What is Arm on the Coinlist and how to pump it
The popular crypto exchange Coinlist introduced in mid-September 2021 a system for awarding additional points to token holders, which was called Karma. Now Coinlist Karma is used to build a priority queue according to the user rating.
What is Coinlist Karma and why is it needed
Tokensales are held several times a month on the platform, where you can buy new tokens at a low price and profit from their sale in the future. To participate in tokensales, you need to register and verify, submit an application and get into the queue, which is formed randomly.
To advance in the queue, some users create several accounts, including for relatives and friends. The introduction of Karma on the Coinlist is a way to deal with such multiaccounts. Users with a large number of karma points get the right to advance in the queue. You can get them by being active on the platform. Their number is displayed in the Personal Account.
Karma quickly became popular among users. After 3 months, the number of users with more than 1,000 points increased by 155%, and the average Karma score increased by 80 points.
Now Karma helps the user to get into the Priority queue for the purchase of tokens. But in the future, the site administration plans to develop and improve the system of rewards for activity on the site.
Karma can be starting and weekly.
Starting karma
Starting points are awarded once, for example, for participation in stacking, trading or lending, and do not burn out in the future.
Starting points are also awarded to partners and founders of the site. They can also be obtained by users who participated in the first trades on the exchange. 500 starting points are awarded for stable participation in tokensales during the year.
Weekly karma
Such points are awarded every week for increasing activity (stacking, voting with tokens on management issues, etc.). You can get them as follows:
- participating in the auction;
- for blocking (stacking) assets.
For participating in the auction, 1% of the weekly amount is converted into Karma points. The accrual of points for stacking occurs as follows:
Every Monday, users are credited 1.2% of the weekly volume of blocked assets in the form of Karma points. These points are valid for 18 weeks, then they are canceled. There is also a restriction on Coinlist: you can earn no more than 60 points per week for staking.
The maximum number of points is awarded for staking coins in an amount equivalent to $ 5,000. It should be borne in mind that points are awarded for staking not any cryptocurrencies, but only Nucypher, Casper, Flow, Rose coins.
Example
Let’s assume that the user participated in a $1,000 auction during the week and gave $500 worth of tokens to staking. He will be awarded 10 Karma points for bidding, and 6 points for staking. The total result for the week will be 16 points.
If you give coins worth more than $ 5,000 to the betting, the maximum possible number of points will be awarded – 60.
What is a Priority Queue on Coinlist
With a certain number of Karma points, users get into the Priority Queue, which exists in parallel with the main (general), but moves much faster. You can get into the priority queue only by invitation sent to the email address.
The priority queue moves much faster than the main one, although it does not give a 100% guarantee of getting into the tokensale.
How to pump karma on a Coinlist
After entering the points, users are increasingly asking how to get karma and increase its value. On some forums, there are even offers to buy a Coinlist account with karma. Points are awarded for stacking and trading on the Coinlist, as well as the conversion of some types of tokens.
It should be borne in mind that not all transactions are taken into account when calculating Karma points. For example, transactions with bitcoin are not taken into account.
To increase (pumping) Karma needs to be traded on the stock exchange every week, stake the necessary types of coins and periodically participate in tokensales. Points are also awarded for voting tokens in exchange projects.
The administration of the site claims that the number of types of operations, thanks to which the karma of the Coinlist is pumped, will soon be increased.
Published: 8 February, 2022
