This grant to Everstake is to run a trial of a quest-style campaign on their Telegram mini-app – Spell Wallet.
The campaign is designed to encourage users to stake ATOM, educating them about the process of staking ATOM, how it helps to secure the Cosmos Hub and its Consumer Chains, and how staking ATOM helps users qualify for airdrops.
Spell Wallet is a Telegram mini-app developed by Everstake, which attracted 4.3 million users within just 4 months of its launch. This is a captive audience that we believe the Cosmos Hub should try to directly engage.
The campaign will incentivize users of Spell Wallet to stake at least 0.9 ATOM to receive 0.1 ATOM as a reward – so that they have 1 ATOM staked in total. Using our grant, Everstake will purchase approximately 1,135 ATOM (@ $4.40/ATOM) to use as incentives in this campaign, thereby potentially having a further 10,350 ATOM staked on the network as a result of this campaign – a 9x ROI for the AADAO.
This project is a trial for this campaign style, running alongside our ATOM 5K Quests, which also encourages staking ATOM in return for points (among other quests).
This campaign is set to run for 4 weeks, between Nov-Dec 2024. Everstake is not charging AADAO or the Cosmos Hub any fees for running this campaign. Everstake is not charging AADAO or the Cosmos Hub any fees for running this campaign.
Previously, the team received another grant from the Atom Accelerator, to develop Spelldrop – the ATOM airdrop explorer.
Update: ATOM Trial Staking Grant Cancellation, statement from the Everstake Team
The grant awarded to Everstake for ATOM Trial Staking was intended to support the integration of ATOM staking into the Spell Wallet Telegram Mini App (TMA), introducing ATOM to a global audience. By January 2025, our team had already integrated ATOM into Spell Wallet and was actively working on adding staking functionality alongside a dedicated marketing campaign.However, new requirements from the Telegram Foundation made it impossible to proceed. As of February 1, all TMAs were required to remove all blockchain integrations—except for TON—or risk being blocked.To continue developing a top-tier multi-chain crypto wallet, we are now exploring migration to a web-based version, which requires additional time and resources. Given this unexpected development, we realized we could not deliver ATOM Trial Staking within the original grant agreement’s timeframe.While we remain committed to supporting ATOM in the future, our immediate priority is completing the migration. To ensure transparency and fairness, we have returned the 5,000 USDC grant amount to AADAO. That said, once the migration is complete, we will certainly consider integrating ATOM into Spell Wallet, leveraging our growing community of over 8 million users. Find the refund transaction here.
