Ethereum Goes Live on Klink
Since our Beta launch in April, Klink’s early users have been racking up Hodler rewards in popular stablecoins (USDC, USDT, DAI), until today.
Stables have been a solid foundation for onboarding our early adopters and fine-tuning our platform mechanics without token volatility. Now, after a few months of user feedback and platform development, we’re delighted to unveil a series of major token pools over the coming weeks starting with ETH, giving our users abundant opportunities to earn in major crypto assets.
So what does this mean
- Klink users can now hold and win Ethereum on the platform daily, with prize draws and payouts operating 365 days of the year, similar to how our existing stablecoin token prize draws function.
- Today, by holding as little as 0.013 ETH, users can win daily profits on the token, ranging up to 53.55 ETH (at the time of writing, 1 ETH = $1,867.26). The prize payout amounts will vary based on the token’s price movements (which I explain in more detail below).
- Following the successful launch of Ethereum, our platform will continue to introduce significant yield-generating opportunities across a multitude of token pools over the coming weeks and months.
How does Ethereum differ from the existing stablecoin tokens on the platform?
- Dynamic Platform Mechanics: As one of the top-performing assets globally in recent years, Ethereum has experienced its fair share of price volatility and market fluctuations.
To address this, our draw’s game mechanics are designed to optimize around the real-time price movements of volatile tokens throughout the day. This approach operates in the following ways:
A. Ticket values fluctuate with the price of the token
With ticket values connected to the token price, users obtain free draw tickets for every $25 worth of ETH held on the app (mirroring our stablecoin draws).
As a result, the balance of user tickets fluctuates throughout the day. It’s important to note that the ticket balance is only really relevant at the exact time when we run the daily draw at 3:30 PM CEST and the current volume of tickets at that time perform.
B. Prize payouts matrix fluctuates with the price of the token
Similar to ticket values, our prize payout matrix aligns with the real-time price of tokens throughout the day, and again its relevance is solely tied to the moment the daily draw is executed.
For instance, our current top prize for each token pool is $100K. In that case, if a user wins our top prize, they will receive precisely that amount of ETH, calculated based on the token’s live price at the exact time the daily draw is executed. The subsequent lower prize payouts also follow the live price movements in this manner.
C. Klink is building towards being a full portfolio management platform
As per our early user’s requests, we seek to accommodate a multi-token future whereby high-utility tokens can be held, won and grown on our platform in a way that is easy, intuitive and data-driven and our upcoming UI/UX upgrades will introduce a wealth of intuitive and data-driven features to make this a seamless and exciting experience.
2. Extended Treasury Strategy: In a recent Medium article titled “Klink Money Machine,” Philip discusses how prize payouts are generated for stablecoin pools and future volatile tokens. For ETH and a range of upcoming tokens, collective Proof of Stake pools will generate the prize yield. I welcome all readers to check out the article for further insights.
3. Unstaking (Withdraw) Times: As we incorporate PoS methods to power prize pools, it’s important to note that instant withdrawal or fund swapping on the platform may experience delay due to unstaking periods. Withdrawal times will vary depending on the token and current network performance.
The platform will present live estimated times to users during both the deposit and withdrawal processes to users, ensuring comprehensive expected transaction time durations based on network variables.
Why we are moving in this direction
Our mission at Klink is to accelerate global crypto adoption through prize-linked services and we are eager to grow our service offering and utility for our growing user base to gain access to long-term profitability in digital assets.
We are excited with the current and forthcoming platform capabilities to drive this mission, allowing users to earn, win and grow their wealth in multiple digital assets over time.
What’s coming next
Following the successful launch of ETH, we have an exciting few weeks ahead as we introduce additional ERC-20 token pools. Users can also anticipate a significant upgrade to the platform’s UI/UX, aligning with our transition towards multi-token portfolio functionality.
We encourage you to stay tuned and reach out to our live chat on the platform to share your feedback and requests. We are committed to building around the needs of our users and value your input as we continue to build.
