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Hopefully at some point Datamine will provide a clear answer as to what is the use case of Flux other than burning to create more flux.
The value of FLUX originates from borrowing a portion of the worldwide dividend mint rate when you burn FLUX. 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.
Datamine is a new non-custodial and decentralized open source economic system that uses smart contracts to create Adaptive Money. FLUX is Money 2.0. Our dual token DeFi protocol generates dividends every 15 seconds. The protocol rewards users for destroying FLUX tokens from circulation to create a dynamic market equilibrium using realtime on-chain supply and demand.
We can prove our use case using realtime supply and demand for both $DAM and $FLUX tokens from on-chain data. See dynamic market equilibrium in action based on realtime market sentiment:
Aside from this functional core use case, FLUX will have secondary use cases (under development). This is exactly why we wanted one fixed token (DAM) and one non-fixed, mintable token (FLUX)= unlocks secondary smart contract use cases, especially when taking advantage of the ERC-777 token protocol. |
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An early look into our upcoming product: Datamine DeFi Realtime Analytics
- Gain deep insights into $DAM and $FLUX network movements
- Less than 1 second to process 2500 events
 [/list] |
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Where does FLUX value come from? The value of FLUX originates from borrowing a portion of the worldwide dividend mint rate when burning FLUX.
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.
Core Use Case
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Hoo.com will list DAM (Datamine) and FLUX July 8. Hoo is a digital assets trading platform with over $480 million in 24 hour trading volume.
https://support.hoo.com/hc/en-us/articles/900001683906
DAM/USDT, DAM/ETH, FLUX/USDT and FLUX/ETH trading will start at 15:00 on July 8, 2020 (UTC+8).
Deposit: Enabled.
Withdrawal: 15:00 on July 9, 2020 (UTC+8).
Happy Trading!
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I am struggling to understand this staking system and unfortunatelly I seem to be the only one. I've already read most of the "getstarted" guide and my doubts reI am struggling to understand this staking system and unfortunatelly I seem to be the only one. I've already read most of the "getstarted" guide and my doubts remain. Even went on Discord but the replies I get there seem redundant.
What's the point of burning FLUX to earn more FLUX.In the end what do you do with the FLUX you earn...keep burning them to earn more?? Do people actually sell FLUX or does the number of FLUX you hold have any influence in DAM? I ve seen other staking projects and normally you're purpose of earning dividends is to grow your holdings withe the idea to sell them eventually. Here, it just seems redundant.
Can someone please explain the value of this to me.
Thanks
We're one of the only few tokens in the world with a built-in on-chain use case (the most important is the on-chain burn).
This is the proof: As of 07/06/2020, FLUX Burned 2,259.34 FLUX / $ 90,003.40 USDC (63.06% of minted FLUX).
It'll take 2 months to find a stable price for FLUX. You will see the true potential of on-chain burn after FLUX is stable and has enough liquidity.
Datamine Market Equilibrium (what is our use case?).
- The Buyer & Burner: Someone that mints FLUX in the most efficient manner (at 30x mint rate)
- The Seller: Someone that provides liquidity for the above (at below 30x mint rate)
- The Investor: Someone accumulating FLUX from the market (as there is value to the above)
- You are providing value for someone in need, that is the true use case FLUX = TIME
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Is the requirement to unlock before locking additional DAM by design, or is this a possible future feature?
This is done to prevent various exploits and to discourage accessing cold storage balance.
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Targeted $FLUX Burning is now live!
You can now specify which address receives burned #FLUX dividends.
This feature adds new use cases for $FLUX token:
- Use $FLUX burn as a form of payment.
- Burn $FLUX to your friend's address to increase their mint rate.
Today, Datamine took the #1 spot as the top Global Ethereum DeFi dapp
So Far:
$4,087,148 $USDC (53.22% of lifetime supply $DAM - 8,982,501 Tokens) are now locked.
$90,156 $USDC (68.16% of minted $FLUX Dividends - 919 tokens) have been re-invested through burning.
$851,015 $USDC (24 hour trading volume across all exchanges).
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Small question. Do we need to unlock DAM to lock more/new DAM? Or am I missing a button? TY.
Unlocking your DAM tokens will cause you to lose your current unminted FLUX Dividends. Therefore, we recommend that you mint your FLUX Dividends before unlocking DAM. After unlocking DAM, you can add more DAM and then re-lock your updated DAM token balance. |
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Introducing Realtime On-Chain FLUX Token Dividends Forecasting. You can now forecast your FLUX earnings with our built-in forecasting mode!
Using realtime on-chain data straight from multi-router Uniswap data you can get an estimate of both FLUX and USDC amount based on any amount of DAM. It is SUPER SIMPLE to use, just click "Forecast Mode" within the Datamine Dashboard and you get to enter any DAM amount to see the Dividends you would earn.
We'll be expanding this forecasting calculator even further in the coming days so be sure to follow along: https://datamine.network
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When can we lock more DAM please? TY.
Fail safe ends in ~26.80 hours (6432 blocks), after which you will be able to lock in any amount of DAM.
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I'm a DeFi noob with a dumb question: what is the benefit of the two-token system that DAM has implemented? Why Flux and not just Dam?
We have built a robust, feature-rich user dashboard that allows anyone to interact with our smart contracts. With the recent launch of FLUX token, we are making significant headway in emerging as a DeFi DApp leader.
To answer your question: FLUX tokens fuel on-chain applications within the Datamine DeFi Ecosystem. FLUX Dividends are only produced by locking in DAM tokens. Dividends can be re-invested by burning FLUX tokens.
For a technical explanation, read about our smart contract implementation here: https://github.com/Datamine-Crypto/white-paper/blob/master/docs/datamine-smart-contracts.md
Using the Datamine Dashboard, you can now calculate exactly how much $FLUX is required (with $USDc equivalent) in realtime to get 10x burn bonus using on-chain data.
Hover over the Unminted amount to see how your bonus multipliers factor into your mintable FLUX sum.
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You can now find links to both DAM/FLUX smart contracts right on the homepage:
We've also updated the UX of the mint call to action to ensure the Realtime Analytics don't go below the fold so it fits nicely on a 1080p monitor:
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Introducing Realtime Unminted $FLUX $USDC Balance
- See your unminted $FLUX balance in realtime.
- You can now see how much your $FLUX is worth based on real, on-chain $USDC multi-route UniswapProtocol data.
- See it in action: https://datamine.network
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We use instant on-chain multi-router UniswapProtocol data to show your balances in $USDC. Realtime marketcap, portfolio balances, and worldwide Datamine $DAM / $FLUX token analytics at your fingertips.
We're also excited to announce that $FLUX trading is now LIVE on UniswapProtocol, ahead of planned schedule! Reminder that fail safe still ends July 2 (you can still only lock-in 100 DAM untill July 2nd). We'll be rolling out FLUX features over the next few days.
https://uniswap.info/token/0x469eda64aed3a3ad6f868c44564291aa415cb1d9
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Introducing realtime USDC/ETH pricing for Datamine (DAM) tokens using on-chain multi-router Uniswap data. We're trying to push DeFi realtime on-chain analytics to another level. Utilizing our multi-smart contract mesh we're able to fetch USDC price and compute the DAM market cap in realtime! This feature is live now and you will find it in your Dashboard. We'll be adding deeper Uniswap and on-chain analytics data now that multi-router computing is possible for Uniswap pairs, so be sure to follow us for updates.
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You can now load Uniswap liquidity data in realtime from your Datamine Dashboard. Instantly buy or sell DAM in a completely decentralized manner through Uniswap.
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Your dashboard now features two new realtime metrics:
1. FLUX Total Supply.
2. FLUX Burn Percentage.
Currently 87.14% of the total FLUX supply is being burned. Locking in DAM generates FLUX. Burning FLUX increases minting rate (up to 10x).
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