It’s been a minute since Welch, who completely inexplicably rode a single viral moment of TikTok fame to internet stardom, has spoken about…well, anything. Up until December 4, she went about her usual business, which included posting episodes of her Talk Tuah podcast and heavily promoting $HAWK coin at just about every turn on Twitter https://info-dealer.com/telematics-creating-an-ecosystem-in-construction/. Once $HAWK officially launched, the bottom seemed to fall out.
This comes after Welch promoted a Solana meme coin called Hawk Tuah (HAWK), in reference to her viral interview, that quickly imploded after its launch. Within 15 minutes, the token was created, soared to a $490 million market capitalization, before it crashed 93% in value—prompting a slew of rug pull allegations.
Ms Welch’s post on X claimed that her team attempted to prevent so-called “snipers”, who buy and sell cryptocurrencies quickly at moments when they are likely to make the most money from a gap in buy and sell price – sometimes using automated trading tools – by imposing higher fees on one exchange.
Mining cryptocurrency certainly isn’t a new concept. However, many mining protocols require miners to invest in expensive hardware or use up considerable amounts of electricity. Pi Network is unique in that no expensive hardware is needed. In fact, you don’t need to invest any money at all. Here is a rundown of some of the features that set the Pi Network apart.
Users who have been invited to the network by referral will be asked to provide the invitation code. Otherwise, if you join without one, your mining rewards will be minimal. You miss out on the opportunity to mine 25% more of your base mining rate.
By June 2019, the network had reached 100,000 active users, followed by a dramatic increase of more than 3.5 million during its second phase. In March 2022, the Pi Network claimed that its user base had reached 33 million.
Pi’s mining rewards are distributed based on an issuance formula that follows a declining exponential model defined in the Pi whitepaper. Users can increase the amount of mining rewards they receive based on their individual contributions to the network, like Security Circles, using utility-based Pi apps, running Nodes, etc. For each month, the amount of Pi to be distributed as mobile balance is capped and determined by the model, regardless of how many people or how many types of mining rewards there are during the month. The capping is achieved by the design of a system-wide base mining rate, and each type of mining rewards to each individual are just a multiplier of this base mining rate. As the monthly supplies always diminish, the base mining rate generally decreases over time. Fewer Pi may also be issued because the real Pi issuance on the blockchain depends on Pioneers passing KYC and completing all steps required for migration to the Mainnet. Despite all efforts to facilitate and remind Pioneers to complete those required steps, there are always dropoffs along the way, resulting in less than all outstanding mobile balances to be issued on the blockchain. Because of this mechanism, the community issued amount (Migrated Mining Rewards) on the blockchain will likely be closer and closer to a line lower than the 65 billion. This is thus the reason for the variable Effective Total Supply which incorporates this effect. Effective Total Supply results from all Migrated Mining Rewards divided by 65%, as opposed to the Maximum Supply of 100 billion.
Circulating Supply includes all Migrated Mining Rewards and all tokens that entered circulation from other buckets of the allocations, which at its maximum could be summed up to equal the Effective Total Supply.
I take this situation extremely seriously and want to address my fans, the investors who have been affected, and the broader community. I am fully cooperating with and am committed to assisting the legal team representing the individuals impacted, as well as to help uncover the…
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Haliey Welch, better known as the ‘Hawk Tuah Girl,’ responded to the lawsuit filed against the shady foundation behind the launch of her crypto token, which cratered by over 90 percent just hours after reaching a $490 million market cap.
To lawfully sell a security, a company needs to file a registration statement with the Securities and Exchange Commission providing financial statements, information about what their company does, and who is employed by the company.