We recently launched a bit of an experiment, Virtual Mining using NFTs as Proof Of Participation (POP) with mining rewards in eBTC (Eco-bitcoin).
Info;
Virtual Miners use what we call POP (Proof Of Participation) to mine eBTC
Each Virtual Miner has a set speed, which is its power ratio. Virtual Miners are available on Litemint from Tuesday 09 April (12.00 UTC) and will be released in batches. Our website (ebtc.fredenergy.org) will have a list of available VMiners.
The power ratio is used to calculate the mined rewards of eBTC per hour
FX100 – 1x speed
FX250 – 2.5 x speed
GFX500 – 3.6 x speed
GFX750 – 6 x speed
GFX808 – 7.8 x speed
Mined eBTC is paid hourly and weekly as follows;
50% of mined eBTC are paid hourly, the remaining 50% are accumulated and paid weekly as a claimable balance with a random claimable date between 9-12 months. The claimable date feature is used to provide a steady distribution flow.
Key facts;
Only virtually mined, and eBTC added to liquidity pools from Virtual Miner sales will be available on the markets (SDEX).
Liquidity for eBTC is added each time a Virtual Miner is sold, with 95% of the sale price being used to add liquidity, the remaining 5% to cover fees associated with claimable balances.
Liquidity will not be removed by the project and will remain as is for the lifetime of the project.
We are not going to create any markets for eBTC on the SDEX, that is down to the community. Owners of eBTC can swap eBTC for any other asset on the SDEX due to the liquidity pools.
The project cannot sell eBTC other than those it Virtually Mines, the same as everyone else. FRED Energy does not profit from the eBTC project, we have invested time, effort and have seeded liquidity pools with an initial $1000. We are doing it because it’s a good idea, fits with our aims, its new to Stellar and has longevity.
