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Showing posts with label parity. Show all posts
Showing posts with label parity. Show all posts

Tuesday 8 June 2021

Our new withdrawal system updated - one cent minimum

There are currently two options for withdrawal requests:


1/ You can request a withdrawal in WESA tokens.

2/ You can request a withdrawal in bitcoin.

The demand for withdrawals against WESA tokens has far exceeded what was expected and it is not possible to meet the remaining demand from the amount of WESA tokens available.
There are still well over 4,000 withdrawal requests waiting and so we will have to cap WESA token withdrawals for the foreseeable future until we are paying at rates compatible with the demand and true value of the WESAbundance token, which is about $153.00 at present.
Many members have benefitted greatly from the thousands of withdrawals already paid, amounting to many millions of WESA tokens and they can be counted as lucky as this is, unfortunately, at the expense of their fellow, unpaid members.
Any unpaid members that still desire a payment should cancel any existing request and submit a new request for not more than 0.06 WESAbundance tokens (the minimum withdrawal has been reduced to 0.033 WESAbundance tokens)
I know this will disappoint many members but remember that any funds received are a gift and should be accepted with grace and gratitude.


Withdrawal requests in WESA tokens will now be limited and paid as soon as processing allows - the amount calculated at the market value at the time of the withdrawal, subject to a minimum value of one WESA token equals one cent starting on June 5th, 2021 and then doubling each week from that time until it reaches parity with the WESAbundance token value. Once that parity is reached, the WESA token will be tethered to the WESAbundance token.


Withdrawal requests in bitcoin (or any other cryptocurrency we decide to make available in the future) will be subject to our ability to sell your WESAbundance tokens at what admin deems to be a realistic value. This is governed by liquidity (supply and demand) and the smallest request will always be paid first. Any unpaid requests at the end of the month will be cancelled and the tokens returned to your internal wallet.

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