Eagle Network is a new blockchain innovation for users to earn Eagle, a cryptocurrency that you can mine on your mobile phone. By playing the roles of Miner, Keeper, Witness, and Delegates Eagle Network players will earn rewards in Eagles. In order to make Eagle valuable, Eagle Network is specially designed as a network consisting of genuine people which fosters players to exchange goods, service and in real life with their Eagle balance and eventually list Eagle on major cryptocurrency exchanges for trading Eagle with fiat money.
Q1. WHEN CAN I WITHDRAW EAGLE?
You cannot withdraw Eagle yet in Phase 1. Eagle Network is providing withdrawals under 6 months of project commencement. Eagle will be able to be transferred from phase 2. All members of the mining app will need to swap Eagle to EagleToken on the crypto wallet coming up in Phase 2. This will happen after members pass KYC. On the wallet app, members will then stake Eagle to earn EagleToken at 5% - 10% a month. Listing on exchanges will start on Phase 3, while phase 4 of Eagle Network’s roadmap is the start of the Eagle Blockchain. Listing of EagleToken on major cryptocurrency exchanges will allow players to utilize the Eagles earned from Eagle Network to trade and sell. Note that the Eagle Network Core Team do not and cannot fix the initial price of EagleToken as the price depends on market dynamics and holders mindset. Please refer to our project road map in the White Paper: https://eaglenetwork.app/white-paper. Bear in mind that it takes time and a collaborated effort to build the value of Eagle and the ecosystem of Eagle Network, if you are looking free money then Eagle Network is not the place for you.
Q2. WHAT IS THE GROWTH POTENTIAL IN EAGLE’S VALUE?
Eagle’s value will be backed by the population of Eagle Network, transaction volume services or goods exchange between Eagle Network’s, liquidity in the exchange market and time. Just like Bitcoin, its value was $0 back to its launch in 2008, but when its popularity grows and as time goes by, 1 Bitcoin is now trading at over US$ 50,000. As it takes time and a collaborated effort to build the value of Eagle and the ecosystem of Eagle Network. The more active people using Eagle to mine cryptocurrency the more value it gets.
Q3. WHAT DOES IT COST TO EARN EAGLE? DO I NEED TO PAY ANY MONEY?
You do not have to pay any money to join Eagle Network and earn Eagle. However, it does not mean Eagle is given for free. To make Eagle Network’s experience fun and rewarding, we strive to build a network of genuine people, foster interaction between players in real life and encourage players to exchange, services or goods in real life with Eagle balance. Hence it takes your consistent commitment to make contributions to the community and Eagle is your reward. The least you can do is to log in on a daily basis and activate a new mining session.
Q4. WHY IS THE MINING RATE REDUCED?
In order to ensure the stability of the price of Eagle and prevent any negative fluctuation common among cryptocurrencies, cutting supply (or known as ‘halving’ in the cryptosphere) is imperative to maintain the supply and demand chain of Eagle. By reducing the Eagle supply, Eagle Network can maintain the scarcity of Eagle tokens to secure the value held by our Eagle Network users - including you. Take Bitcoin for an example. Halving is a common occurrence that happens roughly every four years to the world’s biggest and most valuable cryptocurrencies, and the price of Bitcoin actually rises with each halving event that has occurred. In simpler words, cutting the supply of Eagle for each major user milestone safeguards the price of Eagle while protecting it from price inflation. According to our project roadmap, there will be a total of 6 rate halving in the entire project roadmap. The 1st rate halving (-> 1 Eagle / Hour) will be active as soon as miners reach 50,000 in number. The 2nd, 3rd and all the way to 6th rate halving happen when the entire Eagle population has grown to 100 thousand (-> 1 Eagle / Hour), 1 million (-> 0.5 Eagle / Hour), 2 million (-> 0.1 Eagle / Hour) 5 million (-> 0.05 Eagle / Hour), 10 million (-> 0.01Eagle / Hour), and eventually there will be 0 new supply of Eagle when the user base is more than 10 million worldwide. While it might feel not very comfortable when you realize the rate of earning is not as fast as the old time, it is an extremely important measure to create and grow the value of Eagle by rate halving.
Q5. WHAT IS THE TOTAL SUPPLY OF EAGLE?
The Eagle Network economic model is built upon the following principle.
i) New supply of Eagle becomes 0 when the total user base has grown to 1 billion worldwide.
ii) ii) Earlier joiner should be rewarded better than late joiners.
iii) iii) Users with more contribution to the community should be rewarded better. iv) Contribution made by Eagle Network‘s core development team should be recognized and rewarded.
iv) v) Total supply of Eagle is dependent on number of users. The total supply of Eagle = M + K + W + E when Eagle Network ceases supply when it hits the 1-billion-user mark. M, K and W refers to the total Eagle earned by all miners, keepers and witness before supply ceases. E refers to Eagle rewarded to Eagle Network’s core development team, which is 25% of (M + K + W). Hence, the actual amount of total supply of Eagle is dependent on the total users activity before Eagle Network hits the 1-billion-user mark.
Q6. WHY IS THERE A DIFFERENCE IN EAGLE BALANCE?
The balance on the main page of the application is an indicator of your “temporary” earning in the current session. However, the actual eligible balance will be transferred to your account after a mining session of 24 hours completed according to the formula. For example, given your base rate is 2 Eagle per hour, you have referred 25 new miners to join your mining team, yourself and 10 of them are actively mining today, you will earn at 2 (base rate) + 0.5 x 10 x 25% (inviter rewards) = 7 Eagles per hour. If you have signed out before a session ends, your earning of that incomplete session will be forfeited and therefore you will see the difference between the indicator and your actual earnings.
Q7. DOES THE APP DRAIN DATA OR BATTERY?
No, the Eagle mining app does not eat up your data or battery, as the algorithm runs on cloud server. You do not need to leave the app open to mine. Eagle does not affect your phone’s performance, drain your battery, or use your network data. Once you open the app each day and activate your 24 hours mining session, you can even close the app and you will continue to mine.
Q8. WHO IS A MINER?
A user of the Eagle Network mobile app who is simply confirming that they are not a “robot” on a daily basis. This user validates their presence every day as they must open the app every 24 hours to be able to continue earning Eagle for free. A Miner can earn the base rate of 2 Eagle per hour, which cut down to 1, 0.5, 0.25, 0.20, 0.15, 0.10 and 0 according to the growth of user base. By logging into application every 24 hours and clicking the mining button, users are participating in the gamified experience.
Q9. WHO IS A KEEPER?
Miners of the Eagle Network achieve KEEPER status when they are actively getting new miners to join their earning team. Only new users who use your sharing code to register on the app can be on your earning team. The reward for this is a 25% Each member of your earning team provides a 25% increasement of your daily earning as long as they also activate their 24 hours mining session each day. Any day they did not activate you lose that 25% more Eagle. So make sure to actively remind them. This also have the added advantage to increase cryptocurrency awareness as more and more people are mining by opening the Eagle mining app.
Q10. WHO IS A WITNESS?
A user of the Eagle Network mobile app who is contributing by providing a list of miners he/she knows to be verified before withdrawals. It is essential that all members within your mining team also verify their account for you to have access to the 25% bonus for withdrawals as without them doing so, you would not be able to withdraw bonus gotten from teammates.
Q11. WHO IS A DELEGATE?
Delegates are high level miners of the Eagle Network mobile app, and is also running the Eagle node software on their desktop or laptop computer. The delegate role will be active from phase three when the Eagle Blockchain mainnet will be launched. There will be only 210 Eagle Network Delegates to ever exist securing the Eagle Blockchain nodes. The Eagle node software is the software that runs the core algorithm, taking into account the trust graph information provided by the Witness.
Q12. WHAT IS STAKE?
The stake within the Eagle Network is a self made value put in place which makes sure not all max supply of EagleToken will be on offer at any point in time. This will be achieved as all miners need to stake mined Eagle, and only have access to 5% to 10% on a monthly basis. This boost the earned Eagle in a short time and by so doing members are supporting the further growth for a more progressive outcome. Note that stake is compulsory for all to activate emission.
Q13. IS EAGLE NETWORK LEGIT?
Eagle Network mining app is the first step into a full scale Blockchain project. We know Blockchain without people and users is pointless and useless hence the need for an initial starting point which sets the stage for real world use case of the upcoming Blockchain applications. The theory is well proven. Real-life applications are seen on assets like Bitcoin, Ethereum, Tether which people today are trading for goods, services and fiat money like US dollars. The backbone of the community of Eagle Network rides on blockchain technology. You may refer to our white paper for better understanding.
Download the android or iOS app and start mining today. Earn 25% extra by referring someone else.