[ANN] (DAM) Datamine Network - FLUX: Time is Money 2.0 - DeFi DApp

[Datamine]

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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[tusandii]

How is Dam circulation supply works, is it only 16 M? Let us know the token distribution system

[Chosentry]

We can only unlock to lock more after 28 days, right?

[NetTime]

We can only unlock to lock more after 28 days, right?

you can unlock to lock more anytime but time multiplier will be reset

[Datamine]

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).

[Bimmerhead]

Is the requirement to unlock before locking additional DAM by design, or is this a possible future feature?

[Datamine]

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.

[TheOldHat]

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

[bspus]

I am struggling to understand this staking system and unfortunatelly I seem to be the only one.

You are not

[Datamine]

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

[TheOldHat]

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 Whale: 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

Seriously, I asked very basic questions so you could explain to me in layman's terms what was the PURPOSE of creating tokens only to burn them. WHAT'S TO BE GAINNED IN value for the individual user?

Why couldn't u adrress my questions directly in a methodical fashion? Instead you answered with the same techincal terms that made my doubts arise in the first place.

I wish there was a telegram channel, so much more friendly than Discord. There someone would dfinitely help me with this.
And how does this add value to DAM in the first place. It's like DAM only exists for the sake of FLUX.

[Datamine]

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!

[TheOldHat]

I must've touched a sensitive point with my doubts. Wow the lack of sensitivity to help potential investors that have no knowledge of these things really says a lot about you. clearly not deserving of my money or other people.

I'll make sure to spread the word on telegram channels, how you help people understand your project!

[wekael]

I must've touched a sensitive point with my doubts. Wow the lack of sensitivity to help potential investors that have no knowledge of these things really says a lot about you. clearly not deserving of my money or other people.

I'll make sure to spread the word on telegram channels, how you help people understand your project!

Lmao imagine being such salty. I think we can live without your $20 dude...,
everything is said if you dont understand it how to help you?

Thats more DAM for me..

[Krypto_Knight]

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

You can swap your FLUX on uniswap or sell it to someone else who needs to burn it for the reward system. 

[Datamine]

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

[Datamine]

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

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[NationalPotato]

If I'm reading this right, the primary purpose of FLUX is to be burned to get the 10x multiplier to get more FLUX?  What are the other use cases for FLUX outside of this?  I understand DAM's use case as being the mechanism that produces FLUX through locking... but that mechanism assumes that FLUX has underlying value or some natural reason that people would want to use / buy it.

Right now you're basically describing a two-tier ponzi system.  Is there something that I'm missing that can be clearly explained?

[Datamine]

[TimeTeller]

If I'm reading this right, the primary purpose of FLUX is to be burned to get the 10x multiplier to get more FLUX?  What are the other use cases for FLUX outside of this?  I understand DAM's use case as being the mechanism that produces FLUX through locking... but that mechanism assumes that FLUX has underlying value or some natural reason that people would want to use / buy it.

Right now you're basically describing a two-tier ponzi system.  Is there something that I'm missing that can be clearly explained?

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Where is the actual use case aside from this burning strategy?
Burning alone will not give the results that you are aiming for this project.
Many projects tried to showcase that burning technique will give them good value in exchanges.
But it's not, you need to find solid application in the market.
Otherwise, this will be another dead project soon.