Hello, 2021!
Happy new year dear Hunters! We wish you a fruitful year with lots of gains and staking rewards!
Leaving 2020 behind, even though we all had to cope with the sudden change in our lifestyle, all in all we consider it was a good year for us and our delegators. It was the year we launched our service, and thanks to your unbelievable support, we have reached the #1 spot in Switcheo Tradehub’s validator delegations.
We want to thank you all for your support and involvement in the growth of our project, therefore we are delighted to unveil some details about our upcoming events:
1. BlockHunters Tribute | $BHT
Abstract: BHT token is the way we’ve chosen to show our gratitude for your extended support. As we mentioned in the initial announcement, the token will be initially used to give a part of our commission back to our faithful delegators.
Reward model: 0.77 BHT for each block we validate together distributed equally amongst our delegators for the respective block.
Total supply: 100,000,000 BHT (estimated)
Eligibility: All BlockHunters delegators are eligible for $BHT distribution.
Distribution: Q1 2021
2. Switcheo validator fee
The fee of BlockHunters was set to 0.77% since the starting days of the Switcheo Tradehub. We are happy to be the top ranked validator, with almost 17% of the total votes but we also want to make sure the network is fully decentralized and secure.
This being said, starting from 1st of February our fee will increase each month by 0.17% until our commission will be set at 1.77% .
The subsequent monthly increases will be postponed up until 1st September 2021 if our delegated share is stable below 20%.
We consider a share of total SWTH staked that is above 20% could pose a threat to the safety of the network, thus we have previously taken the risk to withhold any announcement regarding our $BHT token, but the moment has come for us to go forward with our plans.
3. SWTH tribute distribution
As we mentioned previously, 40% of our received commission in SWTH token will be distributed to all our voters. First distribution — Q4 2020 — will commence on 15th of January followed by other 3 distributions happening each quarter of 2021.
Total Commission for Q4 2020: 213405 SWTH
Hunters’ tribute: 85362 SWTH
Development funds: 42681 SWTH
4. Development funds allocation
Going forward, the remaining 20% of our earned commission will be allocated for development of tools for Switcheo Tradehub.
The first tool, an “explorer” which our hunters could use so you can check how many rewards and $BHT tokens will be received based on your staking address, will be available in the coming days on https://switcheo.tools.
More details about our second tool, https://switchfolio.app, designed to help you manage and improve your decentralized portfolio will be unveiled in a future article!
Keep hunting!
Website: https://blockhunters.org/
Telegram: https://t.me/blockhuntersOrg
Switcheo: https://switcheo.org/validator/swthvaloper1fdqkq5gc5x8h6a0j9hamc30stlvea6zlsh4y7s
