Rewards RWD Progress Update – Aug 17th

Hi Everyone. Lots of updates.

== Rewards August DEX Liquidity Pools Airdrop ==

Let’s start with the DEX pool airdrop.

Our first snapshot of the DEX liquidity pools occurred On August 15th @ 23:59! Various snapshots will be taken randomly in between Aug 15th – Aug 31. Then on August 31st @ 23:59, a final snapshot will be taken. Within 48 hours of the final snapshot, $5000 of ETH and $5000 of BNB will be airdropped to participants based on their proportion of the pools. Keep in mind liquidity must remain in the pool during this timeframe to be eligible for the airdrop.

== MCC Rewards Program 6 day Summary ==

The first week of the MCC RWD Program.

Individuals TX issued: 607
Txs issued on ETH: 372
Txs issued on BSC: 235
Average TXs per day issued: 101
Average dollar amount: $8

Last week time was spent getting this program dialed in and optimized. One of the interesting things we noticed is that quite a few people shop directly from exchange addresses: Coinbase, Binance, Kraken, etc. While it is discouraged to use exchanges as wallets, it seems a percentage of people do. Since those exchanges don’t yet support RWD, the exchange will get RWD but not pass them to individuals yet, so we have started blacklisting known exchange addresses from receiving RWD as part of the MCC RWD program. Secondly, Ethereum gas fees last week were high to say the least. To date it doesn’t appear EIP-1559 had the effect of reducing gas fees as most hoped it would. At times for a single tx the gas fees spiked up towards $100-$1000. Due to this, we have decided for the moment that RWD issued on the ETH chain for the MCC program will be sent out weekly rather than daily. The amounts will still be exactly the same though, aggregated weekly. We will monitor the ETH gas situation and make adjustments accordingly. RWD issued on the BSC chain for the MCC program will continue to be issued daily.

== Token Contract Audit ==

We are currently working with a couple audit places. Certik is going to take longer than some of the others. However, some wallets, exchanges, and people would like to see an individual token contract audit. To get something done faster while we wait, we had Techrate do a full audit as well. The audit on the ETH token came back 100% okay, and we are waiting on the BSC token audit now. We expect to have it by Wednesday-Thursday this week, and then they will both be published.

== Staking/Farming ==

It seems most were in favor of us deploying staking contracts in the short term to allow for staking more quickly. As we mentioned previously it could be a bit before staking pools are able to be properly deployed on/for large DEXs. So we have begun work on a staking DApp. It will take a bit to finish and properly test but we will keep everyone updated on our progress. When near completion we will present some APY options and allow for a vote.

== Website ==

The Rewards website will be undergoing a big redesign within the next couple of weeks. The project will be showcased in a more fancy way. New features, content, etc. Work has commenced and as we get nearer to deploying it we will announce it.

== Plugin ==

Contained in today’s newest release of the MCC gateway is a notification, alerting all webshops using the payment API about Rewards. The benefits to their shops and customers. While we are in contact with many shops using the API on a day to day basis, we don’t directly speak to all 3000+ on a day to day basis. The notification will let all existing shops know what we are doing with Rewards in case they haven’t been following our updates via our website or Twitter. Additionally any new installs will see the notification as well.

== Point of Sale App ==

Preliminary work has begun on a point of sale app for the payment API. This will benefit both MCC and RWD as it untethers both from strictly e-commerce and can be used IRL. Lots of demand for us to create such an app lately. We will roll out a beta phase with some partners (hint) before rolling it out for everyone to use.

== Meme Contest ==

On Thursday we are going to start a meme contest. The prize pool will be $500 and it will run for a few days. More details will be contained in the contest post itself.

== Suggestions/Ideas Box ==

Some great suggestions and ideas have come from you all. For this reason we have set up a form to keep better track of them. If you have a suggestion or idea you would like to see incorporated into the project, you can now add it to the suggestions/ideas box using the link below.

– Rewards/MyCryptoCheckout Team