c
This initiative, tied to the cryptocurrency ecosystem, offers a unique opportunity for participants to engage with the $ROAM token before its official launch.
The Pilot “Burning” Pools are designed for three user groups: General, Miner, and Sticker pools. The General pool is open to all users who can convert Roam Points earned from app activities. The Miner pool is reserved for Roam miner owners who can convert points from mining activities and device registrations. The Sticker pool is for users who collect Roam stickers through activities such as Wi-Fi node validation, with higher rarity stickers providing more Roam Points.
The pool operates in cycles lasting between 10 and 1,000 seconds. Users can lock in a minimum of 500 Roam Points and participate in up to 1,000 cycles. Once points are locked, they cannot be retrieved early. The conversion rate varies depending on the total points submitted and the tokens allocated for each cycle.
Participants should be aware that points must remain locked for 48 hours before conversion, and the process is irreversible. After the Token Generation Event, users will receive their $ROAM token distribution based on their participation.
The initiative allows Roam users to engage with the platform while preparing for the TGE, making the “burning” process familiar and accessible. It also encourages participants to strategically choose the right cycles to maximize their token rewards. This pilot phase is an important step for Roam as it builds momentum ahead of its TGE.
Meanwhile, in another development, U.S.-based Osprey Funds plans to convert its Bitcoin Trust (OBTC) into an exchange-traded fund (ETF) following the collapse of its acquisition deal with Bitwise. The firm announced its intent to file a Form S-1 with the U.S. Securities and Exchange Commission to initiate the conversion. Launched in February 2021, OBTC offers a cost-effective way to gain Bitcoin exposure, with a management fee of just 0.49%, and had previously planned a deal for Bitwise to acquire its assets.
If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
