Looking to get involved in the WhalerRoom Research community for the long-term? Read all about the peer-to-peer member loyalty game below.
If you’re looking to be an active long-term member of the WhaleRoom community, you can become an official member by entering the community loyalty game. To do this, you must convert your WHL social tokens into WHLC membership tokens via the loyalty game smart contract.
Keep reading to learn more.
WHL/WHLC, a 2-Token System
This loyalty staking game has been coded to interface with the WHL token (erc-20) that makes use of a two token system for members to participate directly with one another over the course of their active participation in the WhaleRoom community. Below we explain how WHL differs from WHLC tokens.
Although the explanation is somewhat technical, the result of this approach is to create a means of incentivizing members, room hosts, creators and businesses of all types to participate in community building by flipping the usual model of subscription-based membership structures.
To drive an amazing experience and loyalty-derived benefits between Whaleroom members, a smart contract system has been set up in which WHL social tokens are staked with one another via a peer-to-peer system to that helps them unlock membership access benefits within the WhaleRoom community.
This P2P staking system is fully automated, immutable, and operates autonomously via a smart contract hosted on the Ethereum network – See here. The staking platform itself is a dapp hosted on https://production.d20ucfaa06wl0v.amplifyapp.com/ and made available on club.whaleroom.org by anyone.
As fans of decentralization, WhaleRoom was built around this ideal. The loyalty staking game is a novel type of member signaling that is enshrined in on-chain code that cannot be change and is a great way to see who the most dedicated members of the community are; and this is all viewable on-chain.
It is impossible to change or alter the loyalty game system in any way, and the smart contract has been set this up so that members can be assured that they’re interacting with other WhaleRoom members at all times. The idea is to pioneer a new membership model in which community members who contribute to its growth have a way to benefit from their own participation and the participation of other members joinng, in a direct peer-to-peer way governed by blockchain technology.
WHL social tokens earn can be used between members to invite or incentivize new members, and they are interoperable with any other platform or initiative that chooses to integrate Whaleroom’s two-token system similarly, which anyone can do thanks to the permissionless nature of the Ethereum network.
Do not even consider playing the loyalty staking game unless you’ve watched this and be sure to keep reading for a complete understanding of how the peer-to-peer system works.
Joining WhaleRoom is not recommended unless you intend to be an active member of the community and participate towards posting content, inviting like-minded individuals to join, and doing so in the long-term.
P2P Loyalty Staking Game Benefits
You can collect more WHL social tokens by joining the contract to receive a pro-rata portion of the 10% P2P entry/exit and loyalty fees from users entering and leaving the staking system smart contract (i.e. growth or contraction of the loyal members).
Technical Warning for New Loyalty Game Members (Avoid this Mistake!)
If you are an engineer, you can check out the code here forked from here.
When you stake your WHL social tokens, you are automatically transferred a quantity of WHLC membership tokens to account for your portion of the P2P loyalty program pool that you have entered. Your staked WHL social tokens are converted by the smart contract to WHLC membership tokens which are then exchanged 1:1 for WHL tokens upon entering the staking program; the system works in the opposite direction for leaving the contract too (minus entry/exit P2P loyalty fees, gas fees, etc.). This is how the peer-to-peer smart contract knows how many social tokens to redistribute to each WhaleRoom member over time.
Watch this video to learn how to claim loyalty usage token rewards.
Are You Ready to become a member?
Visit club.whaleroom.org
Alternatively, the dapp is always available here:
https://production.d20ucfaa06wl0v.amplifyapp.com/
Once you become a member or user of WhaleRoom Research, you’ll also be able to gain free access to the exclusive WhaleRoom community social network by proving ownership of at least 500 WHL usage tokens or 450 WHLC membership tokens.