Token Redemption System

This document describes the token redemption system for PromoTrackerBot, which allows community members to redeem verification tokens earned through promotional activities for actual community tokens.

Overview

The token redemption system allows promoters to convert their earned verification tokens into actual community tokens. Each community can configure its own redemption rules, including:

• Minimum token threshold required for redemption
• Reward ratio (how many community tokens per verification token)
• Cooldown period between redemptions
• Whether redemption is enabled or disabled

For Promoters

How to Redeem Tokens

1. Use the /redeem command in your community's Telegram group.
2. The bot will check if you're eligible to redeem tokens.
3. If eligible, provide your Solana wallet address where you want to receive the tokens.
4. Confirm the redemption details.
5. Your request will be submitted and pending admin approval.

Other Commands

• /status <redemption_id> - Check the status of a specific redemption request
• /myredemptions - List all your redemption requests
• /redemptionrules - View the token redemption rules for your community

Eligibility Requirements

To be eligible for redemption, you must meet the following criteria:

1. Have the minimum number of verification tokens required by the community
2. Not be in the cooldown period from a previous redemption
3. The community must have token redemption enabled
4. The community must have a wallet with sufficient funds

For Community Admins

Setting Up Token Redemption

Community admins can configure token redemption through the web dashboard:

1. Enable/disable token redemption
2. Set the minimum token threshold
3. Set the reward ratio
4. Set the cooldown period
5. Provide a token swap URL (optional)

Managing Redemption Requests

1. Use the /pending command in your community's Telegram group to see pending requests
2. Visit the web dashboard to approve or reject requests
3. When approving a request, provide the transaction hash as proof
4. When rejecting a request, provide a reason for the rejection

About Verification Tokens

Verification tokens are rewards for your promotional activities. They can be redeemed for actual community tokens.

Redemption Process Overview

1. You request to redeem your tokens
2. The system verifies you have enough tokens to redeem
3. Community admins review your request
4. If approved, you receive community tokens in your wallet
5. If rejected, your verification tokens are returned to your balance

Important Notes

• All redemption requests are reviewed for security
• Only community admins can approve or reject redemption requests
• Wallet addresses are validated before accepting redemption requests
• Telegram usernames and community affiliations are verified

Token Distribution

Here's how tokens get distributed:

• Each community manages their own token distribution
• Community admins ensure there are enough tokens for rewards
• Regular updates keep the reward system running smoothly
• All transactions are carefully tracked for security

Reward Ratio

The reward ratio determines how many community tokens a promoter receives per verification token. For example, with a reward ratio of 100:

• 1 verification token = 100 community tokens
• 10 verification tokens = 1,000 community tokens
• 500 verification tokens = 50,000 community tokens

Future Enhancements

• Automatic token distribution without admin approval for trusted promoters
• Multi-token support for communities with multiple tokens
• Enhanced analytics for tracking token distribution and promotional effectiveness