🔱 Whaleshares Hard Fork 1 Announcement

3 months ago

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Whaleshares.io is Ready for Launch!

We are happy to announce the final update needed to ready the Whaleshares platform for main launch was completed at 00:00:01 UTC August 30, 2018.

This update, known as a Hard Fork, required a majority consensus of the active witnesses to update their nodes to the current version 0.2.5 of blockchain code. We had a unanimous and quick update from all of the active witnesses and currently have 24 of 26 witnesses running up-to-date at the time of this post.

📝 Here are the items addressed in this update:


  • Content Reward Term Extended to 14 Days (up from 7 days)
    Your posts will now have an additional 7 days to be promoted, noticed by others, and earn rewards. This feature was announced earlier in the WhalePaper and gives content providers an increased opportunity to earn rewards for things like original art, music, tutorials and writings that are intended to be shared well beyond the standard 7 day period.

  • MANA Use Rate for Rewarding set at 2%
    This update moves us away from the lower % setting we had running during TestNet and establishes the standard 2% per 100% reward for posts and comments. MANA recharges at a rate or 20% per day which means you can give ten(10) 100% rewards in a 24 hour period if you want to maintain a steady MANA level.

  • 3X MANA Equivalent for Self-Rewarding Comments
    This update reduces the reward power when applied to your own comments and is meant to help reduce abuse of the rewards pool long-term. Given a 100% reward to your own comments will result in only 1/3 (33%) of the reward value being applied. For example: If your 100% reward value is 3 WLS on a post, it will only result in a 1 WLS reward if applied to your own comment, however your MANA will reduce by the full 2%.

  • Rewards Pool Unlocked
    The computational method to release the rewards pool funds has been updated. Users will now see a gradual, but steady, increase in the rewards they are able to give and receive for the content shared.


📝 Previously Released Changes

The updates in HF1 work together with the previous changes to the content and rewarding functions to create a more balanced system that is geared towards the long-term growth and stability of the platform.

  • 🔄 SHARING IS REWARDING
    Whaleshares is uniquely different in that sharing content and rewarding content are synonymous. On Whaleshares, it's about sharing and rewarding the content you love. Each time you click the new Whaleshare button you will be rewarding the post and sharing it on your feed for others to see. Final updates to the Blog Feeds will release soon.

  • NO DELEGATION
    While delegation may have a few benefits when used responsibly, the downsides and long-term damage it causes to the balance of a rewards-based platform far out-weigh the good. Voting collusion, bid bots, voting rings, sock-puppet accounts, flag wars, and other negative behavior are encouraged by delegation. For these reasons, there will be no delegation of WHALESTAKE.

  • 🚩 FLAGGING COSTS 3X MORE THAN REWARDING
    We have all seen the damage that comes from unnecessary and unjustified flagging of content due to personal disputes, power trips and egos. In order to curb that kind of abusive behavior and set a more civilized tone on Whaleshares where flagging is only done when absolutely necessary (to stop spam or plagiarism), flagging content will require a 3x MANA equivalent of a standard reward, just like self-rewarding comments. For example: If your 100% reward value is 3 WLS on a post, a flag will only result in a 1 WLS penalty against the flagged content, however your MANA will reduce by the full 2%.

  • 📈 ADJUSTED POWER DOWN ALGORITHM
    In order to create a stable, long-term economy that encourages users to build their WHALESTAKE to back community support WhaleTokens, a dynamic power down algorithm that slowly evolves over time will be used. Based on the inflation rate reduction schedule, power downs will release more liquid WLS the longer the platform has been in operation. Max Powerdown = 100% - Current Inflation Rate The inflation rate reduction schedule can be found in the official WhalePaper.

  • POWER DOWN TEMPORARILY DISABLED
    As planned, the power down function will not become active until October 1, 2018. This helps give the platform time to grow its user base and more fairly distribute early WHALESTAKE to more people before allowing value to leave the platform. This will help create a more stable economy for the platform and WLS token value moving forward.

This is just the beginning...

Over the next couple of months, the Whaleshares development team will roll out several major updates that will revolutionize the way cryptocurrency-based content platforms operate and change the way you think of social media websites forever. After that, it's up to you, the users, to decide the future of the Whaleshares platform.


UPCOMING DATES:

Full Launch

Saturday, September 1, 2018
The Whaleshares platform will open for normal use with a few more editions to the basic functionality of the site. After the sharedrop period is over (September 15th) you will no longer need WHALESHARE tokens to create accounts , and anyone is free to sign up. Power Down will not be active at this time.

Sharedrop Claim Period Ends

Saturday, September 15, 2018
The time to claim your sharedrop ends. No claims will be accepted after this date.

Power Down Activated

Monday, October 1, 2018
The Power Down function will be activated allowing users to convert vested "WHALESTAKE" into liquid WLS that can be transferred to the Bitshares DEX. At this time @RuDEX has announced that their Gateway is complete and will be opened at this time to transfer WLS in/out of Whaleshares to the DEX.




The door is always open,
come join us anytime!



Stay tuned for official announcements in the coming days and weeks.
https://discord.gg/3pqBXKY

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Whaleshares will gonna be huge.. Just can't wait it to happen.. =)

Looking forward to the launch!

I was wondering if there's going to be any initiatives like steem cleaners on whaleshares?

This is good to hear. Well done to the developing team.

Very cool, looking forwards to the new changes - keep up the great work everyone! :)

3X MANA Equivalent for Self-Rewarding Comments

Does that include self-rewarding posts, or solely comments within an existing post?

Wowoowowowowowowo great information we all waiting for .......GRATEST WHALESHARIAN !!!!!! GREAT!!!!!!! GOOD JOB TO THE TEAM BEHIND THIS

⌚..... The dream is about to be achieved, this new updates are cool especially the extended reward dates.

@whaleshares woop your doing some great job for the community, respect

Good information, this is very useful. Thanks @whaleshares

This explains a lot... I like the differences here this is gonna be pretty cool!

Hola, vengo de la comunidad latina siguiendo este proyecto desde hace meses. Y AMO Whaleshares y lo que viene.

Tengo una duda sobre el apagado, ¿para convertir whalestake por wls, podremos hacerlo en pocas cantidades? ¿o tiene que ser todo el whalestake? Deseo que pueda ser solo un poquito hehehe.

Atenta a su respuesta.


Hi, I'm from the Latino community following this project for months. And I LOVE Whaleshares and everything that's coming.

I have a question about turning off. To convert whalestake by wls, can we do it in small quantities? or does it have to be all whalestake? I wish it could be just a little hehehehe.

I'll keep an eye on your answer.

This just keeps getting more and more exciting!

Can you explain the BTS to WLS airdrop ratio?