Rewards

IQ Olympiad Compensation Scheme

IQ Olympiad users are divided into three main types:

i) Test creators

ii) Test curators

iii) Test takers.

Rewards obtained through activities (creation, curation, and solving IQ tests) on the IQ Olympiad platform are distributed in points. Obtained points can be exchanged for IQ Olympiad tokens.

Point distribution is an automatic process executed by smart contracts on the blockchain. Users can decide when to convert points into tokens at their will.

Engagement-based Rewards

Test Creator Rewards

Test creators receive a reward when their test is completed by a test taker. The reward they receive is directly proportional to the number of test-takers that complete their tests. Additionally, extra rewards will be given based on the number of "likes" their tests get.

Test Taker Rewards

Test takers must pay a fee to take a test and receive points for test completion. An evaluation of the quality of the test is required to receive the results of a test. Points are distributed as rewards upon the completion of the evaluation. Points assigned to each test may vary depending on the type of test, the time in which the test is taken, and the type of advertisement that is exposed during the test. The specific amount of points to be rewarded is announced before the test begins.

IQ Test Curation Rewards

Curation rewards are distributed to curators who review, select, and classify tests and organize them for other users. Similar to the Test Creator rewarding mechanism, curators receive compensation directly proportional to the number of test-takers that complete the tests that they curate. Extra rewards are distributed based on the ratings of the curated tests.

IQ Olympiad Sponsorship and Donation Rewards

IQ Olympiad participants can select the grand prize and sponsor or donate points and tokens they receive. If you specify a target to donate from the IQ Olympiad platform, subsequently user-acquired reward points are paid to that target. Those who are registered on the IQ Olympiad platform as donation recipients can be rewarded with an additional percentage of points for every donation they receive.

IQ Olympiad Reward Algorithm

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