Incentiv, a Layer 1 blockchain compatible with EVM, has reached a major milestone in its current public testnet, having received more than 1.2 million wallets since its launch earlier this year. The platform runs on a Proof of Work (PoW) model, but it is a contribution-scored model that assigns reward based on what one does on-chain rather than just investing capital.
Hundreds of thousands of challenges have also been completed on the testnet, reflecting the community’s involvement. Over 1.7 billion testnet $TCENT tokens have already been rewarded via open faucet systems, allowing early users to get exposure to the network’s reward mechanisms before its mainnet is launched.
Incentiv+ Pools Fees to Reward All Contributors
The Incentiv+ engine is the key element in the Incentiv design. It is a single rewarding engine that gathers the value and fees accumulated in each transaction and accumulates them in a common Unified Rewards Pool. This pool allocates rewards proportionally to miners, developers, liquidity providers, transaction bundlers, and everyday users based on their contribution score.
In order to foster early adoption, 26 percent of the total supply of $CENT tokens is being set aside in the Community Rewards pool. This is a smaller form of subsidy that allows large payouts until transaction fee income provides most of the funds. There is also a dedicated Short-Term Growth Fund that will facilitate the network’s important practices and strategic activities at its initial stage.
Advanced Tools Enhance Incentiv Network Experience
Incentiv enhances usability and flexibility through sophisticated account abstraction. Some of the main capabilities are the Unified Token system, where transaction fees can be paid using any supported token, a passkey wallet, which allows passwordless and secure onboarding, bundled transactions that aggregate multiple interactions into a single transaction, and a native decentralized exchange with on-chain swapping between tokens.
There is an open SDK that enables developers to easily integrate dApp sign-in functionality. This will help mitigate the obstacles for developers and end users to interact with the network with Incentivs’ contribution-based economic scheme.