designed to outperform conventional cryptocurrency incentive systems like airdrops and points, ZetaChain has unveiled an inventive rewards system known as Instant Rewards.
Web3 infrastructure platform ZetaChain has unveiled a new rewards system dubbed Instant Rewards, designed to outpace conventional cryptocurrency incentive systems like airdrops and points.
This new system directly addresses some of the concerns around previous incentive systems, offering clear and immediate benefits to users. Under traditional reward systems, such as airdrops, users often have inflated expectations, and the value of the incentives usually fizzles out soon after the first distribution.
However, ZetaChain’s Instant Rewards flips this paradigm by allowing users to instantly claim ZETA tokens for their engagements within the network.
👋 Hello, Instant Rewards!
Discover ZetaChain’s new web3 perks model to grow the first universal blockchain: https://t.co/3zRddoeEko
— ZetaChain (@zetablockchain) October 9, 2024
Rapid User Adoption and Scalable Rewards System Fuel ZetaChain Growth
Since its quiet introduction, the new rewards program has gained some traction. In just three weeks, over 150,000 users have minted their XP NFTs to gain access to special perks, including Instant Rewards. This impressive adoption rate showcases the platform’s ability to engage and motivate its users.
While conventional systems may require users to wait for distributions or build up points over time, Instant Rewards offers a more direct and engaging experience for users.
Furthermore, ZetaChain’s rewards system is designed to scale up based on user engagement. As users participate more on the platform, they will uncover even greater benefits, creating a dynamic, merit-based system.
In other news, the platform is looking to expand on this concept by allowing developers to build their own custom reward programs, opening up new avenues for integration and growth within the ecosystem.
In addition to the Instant Rewards program, ZetaChain has also launched a Global Advocacy Network — a private social network dedicated to fostering real-world support for the platform’s mission.
Consisting of 378 members, the exclusive group serves as a hub for community engagement and communication, ultimately furthering ZetaChain’s outward-facing goal.
From its involvement in creating the Basic Attention Token (BAT) and later the ZETA Points system in 2021, rewarding its community has always been lucrative to ZetaChain. The platform’s focus on substantial incentives has been a recurring theme, leading up to this latest creation with Instant Rewards.
As previously reported, on the other hand, ZetaChain is a layer-1 blockchain that boasts interoperability among major ecosystems, including EVM, Cosmos/IBC, Bitcoin, Dogecoin, and Tron.
This capability enables native smart contracts and allows developers to build powerful decentralized applications (dApps) that execute across multiple blockchains, facilitating transactions through seamless data transfers.
Meanwhile, the chain’s native token, ZETA, is trading at around $0.5615 at press time and has seen a 4.56% gain over the last 24 hours. The rally brings the market capitalization to over $250 million.
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