WhiteBIT announces the Retrodrop for WB Network Testing

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 the WB Network blockchain. The testnet launch took place in March this year, and with the mainnet release approaching, the exchange started talking about a possible retrodrop. On June 9, WhiteBIT published a message containing the code word “retrodrop”, which caused an uproar among the exchange community and the cryptocurrency community in general.

The “retrodrop” signifies the exchange’s approval for the crypto community to actively participate in the WB Network tests, allowing them to personally assess the blockchain’s potential. For this, the WhiteBIT team has allocated an undisclosed amount of WBT from the ecosystem fund. This opportunity is significant not only for the journey of the blockchain project, but also for the wider crypto community. It allows anyone 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 creating WB Soul and owning 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 and acts 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 improve the overall experience.

Holding WBT involves storing the exchange’s original token in a special balance on the exchange, which offers holders a number of benefits and bonuses. There are 11 hold levels. The higher the level, the greater the reward. In an unconventional move for retrodrops, the exchange representatives have stated their intent to honor the dedicated supporters and enthusiasts of the WhiteBIT ecosystem by introducing this specific requirement.

Testnet related tasks: The WhiteBIT team has decided not to disclose the list of these activities to ensure the 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 handed out shortly after the mainnet release. The team promises to inform 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 based on 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 offers high TPS (the number of transactions the network can process per second), low cost, a predictable block generation interval, and protection against a few 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 highly anticipated WBT Earn program.

Volodymyr Nosov, the CEO of WhiteBIT, commented on the excitement surrounding the testing and retrodrop news. He claimed, “Our goal is for the WB Network blockchain to become the product of collective community interaction, combining 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 large as blockchain. Therefore, we invite everyone to explore the potential of this future blockchain and witness the realization of our shared vision.”