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Token Rewards Changed, are you using them wisely?

ijmmaiwitnessPosted to Public3 months ago3 min read

With HF3, the reward system changed, and so did the use of tokens. There is a whole paragraph on it in the official announcement, but I thought it couldn't hurt to explain it in other words.

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Before HF3

All tokens more or less rewarded instantly after sending tokens (with a postlink in memo) using your BTS or EOS wallet. You could check the value of your reward on whaleshares.info. Your reward depended on the amount of Whalestake in the account of the token issuer, and on the Mana percentage of that account.

The tokens that could be used for the ccwhaletoken reward, used a slightly different system. That reward could only be used once a day per account. You didn't need to keep track of the time limit yourself, on error the tokens were refunded instantly.

After HF3

Two major things changed:

  • Token reward is related to daily reward claim of the token issuer
  • Tokens can be sent to an account directly

BTS based Tokens as Post Reward

The way BTS based tokens are sent didn't change. Their reward however did. At the moment, your reward will consist of two rewards.

One reward is the regular reward based on Whalestake and Mana and will show up as post reward on your post instantly.

The second reward is based on the daily claim reward of the token issuer account and the total number of tokens used this claim cycle. This reward will be added to your Whalestake directly when the claim cycle resets.

BTS based Tokens directly to your Whaleshares Account

The way to send a BTS based token reward directly to your Whaleshares Account doesn't differ much from sending it to a post.

When the tokens are used for a post reward, you put the postlink in the memo. When the tokens are used as direct account reward you put the account url in the memo. For me that would be https://whaleshares.io/@ijmmaiwitness

The reward differs a lot from the one you get when using it on a post. The reward for direct account reward is based on the daily claim reward of the token issuer account. This is less than using it on a post.

For example:
Today I sent 100 KrazyKoin directly to an account, and 50 KrazyKoin as post reward.

These were the reward values
100 KK to account -> 27.007 WLS
50 KK to post -> 64.473 WLS (50,79 to post + 13.503 to wallet)
These numbers differ per day

EOS based tokens

Using the token as direct account reward or as post reward, generates rewards the same way as described above. What is different about EOS based tokens is, they all use the same address to send them to. The easiest way to send EOS based tokens is to click your avatar and select WhaleTokens from the dropdown menu. A screen will popup with options for the token you want to send, the amount and the memo.

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If your EOS keys are available to WhaleVault you can send the tokens directly. Alternatively you can use Scatter to perform the transaction.


NOTE: All tokens can only be used once per account
Be aware tokens can only be used on friends or pod posts if the token issuer account is friends with the author of the post or in case of a pod post, member of that pod.


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