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pagong0x, Beant165, joinfree, sieemma, skifly - invitations sent.
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JaoBadjap, cafoo4161, Ciprut2605, fitraok09 - discord invites have been sent via PM.
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Phase B of Beta Testing started. New FLUX smart contract now features fail-safe mechanism. For 28 days after launch you can only lock-in 100 DAM for any address. After 28 days you will be able to lock-in any amount.
For beta testing on testnet this is set to 3 days. Also FLUX burn ratios (my vs global) are now clearly displayed so you can now just multiply all numbers on the left to get to the "Current Mintable Amount"
If there are no major issues in this test we'll be making FLUX smart contract public some time next week for 50,000 DAM exploit bounty (paid out of our own pockets). If there is an exploit we will also buy back 50,000 DAM from the market.
This new FLUX smart contract has the following updates as of today:
- 3 days failsafe test (You can only lock-in 100 DAM for the first 3 days of the test. After which the smart contract should automatically allow you any DAM lock-in amount. This will be set at 28 days on mainnet, so 3 days is accelerated.)
- FLUX Smart contract cleaning up
- 100x mint increase (Adjustments after updating unit tests, this brings us to correct 9m/year projection) |
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Datamine Crypto provides planet-scale token utility built through Smart Contracts utilizing the latest in Ethereum and serverless technologies. We are very excited to announce that we are starting phase B of beta testing of our new Lock-to-Mint Smart Contract platform on the testnet.
All UI features are completed (compatible with MetaMask & Brave).
Be one of the first to see how we utilize ERC-777 operators to grant another smart contract operator access on the original smart contract.
Availability will be capped to 50 testers.
If you would like to be one of the first beta testers to try out something entirely new, please send a direct message to us, stating: "I have read your announcement, and would like to participate in Beta testing"
To avoid spamming this thread, please do not reply with a standardized message as outlined previously. Requirements: Have MetaMask installed. Contribute 1 hour of your time. Join our private beta test Discord Server sent by invite. Bounty Reward: 100 DAM tokens upon launch |
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Added smart contract batching today to reduce number of calls. 3x performance boost.
Another QOL improvement. Last Mint won't show up if you haven't minted since DAM lock-in (It was showing same block before).
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Where does FLUX value come from? FLUX: Time is Money 2.0
The value of FLUX originates from borrowing a portion of the worldwide dividend mint rate when burning FLUX.
Core Use Case:
Our dual token protocol rewards users for destroying FLUX tokens from circulation to create a dynamic market equilibrium using realtime on-chain supply and demand.
FLUX is simply a measure of time that can be transacted to reduce global inflation and increase dividend rates. Dividend rates can be increased by buying time.
The value of FLUX originates from borrowing a portion of the worldwide dividend mint rate when burning FLUX. |
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For the base Datamine (DAM) token we've kept it as simple and basic as possible. This token is a standard ERC-777 implementation and was deployed on Ethereum mainnet with fixed supply of 25,000,000 DAM. 16,876,778.9 DAM tokens were ultimately swapped and 8,123,221.1 DAM tokens were burned. To bootstrap the DAM/FLUX token ecosystem we chose to use a fair distribution of the two year old Bulwark blockchain.
FLUX token is a NON-FIXED supply token in our ecosystem that will be used for all future use cases. As it's non-fixed and has predictable minting we can create more "spendable" use cases without having to worry about fixed supply nature of DAM token.
DAM lock/unlock: To generate FLUX dividends you need to lock in some DAM. There is no minimum amount unlike staking/masternodes and the rewards scale linearly & predictably.
Mint delegation: When you lock-in your DAM you can specify one Ethereum address to mint on behalf of your address.
Remote mint: So you can mint FLUX from your phone to any Ethereum address, even though DAM is stored on your hardware wallet.
Remote burn: So you can burn your FLUX from your phone targeting your hardware wallet.
Partial mint: You can specify how much of your mint you want to be sent to a specific address. This way you can demonstrate it quickly and mint to your friends without minting the entire amount.
3x Time Bonus: After you lock-in DAM for at least 24 hours, you will start receiving a small mint multiplier every 15 seconds. This lasts for 28 days after which you can gain a permanent (until you unlock DAM) bonus to your FLUX mints
10x Burn Bonus: If you burn 9x the global average then you will get 10x the mint rate. This is a global number that is based on how much DAM is currently locked-in and how much FLUX these locked-in addresses burned. (Keep in mind the formula is based on ratios, so by locking 10 DAM you would need 10x the burn amount compared to locking in 1 DAM). You can think of it this way: (All the FLUX I've ever burned / my DAM locked-in) must be 9 times greater than (global burned FLUX of only users that are currently locked-in / global DAM locked-in)
The dividend bonuses are multiplicative. So you can get up to 30x FLUX minting rate. It is suggested to get max 30x mint rate at time of minting FLUX, so this means you will most likely buy some FLUX first and burn it to your address if you are not at max multiplier yet before minting your FLUX.
The most efficient way to mint at any time is:
1. Get 3x time bonus (28 days after locking).
2. Before pressing mint, make sure you have 10x burn multiplier, if not buy FLUX and burn.
Bonuses are calculated at the time of mint.
Our built-in smart contract burn mechanics will create a self-balancing economy.
DAM contract: https://etherscan.io/token/0xF80D589b3Dbe130c270a69F1a69D050f268786Df
FLUX contract: https://etherscan.io/address/0x469eda64aed3a3ad6f868c44564291aa415cb1d9 |
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-----BEGIN BITCOIN SIGNED MESSAGE-----
This is Datamine from bitcointalk.
Today is May 12, 2020.
-----BEGIN SIGNATURE-----
bc1q3axtl6rghvad03d2w9agc9c0w8zcq5xyy3z2nu
H54rOYDzfRuaypiUaBkoukH3Y6l2zgouA5TTDTzSLexXKFaMeoA2jGamBdKu/lFbrt27bcJIZ7QJTaWtGxUmH10=
-----END BITCOIN SIGNED MESSAGE----- |
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Will there be any DAM that did not come from BWK swap? Like a premine for devs or something?
Right now bwk has a little over 15m tokens in circulation. It will probably be between 16-17m tops by the time the swap is over.
So can we expect max supply of DAM to be around that at most? Forever?
Also what will be the use case for FLUX, besides staking/
All of DAM will be created from Bulwark swap, there is no premine. The total supply of DAM will be determined by how much Bulwark is swapped. The remainder of DAM will be burned, no more will ever be created.
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SWAP COMPLETED. Trading is now live: https://graviex.net/markets/dambtc
We are excited to announce that the first one-time token swap will occur on June 08, 2020 on Graviex exchange.
Graviex will perform a one-time swap for any account containing Bulwark balance. Swap ratio is 1:1 (meaning 1 BWK = 1 DAM).
Trading of DAM on Graviex will begin immediately after the swap has taken place. Bulwark will then be officially delisted from Graviex.
Instructions
Graviex account registration: You can create an account here: https://graviex.net/signup
Deposit Instructions: You must deposit Bulwark to Graviex BEFORE June 08, 2020. Your Bulwark balance will automatically be swapped to Datamine token on June 08, 2020.
How many swap opportunities?: First token swap date of June 08, 2020 provides ample 30-day notice to our community, with two more subsequent opportunities on Crex24 and Txbit as outlined below.
What about Midas Exchange?: Midas exchange swap details are currently being discussed with Midas team, updates to follow.
(ALTERNATIVE OPTIONS) If Graviex is NOT an option for you or you miss the first deadline, TxBit and Crex24 are alternative options with DIFFERENT later dates. You will need to deposit Bulwark into your account before the swap date in order for your balance to be swapped to Datamine.
CREX24 SWAP DATE: June 15, 2020. Sign up: https://crex24.com/register SWAP COMPLETED. Trading is now live: https://crex24.com/exchange/DAM-BTC
TXBIT SWAP DATE : June 22, 2020. Sign up: https://txbit.io/Signup SWAP COMPLETED. Trading is now live: https://txbit.io/Trade/DAM/BTC
TXBIT is the LAST CHANCE to swap your BWK. After TXBIT swap, we will burn rest of DAM tokens. BURN COMPLETED.
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Shouldn't it be mentioned that DAM has planned a 1:1 swap with Bulwark (BWK)?
That is correct. We will post an official announcement here once the swap is ready. |
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Datamine Network is a new non-custodial and decentralized open source economic system that uses smart contracts to create Adaptive Money. Our dual token DeFi protocol generates dividends every 15 seconds.
Our Core Use Case
Our dual token protocol rewards users for destroying FLUX tokens from circulation to create a dynamic market equilibrium using realtime on-chain supply and demand. FLUX is simply a measure of time that can be transacted to reduce global inflation and increase dividend rates. Dividend rates can be increased by buying time. The value of FLUX originates from borrowing a portion of the worldwide dividend mint rate when burning FLUX.
Decentralized Market Equilibrium
Early on, dynamic periods of volatility will occur frequently as the system moves closer to finding equilibrium. As the Datamine market cap grows and FLUX liquidity increases, a market equilibrium will be established. Datamine does not take custody of tokens and is only a collaborative hub. Datamine is not a licensed bank, broker-dealer, investment advisor or an exchange. Datamine uses partner protocols (Ethereum) to power its own ecosystem.
Realtime Multi-Smart Contract Analytics
Datamine Network is an emerging DeFi dApp leader thanks to our robust, feature-rich user dashboard that allows anyone to interact with our smart contracts. Get realtime on-chain market sentiment and see your balances in USDC with our deep Uniswap integration. Realtime market cap, portfolio balances and instant worldwide Datamine (DAM) / FLUX token analytics at your fingertips.
Secure By Design
All business logic is executed via Smart Contracts so your funds are safe and secure. No 3rd parties are involved in fund movement and transactions are performed on-chain. Our incentivized security pays you to stay safe!
Built For The Community
Utilizing the latest serverless, web3 and mobile technologies our Smart Contracts feel like the apps you use and love. Seamlessly switch your experience from desktop to mobile on the same secure and easy-to-use dashboard.
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