To Celebrate, PINK kicks off the New Year with a Digital Arts / Meme Contest worth over 100k PINK in prizes
That’s right you heard clearly. Nearly half of the PINK network’s active staking community is utilizing the most altruistic technology known to crypto: Side-Staking. If you missed all the Side-Staking hype have no fear; it’s the simple and beautiful concept of donating your staking rewards automatically to 1, 10, or even 100 other PINK wallets of choice, all free of transaction fees. Every donation is voluntary and simplified for even first-day crypto users to easily fine tune their staked rewards to share with others. Utilizing Side-Staking features, any PINK wallet holder can donate an adjustable percentage of their staked returns to their entire family, friends, or even a noble stranger.
Courtesy of the legendary wizard of the ages, the honorable pink-town hero, Astrych, several key PINK network statistics have been mapped out for the Pink Community to explore and enjoy. Below, the total percentage of staked returns which contain blocks with Side-Stake transactions has been charted out. Pinkcoin has currently surpassed 40% of staked blocks containing donations for other PINK users, and is currently making a run to surpass 50%, a new all time record! Bears bring out the cares in these parts.
As you may remember, last fall came the debut of the much anticipated FPoS 2.0 update, which aimed to free up more PoS rewards for moderate wallet holders while cutting back on the computing power necessary for larger staking balances. To accomplish this, FPoS 2.0 requires 100k PINK coin blocks to participate; rewards are 50% larger as well as more frequently rewarded during FPoS hours. To offset the imbalance, FPoS 2.0 is only active for 4 hours each day. Below is a chart which compares the average PoS difficulty with the average FPoS 2.0 difficulty. The results show that a heavy influx of husky PINK users have begun solely targeting FPoS 2.0 stakes; difficulty has increased steadily over the past 100 days, and continues to climb. The more that coin blocks on the network are combined into 100k chunks to target FPoS 2.0 rewards, the more the overall coin weight that had been competing with sub-100k balances is reset, allowing more opportunities for PoS rewards to be earned by moderate holders. As demonstrated by the chart below, PoS difficulty has continued to lower over the past 100 days, steadily freeing up more PoS rewards exclusively for moderate PINK wallets.
Zooming out all the way, using the chart below, we can see that although the average difficulty of FPoS has increased since the FPoS 2.0 update in Oct ’18, the average FPoS difficulty since it’s debut in April ’17 has been significantly reduced. For huskier wallet balances, FPoS 2.0 is freeing up a magnitude of computing power that is now no longer necessary.
Even more cool statistics and charts can be found by visiting the wizards lab on GitHub. Huge shout-out to Astrych for making these statistics easy to read and readily available for the Pink Community!
Put your thinking caps on and keep your seatbelts strapped, to bring in the New Year and celebrate the success of Side-Staking and Flash-Stake 2.0, Pinkcoin will be rocking out a second signature Meme / Digital Arts Contest, and dishing up over 100k PINK in prizes. Official details and more prizes will be announced in 7 days to kick off the start of festivities.
General Breakdown to Pre-Game Ahead of the Contest’s Official Launch:
- Submissions should be Digital Art: (memes, gifs, videos, music, graphic design ect)
- Submissions should be related to: ( Pinkcoin, Pinkcoin’s Features–Side-Staking–Flash-Staking 2.0, Headlamp, Twitter Bot, Pink Ethos, Past Donation Drives Campaigns, the Pink Community, Pink Core-Team Members, Pinkcoin Partners, ect )
- Submissions must be tagged “$PINK, #Pinkcoin” on Twitter (so get a Twitter account if you don’t have one already)
- Submissions will be voted on by the Pinkcoin Core-Team after one month.
- 1 Grand Prize Winner will be selected, as well as 4 Runner-ups
- Multiple submissions are welcome
- Grand Prize will begin at 100k PINK
- Additional prizes, prize pool donation addresses, and more competitions will be announced when the contest officially begins next week