Whaleshares Logo

Rewarding Others with Tips

whalesharesPosted for Friends to comment on, 4 years ago4 min read

image.png

With the successful deployment of Version 4 came some big changes to the user experience. To help guide you through these changes we have put together a series of posts that will explain in detail how each of the features works.

If you missed the first post about Interests, you can find it here.

In this update we will explain the new reward system using Tips.

Rewarding Reimagined

The Content Reward Pool, a carry-over from the original codebase, has been evolved out of the rewarding economics of the platform and replaced with a direct Tipping System. This new feature does away with the daily restrictions on rewarding power that were previously limited by MANA.

You now have a new “personal reward pool” called Tip Balance, that is used to hold WLS funds set aside for Tipping Users and Content.

image.png

Tips can be given on Posts, Comments, and even directly to Users from their profile page. The Tip is always coming from your Tip Balance. This means, before being able to Tip, you will have to fill that Tip Balance with some WLS.

The easiest way to do this is by claiming (all or part of) your Daily Vesting Reward to your Tip Balance. Your Daily Vesting Reward is earned each day based on the amount of ‘staked’ WLS (Whaletake) you hold in your account and can be divided up and claimed however you want, as long as it is done within the current claim cycle time. Each day a new cycle begins and unclaimed rewards from the previous day are forfeited and can no longer be claimed.

image.png

Keep in mind WLS in the Tip Balance can only be used for tips, or be sent to your own account as claimable WHALESTAKE. Although the Tip Balance uses WLS as unit, you can not convert it to liquid WLS.

The other way to fill your Tip Balance is by sending liquid WLS to your Tip Balance. To do this you will have to go to the Wallet App.

image.png

Once your Tip Balance holds WLS, you can tip, a post, or comment by clicking the tip icon, or an account by using the Tip link on the account banner.



Tipping is instant! After you confirm the amount, the Tip is immediately added to the claimable Whalestake amount of the account you just tipped.

Important! Be careful with the Tip slider, it selects a percentage of your total Tip Balance as you move it from left to right. Old habits die hard. If you were accustomed to sliding it all the way to the right to select 100%, you could now accidentally Tip someone your total Tip Balance. Double-check the Tip amount before you click confirm.

Your Tip Balance never expires. In case you want some of that WLS returned to your own account (as claimable Whalestake), you can Power Up in the Wallet App, or just Tip yourself from your own profile page.

image.png



This technical diagram shows native currency flows and claim options of the economic model behind the platform.

All rewards, including Tips, are still claimed as Whalestake. You can only move currency in/out of the platform with liquid WLS. Powering down your Whalestake to liquid WLS can be done from the Wallet App.



We hope you find the new Tipping system to be a more fair process for rewarding valuable contributors in the community.

Thank you for being a part of our journey!

Connect with us on Discord.
https://discord.gg/3pqBXKY

Sign Up to join this conversation, or to start a topic of your own.
Your opinion is celebrated and welcomed, not banned or censored!