Joystream Founding Member Program
Hello everyone!!
If you haven’t heard of the Joystream Founders Program yet and don’t have any idea how this project works, then you’re in the right place at the right time. In this article, I want to focus on the main points of this new program. The Joystream is a video platform controlled, owned, and operated by its users, announced the Joystream Founding Member Program. The Program will grant committed community members a considerable share of the platform’s initial token issuance in return for their effective participation in community.
As part of the rollout of the program, loyal community members will be awarded a generous chunk of tokens Joystream Testnet Tokens (tJOYs) backed by fiat currency for their contribution to the success of the project. Joystream have set aside 15% of the mainnet genesis token issuance to the program, with flexibility for this to be increased considerably if the scheme is successful in motivating community engagement.
A new leaderboard system is being introduced to track community contributions. To get into this leaderboard, you must either be currently enrolled as a founding member or submit at least one summary of the community’s activities.
A community activity summary can be understood as a regular report of all of your community contributions over a given period. In it, you explain to Jsgenesis reviewers how you have contributed to the success of the project with your community activities. In this case, you explain to the Jsgenesis reviewers how you have contributed to the success of the project through your public activities.
Once the program has formally ended (approximately one month before mainnet release), points allocated to Founding Members will be passed through a formula* which will determine what percentage of the token issuance each individual member recieves based on their relative point scores.
In the next article, we will look in more detail at all the steps to participate in the Joystream testnets program, which will last until February 28.
