Wisdom Points (WP's) are rewarded for consistent and accurate predictions. Since they are converted to real monetary value at the end of every quarter, and since it has the potential to gain interest over time - think of them as money in a savings account. Please note: as with any investment, the value of your investment can go up or down dependant on the success of the Pynk managed portfolio. Learn More about Wisdom Points.
At the end of each quarter - WP's are converted into a stake in the Pynk portfolio. If your WP's have suddenly been removed from your account the likelihood is that we are in the process of transferring and depending on the volume of transfers this process can take some time (so please be patient).
If you believe that your WP's are missing from your account for any other reason please contact us at hello@pynk.io
Your WPs' value will be determined by Pynk's Trading profits for each quarter of the year and so it will vary depending on the success of our portfolio. Your share of Pynk profits, earned by accumulating WP's, will be transferred to you in the form of a stake in the Pynk managed portfolio. Within the 2 point system, WP's are the only point that has a cash value.
Wisdom Points (WP's) are similar to Crowd Points (CP's) in that they are earned by completing actions within the Pynk 'Crowd Wisdom' system. WP's are primarily earned by making price predictions on traditional and digital asset classes, completing social tasks or co-creation tasks within our community.
WP's you earn are dependent on the accuracy of your predictions. The more accurate the prediction the more WP's from the Pynk Pool you will win and the more often you predict, the more you will earn too!
At the end of each Wisdom Point exchange cycle, you can either exchange your earned WP's for monetary value in the managed investment portfolio - or you can donate that value to planting trees (coming soon with more good causes to follow, shaped by the Crowd).
At the end of each Quarter (every 3 months), we will begin the process of exchanging eligible Pynksters' WP's for a stake in the Pynk portfolio. Depending on how many Pynksters are exchanging in that quarter this process can take a few days - so please be patient. Only Pynksters who have earned enough Wisdom Points (WP's) in that quarter will be eligible to convert. This minimum earning amount will vary based on a number of factors each quarter. Any Pynkster who has not earned enough WP's to convert will have their WP's carried over until next month. Check this example.
No, you cannot currently sell your Wisdom Points. An option to exchange these within the Pynk ecosystem will be added at a later date. Note that Wisdom Points represent your stake in the portfolio, have the potential for long term growth and we strongly recommend Pynksters hold on to their stake in order that they can maximise their value potential.
You do not directly earn money at Pynk, yet. Currently, you can earn WP's which turn into shares in Pynk. We are building a long term safe way to invest and learn while building an open community for investors.
Crowd Points (CP's) are the earned activity points that demonstrate you are an active member of the Pynk ecosystem. These points have no inherent value outside of the Pynk app, they cannot be monetised. Not to be confused with Wisdom Points (WP's). Learn More about Crowd Points.
At the end of each month, we automatically reset everyone's Crowd Points. This means every month each crowd member starts on a level playing field (pssst....your crowd points don't have a cash value anyway so don't stress 😉)
Not necessarily, but staking more will increase the WP's available in the pool. Your staked CP's will turn into WP's and will be collected in the Pynk Pool for each assets' daily prediction contest. After the daily prediction time period ends - the Pynk Pool WP's will be distributed to Pynksters based on best prediction performance. So your spent CP's will be awarded to your fellow Pynksters, including you.
The only use of your Crowd Points is for staking on each prediction you make. They have no cash value either inside the Pynk ecosystem or outside, cannot be sold or traded, withdrawn or cashed out. Crowd Points will be reset at the end of each month to level the playing field for all Pynksters at the start of each quarter.
One of the primary uses of Crowd Points (CP's) is to place a stake on your daily predictions, the more points you have the more you can stake. Crowd Points also indicate consistency of effort and contribution.
As they do not have an inherent value outside of their ability to stake predictions, they will not and do not have any monetary value. If you work hard and are one of our top 20 stakers every month - you could earn a USD 10 prize.
Pynksters earn Crowd Points (CP's) by completing activities that benefit the crowd as a whole, such as making referrals, completing co-creation tasks or even just logging in daily (for this task alone you will receive 500 CP's). Conversely, not logging in on a daily basis will result in a penalty of 150 CP's per day.
No. As they do not have an inherent value outside of their staking function in the Pynk ecosystem - they would have no value on an exchange or other website. Also, Crowd Points (CP's) are not a cryptocurrency.
You do not need to withdraw it. As long as you have updated your USDC wallet address within your Pynk user profile - your USDC will be transferred within 1 working week. Is USDC still missing after that? Contact us: hello@pynk.io
We do not provide you with a USDC wallet ID, this is something you obtain via a 3rd party. We do not recommend any in particular but to give you an idea of the type of company that provide these services, Circle.com and Coinbase are two that you can get a USDC wallet through. We would suggest you do a search for USDC wallets and find the one that is most suitable for you. Once you have this in place, you can add this to your Pynk user profile.
USDC is a stable coin, a type of digital asset which maintains a consistent value with the US Dollar. In other words, 1 USDC = $1. It was launched on the 26th of September 2018, in a collaboration between Circle and Coinbase.
Currently, you can earn USDC in our daily and monthly competitions. $5 USDC prizes are available for each asset class (Bitcoin, NASDAQ and Gold) and a $10 USDC prize is available for the monthly staking contest.
No, this is currently the only digital asset we pay competition winners in.
Although there is currently no limit on the amount of people that you can refer, we would ask that you only refer those that you believe are willing to participate in Pynk on a regular, long term basis. Try inviting your close friends, family members and colleagues. It will make it more fun being able to discuss your progress within the Pynk ecosystem!
Within the app, there is a unique Referral Link which you can copy & paste and post in blogs, social media shares or forums to invite your good friends and family!
Our community members each have a unique referral link which they can use to invite more people who hope to become active Pynksters. Provided their link took you directly to our website (pynk.io) then there should be no issue with following this link. it does not cost you anything and your data is safe with us under United Kingdom law. If you are worried about the link you received because it took via another site or asked for financial, personal or account details, then please get in touch: hello@pynk.io
When your friend joins and completes at least 15 predictions, the system will unlock your referral rewards as Wisdom Points. You will then be eligible to earn life-time WP's for as long as your referral is active and making predictions.
Yes, in order to keep the Pynk eco-system safe we work hard to stop multi-account users and block bad actors who try to earn points via invalid referrals. We have a zero-tolerance attitude towards bad actors and cheaters. Please be sure that you are taking an honest approach at all times to avoid your account being blocked.
Residents from almost any country can contribute to Pynk and withdraw their earnings as cash straight to their wallet (when the investor wallet opens later this year). You can also leave your earnings in the managed investment portfolio and enjoy further growth year on year. Unfortunately, only UK and European investors can top up with additional monies into the investment portfolio (see Invest Eligibility section above for more information on this). This is a short term restriction based on costs and regulations. We plan to open up investment to as many countries as possible.
They are being converted in a certain type of way. We are busy trying to get the licenses needed to expand fully into the USA. In the meantime, we are ring-fencing USA users' WP earnings and they will be ready and waiting once we get the necessary approvals. We will offer opportunities to donate your earnings to charity as some of our community members have expressed a desire to do this.
