A new token means a new contest - a new Twitter Meme Contest is starting!
Topic: The contest is super simple - create a meme relating to the new tipping token on Publish0x - $SPOT! ;)
Please note that memes about SPOT, the token - how it works, what it is, how it can be used... have the highest chance of being rewarded.
Memes regarding receiving tips in SPOT on Publish0x, as well as memes where $SPOT is interchangeable with most other tokens will have a significantly lower chance of being selected as the winning memes.
Start: Right now!
Deadline: Submit your meme on Twitter by Tuesday, 10th of January 2023.
Rewards: $300 in SPOT rewards; the rewards will be distributed in the following way:
- 1x $50 in SPOT prize for the best meme!
- 10x $20 in SPOT prizes for 10 great memes.
- 5x $10 in SPOT prizes to lucky meme creators who haven't won the top prize.
- There's additional 5x $5 in SPOT rewards for sharing this post on Twitter (details below)!
How to Participate in the #SPOTtheMeme Contest?
Hurry up!
- Submit your $SPOT themed meme by Tuesday, January 10th, 2023.
- Use the hashtag #SPOTtheMeme in your Tweet.
- Optionally, follow @AmpleforthOrg, @ButtonDeFi and @Publish0x on Twitter!
PS. If we like / heart your entry on Twitter, we've definitely seen it!
Please note that memes about SPOT, the token - how it works, what it is, how it can be used... have the highest chance of being rewarded.
Memes regarding receiving tips in SPOT on Publish0x, as well as memes where $SPOT is interchangeable with most other tokens will have a significantly lower chance of being selected as the winning memes.
Additional 5x $5 in SPOT Rewards for Sharing This Post on Twitter!
We've prepared additional $25 in Spot rewards for the #SPOTtheMeme Twitter Giveaway. The 5x $5 in SPOT rewards will be given out to 5 random users who share the news about this meme contest on Twitter - to participate, tweet a tweet and:
- Link to this post within the tweet
- Use the hashtag #SPOTtheMeme
- Follow and tag @AmpleforthOrg, @ButtonDeFi and @Publish0x on Twitter.
Note: Your Twitter account has to be older than a month, and you need to have at least 20 followers and 10 tweets in the past year. You need to tweet out your tweet between today and Tuesday, 10th of January 2023.
How Will You Choose and Pay the Winners?
We will choose the winners a few days after the submission deadline (Tuesday 10th of January 2023) and add their rewards in $SPOT to their Publish0x accounts. As usual, the tokens can be withdraw on Monday, by requesting the withdrawal from the Payments page.
While you can win a reward if you get lucky, we will also reward memes we like best and that obvious effort was put into. Originality does count!
Note: In case you win a prize in the Twitter contest and your usernames are different on Twitter and Publish0x, don't worry. In that case, we will simply send you a DM on Twitter asking your for your username on Publish0x, and then you will get your reward!
What is SPOT?
SPOT is a new token that is integrated for tipping on Publish0x!
$SPOT tokens are designed to follow the $AMPL price, but without exposure to the rebase. SPOT can be redeemed 1 to 1 for $AMPL tokens at any time on the Spot minting app.
$SPOT tokens are designed to follow the $AMPL price, but without exposure to the rebase, and can be redeemed 1 to 1 for $AMPL tokens at any time on the Spot minting app.
Spot is an inflation resistant store of value token which targets the 2019 $1 USD, built on top of the Ampleforth protocol. As a simplest possible explanation: Take your AMPL tokens, deposit them into the SPOT minting app > mint $SPOT tokens.
$SPOT tracks the price of $AMPL, but $SPOT does not rebase. You can redeem spot one to one for $AMPL via the SPOT minting app.
When you deposit AMPL tokens into the SPOT app, these tokens are split into 2 “tranches” (into two different tokens) of tokens, called a-AMPL and z-AMPL, at a 20% - 80% ratio. If you deposited 100 AMPL into the Spot app, you would get 20 a-AMPL tokens and 80 z-AMPL tokens.
- A-AMPL tokens get turned into $SPOT (the new tipping token on Publish0x!), and again, these tokens DON’T rebase, and they are redeemable 1-1 for AMPL regardless of current AMPL price.
- The Z-AMPL tokens do still rebase. Infact, they are essentially leveraged and represent the full initial amount of AMPL. In our hypothetical case in which we've deposited 100 AMPL into the Spot app, we would get 80 z-AMPL tokens and 20 a-AMPL tokens. While 20 a-AMPL (essentially SPOT) tokens do not rebase at all, the 80 z-AMPL rebases as much as the original 100 AMPL would rebase; essentially, z-AMPL is leveraged 1.25x the normal AMPL rebase.
Here is the full Spot info site and whitepaper: https://www.spot.cash/
- You can learn more about what SPOT is and how it works, by clicking here.
- Or by reading this article on Forbes
- And check out this post about SPOT and how it works on AMPLeforth's Blog.
Happy New Year, take it easy and enjoy the holidays!
Cheers,
Igor
