$DESK: Your Questions Answered

CoinDesk is soft-launching its own digital token, called $DESK, ahead of Consensus 2021. Here’s everything you need to know and how to get involved.

More people own cryptocurrency than ever before. For bitcoin alone, wallet addresses are up 27% since the start of the year, according to Glassnode. The obvious catalyst for this rise in market participants is the current bull market, which continues to draw worldwide attention and push digital asset prices to new heights.

The surge of interest in digital assets has also introduced CoinDesk to a vast new audience, with the site’s unique visitors for 2021 up 633% compared to the first three months of last year.

Read more: Introducing $DESK, CoinDesk’s New Rewards Program

The financial world is evolving fast, and CoinDesk is eager to keep pace with this change. That’s why we’re excited to launch $DESK as an integral part of this modernization.

What is $DESK?

$DESK is a CoinDesk-issued token created in collaboration with Unifty. It’s hosted on Rinkeby, an Ethereum-based testnet for trialing new software.

As an ERC-20 token, $DESK is built on top of the Ethereum blockchain. That means it will be compatible with Ethereum’s broader ecosystem, including wallets and decentralized applications, once the token is fully live.

$DESK is launching in beta at Consensus 2021. During this phase, the token will provide rewards for conference attendees as they attend and participate in various events. All transactions are completely gas-free – meaning they won’t have a service fee (in $DESK or otherwise) – to make using $DESK as easy as clicking a button.

Read more: What is the ERC-20 Ethereum Token Standard?

The Torus Wallet, a frictionless digital asset wallet provider, will support the storage and redemption of $DESK during the beta launch. This is a non-custodial service, meaning $DESK holders will have complete control over their own tokens once they receive or earn them.

CoinDesk created $DESK as a tool to help build community, not as a monetary asset. Unlike traditional securities or mainstream cryptocurrencies like bitcoin, $DESK is not intended to have any monetary value, and it cannot be traded on a secondary market for other digital assets or exchanged for fiat currency.

How do I get $DESK?

Receiving $DESK couldn’t be easier. Simply follow these two steps before the event and start accruing tokens:

• Head over to coindesk.com/desk (the Torus wallet is already built into the platform, so there’s no need to download anything).
• Enter the unique code emailed to you from CoinDesk to connect to Torus. For Gmail users, please check your "Promotions" folder if you cannot find the email doesn't in your inbox.

Note: $DESK is currently open to Consensus 2020 and 2021 attendees. If you have trouble, contact [email protected].

You can earn $DESK tokens by completing a variety of tasks during Consensus 2021 and through engagement with the CoinDesk platform, including:

• Pre-Consensus sign-up
• Registering attendance to Consensus 2021
• Participation in Unlocked 101 (the educational sessions held prior to Consensus)
• Attending virtual sessions
• Virtual world networking

For attendees of last year’s Consensus event, CoinDesk sent a claim code for 500 $DESK on May 18 to the email you used to register, in appreciation of your continued support.

What can I redeem $DESK for?

$DESK holders will be able to take part in live auctions to bid for crypto-focused experiences as well as redeem tokens for a range of exclusive Consensus NFTs (see below).

$DESK Rewards

• Virtual trading card NFTs
• Physical CoinDesk swag
• Virtual meetings with VIPs
• Sponsor swag
• First access to new products from partners

Other FAQs

How many tokens will be minted?

For the beta, CoinDesk will control the issuance of new $DESK tokens. There is no fixed amount, so $DESK should not be held in anticipation of scarcity.

Will my $DESK balance disappear after Consensus 2021 ends?

No. $DESK tokens are yours to hold, spend or send after Consensus 2021. CoinDesk will host more experiences to engage with our events and digital platform in the future.

What are the future plans for $DESK?

We’re going to walk before we run. This is the first event we’re doing with $DESK, and we’re primarily focused on giving conference attendees the best experience possible. But we’re excited about the possibilities of $DESK beyond Consensus. Stay tuned!

Will $DESK ever have a monetary value?

Like airplane miles, $DESK will always be worth a fixed amount.

If I don’t attend Consensus 2021, will I still be able to earn $DESK?

Yes. If you attended Consensus 2020, you’ll get a link to log into your wallet and claim a small amount of $DESK to get started. The real perks, however, are inside Consensus 2021.

Can I stake my tokens?

No. There is no current mechanism to stake $DESK. As the liquidity is controlled by CoinDesk, there wouldn’t be a reason to stake it.