Stage 2

Status: Completed

For the current dApp, see the entrypoint. Note that, each stage's entrypoint is deprecated in favor of the next stage.

At this stage, Users will be testing:

• Claim Voucher

• Redeem Rewards: Convert PRP to zZKP

• Recharge Pool (to be made available in a week post Stage2 launch)

• View private balance on the Dashboard

Vouchers

Vouchers are a reward mechanism that can be used by the Protocol to incentivize for certain functions that have to be triggered by Users. We refer to them as Admin functions. Those could include but not limited to functions such as

• Recharging Reward Pool

• Trigger conversion of token

Note: the onboarding reward voucher issued in this Stage is only for testing purposes.

When a new account is created and activated successfully, a user gets (a) 100 zZKP onto his zAccount and (b) 1 voucher which is worth 500 PRP. This is valid for all new users and the users who have created accounts during Stage 1.

Note: it can take up to a minute to get the voucher screen updated with the new Voucher.

Voucher has a predefined value which can be different depending on the type of performed action (Onboarding = 500 PRP, triggering recharge the reward pool = PRP 100). Voucher is nominated in PRP. To get those PRP, one should claim a voucher which is akin to submitting a transaction “burn a voucher and get the corresponding PRP”.

Vouchers are grouped per type of action performed. Stage 2 will have two such groups - (1) Onboarding bonus voucher and (2) Recharge bonus voucher. Vouchers can be claimed by group only, which means a user gets the total PRP for all vouchers in a given group. When claiming is completed successfully, a user will see an updated balance on his (a) Dashboard → Panther Rewards Points section → Available PRP amount and (b) Rewards page → Redeem PRP screen → Available PRP section.

Rewards / Redeem PRP

Rewards or Panther Reward Points (PRPs) are created as an incentive for users to join and continuously use Panther Protocol. This implies converting the ‘Available PRP’ to ZKP which is accomplished via a single-sided AMM (Automated Market Maker) pool. It is one-sided because users can only convert their PRP to $ZKP and not vice versa. The exchange rate of this conversion is dynamic in nature and depends on several factors including the amount of ZKP in the pool and the total available PRP held by users at any given point in time, among other factors. For details on how Panther Rewards work, please see Panther docs.

There are two types of PRPs:

• Available PRPs which can be exchanged to zZKP (ZKP within the MASP) immediately.

• Pending PRPs are the accrued rewards that are not realized yet because a user has not spent those UTXOs. To make it available, the UTXO's should be included in transaction that a user performs within Panther.

Recharge Pool

This is a functionality where ZKP is fed to the AMM pool and this will be triggered by the user (who signs the transaction and pays the gas fees) and the Protocol incentivizes the action in the form of a PRP Voucher as described above.

Check out the diagram to understand the source of $ZKP for the Reward Pool (on Polygon for mainnet beta).

The Pool can be recharged which means an additional amount of zZKP tokens (see the Recharge screen, Recharge Size field) will be brought to the pool. The more zZKP are in the pool - the better price the user gets. The UI reflects it via Ratio after the recharge field (see the rate and delta, that is nominated in %).

Testing and providing feedback

As we mentioned, testnet rewards are automated, and as such, the testnet itself will reward users for going through the Rewards process. The goal for the testnet is to debug and enhance the Protocol before mainnet beta’s launch.

Our expectation is that users submit bugs and share ideas to enhance end-to-end functioning, interaction and usage of wallets, UI/UX flows, and let us know about any component that doesn’t look or feel as expected.

Spotting and fixing any possible bugs within the testnet will make the first version of the Protocol more sustainable in the middle term while allowing users to receive their earned rewards. Test feedback can be submitted here.