Epoch 9 Stake in TApp Tokens

For new users to the TEA Mining Contest, make sure to buy COFFEE first

Congratulations for your interest in joining the TEA Project's testnet. This guide is focused on those who wish to join the contest through staking and making investments in TApps (through TApp tokens).

1. Install the Polkadot{.js} Wallet Extension

This is necessary to interact with our TEA browser wallet which you'll be using throughout the contest. The mining contest competitor checklist has a section detailing how to install the Polkadot{.js} extension.

2. Buy COFFEE

To get started with TEA project, you first need to purchase COFFEE (the bridge) using USDT on the BNB chain by following 👉 this link. 👈

This is a manual process so allow some time for the conversion.

Once the COFFEE has been sent to your wallet you will need to exchange it for TEA to interact with the platform. After exchanging for TEA, users will be able to purchase TApp tokens and generate revenue on the platform. Please note that COFFEE is only for the testnet.

3. Login and Start Interacting with the TEA Browser Wallet

You can now visit the TEA browser wallet and login to your account. The Investors tab will have pertinent information for those who want to compete through buying TApp tokens and through staking.

Those wishing to mine can click on the Miners tab in the wallet and follow the instructions in the newbie mining guide.

4. Register for the Competition Via the Leader Board

The next step is to actually register for the mining contest. From the Leader Board tab, click on the Register for competition button:

In the modal popup, fill in the following boxes:

• The first box, listed as user above, is your Polkadot wallet address. You can copy your address using the Polkadot{.js} wallet extension:

• Email address is for receiving reward receipts and contest notifications. Make sure to use a valid email address so you can be notified regarding your contest rewards.

5. Start Generating TEA Revenue Through Buying TApp Tokens

We've now setup everything and it's time to generate some contest TEA revenue so we can start moving up the leaderboard. The easiest way to start in TEA's testnet is to buy a TApp's token. Every decentralized app in our ecosystem, called a TApp, has its own token associated with it. Buying a TApp's token is just like owning stock in a TApp and gives the owner some financial benefits:

1. Each time the TApp is used by someone, a consume action is initiated. The developer gets their share, and the rest of the consume revenue is converted to TApp tokens and distributed proportionally to TApp token holders. This is considered the dividend reward for being a TApp token holder.

2. A TApp token is minted according to a bonding curve: as the supply increases, so does the price. We know that consume actions introduce a new supply of TApp tokens minted along the bonding curve. So not only will TApp token holders earn dividends, their token values will also go up at the same time.

Example of Investing in the TEA Party TApp Token

A contestant in the mining competition will increase their leaderboard position by increasing their net asset value. One way to do this is to purchase TApp tokens and enjoy both dividends and price appreciation (as long as people keep buying the TApp token). Let's see how you'd go about investing in the TEA Party's TApp token.

1. First navigate to the TApp list.

Using the TEA browser wallet, pick the TApp from the list whose tokens you want to invest in:

Note the price (in TEA) of the token's current price. The price you pay will be the buy price which will be above the sell price since tokens are issued along a bonding curve. Locate the buy button in the row of the TApp whose token you want to buy:

2. Decide how much of the TApp token you want to purchase.

You'll need to exchange TEA for the TApp tokens you want to buy. If you have a certain amount of TEA you want to spend, input it in the TEA section and click the convert back button to see how much TEA that will buy you:

Clicking the next button will initiate the transaction which you'll need to confirm in your wallet.

3. Keep track of your TApp tokens in the "My assets" section of your wallet.

You can always check the amount and current price of the TApp tokens you have by clicking the my investment in TApps tab of your assets page:

6. Keep Track of Your Position on the Leader Board

The goal of these testnet competitions is to increase the total value of your assets. As competitors increase their asset value in contest TEA, they'll have two options to cash out their winnings.

1. Contest TEA can be exchanged for mainnet CML. CML is a valuable NFT that's used as a mining license on the platform.
2. The COFFEE:USDT exchange rate will always be 1:1. Contestants can therefore exchange their contest TEA back into COFFEE to be cashed out anytime at the same rate.

The CML mainnet exchange happens every week and is announced in our Telegram group.