Thread by @JeffTezos5

Hi everyone, today's testnet is about @KYVENetwork, which launched its #Testnet in May and will end in June. The team will #airdrop 2% of the supply to reward eligible participants. We'll see how to be eligible in the testnet presentation, but first :

What is Kyve ?

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@KYVENetwork KYVE is a data storage and availability service that aims to create a flexible environment to classify and archive data in a decentralized and incentivized way. KYVE's solution will allow dApps and blockchains to store their data, while being able to access it at any time.

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@KYVENetwork Data storage in the cryptocurrency sector is a major issue as it's becoming increasingly heavy over time. Two recent examples of this problem :
- #ETH and EIP4444 : eips.ethereum.org/EIPS/eip-4444

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@KYVENetwork - Solana : Here's a quote from Kyve's CEO in the @LeJournalDuCoin interview, " With the growing use of Solana, it's getting more and more expensive to store a lot of data. So to stay profitable, nodes are starting to delete old data and

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@KYVENetwork @LeJournalDuCoin only a small number of nodes actually contain all the original data from the #Sol blockchain."

KYVE appears to be an ideal solution for these blockchains since it allows blockchains to remain scalable without being held back by the weight of the information they contain.

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@KYVENetwork @LeJournalDuCoin Let's see how Kyve manages to do this :

KYVE's archiving solution relies entirely on #arweave, which is a decentralized data storage service. KYVE will simply operate as a bridge between the dApps/Blockchains and @ArweaveTeam.

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@KYVENetwork @LeJournalDuCoin @ArweaveTeam The purpose of KYVE is simply to verify that the data sent between dApps/Blockchains and Arweave is valid and reliable.

Layer 1 (see schema) represents a blockchain that wants to store data. To do so, it will create a storage pool on KYVE (by funding the pool via $KYVE).

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@KYVENetwork @LeJournalDuCoin @ArweaveTeam Each pool will contain :
- An Uploader node which will upload the data validated by the nodes to store it on Arweave
- Validator nodes that check the data reliability

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@KYVENetwork @LeJournalDuCoin @ArweaveTeam Layer 2, which is KYVE Network, will act as a bridge between layers 1 and 3. This layer will transmit the data and check if it is correct.

Layer 3, Arweave, will store and archive the data.

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@KYVENetwork @LeJournalDuCoin @ArweaveTeam To succeed in its mission, Kyve has surrounded itself with renowned investors like #Coinbase and the foundations behind the biggest blockchains:
- blog.kyve.network/announcing-our…
- blog.kyve.network/announcing-our…

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@KYVENetwork @LeJournalDuCoin @ArweaveTeam The team is very quali, I let you check by yourself, they are doxxed and you can see their Linkedin here : kyve.network/team

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@KYVENetwork @LeJournalDuCoin @ArweaveTeam In terms of tokenomics, $KYVE will be a utility token that will be used for :
- Governance
- Pool financing
- Staking
- Delegation

(kyve.network/tokenomics)

There will be 1 billion tokens distributed in the following way and with the following launch scheme :

12/26

@KYVENetwork @LeJournalDuCoin @ArweaveTeam Finally, for the roadmap, we are currently at the #incentive #Testnet level.

Mentioning testnet, let's see what it offers !

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@KYVENetwork @LeJournalDuCoin @ArweaveTeam As said in the introduction, the testnet will reward eligible users with 2% of the total supply as follows:
- Pool A rewards the top 5,000 participants, with 5M $KYVE.
- Pool B rewards the top 10,000, also with a total of 5M $KYVE.

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@KYVENetwork @LeJournalDuCoin @ArweaveTeam - Validator nodes (by being in the top 50 of one of the pools) and being in the top 2,500 or 5,000 leaderboard will receive 10m KYVE.

More info: blog.kyve.network/kyve-launches-…

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@KYVENetwork @LeJournalDuCoin @ArweaveTeam To climb the Leaderboard, you will have to perform a multitude of tasks. Don't be afraid of 280k participants, most of them are double accounts with the sole purpose of claiming KYVE to set up a validator node. In my opinion, it is easy to be in the top 5000. Let's see how

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@KYVENetwork @LeJournalDuCoin @ArweaveTeam The first category of activities, called community tasks, allows to collect points on a daily basis (see screen).

To claim on twitter, go to the Faucet tab, click on "Share on Twitter" in (1), then copy/paste the link of your Tweet.

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@KYVENetwork @LeJournalDuCoin @ArweaveTeam The last two tasks (Claim on Discord and Korelia Wheel) are also done on the Faucet tab :
- Discord, you have to copy the formula (2) and paste it on Kyve's Discord (channel #Faucet) every 24 hours
- Korelia Wheel, you just have to click on "Spin the wheel" (3) every 24h

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@KYVENetwork @LeJournalDuCoin @ArweaveTeam The second category of activities consists of creating content on KYVE via 4 types of creation :

- Meme (there are multitudes of websites to create them easily) 150 pts/meme
- Writing content (presentation of the project, how it works...) 500 pts/content

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@KYVENetwork @LeJournalDuCoin @ArweaveTeam - Video tutorial, on how the interface and the testnet works for example, 1500 pts/video
- Video explaining the protocol 1500 pts/video

You can do it in the language you want. Be careful, always put a trace of your Keplr address in your content !

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@KYVENetwork @LeJournalDuCoin @ArweaveTeam The last category which is the most technical but still feasible, requires some use of the application :
- Voting in governance will earn 10 points per vote. Just go to the 'Governance' tab and wait for a new proposal to appear to vote.

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@KYVENetwork @LeJournalDuCoin @ArweaveTeam To delegate, simply go to the 'Pools' tab, choose a pool, click on 'Delegation' and choose a validator to delegate KYVE to by clicking on 'Become a delegator’.

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@KYVENetwork @LeJournalDuCoin @ArweaveTeam Funding a pool earns 5 points per funding (with a maximum of 50 points). To fund a pool, simply go to the 'Pools' tab, choose a pool, then go to 'Funders' and 'Become a funder'.

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@KYVENetwork @LeJournalDuCoin @ArweaveTeam The other three tasks (Pool staking, create bundle, validate bundlers) require to set up a validator node, to do so you need to collect enough Kyve to be in the top 50 of one of the pools. This is very very difficult, I didn't do it personally (due to lack of means).

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@KYVENetwork @LeJournalDuCoin @ArweaveTeam Personally I advise you to try this testnet. Even if it requires some work, the tasks are not really hard for most of them and allow to enter the top 5000 quite easily. This will allow you to have an airdrop normally consistent!

I hope this presentation will help you !

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@KYVENetwork @LeJournalDuCoin @ArweaveTeam Useful links not mentioned in this thread:
My complete Medium article in French : medium.com/@CryptoTestnet…
Site : kyve.network
Medium : medium.com/@kyve
Telegram : t.me/kyvenet

I'll see you soon !

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