To all prospective applicants for Beta Test Phase 1,
The following is a detailed description of all steps involved in the upcoming Beta Test Phase 1 testing period.
This post will be geared toward those who have yet to participate in any of our tests. If you are already an Alpha member, you may wish to skip through some of these steps, as they will not be required for you.
Step 1 - Acceptance to Participate
Dr. Wu must personally approve of all participants. At this time of late March, all previous Alpha testers have been accepted, and eight new Beta testers have been accepted. A total of 28 people are now approved. The Beta test on-boarding is officially closed, but some inquiries are still being reviewed at this time on a case by case basis by Dr. Wu.
The Beta test will officially began in February. Updates will be posted on our public forum and Twitter. The testing phase itself is expected to last three months.
Please read the rest of this post carefully so you are fully informed on all of the steps involved. The official step to apply is described at the end of this post.
Step 2 - Background Questionnaire
Once your official application email is received (see end of this post for instructions), you will be sent a basic background check questionnaire. A limited amount of personal information is required, as well as additional questions. Once you answer it and reply, it will be sent to our security team and to Dr. Wu for review.
Most applicants pass our background check, but there have been exceptions to this. Background checks are completed within 24 to 48 hours. Once completed, participants are alerted via email as to the result.
Step 3 - Sign our Mission Statement, Beta Tester and NDA Agreements
Once the background check is complete and successfully passed, applicants must sign our Beta Tester Agreement and NDA, or non-disclosure agreement. These documents are provided via email, through a secure e-sign service. The documents are legally-binding. Participants must agree to all terms, and sign and date each document with their legal name.
This is the only personal information kept on file, and these documents are shared by the Beta tester and Raindrop DAO; the documents serve to protect both the Beta tester and Raindrop DAO in various legal capacities.
If accepted, a final decision will be sent to the applicant, with additional details on how the process will move forward. Some applicants may also be placed in a "waiting period" status depending on the status of those following our referral program, as they are being prioritized. All applicants are sent up-to-date communication on these matters so they are aware of their standing in the process.
Step 4 - Beta Testers Choose Their Tier & Payout Amount
Once applicants are fully accepted as approved Beta testers, the final on-boarding process begins.
Tiers are the amount of cryptocurrency each Beta tester will submit to have edited. Many cryptocurrencies are accepted, but Bitcoin, Bitcoin Cash, Litecoin and Ethereum are the most common.
All crypto submitted will be reviewed by our blockchain analysts for suitability. Most crypto is accepted, but there are exceptions to this. If the crypto is deemed not suitable, it will be returned, along with suggestions on how to obtain suitable crypto.
Suitable crypto is often obtained or bought using what are called "fiat on-ramps" such as Coinbase or Binance. These funds are considered the most safe and valuable for the purposes of the project and Quantum editing, because their sourcing appears "natural" on the blockchain. Funds acquired through scams or illegal means are rejected, and participants who submit funds such as these will likely be ejected from the project after a security review.
Each Beta tester may choose between one to three Tiers in total. Once a Tier is chosen, it can be upgraded twice during the first two months of testing and editing (there are some exceptions to this).
The following are estimates. Alpha phases used EUR (Euros) for quotes but all future phases will now use the U.S. dollar (USD). Exact figures are provided to each Beta tester via email, and updated according to cryptocurrency prices at the time of submission.
The following estimates are accurate, only small variations occur in terms of final payout (Updated as of March 29th, 2022):
Tier 1 - $1,500.00 USD - Expected edited return is $118,000.00 USD (FULL)
Tier 2 - $2,500.00 USD - Expected edited return is $325,000.00 USD (FULL)
Tier 3 - $5,000.00 USD - Expected edited return is $658,000.00 USD (FULL)
Tier 4 - $7,500.00 USD - Expected edited return is $1,115,000.00 USD (FULL)
Tier 5 - $10,000.00 USD - Expected edited return is $2,125,000.00 USD (FULL)
Tier 6 - $15,000.00 USD - Expected edited return is $3,580,000 USD
Tier 7 - $20,000.00 USD - Expected edited return is $5,590,000.00 USD
Tier 8 - $25,000.00 USD - Expected edited return is $7,980,000.00 USD
Tier 9 - $30,000.00 USD - Expected edited return is $11.7 Million USD (FULL)
Tier 10 - $50,000.00 USD - Expected edited return is $33.7 Million USD
Tier 11 - $75,000.00 USD - Expected edited return is $77.4 Million USD (FULL)
Tier 12 - $100,000.00 USD - Expected edited return is $167.1 Million USD
Tier 13 - $150,000.00 USD - Expected edited return is $282.4 Million USD (increased by 15%)
Tier 14 - $250,000.00 USD - Expected edited return is $640.3 Million USD (increased by 15%)
Tier 15 - $500,000.00 USD - Expected edited return is $1.175 Billion USD (FULL)
Tiers may be adjusted, open and closed periodically during the testing cycle, based on the needs of Dr. Wu and his team. If too many of one Tier level is chosen by our Beta testers, they will be crossed out above and noted as "FULL". As participants of our Alpha test phases already received large payouts, the higher Tiers are expected to be filled quickly.
Payout return is, generally speaking, exponential, due to the nature of the blockchain, how Quantum editing works, and how the value of the total supply vs circulating supply is calculated versus fiat currency. If the price of cryptocurrency rises during a testing phase, the total payouts may decrease; if the price of cryptocurrency deceases during a testing phase, the payouts may increase. Dr. Wu exercises extreme care in these edits, so as not to disrupt the blockchain or overall pricing of each cryptocurrency. (More details on this process are revealed in the Beta Tester Agreement and Private FAQ, see below.)
Dr. Wu requires a wide variation of submitted cryptocurrency to ensure the edits remain undetected. Smaller amounts are just as important as larger amounts. All submissions will use variable and odd amounts, for example, "$1,500" will range from $1,400 to $1,600 in amounts such as "$1,456.59" and exact crypto amounts may be asked of each Beta tester at the time of submission, such as 0.005827 Bitcoin. This is to ensure randomized variations in the amounts submitted. The final edits will also reflect somewhat randomized amounts in the same fashion, but will closely adhere to the Tier payout estimates above. Adjustments at time of editing will adhere to the USD value indicated above, to ensure payout accuracy. Once payouts are finalized, they are then subject to market price changes.
Step 5 - The Editing Period
The Beta test editing period will begin February 16th. The edits will begin in a staggered fashion, starting over a period of five weeks. The edits will also end in a staggered fashion, with the final edit occurring at approximately the three to four-month mark. The staggered periods are necessary to ensure randomization occurs on the blockchain. If all edits were made at once, for example, this would be extremely noticeable to blockchain watchdog groups and law enforcement, and it would draw unwanted attention to our project. In addition, the editing period is necessary for slow, careful monitoring of the edits being done, and updates and adjustments to the process. As such, these are called "beta" and "alpha" tests, as they are part of an on-going process of improvement and refinement.
Beta testers will be given monthly updates on the status of their wallets and the project as a whole via our forum.
Step 6 - New Participant Trial Period
This is the period of time between acceptance as a new Beta tester and the final payout period. It usually lasts between three to four months. During this time, new Beta testers will not have access to our private forums. A final security review will be conducted before the payout (see below), to ensure each new participant followed all rules and security procedures. Once this review is successfully completed (2 to 5 business days), the Beta tester will receive a certification, their payout, and they will receive priority for all new Beta and Public tests in the future. Additional terms related to this are included in the Beta Tester Agreement.
So far, all of our previous Alpha testers passed their trial period without issue and received their payouts.
Step 7 - Payouts
Payouts will occur once each Beta tester's wallet is finished being edited. A "cool off" period and blockchain analysis review of between three and five days will then occur. Once this is finished, the funds will be sent to the Beta tester, to a wallet or wallets they specify.
Due to the extremely large fund distributions, a great deal of help is provided by the Raindrop DAO in how the Beta tester should use the funds. Additional stipulations of fund usage is defined in the Beta Tester Agreement.
All participants are allowed to use a maximum of 35% of funds for personal use. For example, if you choose Tier 7, you may use $1.95 Million USD for personal use. Extreme care is required in the dispersal and spending of funds. For example, participants cannot send friends and family members large sums of money, as this would lead to serious security breaches, a violation of the NDA and other issues. Raindrop DAO provides careful steps, anonymization procedures, fiat banking resources and spending advice at this stage.
The additional funds, 65% of the Tier payout in total, shall be used to fulfill the mission statement. Detailed steps are provided by Raindrop DAO as to how these funds should be spent to fulfill the mission statement; tax and legal advice is also provided at this stage. The Beta testing phase will involve far more stringent and strict requirements for the dispersal of these funds than previous Alpha phases; these details are disclosed to Beta testers during the on-boarding process.
Step 8 - Payout Responsibility
This is the most important part of the the Raindrop DAO project. Through past test phases - Alpha Phase 1 & 2 - our Team has learned a great deal about security risks, human psychology and how funds need to be handled when payouts occur.
We have discovered a "euphoric" psychological phenomena occurs, in which the Tester receives such an incredibly large sum of money they begin to act irrationally and emotionally. This stage lasts from a few days to a few weeks. We have employed steps and measures to ensure our Testers are mentally prepared for the payout outcome, and the requirements they agreed to in the Agreements they signed.
We want our Testers to enjoy their profits, but strict procedures have been put in place to protect the Testers themselves, and the project itself. Poor management of funds could lead to catastrophic consequences, which are carefully explained, in detail, in the Beta Tester Agreement. All participants are given the help and resources to proceed with their payouts in the spirit of fulfilling the mission statement.
Begin The Process
If you wish to proceed with the above process, please write to
admin@raindropdao.org with an email title of, "Official application." You may provide a personal note in the email, but no additional information is required.
This will act as an informal, non-binding acceptance of the above terms. You will then receive a response from us along with your background check questionnaire within 24 hours.
You must successfully pass our background check, sign our agreements and finalize your Tier(s) to be fully accepted as a Beta tester; until all of these steps are completed, you are not accepted.
A queue will be formed based on first priority for previous Alpha testers, our referral program participants, and finally, individuals new to our project who wish to join.
Once 25 to 30 participants are fully accepted, the on-boarding process will close. Once closed, any additional applications will be reviewed on a case by case basis by Dr. Wu. All applications that are not accepted or that are submitted after the closing deadline may remain on a waiting list for the next beta test.
Additional, private FAQ
At this stage, all prospective applicants may request a private FAQ (Frequently Asked Questions) document from the Help Desk. Please write to
helpdesk@raindropdao.org with the email title, "Private FAQ." This document goes into more detail than our public FAQ available on Medium.
Email & Forum Resources
All matters and questions relating to your application should be sent to
admin@raindropdao.org
All matters and questions about the Beta test should be sent to
betatest@raindropdao.org
All support and technical questions should be sent to
helpdesk@raindropdao.org
Our Team Leader, John Ye, can be reached at
johnye@raindropdao.org
You may post questions or comments in our public forum as well.
IMPORTANT: To ensure email deliverability, check your spam folder often, and also add all of Raindrop DAO's emails to your "white list" or contacts within your email program. Participants whose email reliability poses an on-going problem will receive help from our Help Desk. If it cannot be resolved, those participants will be ejected from the Beta test. Email reliability is an extremely important part of being a participant. We recommend all Beta testers use Protonmail or Tutanota as their primary email. Eventually, encrypted communication will be required, but only at the payout stage.
- Raindrop DAO Admin
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