INTRODUCTION TO WLS.SOCIAL REWARDS SYSTEM

How Earning Works on Most Platforms

The numbers involved are:

  • the size of the reward pool
  • the total amount of rewards
  • your amount of stacked tokens
  • the percentage of your voting power
  • the percentage of your vote
  • the moment of voting
  • total number of votes and their amount at payout time

What you earn from curating others or yourself, doesn't depend just on your vote value, but also on when you vote (time passed since the post was published) and who else votes, and how things are at the time of payout. Payout happens x days after publishing.

What you earn from posting, doesn't depend just on how much and when people reward your post with a vote but also on whether or not people use their power to downvote your post and how things are at payout time. Payout happens x days after publishing.

In principle, when you are not active, no posting, no curation, you don't earn.

When you are active, your earnings depend on a lot of factors you have no control over.

How Earning Works On Whaleshares

The numbers involved are:

  • the size of the reward pool
  • the total amount of stacked tokens
  • your amount of stacked tokenstokens

You don't earn from curating. You can however earn without curating.

What you earn from posting, only depends on the tips you receive. Tips are instantly available to you. No one can decrease your received tips by downvoting.

In principle, when you do nothing, no posting, no tipping, you can still earn from your daily reward.

Example

In a simple form, the base for your voting value/daily reward is calculated by:

your stake / total stake * rewardpool

Let's say that value is the same for both type of platforms, x TPC (the platform coin)

On other blockchain platforms you have to take action to actually receive rewards based on that amount. You will have to reward others, at the right moment, and pick the right posts, to maximize your returns and with that your earnings. You will receive your earnings  after x days.

Add human nature to the mix and you get self voters, voting bots, voting circles, downvoters and other trouble on the platform.

On Whaleshares, those x TPC are yours, instantly. You decide whether to add it all to your stake to increase your daily reward, or to add some of it to your Tip Balance to be able to support other users by tipping.

Users coming from other platforms initially try to copy the behavior they are used to and notice it doesn't work. With that they claim the tipping system doesn't work.

On Whaleshares, people who are more focused on investing than on connecting, don’t need to post crap just to have an entry to self vote on: they can simply claim their daily reward and be done for the day.

The Difference

When money is the incentive, people tweak the system to get the most out of it. I vote for you, you vote for me, so we can both grab as much as we can from that big invisible reward pool.

When instead, a daily reward is available to you right away, people change their ways. Now the amount to spend is visible, now there is an option to keep it to themselves, now there is no need for scenarios to maximize their earnings, now they find out who their friends are and what kind of a friend they are themselves.

Original post by @ijmmaiwitness