TEERdays: A New Unit That Will Shape Incognitee

Product UpdateSeptember 10, 2024

Integritee is launching TEERdays! Let your TEER tokens work for you and accumulate TEERdays for the Incognitee launch. The earlier you bond your TEER, the more profits you will able to get from Incognitee once it’s live. Keep reading and find out how to participate!

Incognitee: Integritee’s Solution for Secure & Private Transactions

Incognitee emerges as a promising solution, offering enhanced privacy and convenience. From anonymous transfer to anonymous voting, our solution aims to empower users with control over their digital footprint. Private transactions obfuscate the details of transactions, including the amount and parties involved. This ensures that while integrity is still given, all details remain confidential.

Integritee’s private sidechain model represents a significant leap forward in the quest for enhanced scalability and privacy in digital transactions. By combining the transparency of a public ledger with the privacy of TEEs, Integritee offers a unique solution. As industries continue to embrace blockchain technology, the adoption of innovative models like Integritee’s private sidechain will play a pivotal role in shaping the future of private transactions. Check out more information here.

TEERdays: Profiting from Privacy

What do TEERdays have to do with Incognitee? In the future, our privacy-enabling sidechain will be operated by multiple validators, who will, in turn, share the revenue generated by the solution itself.

This revenue share will be determined by the amount of TEERdays assigned to Incognitee. Although not everyone has the expertise to be a validator, all TEER holders can become nominators — they will be nominating their TEERdays to a validator to also be able to participate in the revenue share of Incognitee.

TEERdays as a unit will be calculated on top of the bonded TEER to determine the final share.

What are TEERdays?

TEERdays determine and reward the most loyal TEER holders who get in the race first. We designed a mechanism where the ones who bond their TEER tokens earlier, get more rewards in the future. TEERdays are a unit that can be accumulated by TEER holders now by bonding their TEER for the imminent launch of Incognitee.

The TEERdays are calculated by multiplying the amount of TEER by the number of days locked. Example:

1 TEER locked over 7 days would result in 7 TEERdays.
20 TEER locked over 10 days would result in 200 TEERdays.

Your accumulated TEERdays will be used as a unit to determine your future revenue share of Incognitee. Let’s say Incognitee generates 100,000 USD a day. If the total number of all TEERdays is 100,000 and you accumulated 1,000 TEERdays, your eligible revenue share would be 100,000 USD x 1,000 TEERdays / 100,000 Total TEERdays = 1’000 USD. Your share would be 1’000 USD.

Validator operators can additionally charge a commission from nominators, which will be a fraction of the nominated amounts for their efforts to operate hardware and contribute to the solution’s decentralization, security, and availability.

However, TEERdays isn’t just about determining your revenue share — it’s also about including our loyal community in the Incognitee governance system, which means that all the TEERdays participants will have a say in what happens within the project. Your TEERdays will be applied to the revenue share, but also to your governance voting power for important things regarding Incognitee. Using TEERdays for governance will also increase the security of Incognitee because it adds inertia to the electorate. A (potentially hostile) takeover by some whale jumping into the game at a later stage is much harder because money alone won’t buy TEERdays. Committed time is factored in as well, which gives weight to loyalty.

Important details

You can unbond your TEER within seven days (at a pro-rata) loss of a % of accumulated TEERdays if you partially unlock bonded funds ( e.g. 30% unbond will result in a 30% loss of TEERdays). If you unbound all your TEER, you will lose 100 % of your TEERdays).
During the unlock period, you’re not accumulating TEERdays.
TEERdays are non-transferable

Left: Example of how TEERdays accumulate and diminish based on bonding and unbonding TEER over time. Right: Bonding your TEER locks them and makes them non-transferrable. When you unlock, you’ll need to wait for 7 days before you can withdraw your TEER and make it transferrable again

Why participate and collect TEERdays?

TEERdays are the best way to both contribute and earn rewards on Incognitee. Participating in this will allow you to be part of our network, and to have a say in important matters related to Integritee’s privacy sidechain.

TEERdays can be used to increase your revenue share for the launch of Incognitee on Polkadot/Kusama and will also increase your governance voting power for future decisions related to Incognitee.

How to participate

Go to the Incognitee TEERday page and follow the steps:

First, you need to possess some TEER. Grab them at one of the avenues like Kraken, Gate or Basilisk
Download one of the supported wallets like Nova, Talisman, Subwallet, or PolkadotJs and connect your wallet
Transfer TEER to your wallet
Bond your TEER here.
Start automatically collecting TEERdays

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About Integritee

Integritee is the most scalable, privacy-enabling network with a Parachain on Kusama and Polkadot. Our SDK solution combines the security and trust of Polkadot, the scalability of second-layer Sidechains, and the confidentiality of Trusted Execution Environments (TEE), special-purpose hardware based on Intel Software Guard Extensions (SGX) technology inside which computations run securely, confidentially, and verifiably.