Announcing Off-Chain Credo Rewards for New Active Users
Shortly after the Credo token sale, our team experimented with a number of airdrops and distributions of Credo to new users. These distributions allowed us to spread Credo more quickly and yielded a positive response from users who were excited to find more tokens in their wallets. However, transaction fees on Ethereum then spiked up to about $1 per transaction or more. This lead to us temporarily suspending Credo distributions since we didn’t want to spend thousands of dollars per day on transaction fees.
Today we shipped an off-chain mechanism for Credo distributions via BitBounce and will resume rewarding new active users with a Credo. We will also reward existing active users who hadn’t previously received a distribution or other payment with a Credo. These Credo distributions will show up immediately in users’ BitBounce wallet balances, and will be made usable and withdrawable this quarter.
This change will help us spread Credo far more rapidly through bypassing the limitations of on-chain transactions. As I write this, we have over 146,500 active users and each of those will now be a Credo owner. If you aren’t using BitBounce already and would like to receive a Credo for doing so, please go ahead and sign up today!