Metamask Integration for Donations
Last updated
Last updated
Trading in WeatherMage requires credits that mimic a currency in real-life trading environments. We offered credits for sale at a very inexpensive price ($3 for 5000, for the smallest package) as a way to beginning building our Weather Impact Fund, and to offset our database/hosting costs.
Large issues became apparent with our payment processor. First, they charged almost 30% of the credit costs for payment processing fees, which increased even more when we had purchases from other countries. And second, the API code triggered a social engineering warning from Google. After a few failed attempts to rectify the issue (it is very difficult to fix a problem that you did not create), we decided to switch to a crypto based donation model for credits.
There still is no cost for a user to begin on the system. Each new user still receives 1000 credits when they first log in. However, in order to trade weather correctly, traders must built a diversified portfolio of risk-advantaged trades, most of which are statistical arbitrage based. Therefore it benefit the user to own additional credits for use in their practice trading.
Users can now donate $3 in BNB directly from their attached Metamask wallet when they log in, and they will still receive 5000 credits. Since Binance is still the largest crypto exchange, and used worldwide, Metamask and BNB were chosen as our first integration.
Users can get even more credits at a discount if they donate a larger amount and notify us via email attaching the transaction hash.
To further incentivise donations and active learning, only accounts that have donated are eligible to redeem credits earned through successful trading in the future for our (to be announced) crypto token.
In addition we will airdrop addition amounts of our tokens to wallets that donated. The amount of tokens airdropped will be based on the volume of credits the account has traded up until then.
Since it is our goal to develop WeatherMage in other countries as a "learn-to-earn" game, this integration with cryptocurrency at this stage makes perfect sense.
