Before making a withdrawal you must be aware of our rules!
Also when withdrawing it is wise to leave sufficient balance in your WESA Wallet to cover any re-Staking of expired Pool Stakes paying special attention to the fact that if a lower Pool Stake expires all higher Pools Stakes will be suspended.
Withdrawal rules for 2021
There are 2 levels of KYC verification…..
- Level 1 (L1) are allowed a maximum withdrawal of about $150
- Level 2 (L2) are allowed to request as much as you wish; see main rules below for deciding on your withdrawal amount.
Our withdrawal system has a window from 2nd to 21st. No withdrawal requests will be allowed outside this window.
If you hold tokens in the Waves Exchange you may sell at any price you are happy to accept.
Withdrawals will be processed in order of value as speedily as possible subject to availablity of funds. No specific processing time can be given although we will aim to process as quickly as the demand for WESA Tokens allows.
Withdrawal Rules & Formulas (also read our Charter in conjunction with these rules)
To make a withdrawal request a member must first have submitted and had accepted as valid his Know Your Customer (KYC) verification and be of Elite Members status , i.e. holding active stakes in all 6 Pools.
There are 2 levels of KYC verification; Level 1 (L1) is a simple ID verification with a Photo ID such as a driving licence, passport, official ID. Level 2 (L2) requires also an official document proving residential address; this van be inthe form of a notarised letter ot a bank statemnt or utility bill etc.
L1 verification will allow a maximum total of $150 to be paid to the citizen while L2 will allow unlimited value withdrawals.
- Only one withdrawal per month per member is allowed.
The window for withdrawals will be from the 2nd of the month to the 21st of the month.
There are 2 options for withdrawals available for members to choose.
The option to be paid in WESA Tokens calculated at the market values in force at the time of payment but subject to a minimum value of $0.01 per WESA token as at 5th June, 2021 and this minimum value will double every week until a parity with WESAbundance Tokens is reached. Once parity is achieved the value Of WESA Tokens will be tethered to the WESAbundance Tokens. The value of WESAbundance to be withdrawn will depend on the number of requests in a month and may be capped at any lebvel to allow the maximum number of members to benefit. Withdrawals are paid as soon as we can make the process manually – please allow a MINIMUM of 5 working days for completion.
- The option to be paid in Bitcoins calculated at market values in force at the time of payment. This option will be subject to the liquidity of WESAbundance Tokens and the smallest requests will always be paid first.
NOTE: Making a transfer of Bitcoins out of the Waves exchange attracts high fees and so it may be better to first trade them for another coin such as LTC or ETH where transaction fees are lower.
- Once paid we have no control over the possible changes in the market values of the currency. It can work in your favour or not depending on market trends. The market value of any currency is what someone personally accepts as a value when selling, the value you place on a currency can be much different and is your choice. As a member of We Share Abundance it is recommended that you treat our currencies with respect, value them appropriately and not undervalue them simply because they are gifted to you.
The payment of withdrawals in Bitcoins is naturally based upon the principals of supply and demand and if supply exceeds demand it will not be possible to pay all requests until demand increases. This is exactly the same as if you were personally trading Tokens directly on the Waves exchange.
Withdrawals in Bitcoins will be paid in the order of the number of Tokens being withdrawn, the smallest number processed first. The reason is to pay as many people as possible and feed those in need, especially in 3rd world countries where little or no help is available from other sources.
The minimum withdrawal is set each month based on the WESA Token value and is usually about $5 to $10
There is no maximum withdrawal request but the higher the request the longer it will take to be paid out and the likelihood of not being paid increases if you select the Bitcoin Option.
The period at the end of the month when no withdrawal requests are allowed will help to clear any backlog of requests, but if any requests are unpaid at the end of a month they will be cancelled and the WESA Tokens returned to your internal wallet. You may then place a new request on the 2nd of the next month.
These rules are in place to secure and maintain the value of both WESA and WESAbundance Tokens for the benefit of all our community members. As we grow it will naturally increase WESA and WESAbundance demand and liquidity and we expect in the future to see withdrawal requests of any size promptly processed.
We encourage all our citizens to help our growth by introducing at least 1 Staked member a month and will reward members for doing so by implementing the following Bonus plan…..
Introduce just 1 new Pool Staked Citizen in the current month and receive an extra 10% on all your income when transferred to your WESA wallet at the month end. Read on it gets even better…
Introduce at least 1 new Pool Staked Citizen in consecutive months and receive the following total bonus at month end….
2nd consecutive month 15%
3rd consecutive month 20%
4th consecutive month 25%
5th consecutive month 30%
6th* consecutive month 50% (this level of bonus is still not programmed but will be available as soon as possible)
If any month you do not make a Staked referral then you will need to start all over again with no bonus until you again make a new Pool Staked introduction for an extra 10%.
Introduce a new citizen who stakes at Elite level in the same month as his registration and the above bonuses are DOUBLED for that month!
This means that as an Elite Member your income from just Staking can go from $150 a month to $240 a month and that will soon be $300 when the 6th month* is activated.