What is Tea Protocol? Instructions for joining Incentivized testnet

1. What is Tea Protocol?

Tea Protocol is a protocol that grants rights and benefits to developers through rewarding contributions to OSS (Open Source System) open source software. To make it easier to understand, developers can connect their OSS open source projects to the Tea Protocol platform, which will evaluate and rank based on the developer's contributions in that software. and from there as the basis for awarding rewards.

Tea's mission is to create a more resilient and sustainable open source software ecosystem. By leveraging the Tea Protocol, developers can connect Web2 and web3 open source projects and unlock the open-source economy.

This allows developers to capture the value they create and receive fair incentives for their contributions. This also provides standards that projects can rely on to reward developer work. Additionally, this will enable investors to easily access, evaluate and invest in OSS projects based on standardized metrics.

2. TEA's mechanism of action

Once a developer's project is registered, it becomes visible in the TEA community, attracting potential backers, collaborators, and users. Developers can also track a project's usage and impact, which can help earn rewards based on its value, and receive vulnerability reports from other members of the TEA community . Registering your project on the protocol demonstrates the developer's commitment to the sustainability and integrity of OSS.

2.1. TeaRank

Projects registered on Tea Protocol will be ranked based on teaRank, which measures the project's usage or dependency in the open source ecosystem. A project's TeaRank is calculated using the Proof of Contribution algorithm, which evaluates the project's impact on the entire open source software ecosystem.

Based on the registered developer project's TeaRank, the protocol will determine the number of rewards to be distributed daily. Higher TeaRank, through more (reputable) open source software, will result in more rewards.

However, earning rewards is not limited to TeaRank. Projects can also earn rewards from community members who stake TEA into the project. When community members Stake $TEA into the project, this demonstrates community support for the project while also empowering the project by distributing a portion of the community Stake rewards into the project fund staked.

• Only projects above a certain TeaRank threshold are eligible for rewards, setting a threshold for rewards serves two main purposes:
• Ensure that TeaRank rewards are distributed fairly among OSS projects that have a significant impact on the ecosystem.
  Prevent Spammers by blocking a large number of projects with very low TeaRank, which drain large amounts of TeaRank rewards away from projects with high contributions. For example, 100,000 low TeaRank projects each receiving 1 $TEA would result in 100,000 $TEA being taken away from high contributing projects.

The threshold for receiving TeaRank rewards is currently set at 25/100. That is, for a project to receive TeaRank rewards, the TeaRank score must be equal to or greater than 25, a parameter that can be adjusted through teaDAO's governance process.

2.2. Proof of Contribution (proof of contribution)

Proof of Contribution is a new consensus mechanism developed by Tea to continuously evaluate and score every OSS project across managers based on its impact and value in the OSS ecosystem . Tea's algorithm is inspired by Google PageRank with the aim of accurately quantifying the impact of each OSS project over time by modeling open source software as a graph.

The Proof of Contribution algorithm will help provide key criteria for Tea Protocol including:

• Quantify the impact of an OSS project based on project direction and software ecosystem usage over time.
• Assign each project a dynamic score, which will be the score for ranking on TeaRank.
• Distribute $TEA rewards to registered projects according to that project's TeaRank.

To ensure fairness, Proof of Contribution uses various inputs and anti-spam mechanisms to accurately measure the impact of registered projects. TeaRank scoring will be considered by the algorithm based on aspects such as:

• Project impact: use proxy-based number of dependent projects
• Project impact over time: using age

The package managers that Tea protocol will support in V1 are:

• crates
• npm
• pkgx
• homebrew
• pypi
• apt-get
• rubygems

3. Tokenomics

Tea Protocol is represented by the $TEA token which plays a role in the entire Tea Protocol ecosystem including:

• Gas Fee: $TEA will be used as the main fee in Tea Protocol activities including claiming rewards and transferring $TEA to other users.
• Used in staking and donation for OSS projects
• Allocate rewards based on TeaRank
• Limited Access: Project must hold and stake $TEA to create its own DAO treasury and earn rewards from the protocol. After setting up treasury, the project needs to continue staking $TEA to continue receiving rewards given by the protocol based on the Proof of Contribution consensus mechanism. To continue receiving rewards as they increase, the project must proportionally increase the amount of $TEA staked.
• Participate in Staking: this activity serves the dual purpose of encouraging security researchers to report vulnerabilities responsibly and motivating project maintainers to quickly resolve reported vulnerabilities .
• Governance: By staking $TEA, users also receive rewards for staked $TEA or $stTEA which helps users participate in Tea Protocol governance. Using their $stTEA, users can propose and vote on non-financially important parameter changes to the protocol.
• OSS Project Security : Users can privately report bugs or vulnerabilities to the OSS project maintainer. To do this, users must Stake $TEA along with the report, if the bug or security vulnerability in the report is fixed within a certain period of time, the reported user will receive a reward from TEA. If not remedied promptly, the project's Staked $TEAs and package supporters will be penalized (cut) and a portion of this penalty will be given to the reporting user.

Basic information about $TEA Token:

Total supply: 10,000,000,000
Standard: Updating…
Network: Updating….

Token allocation and distribution rate:

51.4% - Ecosystem & Governance
18.6% - Protocol development
12.7% - Early supporters & advisors
3.2% - Liquidity Provision
11% - Private Sale
3% - Public Sale

Tea Protocol will conduct TGE (expected Q2 2024) with approximately 19% of $TEA supply unlocked. Of the tokens circulating at TGE, nearly 1/2 of the tokens will be allocated to the DAO and will be used for governance.

Approximately 33% of the initial circulating supply will be used to facilitate the protocol's mainnet launch, including: public sale and token allocation to support market liquidity.

The remaining tokens will be distributed as protocol incentives and airdrops to network participants including OSS projects and community members. Once the mainnet is live, $TEA will begin distribution to OSS projects integrating within the protocol, as well as individuals and those interacting with the network.

4. Project development team

The project is led by Max Howell, known for creating Homebrew, also known as “brew,” the most contributed open source software program globally. Homebrew is already used by tens of millions of developers worldwide and serves as the backbone for the most famous technology corporations to build their products without directly contributing to its development.

5. Partners and investors

The project received an investment of $8m led by Binance Labs, in addition to the participation of other partners such as: XBTO Humla Ventures, Lattice Capital, DARMA Capital, Coral DeFi, Woodstock, Rocktree, SVK Crypto and MAKE Group

6. Instructions for participating in the project's Incentivezed Testnet

Currently, the project is launching the Incentivezed Testnet program for developers and users, you can participate by following these steps:

Step 1: Access the project website.
Step 2: Log in to your account using Gmail or discord

Step 3: Select "Connect GitHub Account" -> confirm connection with GitHub account -> "Complete Registration".

Step 4: Set up a username on Tea. Select "I want to usa a different username" if you want to use a different name than your GitHub account.

Step 5: Select "tea Testnet" and perform the tasks below.

Within the next 6 days there will be a new event that you should pay attention to participate in.

7. Conclusion

Tea Protocol is a protocol that grants rights and benefits to developers through rewarding contributions to OSS (Open Source System) open source software. This is a fairly new project in the market aimed directly at developers. In addition, the project will also provide opportunities to raise funds from the early stages of project development from Tea's own community.

Not only that, users can also invest and monitor projects that they find interesting and participate in the security process of those open source projects. The project currently has an Incentive program for all users to accumulate ITN Points, which will likely be airdropped based on the number of Points after the project launches. Therefore, you should join early to accumulate more Points and not miss the opportunity to receive Airdrop.

Above is all the information about Tea Protocol. If you have any further discussions, you can join the Bigcoin Vietnam group to find better investment opportunities.

Basic information of the Tea Protocol project:

Twitter: https://twitter.com/teaprotocol
Website: https://tea.xyz/