FAQs

What is BlockRewards?

Block Rewards is a mining simulator i.e. It is a gamified version of real mining. You mine the token of the pool you are participating in

How does it work?

Users buy Blocks from BlockRewards using their BNB (or another token) in their metamask browser wallet. The Blocks produce daily rewards.

The rewards accumulate for 24 hours after which you can either compound them for even more Blocks (more Blocks = more Daily rewards) or you can sell them to cash out.

You can also compound multiple times during a day to compound faster

Can I get my investment back?

When you buy Blocks using BNB, the BNB gets locked into a decentralized smart contract. Since this is a locked pool contract, no one can sell their entire investment at one time. However, your rewards accrue daily and you can recover your investment over time.

Do Blocks have a dollar value?

Blocks do not have a dollar value. More Blocks equal more Rewards

What if I cash out my rewards every day?

The way the mining algorithm is designed is that you have to compound daily to keep up the dollar value of your rewards. The mining algorithm has inflation built-in that increases every day. So, if you cash out your rewards daily, your daily rewards will drop significantly and you won’t be able to recover them back easily.

Will my rewards stop after sometimes? Is this sustainable?

As long as there is money in the contract, rewards will continue to be paid out.

How are you different than Celsius and Voyager?

This is a locked pool contract. Everyone deposits their money in the contract. The rewards are then paid out of the contract. We don’t have any external obligations or tie-ins with existing crypto market (e.g. margin/leverage) other than the mining token itself (e.g. BNB token). So even if the market crashes, as long as there is money in the contract, rewards will continue being disbursed automatically.

Do Blocks decrease after you sell rewards?

No. Your blocks don’t decrease

What is the best strategy?

Best strategy is to compound multiple times a day while cashing out only once in a while. There is no right cash out strategy. Everyone can devise their own based on their risk tolerance and their funds need.

At Block Rewards, we have designed the algorithm plus strategies to incentivize people to take a long-term strategy.

Is it better to compound more than 3 times a day?

Compounding up to 3 times a day with 8 hours intervals is more than enough. You will not see sizable incremental gains if you decide to compound every hour or 30 min.

There are so many other virtual miners. What is unique about your project?

Most of the other miners do not possess an effective toolset/strategy to incentivize Buying or jumpstarting TVL after a huge correction. We have come up with new tools such as New Buyer Bonus, variable Referral %, variable JTVL fee to make that happen. For the existing miners once the TVL starts to drop, it drops like a rock with no turning back.

What is the daily ROI (Return on Investment) Potential?

Good Question.

The daily ROI on your Compounded value/TVL is approx. 3%. That is the percentage by which you get additional miners when you compound daily.

The daily ROI on your Initial Investment is anywhere from approx. 0.5% to Unlimited %. It depends on a variety of factors such as how early you get in, the total deposited amount, how fast you compound and the overall buying & selling pressure.

Since we are trying to disrupt a new virtual miner market, getting in early can potentially pay off handsomely.

Your APR is too low at 3%. It doesn’t sound attractive

For this you have to read between the lines. As mentioned above, 3% APR is on your TVL/compounded value. Your real return on investment is approx 0.5% to Unlimited Daily %. It all depends on how much net Buy pressure we get at times.

Is the smart contract immutable?

Yes, the smart contract is immutable in the sense that we cannot change code once it’s deployed. All smart contracts by default are immutable. However, we can set different variables to ensure smooth operation of the platform

What prevents the Dev from rugging?

If the Dev just wanted to rugg, then the Dev wouldn’t have spent so much time and effort on the API & UI trying to create new value.

As a matter of fact, extra security precautions will be taken on the computer that will be used to deploy or set variables.

How can I access the BlockRewards website on mobile?

On mobile, you will have to download metamask app and then use the in-built browser within the metamask app. You cannot use safari or chrome browser on your iphone to use BlockRewards.

Please turn off iCloud backup for metamask on iphone for security reasons:

You can do so by toggling here: Settings > Profile > iCloud > Manage Storage > Backups>iPhone> (Wait for the list to populate and then toggle off Metamask)

https://community.metamask.io/t/ios-users-please-read-this-info-about-icloud-backups/19074

How high can your project’s TVL go?

Since we are trying to solve the #1 problem currently facing crypto mining sector and assuming our solution works, then we are hoping to become one of the top 3 miners and possibly even contend for the top.