🤔FAQs - Frequently Asked Questions

Clarifying Common Queries

Is Hi5 Network safe to interact with?

Absolutely. The Hi5 Network is designed with user safety in mind. Unlike many other platforms, we don't have a central pool of funds, eliminating the possibility of a rug pull. Furthermore, our smart contracts have undergone rigorous audits by reputable firms to ensure their safety and reliability. For maximum security, always make sure you're interacting with our official smart contracts and follow best practices when engaging with any decentralized platform.

Why have I not received any response after a significant amount of time after sending out 5 letters?

There are a few reasons why you might not have received responses yet:

1. Random Selection: The recipients are chosen at random. Depending on the randomness, it might take some time for them to either notice or respond to the letters in their mailboxes.

2. Educate the Recipients: If you're keen on getting quicker responses, consider playing a proactive role. Use the tools presented in the on-chain tool section to educate the recipients about Hi5 Network and the benefits of participating.

3. Personal Contacts: One of the best strategies to ensure prompt responses is to send letters to wallets owned by individuals you personally know. This way, you can easily reach out and inform them about the letters, thereby increasing the chances of them taking action.

Remember, the nature of the Hi5 Network involves a degree of randomness and patience. Over time and with the right strategies, you'll likely see more engagement and responses.

How are tokens rewarded to players?

Tokens are rewarded to players using a comprehensive mechanism that takes into account both the deficit incurred by participants and the duration of their engagement with the Hi5 Network. Here's an overview of this mechanism:

1. Snapshot Timing: A snapshot is taken no sooner than three months from the inception of the Hi5 Network. For instance, if the Hi5 Network launches on November 1st, 2023, the snapshot would be taken on or after February 1st, 2024.

2. Deficit Calculation: At the snapshot's time, each player's deficit is calculated. The deficit represents the difference between the amount a player paid to propagate letters and the amount they've received back. Using Alice as an example: if she has disbursed $25 to send letters and has gotten $10 back by the snapshot date, her deficit stands at $15.

3. Time-sensitive Weighted Compensation: The weight assigned for token distribution is influenced by a function f(x, t) where:

   • x represents the deficit amount.

   • t represents the duration of the player's participation in the game since its inception.

   This function is structured to ensure that:

   • The weight decreases exponentially as the deficit (x) increases. Meaning, the weight difference for smaller deficit values is notably higher than for larger deficit values. For example, the weight variance between a $25 deficit and a $15 deficit (i.e., f(25, t)-f(15, t)) is greater than that between a $15 deficit and a $5 deficit (i.e., f(15, t)-f(5, t)).

   • Early participants in the game have a higher weight for the same deficit compared to those who join later. Thus, the value of f(x, t) for an early player will be greater than for a later player with the same x.

4. Future Calibration: It's important to note that the exact form and parameters of f(x, t) will be disclosed after careful calibration to ensure fairness and to incentivize both early participation and active engagement.

This structured reward system guarantees a balanced distribution of tokens, rewarding players based on their deficits and their tenure with the Hi5 Network.

Who are the people in the Hi5 Network team?

The Hi5 Network team is an eclectic mix of minds and experiences. On one end, we're backed by seasoned professionals who've honed their expertise on the bustling streets of Wall Street. Their vast experience ensures that the platform is built on a foundation of trust and professional excellence.

On the other end, our team boasts young, vibrant talents - some of whom are still navigating the academic halls of colleges. Their infectious enthusiasm, entertainment spirit, and rigorous academic perspectives inject fresh, innovative ideas into our platform.

This rich blend of age, experience, and perspectives is what makes Hi5 Network truly unique, as we combine the best of both worlds to deliver an unparalleled experience to our users.