Genesis Token Program: FAQ

Genesis FAQ

General

Q: What is Genesis?

A: Genesis is a token program that prepares participants to become the network’s first block producers upon mainnet launch. Coda token grants will be distributed to Genesis founding members determined from the pool of participants engaged in testnet challenges designed to contribute to greater network resilience.

Q: What is a Genesis Founding Member?

A: ‘Genesis Founding Member’ is the name used to refer to all participants who have been accepted into the Genesis program.

Q: How many people can join?

A: Up to 1,000 members will be selected from the Coda testnet community.

Q: How many tokens will each person receive?

A: Eligible Members will receive a distribution of 66,000 tokens as founding members of the Genesis Program.

Q: What percentage of the protocol is set aside for Genesis?

A: 6.66%

Selection Criteria

Q: How are Genesis members selected?

A: Genesis members are selected from Coda’s testnet community.

Q: When are Genesis members selected?

A: Genesis members are selected on a rolling basis. New cohorts will be selected periodically, and the program will continue until mainnet launch. New members will be contacted in advance before the announcement is made public.

Q: How will you contact selected Genesis members?

A: We will message you via Discord, and ask you to confirm the email that you provided in the Genesis Application.

Q: What happens after I get contacted that I qualified for Genesis?

A: To become a founding member, you must complete the application, pass KYC checks and provide all required documentation, and agree to the Terms and Conditions.

Q: What if I don’t complete the Genesis Application?

A: If you don’t complete the Genesis Application, you will not be eligible to participate in Genesis.

Q: How was the Cohort 1 of Genesis selected?

A: Cohort 1 of Genesis was selected from participants in Phase 1, Phase 2, and Winter Special Testnets. Phase 1, Top 25 on Testnet Leaderboard plus all Testnet MVPs; Phase 2, Top 25 on Testnet Leaderboard plus all Testnet MVPs; Winter Special, Top 10 on Testnet Leaderboard plus all Testnet MVPs. All these participants demonstrated that they can be block producers when mainnet launches.

Q: Why did Top 25 make it into Genesis from Phase 1, and Phase 2, but only Top 10 from Winter Special?

A: Winter Special Testnet happened over the Christmas and New Years holiday. There were fewer people that participated, and less competition on testnet challenges. The Top 10 in Winter Special demonstrated they can be block producers at Mainnet launch.

Q: How will future Genesis Cohorts be selected?

A: Future Genesis Cohorts will be selected from testnet participants based on their ability to become a block producer at mainnet launch, and on their contributions to the community.

Q: What types of things can I do to qualify for Genesis?

A: The types of things you can do to qualify for Genesis include being a testnet participant, creating documentation (e.g. explanatory documents and blog posts), creating tools, translating documentation into different languages, and providing help and support to other community members (e.g. creating and moderating chats, forums, social media channels and meetups).

Testnet Points, Challenges & the Leaderboard

Q: What is the official channel for participating in testnet?

A: Coda’s Discord server is the official channel for participating in testnet. You can find it here: bit.ly/CodaDiscord

Q: What are Testnet Points*?

A: Testnet Points* track how well a testnet participant understands and can operate our network, and how much a participant has contributed to the Coda community.

Q: What are Testnet Challenges?

A: Testnet challenges are specific technical and non-technical challenges that help participants learn how to operate the network, produce blocks, and build the community. Each testnet challenge has an assigned Testnet Points* value as well as instructions for how to successfully complete the challenge. Testnet challenges are shared on the official Coda Discord server in the #announcements channel.

Q: How are Testnet Points* related to Genesis?

A: Testnet Points* are not directly related to Genesis. However, by completing challenges you demonstrate that you understand how to operate the network and will likely be a block producer when we launch mainnet. The more challenges you successfully complete, the more testnet points* you can earn.

Q: What’s a ‘Testnet MVP’ and a ‘Community MVP’?

A: For each Testnet Phase, we recognize the community members who show outstanding skill in operating our network, and those who make testnet a great, collaborative place to be. Past contributions by MVPs have included translating documents into another language, frequently assisting other community members with configurations, questions or trouble shooting, organizing meetups, building tooling, etc. It also includes people who demonstrate exceptional ability to run the Coda network. MVPs get testnet points*, public recognition and an official Discord badge.

Q: What is the testnet leaderboard?

A: The testnet leaderboard tracks the testnet points* of all testnet participants accumulated during each release, as well as over time during a Testnet Phase.

Staking

Q: What are the staking requirements for Genesis Founders?

A: Distributions will be locked up for four years after mainnet launch. During this time, locked tokens will not be able to be transferred, and you will have to stake all of these tokens and participate as a block producer. After the first year, one quarter of tokens will become unlocked. The rest will become unlocked in equal monthly tranches over the following three years. Additional tokens that members earn as staking rewards will not be locked up or subject to any restrictions. For more details, see the Terms & Conditions.

Q: Do I need to participate in the staking challenge on testnet to be eligible for Genesis?

A: No, although it does show that you have more know-how to be a block producer on Coda Protocol mainnet, you can contribute to Coda Protocol in other ways as well. The types of things you can do to qualify for Genesis also include other activities, as mentioned before in the answers to previous questions.

For more information on Genesis, see:

*Testnet Points are designed solely to track contributions to the Testnet and Testnet Points have no cash or other monetary value. Testnet Points and are not transferable and are not redeemable or exchangeable for any cryptocurrency or digital assets. We may at any time amend or eliminate Testnet Points.

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Super excited about the Genesis launch! Unfortunately I couldn’t get in on running a node this time around, but in 2 weeks I will be ready! Thrilled to actually be a part of this awesome journey! A great community full of helpful people and a forum where you can find answers for everything!

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