The inclusion of a new incentive token known as the Satoshi Prize or Core S-Prize has been announced by Core DAO in response to the impending $CORE airdrop.
The token will be employed for ecosystem development in homage to Satoshi Nakamoto and the Satoshi Plus consensus algorithm. S-Prize, according to the protocol’s Medium release, would encourage the creation of useful Decentralized Applications (dApps) and reward developers.
“The goal of the S-Prize is twofold: (1) incentivize the development of real applications that deliver value to Core users and (2) reward builders for the value that they create on the Core network. As one of the world’s largest and most decentralized communities, delivering useful products on Core is the ultimate achievement,” Core DAO wrote.
We're excited to announce the Core S-Prize 🥇
A new and exciting model to incentivize ecosystem development that delivers value to Core users, and rewards builders for the value they create on the Core network.
— Core DAO (@Coredao_Org) February 3, 2023
The goal of the S-Prize protocol is to ignore rewards that don’t benefit users in the network’s early stages. Grants encourage the development of protocols even when they conflict with the long-term goals of the network. With S-Prize, developers will receive compensation depending on the contribution of their applications to the Core ecosystem, maximizing user benefit.
Builders that win the S-Prize will have a difficult time reaching goals and milestones. The tasks will also have a time limit and come with fair CORE prizes. The challenges, CORE prices, and payment schedule will be revealed by Core DAO.
Developers that put up genuine effort to improve the Core DAO ecosystem will be rewarded, according to S-Prize. Developers, users, and the entire Core community would gain from the endeavor. Users can have access to worthwhile dApps on the network by rewarding builders based on the value they provide to the ecosystem. Overall, S-Prize will put the network in a position to dominate the blockchain market.
What is Core DAO?
Core DAO is the official decentralized organization developing the Satoshi Plus ecosystem. It represents an opportunity for miners to access new revenue streams by contributing hash power to the chain. Inspired by the principles of both blockchains, Core displays a deep appreciation for the crypto ecosystem’s history and an even greater excitement for Core’s role in its future.