Based on feedback from the community, we are implementing changes to the way that Rewards are claimed and distributed – we believe this to be in the best interest of stakeholders of hi and the long-term growth of our token and platform.
In the initial phase, your Rewards HI earned by answering the Question of the Day or through referrals, unlock 1 year after you earn them.
Sounds great, right? But in reality it could mean that you risk:
- The amount of your rewards decreasing dramatically, due to a low number of downstream KYCs
- The value of your rewards dumping or even worse being worth nothing at all, due to a mass withdrawal and sell-off when rewards unlock
- Missing out on the opportunity to earn more from your downstream via refer and earn bonuses when they purchase HI (which they will all need to in order to unlock their own rewards).
Rewards Claiming & Unlock
As of 1 March 2022, here is how the updated rewards claiming and distribution will work.
To claim and unlock rewards, members will need to:
- On a rolling 7 day period, they must refer at least one friend to join hi.
- Within 14 days of joining, they must complete KYC.
- Within 30 days of joining, they must deposit crypto or buy HI worth at least 25 USD.
All HI that are claimed through daily rewards are only unlockable on a monthly basis if the commensurate amount of HI is staked. Rewards that are still locked after 1 year from the date of claiming will be burned. The daily rewards program will last until the entire “Launch Incentives and Distributions” pool is exhausted.
5 Reasons Why This Is Better For You:
So in fact, under the new proposal:
- Your rewards will unlock earlier than originally planned
- The value of your rewards will be higher, via mechanisms to prevent withdrawal and sell off
- The sum of your rewards will be larger, as more of your downstream will KYC and unlock their own rewards
- You can earn additional rewards, via bonuses when your downstreams buy HI
- … what’s more, we will also announce a fixed maximum supply of HI, so you should feel motivated as one of the absolute earliest investors.
A Final Note
As we progress through the stages of decentralisation as outlined in our updated whitepaper and transition into a true Web 3.0 organisation, the ongoing success of our community relies on the active participation of our community.
Together, let’s take hi to the Next Level