Phase 2 - Upcoming

A detailed breakdown of the changes for Phase 2 for the $RDAT token.

Summary of changes

• Introduce $RDAT staking with referral rewards to protect Phase 1 participants from dilution

• Update data upload rewards

• 10M $RDAT distributed to new users in Phase 2, with additional staking rewards to protect against dilution for existing $RDAT holders. We estimate this will allow 100,000 new users to contribute their data to r/datadao.

• 399,880 $RDAT in Phase 2 will be directly allocated to the 2,707 users who already uploaded their data before April 7 but did not claim in time.

1. Data Upload Rewards:

   • Users earn points for uploading data, calculated as: 5 + 5 * sqrt(post karma + comment karma). Users do not earn points if they do not upload their exported CCPA data.

   • Users need a minimum of 10 karma (post karma + comment karma) to upload data.

   • This rewards system was updated to incentivize high-quality data contributions.

2. Staking and Referral Rewards:

   • $RDAT holders from Phase 1 can stake their tokens to unlock referral bonuses and protect against dilution as token supply increases in new phases.

   • Stakers earn 20% of the points earned by their referrals for data uploads.

   • Stakers must hold at least 500 $RDAT to qualify for referral rewards.

   • The maximum referral reward a staker can earn is equal to 2x their staked $RDAT amount.

3. Data Quality Checks and Penalties:

   • If 10% or more of a staker's referrals are found to have uploaded malicious or tampered data, the staker will not receive any referral rewards.

   • If over 20% of a staker's referrals are malicious, 20% of their staked $RDAT will be reclaimed by the treasury.

4. Protection Against Dilution:

   • Staking and successfully referring users allows $RDAT holders to earn more tokens and protect against dilution as supply increases.

   • With the current Phase 2 parameters, stakers can be fully protected from dilution if they refer high-quality data contributors.