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Magic Karma
Magic Karma is a personal score that quantifies all user activity and functions like a credit score.
The Karma points don't have real value while we are in private beta phase. After public beta is announced, users will be able to earn Karma and withdraw in USDT through Binance Gift Cards. The users that have abused the system and have an unrealistic high amount of karma points will be banned or have their karma reset.
Magic Karma is a personal score that keeps track of a user's Magic Square activities. The higher a user's score, the more the community can trust them. Karma was created to reward users for positive actions.
Karma was created to reward users for positive actions in the Magic Store
. Positive action is one of the use cases that are defined below:
The table below will be updated as new actions are added.
Action | Score | Comment | Regularity |
|---|---|---|---|
50 | Successfully claimed a Hot Offer | multiple (once per offer) | |
Validation | 25 | Successfully voted for an app | multiple (per app) |
Connect a Wallet | 10 | Completed MagicID registration | one-time |
Verify Email | 10 | Completed Email verification | one-time |
Refer a friend | 10 | Refer a friend (10 for the referrer and 10 for the referral) | multiple |
Create a Username | 5 | Username specified and saved | one-time |
Connect Social - Discord | 5 | Completed verification of Discord account | one-time |
Connect Social - Twitter | 5 | Completed verification of Twitter account | one-time |
Daily login to Store | 5 | The user receives a daily reward for the first login of the day to the Store; subsequent logins are not rewarded. | multiple (once in 24 hours) |
5 | Created a new Magic Boost account | one-time | |
Magic Boost - conversion | 0.5 | multiple (for each conversion) |
One-time* - if user was rewarded for one-time action once, he will not be rewarded for the same action the next time he will make the same action. For example, if user has verified an email and was rewarded, and then he has changed the email and verified it once more time, he will not be rewarded twice.
Overall, a higher Karma score provides more trust from the community as well as more tangible rewards. For now, users can only test the product and accumulate Karma points.
Karma is updated every 2 minutes. Once an action is made, it will take 2 minutes to reflect in your account!
The Magic Karma Reward Program flow:
- 1.
- 2.Users global karma scores increase according to the earned karma defined in the table above for each action.
- 3.All daily karma is distributed in reward points at the end of the day (at 23:59 GMT) among users proportionally according to the daily pool of 100 reward points.
- 4.If a user reaches the reward withdrawal minimum funds can be claimed in the form of a Binance Gift Card.
- 5.The user can see a progress bar (Total Reward 0/10 USDT) - where Total Rewards are calculated as reward points * reward rate. If a user collects 7.8 USDT, the Collect Rewards button is not yet clickable.
- 6.In order to receive the funds, a user needs to have a verified email address in the Magic ID settings. In case you attempt to withdraw funds, you will be asked to verify your email first.
- 7.Once you have claimed your rewards, you will receive an email with the Binance Gift Card. Your Total rewards will drop to 0 and the progress bar starts again.
- 8.You may pass the gift card to anyone outside the platform. The card can be used only once. The life time of a card is 30 days.
The Karma Leaderboard shows the daily ranking of users based on their daily earned Magic Karma. Each user earns a percentage (share) of the daily pool (100 USDT).
The Daily Pool presents the total reward in USDT for all users per day.
The Collect Rewards button is used to withdraw the Total Reward in a form of a Binance Gift Card. The condition to withdraw the total reward is to have a verified email address and to reach the minimum withdrawal amount of 10 USDT. Once the total reward is successfully withdrawn, the Total Reward is reset to 0. The Karma points remain the same.
My Daily Ratio - presents your position on the leaderboard on that day.
My Daily Share - presents the percentage of the daily share that you have earned.
Time left shows the remaining time until the daily pool ends. At 23:59 GMT everyday, the daily rewards are calculated and added to the Total Reward.
It's possible to view the status of a specific day under the History section.
Last modified 1mo ago