We've got 3 super exciting updates to share with you today! These include an addition of a tipping token, an increase in minimum withdrawal threshold, and a big increase in rewards!
1. ETH Integrated for Tipping.
We've just integrated another tipping token into Publish0x. From now on, you can earn Ether (ETH) on Publish0x for reading, writing, and sharing good content!
ETH will replace DAI Stablecoin as the main tipping token.
You can now earn ETH, BAT, and LRC on Publish0x.
Other tokens you can earn crypto in, besides Ether, include BasicAttentionToken - BAT, and Loopring - LRC.
Right now, the chance that a tip will be in ETH is ~47%. The chance that your tip will be in BAT is ~27%, and this is the same for LRC.
Publish0x has been home for ERC-20 tokens since its inception.
We are big Ethereum enthusiasts - and we are not alone, there are more transactions on the Ethereum network than bitcoin now, the DeFi scene is thriving, with Ethereum leading the charge.
We believe the future of finance is starting to be built on Ethereum right now and currently, there is no better token to integrate as the main tipping token at Publish0x.
I'd like to make another post explaining this further in a new "Mission Statement" for Publish0x, coming next week (hopefully!) - but in short, our initial goals were to launch Publish0x and to "seek sponsorships from tokens doing interesting things that also want exposure and audience growth".
We definitely have some of these, but a lot more that we have turned down who, to put it politely might be missing the "doing interesting things" part. In short, this path is difficult and finite.
Our new mission is INFINITE; to simply showcase, write around, and integrate good stuff exclusively without needing to seek sponsorship or aim for short term profit.
If good projects want to work with us (and we hope and think they do) then great, we can do a little more. But if not, no worries, we can just aim to be top quality, showcase genuine tech the most interesting and exciting blockchain projects which are really being used today.
If ETH replaces DAI as a tipping token, what will happen to my DAI Balance on Publish0x?
Due to high gas fees, it does not make sense to lower the withdrawal threshold for your DAI tokens. So:
- Your DAI balance will be exchanged to the corresponding value in ETH on 18th of August 2020.
- Until this date, you have time to withdraw your DAI balance if you have the minimum $1 in DAI in order to request a withdrawal.
- In case you prefer to have your DAI swapped to ETH, all you have to do is to keep your DAI in your Publish0x account until the 18th of August.
- You will be able to see the details of the exchange under "Payment History", on this page.
PS. DAI might still come back as a tipping token in the future.
2. Minimum Withdrawal Fee is Now $1 in ETH, BAT, or LRC.
When we started Publish0x at the end of 2018 and for most of 2019, the gas fees were 10x - 20x lower than these days.
Gas fees for sending tokens to your wallets, as well as the gas fees you are subjected to when transferring tokens you earn on Publish0x to your chosen DeFi / CeFi platform, are very high.
So high, that in fact, it does not make sense for us to send $0.5 value in a token to anyone. This is why the minimum withdrawal threshold is increased to $1. That means that from now on, you can ask for a withdrawal from here, once you reach the minimum threshold of $1 in ETH, BAT, or LRC.
As usual, we pay out on Mondays. You can see all of the transaction hashes of payouts we send on Etherscan here.
Where to Withdraw Your ETH, BAT, and LRC from Publish0x?
PS. Make sure to set correct wallet addresses to which you want us to send you your tokens. We send tokens to the address you had set at the time of asking for a withdrawal, so make sure you have the correct address set before you make a withdrawal request. Set your withdrawal address here.
3. Rewards Increased by 30%!
All of your tips are now bigger by 30%! This means that even though the withdrawal limit has been increased, it will be easier to reach it than it would be if tips weren't also increased.