Dear Whalesburg Community!
Our team took some time to recalculate our token economics model in order to bring the best solution for everyone. It wasn’t easy, and we went through multiple iterations. We decided to take a slightly different approach than we had outlined in the white paper in order to not interfere with our popular referral program. So, without further adieu, this is what we’ve come up with:
No Pool Fees
Yes! Starting from 20th December 2018 we will no longer have a pool commission!
Instead we will offer a increased share price for each ascending tier. No matter the tier you are in, though, you will still be getting the most attractive profit on the market per monthly period thanks to our pool’s superior profit switching algorithm!
Why do I need WBT tokens?
Holding WBT can bring you to the next level in terms of mining profitability. You can increase your share price and thus your overall profit by holding enough tokens to upgrade to the next tier.
However, you can still mine without holding WBT and stay at the START tier. We decided to keep this tier in order to allow quick onboarding for new miners. We understand that as a new miner you might want to test the pool first without any obligations. Think of it as a test drive:)
Once you have finished your test drive and want to stay with us (we bet you will), you will likely want to get the most out of our pool and increase your profitability by moving to the next tier up.
Those who have both feet in mining and want to mine like a PRO will consider upgrading to tier 4, which in the long run, will bring a noticeable profit increase.
Here are the tiers we offer:
START - basic share price (average market price) - no token required
1 tier - basic share price + 0.5% 2 tier - basic share price + 1% 3 tier - basic share price + 1.5% 4 tier - basic share price + 2%
How many WBT do I need to qualify for each tier?
We will calculate tiers against your hashpower. The amount of WBT needed for each tier is dynamic and is calculated based on the current WBT/ETH price.
1 tier - X amount of WBT equal to 0,12 ETH/ GHs 2 tier - X amount of WBT equal 0,23 ETH/ GHs 3 tier - X amount of WBT equal 0,357 ETH/ GHs 4 tier - X amount of WBT equal 0,57 ETH/ GHs
This means if you buy WBT now and the price goes up, you might have surplus WBT on your account. In that case you would be free to either to sell your surplus WBT for a profit, or use it to upgrade to the next tier and enjoy an increased share price and thus profit. In the event of WBT price going down, you might need to top up your WBT balance or go one tier down.
Where can I buy WBT?
As of today WBT is listed on Idex
. We’re working on getting listed on other exchanges in early 2019.
In early 2019 we will develop an integration with exchanges that will include the option of buying WBT automatically (from your Whalesburg account). This means you won’t have to go to exchanges to manually buy WBT. If you enable "buy WBT automatically" in your account settings, a sufficient amount of WBT will be bought automatically using your mined ETH. You can think about it as if you mined WBT directly.
Important: WBT stays in your account and doesn't get "burned" by the platform. This means you are free to sell your WBT at any time (for instance if you would like to quit mining).
Therefore, you can not only mine with us enjoying increased profitability by holding more WBT, but you can also sell WBT and get your money back (or even multiply your original investment) should you wish to stop mining.
Basically WBT is a tool that not only brings you to the next level of profitability, but itself is a tradable token.