Token Circulation
Circulation through AI Competitions
Data Scientists can obtain BGR tokens in the following ways:
By participating in community activities (including through airdrops), as discussed as part of the “Utility” section;
Purchasing BGR in the open market; or
Achieving a top placement in some of the AI competitions (hosted by Infrastructure Providers).
For AI competitions, bitgrit will coordinate with Infrastructure Providers that host these competitions, to facilitate any required smart contract interactions with BGR for the Network's purpose. For example, in order to enter a competition, each data scientist wishing to participate would be required to stake a fixed amount of BGR tokens. The total BGR required to enter a competition will vary, depending on factors such as the time commitment and complexity, as well as the value of the prize pool on offer. The BGR staked for participation will be stored by way of a bitgrit smart contract for the duration of the competition.
After the competition has been concluded and the ranking of each participating data scientist has been finalised (in line with the predetermined rules of the competition set by the Infrastructure Provider):
BGR will be issued from the Infrastructure Provider to the top winners of the AI competition;
the BGR stake per participant will be returned to the Data Scientists; and
A portion of the unreturned BGR will be returned to the community participation reserve pool, and the remaining unreturned BGR will be burned.
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