It’s been a long way…

Dear community,

First I will introduce myself. I am John Kitkin, the head of Whalesburg who initiated the TGE (Token Generation Event) and managed to get the project into its current state.

It’s been a long three years of cooperating, for which I am very grateful to all of the Whalesburg community members. Thank you for the partnership, for the experience gained, for the trust provided. For three years, miners have supported the project and helped us develop the best solution on the market as WBT buyers and loyal customers. I’m glad I had the opportunity to work with such valuable and sensitive community members.

Today I am exiting the Whalesburg project and handing over all my work to Mirelle Dismenol (CTO of helveticmine.com). Special thanks to him for supporting the project during its life and remarkably in recent months. Thanks to his team and him as a source of payments to miners (10 ETH paid out of his Pocket), we managed to overcome some difficulties such as the DDOS attack, the collapse of servers due to Berlin Hardfork, and low statistical luck.

Before handing over the project, it is crucial to be clear about Whalesburg & WBT:

• Whalesburg no longer officially supports or develops WBT;
• I cancel the Tier system;
• There will never be WBT refunds;
• Referral Program gets disabled as well
• Pool Funds are empty based on the reward system
• Neither Mirelle Dismenol nor Helvetic Mine SA is responsible for such a decision, and it was made solely by me, John Kitkin.

For three years, I tried to make the product comfortable to use and worthy of your loyalty. Unfortunately, not all plans came to success. A series of negative factors affected the development and the company’s goals. The trust of token buyers — this is the most valuable thing that the company had. Based on trust, we were able to create Whalesburg. I apologize to WBT holders for not living up to it. I always tried to do my best; maybe that’s why the project stayed afloat for so long.

Reasons:

• The price of ETH fell from $616 at the time of the token sale to $82 after six months;
• Due to which we had to divide with most core-team members in December 2018;
• Influencer’s high advertisement prices and low ROMI;
• Bans and ad blocking on Google & Facebook;
• High listing prices from exchanges;
• Inferior token liquidity due to a relatively small number of customers;
• Insufficient WBT trading volumes for listings;
• The weak utility function of the token by design;
• Several powerful custom DDOS attacks on the server, which we were unable to repel and lost most of our customers;
• Emerging competitors are way ahead in terms of functionality;
• The auto-switching capacity feature did not work as effectively as intended due to market realities;
• Difficulties with scaling the system.

Despite the above, we held our own for three years. And just recently, I had a plan to develop and grow Whalesburg. Unfortunately, not everything happens the way we want. So I have to cancel WBT and announce that the tokens and the tier system are obsolete as of this day, based on the public Token Sale Agreement paragraph 8.

The team invested a total of over 25,000 working hours in creating the platform in 3 years. We tested over 100 marketing hypotheses. More than 200 people worked at Whalesburg (including outsourced and part-time jobs). The pool paid over 11,000 ETH to miners, which is $28mil. by today’s rate. Precisely 711 people have supported the project in the public token generation event and 11 syndicate funds during the pre-sale.

I’m transferring the ownership, the source code, the database, and the domain into the safe hands of professionals from Switzerland at www.helveticmine.com. For the last two months, they’ve been working on increasing the pool’s stability so that despite the PPS system flaws associated with low luck. The Team paid now 10 ETH out of Mirelles pocket to already overdue payouts. Mirelle is taking care that all other remaining Payouts are getting processed over time, so no miner is losing his hard mined ETH, it just takes a bit of time, as the Pool itself has no funds anymore for payout related to above-listed issues.

Mirelle Dismenol will get a reliable, competitive code base to build a new pool with more efficient payout mechanisms. With over 1500 GPUS at the start and a vast network of professional acquaintances and customers, I’m sure they will be able to bite off a significant market share. As soon as all oldstories are cleared, and the rebranding has finished, it gets launched under the Swiss Company Helvetic Mine SA.

I will still be available in the community chats and will answer every question you have. I wish you good luck and high profits in mining!

IMPORTANT LIST:

• Neither Mirelle Dismenol nor Helvetic Mine SA is taking any responsibility to the WBT TGE or WBST.
• Helvetic Mine SA’s hashrate of approx 60GH is coming to the Pool as soon as the reward system is changed.
• Mirelle Dismenol is taking care on its own that every miner is getting his payout, this is getting done by earned pool fee & his private mining farm.
• New Team has managed to reactivate Profit Switching in a better way and has made the Infrastructure Bulletproof. For near over a Month now is the pronounced DDOS attack running, and for quite some time the infrastructure even doesn’t sweat.
• As soon as all oldstories (overdue payments) are cleared, and new developments are finished, they will run under the flag of Helvetic Mine SA
• a Payout request form will be created, so all miners can request their Payout. it will get processed chronicle and by the available balance of earned pool fees and Mirelle’s private Farm.
• New Database gets launched with PPLNS reward system.
• WBT Tier system is getting disabled.
• Referral Program is getting disabled.