Major Updates to the Wicrypt Staking Requirement: Providing Even More Value to Our Community.
After a lot of consideration and upon taking into account the best way to serve our community, we have decided to make a strategic change to the Wicrypt staking requirement. Please see the updated Wicrypt staking requirement.
Effective immediately, Wicrypt staking will no longer be done in USD but in $WNT (with a fixed amount of $WNT). This strategic shift reflects our commitment to fostering a more unified and robust ecosystem as we expand to other regions like China while providing greater benefits to our valued community members.
Why Are We Doing This?
Aiming for a Balanced Utility and Stability of the $WNT token
One of the major reasons driving this update is to strike a balance in the utility of our native token, $WNT. Users’ staked values are based on the actual amount of staked $WNT, not the dollar value. This adjustment will help create a more balanced supply and demand scenario for the token. Which will improve stability and benefit all token holders. It also means that users don’t need to worry about topping up their staking because the dollar value dropped.
Benefits for Wicrypt Users
While this change represents a significant shift, it also brings many compelling benefits for all users.
Stabilized Mining Competition:
With the staking requirement based on the amount of staked $WNT, users no longer have to worry about staking top-up or adjustments based on USDT-WNT value as staking will now be fixed based on a particular amount of$WNT. Users who wish can still top up their staking to increase their staking score and mine more $WNT.
Embracing Increased $WNT Demand:
As staking is a fundamental prerequisite for mining, the demand for $WNT is poised to surge especially as we expand into other regions like China. This heightened demand would be beneficial for all stakeholders in the Wicrypt ecosystem.
Click here for the new staking requirement to mine $WNT on the Wicrypt Network.
Embracing a New Era with Wicrypt
This update underscores our commitment to advancing the Wicrypt ecosystem, creating a stronger, more dynamic environment well-poised for growth and innovation. By evolving our staking requirements, we’re paving the way for a more balanced and prosperous network that resonates with our community’s dedication. As we grow and build a more diverse community, it’s very relevant to peg all activities in the Wicrypt ecosystem to our native token, the Wicrypt Network Token ($WNT), instead of a fiat native currency like the dollar.
Join us in embracing this pivotal change and collectively propelling the Wicrypt ecosystem to unprecedented heights. Together, we’re crafting a future empowered by a commitment to global decentralised internet access.
