We are just about one month into the Amplify bounty program!
Now you might be wondering–especially if you are new to crypto–what’s a bounty?
A bounty program can be thought of as a campaign of sorts. In crypto bounties, participants typically receive tokens in exchange for supporting the project–whether that means identifying and attempting to fix bugs, helping projects boost their social profile, or helping a project complete a few basic tasks (like document translation) involved in rolling out a platform.
The idea of a bounty isn’t to outsource foundational tasks like coding or to astroturf the crypto world; it’s to enlist an already engaged community to help bootstrap a project and reward those participants for the time and effort they contribute. This is a proven and productive strategy for new businesses and projects that place a high premium on their community.
You may be reading this post because you’re already part of the Amplify community–if so, welcome back!
But you might be a first-time reader who may have read about us in the news or heard of us through a referral or the bounty program itself and have never participated in the Amplify community before–if so, welcome!
No matter which of those two groups you find yourself being a part of, here’s a quick breakdown of the Amplify project and what we have set out to achieve.
Amplify is a multi-phase project that will initially launch as a sophisticated crypto brokerage. If you are interested in learning more about the specific advantages of using a brokerage service, then you might want to check out some of our earlier posts for more details. The Amplify brokerage forms an architectural base for phase two: the Amplify Distributed Exchange. This exchange is hosted within Amplify itself, providing traders with a broad range of trading pairs and user-friendly, sophisticated trading interfaces and tools. Phase three builds on top of Amplify Distributed to create the Amplify Hybrid Exchange, a next-generation crypto trading platform that combines the speed, reliability, and liquidity of a centralized exchange with the decentralized security and low fees of a decentralized one.
How the Bounty Program Works
At the moment, the Amplify bounty program encourages social engagement and referrals in return for AMPX tokens. Fans of Amplify can earn the platform’s AMPX tokens by talking about it on Facebook, Twitter, Medium, Reddit, and Telegram. You can read more about the bounties (rewards) for engaging with these social platforms on our Bitcoin Talk forum post here.
There are different rewards for the different types of engagement, and rewards range from 50 to 800 AMPX per social engagement task. Because Amplify will be an internationally accessible project for crypto traders all over the globe, having our materials available in several languages is very important to us. That’s why we’re offering 1,000 AMPX for fluent translations of Amplify materials posted to non-English Bitcoin Talk subforums–if you can help the Amplify project out in this area, don’t be afraid to reach out!
We are just about a month in–and the numbers have been speaking for themselves! Over 19,000 people have pre-registered for the Amplify Exchange platform – exceeding our goal of 10,000 pre-registrants! Our Telegram channel has ballooned from 83 users to over 1900, we have almost 1,000 new followers on Twitter, over 900 on Facebook, and almost 2000 new impressions on LinkedIn. And so far, Bounty participates have earned nearly 90,000 AMPX (in total) so far.
One of our most recent bounties is the referral bounty. Getting involved in this bounty is easy–users receive 100 AMPX for each user that signs up on Amplify through their referral code. To incentivize actual trading and not just sign-ups, Amplify will provide an additional 500 AMPX when a user that signs up through a referral link makes their first trade.
AMPX are utility tokens, not speculating tools, so bounty participants are actually earning a claim to tokens that will be released once the Amplify Brokerage is launched. Paying brokerage and exchange fees in AMPX results in significant savings–so it’s no wonder crypto traders are taking notice of an early opportunity to earn AMPX!
Unfortunately, while securities regulations prevent Amplify from issuing bounties to U.S. residents, we’re still infinitely grateful to our U.S. fans who participate in our community and talk to others about the Amplify project. U.S. traders can earn AMPX by operating Amplify nodes (or acquire it on exchanges) once our decentralized phase launches in the future, so be on the look out!
Interested in joining the Amplify bounty program? Well, you’re in luck!
You still have time to make a difference and earn some AMPX—-if your region allows it of course. Participating in the referral bounty is as simple as pre-registering on our website. Once your account is set up, you’ll receive a referral code–be sure to share it when talking about Amplify to earn your referral bonus! And detailed instructions for participating in social media bounties and translation bounties can be found on our Bitcoin Talk forum post here.
And last but not least, we would like to thank those who have participated in the bounties so far for their thoughtful feedback and discussion of the Amplify project, their participation in the broader crypto community, and their early involvement as well as interest in Amplify. A bounty program is an excellent way to both reward and grow the community–so if you haven’t already, check out our bounty opportunities to see how you can participate!
And do not hesitate to reach out to us at [email protected] with any questions that you might have!
Happy Bounty Hunting !