What is the Testnet Referral Program?
The Testnet Referral Program encourages current testnet participants and community members to invite others to join the Session testnet. By introducing individuals who share Session’s values of decentralisation, privacy, and security, the program aims to organically grow the network with participants genuinely invested in the project’s long-term success. This approach helps ensure the community remains focused on attracting contributors who are eager to support the testnet and build a strong foundation for Session Token’s full launch (TGE). The program launches tomorrow, Thursday November 7, 2024.
By participating in the Testnet Referral Program, you agree to these terms and conditions.
How do referrals work?
Each referral link allows referees to claim a certain amount of test SENT tokens, which they can then use to stake to testnet nodes. Here’s how it works:
1. Operators copy their referral links from the Staking Portal under My Stakes
2. Operators send their referral link to the person they want to invite to the Session testnet, which will direct them to the Faucet.
3. The referee specifies a wallet address that they would like to receive the test SENT to from the Faucet.
4. The referee receives test SENT (as well as a small amount of test arbETH) to their wallet from the Faucet.
5. The referee can now stake their test SENT to available multicontributor nodes via the Staking Portal.
How many referral links do I get?
Operators will receive one referral link. For this first round of referrals, commencing on Thursday, November 7, 2024, this link can be used once for each node that was registered and active following the most recent network reboot on Thursday, October 24, 2024. For example, if you had three nodes that were registered and active following the reboot, your referral link can be used three times. If your node was deregistered or unlocked after initially being active after the reboot, you will still be awarded a valid referral use for that node.
For subsequent rounds in the referral program, the usage limit will be increased, allowing the same referral link to be reused and sent to more referees. Usage limits may vary throughout the program, depending on participation levels on testnet at the time.
How many test SENT tokens will my referees receive?
For the first round of referrals, the Session Technology Foundation intends to provide that each referral code enables a referee to claim 5k test SENT tokens from the Faucet, equivalent to 25% of a full stake.
Will I get any bonus for inviting people?
For this first round, the Session Technology Foundation intends to award referring operators a small bonus of 1k test SENT for successful referrals. Referral bonuses may be adjusted or removed in subsequent rounds, to prevent the referral program from being exploited by non-altruistic participants.
However, it is intended that there will be an ongoing testnet points bonus for operators of multicontributor nodes, incentivising the creation and maintenance of nodes that more participants can stake to during the testnet phase. Read more below to find out how this bonus works.
What are testnet points?
Points are different to test SENT tokens. The Session Testnet points system is designed to encourage active participation by node operators (and soon, node contributors) during the testnet. Points are calculated daily per node, similar to the Oxen Service Node Bonus Program. Every day your node is active and contributing to the network, you earn 1000 points. These points will determine your eventual share of Session Tokens based on participation. In the case of single contributor nodes, 100% of the points earned by the node are awarded to the operator. In the case of multicontributor nodes, contributors also earn points based on their percentage of test SENT contributed to the full stake, after taking the multicontributor operator point bonus into account. The points system has been running since the beginning of the Testnet Incentive Program. A module where operators and contributors can view their points will be added to the Staking Portal shortly.
Learn more about the Testnet Incentive Program here. Please also take some time to review the Testnet Incentive Program terms and conditions.
What is the multicontributor operator point bonus?
Operators of multicontributor nodes receive a fixed 20% point bonus. This means operators earn points proportional to their stake in the node plus an additional 20% bonus share of the points awarded to the node. The multicontributor operator bonus is intended to encourage the operation and testing of multicontributor nodes on testnet.
For example: an operator sets up a testnet node with a staking requirement of 20,000 test SENT, contributing 10,000 test SENT themselves while contributors supply the remaining 10,000 test SENT. The node earns 1000 points per day, with the operator receiving 500 points (50% proportional to their stake) plus 100 points (20% of the contributors' points), for a total of 600 points per day. The remaining 400 points are distributed to the contributors proportional to their stake.
The multicontributor operator point bonus is different to the multicontributor operator fee.
What is the multicontributor operator fee?
Operators can set an operator fee on their multicontributor nodes, which is collected in test SENT, separate from the operator point bonus. This helps to cover operating costs of running a node. For example, if the operator sets a 10% operator fee, they will earn 10% of the test SENT that would have been distributed to contributors. This mirrors how node operator fees will work on mainnet.
How does the referral program contribute to the success of the testnet?
The referral program increases the number of participants in the Session testnet, which is crucial for testing key features such as multicontributor staking. By expanding the testnet community with engaged and technically proficient users, the program enhances the network’s resilience and readiness for TGE. Each referral also helps raise awareness of Session and fosters organic growth through word of mouth.
What should I keep in mind when inviting people?
Your contributions to the Testnet Referral Program will significantly influence the future of the Session Token community and its culture. In crypto community building, it’s often advantageous to focus on power users and early adopters who have a high level of technical literacy and curiosity. These users are typically ahead of trends, influential among their peers, and lay the groundwork for less technical users to follow, driving future ecosystem growth. It’s equally important to invite individuals who are focused on long-term goals and passionate about the project’s technology, rather than those seeking short-term gains. Keeping these principles in mind will help ensure sustainable community growth.