After years of research that culminated into the invention of what is now the world’s lightest blockchain, Mina Protocol launched the Genesis Founding Program to help with selecting up to 1,000 participants to act as Block Producers for the network.
Since the mainnet launch, the first set of Genesis Founding Members helped harden the Network. Mina considers this responsibility the highest honor for any community member. To incentivise the Genesis Founding Members, Mina Foundation set aside 6.6% of the MINA total token supply. Each GFM received 66,000 MINA tokens which must be staked for four years according to the program’s terms and conditions.
Since Mainnet launch and this publication, Mina has accepted about 662 Genesis Founding Members spanning 40 countries. Each member was chosen based on their prior activities in Mina’s testnet challenges as well as other contributions they’ve made towards Mina community growth. Also, Mina rewarded community members for contributing to Testnet with Testnet Points. Some of them were selected as Genesis Founding Members.
What do Mina Genesis Founding Members do exactly? Since Genesis Founding Members are Block Producers in the Mina network, they harness recursive zk-SNARKs and share proof of the correct blockchain state across the network. This makes states easy to update the proof as new transactions occur. As a result, Mina offers scalability to thousands of transactions per second to millions of users and years of transaction history verified without sacrificing security.
Terms and conditions to become a Mina Genesis Founding Member
In charge of coordinating the Genesis Founding Program, Mina Foundation has outlined specific terms and conditions for existing program members and new entrants. Per the document available online, here are some of the conditions that must be met to stand a chance to be considered into the program.
- Applying to participate in the program or becoming a member does not grant any rights or entitlement and expressly does not guarantee that you will receive any payment, compensation, reward or other value, including MINA tokens.
- You must be at least 18 years of age and not be prohibited from participating in the Program by any applicable law or regulation, such as not being a citizen or resident of any jurisdiction subject to sanctions as enforced by the Office of Foreign Assets Control (OFAC ).
- You must also pass KYC.
- Mina Foundation considers the following before selecting a Genesis Founding Member: being a testnet participant, creating documentation, including explanatory documents and blog posts, stress-testing the protocol, creating tooling for the protocol or applications that use the protocol, translating documentation into different languages , providing help and support to users and other participants, including creating and moderating chats, forums, social media channels and meetups, and reporting bugs and issues in the protocol. Although Mina states that testnet points may be considered, it doesn’t guarantee qualification into the Genesis Founding Program.
- All tokens distributed during the program must be vested. Failure to do that leads to automatic forfeiture of such tokens.
Check here for the complete list of the terms and conditions of applying for the Genesis Founding Program.
As pointed out earlier, Mina has a leaderboard testnet community members where you can see the ranking of the members and track their progress.
Mina Magazine is an independent publication not affiliated to Mina Foundation / O (1) Labs.
Mina Magazine is supported by Openbitlab.