In preparation for the release of the WB Network mainnet, representatives of the WhiteBIT crypto exchange shared the details of a retrodrop, a reward for testing the WB Network blockchain.
WhiteBIT, one of Europe's largest crypto exchanges, has announced a retrodrop for testing WB Network blockchain. The launch of the testnet took place in March of this year, and with the approach of the mainnet release, the exchange began to talk about a possible retrodrop. On June 9, WhiteBIT published a post with the code word "retrodrop" causing a stir among the exchange community and the cryptocurrency community in general.
The "retrodrop" signifies the exchange's endorsement for the crypto community to actively engage in the WB Network testing, enabling them to personally assess the potential of the blockchain. For this purpose, the WhiteBIT team allocated an as-yet undisclosed amount of WBT from the ecosystem fund. This occasion holds significance not only for the blockchain project's journey but also for the broader crypto community. It empowers anyone with the desire to explore the network's capabilities to participate and receive rewards in the process.
Completion of three types of activities provides participation in retrodrop.
Exchange-related tasks, namely the creation of WB Soul and the holding of WhiteBIT Token (WBT). You can read the details in the article. WB Soul serves as a digital representation of a user within the WB Network blockchain, acting as a bridge between the WhiteBIT exchange and the blockchain. It is essential to note that creating a WB Soul is a mandatory requirement for participating in the retrodrop. While other activities remain optional, completing them can enhance the overall experience.
Holding WBT involves storing the exchange's native token on a special holding balance on the exchange, which provides holders with a number of advantages and bonuses. There are 11 levels of holding. The higher the level, the greater the reward. In an unconventional move for retrodrops, the exchange representatives have expressed their intention to honor the devoted supporters and enthusiasts of the WhiteBIT ecosystem by introducing this specific requirement.
Testnet-related tasks: WhiteBIT team has decided not to publicize the list of these activities to ensure transparency of the process. Users are encouraged to explore the blockchain and define their own approach to testing.
Finally, community and social media tasks on the Zealy platform.
WBT rewards will be distributed shortly after the mainnet release. The team promises to inform the users about the details in separate publications.
What are the main features of WB Network?
To ensure EVM compatibility and the ability to integrate DeFi solutions, WB Network was developed on the basis of Geth (Go-Ethereum). Proof-of-Authority (PoA) was chosen as the consensus algorithm. According to the working principle of PoA, the only validators and block generators are trusted authorized nodes. Proof-of-Authority provides a high TPS (the number of transactions that the network can process per second), low fees, a predictable block generation interval, and protection against single hacks. One of the unique features of the WB Network blockchain is its own WB Soul Ecosystem. It makes it possible to create a WB Soul — a kind of identification card of a user in the WB Network, which will bridge the blockchain and the WhiteBIT exchange. WB Soul will serve as a digital ID for users of the exchange and the WB Network, which will combine CEX with the Web3 ecosystem solutions. In addition, during a conversation with WhiteBIT representatives, it became clear that the presence of WB Soul will play an important role in the long-awaited WBT Earn program.
Volodymyr Nosov, the CEO of WhiteBIT, commented on the excitement surrounding the news of testing and retrodrop. He stated:
"Our goal is for the WB Network blockchain to be the product of collective community interaction, blending the expertise of industry leaders with the insights of users, developers, and enthusiasts. Users are best equipped to optimize the convenience and efficiency of a project as vast as blockchain. Hence, we invite everyone to explore the potential of this future blockchain and witness the realization of our shared vision."
WhiteBIT is one of the largest European centralized crypto exchanges, originally from Ukraine, founded in 2018. Today, the company has more than 1,000 specialists. The exchange offers 350+ trading pairs, 270+ assets, and 10+ state currencies. The highest average daily trading volume is more than $2.5 billion. WhiteBIT is the official crypto partner of FC Barcelona, FC Trabzonspor, and the national football team of Ukraine.