Hello,
Our May discount on all Wicrypt hotspot hubs is still on; this is the best time to take advantage and own a Wicrypt hotspot hub. During the May discount period, a Lynx and a Spider device will go for $120 and $180, respectively, instead of $180 and $240.
But that’s just one reason we’re reaching out. Our commitment to continually finding innovative ways to help you grow on the Wicrypt network has led us to make some big decisions.
We are temporarily adjusting our mining staking requirement to suit the current global economic reality. A single Wicrypt device minimum staking equivalent is now $150. For multiple devices, the minimum staking equivalent increases till you get to 100 devices. At this point, it stays the same. (i.e., for 100 devices and above, the staking requirement is the exact equivalent of 100 devices).
This change will take effect from the last week of June 2023. Please note that moving forward, your staking score will still be considered more in the rewards distribution. Kindly refer to our whitepaper for more information https://whitepaper.wicrypt.com/4.-tokenomics/4.2-proof-of-stake-pos.Â
Why Did We Take This Decision?
We decided to stabilise the market performance of the $WNT token and to encourage only long-term stakeholders in the Wicrypt ecosystem. Out of over 4.4m distributed $WNT for rewards, the Wicrypt Team has repurchased about 40% of those tokens from the open market to absorb the regular dumps from community members selling every weekend after reward distribution. To ensure the balance and stability of our market given the global financial crisis and guarantee long-term growth, measures have been implemented to curb these actions. While we understand that some community members sell their $WNT because of an urgent need for fiat, we want to encourage and reward long-term community members that hold.Â
Many loyal community members have yet to sell a single $WNT that they have mined. Some own over 100 devices, and we are grateful for their support.
A structural and consistent approach is required in moments like this to ensure stability, and we are implementing that regularly. It will not be the most exciting approach, but it will lead to visible stability, especially for our long-term token and device holders.Â
We thank you all for your continued support and ask that you be patient while we implement these changes.
In other news. Did you know that beyond sharing your hotspot with friends and family around you, a lot more can be done with a Wicrypt hotspot hub?
Our devices are network-agnostic (big words, for they work with almost all internet service providers globally) and can be connected via your network provider’s SIM card or LAN cable. This means you’re not restricted from using your Wicrypt hotspot hub when travelling. You can just put it in your bag and carry it whenever you travel. If that’s not value for money, I don’t know what is.
Have a wonderful weekend.
The Wicrypt Team