๐ฅBurning wPoints
wPoints to $WAYRU Conversion Mechanism.
The wPoints to $WAYRU conversion mechanism is designed to incentivize user engagement by allowing them to earn and burn wPoints to receive $WAYRU tokens. Users can accumulate wPoints by participating in activities such as sharing known WiFi networks, validating existing WiFi networks, and inviting more users to join the network. This mechanism ensures that users are rewarded for their contributions, enhancing the networkโs growth and reliability.
Conversion Mechanism: At the end of each epoch, users can convert their accumulated wPoints into $WAYRU tokens.
Burning wPoints:
Conversion Rate: Users burn their wPoints to claim $WAYRU tokens from the reward pool. The conversion rate can be defined as x wPoints for y $WAYRU, and it may vary based on the total wPoints burned in that epoch.
Proportional Distribution: The $WAYRU tokens are distributed proportionally based on the number of wPoints each user burns relative to the total wPoints burned in that epoch.
Claiming $WAYRU:
Conversion Window: At the end of each epoch, users have a specific window to burn wPoints and claim their $WAYRU tokens.
Missed Conversion: If users miss the conversion window, their wPoints remain in their account and can be used in the next epoch.
Example Scenario
Reward Pool Allocation:
During an epoch, 1,000 $WAYRU is allocated to the wPoints reward pool.
Burning wPoints:
At the end of the epoch, User A burns 500 wPoints, and User B burns 300 wPoints.
The total wPoints burned in that epoch is 800.
Proportional Distribution:
User Aโs share of the reward pool: (1,000รท800) ร 500 = 625 $WAYRU
User Bโs share of the reward pool: (1,000รท800) ร 300 = 375 $WAYRU
User A and B claim their respective $WAYRU tokens after closing the wPoints burn window.
The wPoints to $WAYRU conversion mechanism rewards users for their contributions, incentivizing them to participate actively in the Wayru network. By burning wPoints at the end of each epoch, users can claim a portion of the rewards, enhancing engagement and ensuring continuous network growth and reliability.
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