What is Voilk Reward Pool?

in voilk •  3 days ago

    Hi Friends

    In this post, we are going to learn about, the Reward pool. The voilk blockchain mints a new block every 3 seconds, which generates, new 0.501 VOILK coins.

    unlike Bitcoin, voilk pays only 15% of the block reward to the miner, remaining 85% of the block reward is added to a reward pool. Which we call The Community's Reward Pool. You can follow this link, to see how much funds, the pool has at this very moment.
    Visit this link: https://voilk.com/calculator

    Voilk puts 85% of the block reward into this reward pool, okay!, but where does it go from here?

    My friends, you, with your likes distribute this reward, that's correct with just a click of your mouse, on the like button of a post, you direct some rewards from this pool, to that post.

    How much rewards can I direct?

    That depends upon several factors

    1. How much Power you have in your wallet. (You have to stake some VOILKs in your wallet, which increases your like's worth)
    2. How much is your Like's strength. (whenever you like a post, your strength goes down by roughly 2%, which regenerates over time.)
    3. How much funds the reward pool has (More funds the pool has, more valuable your like becomes, the pool, keeps on growing and falling, because addition and removal of funds from it)

    So your like's worth can fluctuate, depending upon all of these factors.

    When you like a post, you don't only direct rewards to the post but also 25% of it, to yourself, as a curation reward.

    75% of your like's worth is directed to the post
    25% of your like's worth is directed towards yourself.

    Post rewards, can be paid either in POWER or in VOILKs & POWER
    Curation rewards, are only paid in POWER

    A post can start receiving likes, from the moment it was published, for the next 7 days

    on the seventh day, however many VOILKs it collected, can be claimed from the user's wallet.
    either on olympus, or social, or voilkapp
    => A button will appear, in your wallet and you have to click it to claim the rewards
    => That's it, that's how the reward pool works, you can also use the same calculator page, to estimate your own like's worth, total worth and how much you get as curation reward, when you like a post.

    You need to login to your account, before you can estimate your like's worth. use posting key, and your username to login.
    Visit this link: https://voilk.com/calculator

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