Topic: [ANN] (DAM) Datamine Network - FLUX: Time is Money 2.0 - DeFi DApp (Read 5961 times)

Hope it will happen to them. Because nowadays the cost of eth cuukup is expensive. If they want to switch chains, it will make the community happy with its very cheap transaction fees.

I have read all in thread. It is great project. I am Very impressed by this project. I will Invest in this and tell my friends to check this.

Judging from the case use case, FLUX Tokens are currently used in the DeFi ecosystem on Datamine, by burning FLUX Tokens will create price stability, It is very good for DeFi enthusiasts, datamine is much loved by the DeFi community.

I hope they create a campaign where it will make the datamine Community grow quickly, because it's a good project it just looks like they need a quick promotion like a campaign.

Escaping Crypto Volatility with Datamine Network

https://twitter.com/_Mike_NFT/status/1798910771935453347

Overview of Datamine
Datamine introduces a novel solution to mitigate the volatility of digital assets using a dual-token algorithm. The platform utilizes two tokens: DAM and FLUX. The DAM token incorporates scarcity pricing to manage supply, while the FLUX token employs the Proof-of-Burn mechanism to stabilize demand and control volatility.

Dual-Token Mechanism

Scarcity Pricing (DAM Token):
The total supply of DAM tokens is capped at 16,876,779, ensuring that the supply remains inelastic once this limit is reached. This scarcity pricing principle helps maintain the value of the DAM token as demand grows, preventing unbounded inflation. The DAM token's primary purpose is to generate a stable supply of FLUX tokens, which are used for transactions within the ecosystem.

Proof-of-Burn (FLUX Token):
FLUX tokens can be burned to reduce their supply, offering financial incentives to users who temporarily withdraw FLUX from circulation. This helps manage excess supply and stabilize the token's value. The mechanism encourages users to burn FLUX tokens during periods of low demand, leading to price rebounds and reduced volatility.

Economic Structure and Benefits
The dual-token system is designed to reduce the risk of holding a digital asset portfolio by combining assets with different volatility levels. When the market contracts, users can hold FLUX tokens (low volatility) and short high volatility assets, and vice versa during market expansions. This approach aligns with modern portfolio theory, offering an effective hedge against market risks.

Integration and Security
The Datamine ecosystem benefits from strong network security, evidenced by a large number of validators, and integrates seamlessly with DeFi liquidity pools. This integration not only enhances security but also ensures that the FLUX token maintains low volatility and inflation, making it suitable for conventional financial transactions.

Regression Analysis and Forecasting
Datamine's approach is validated through regression analysis, which shows the stability and predictability of DAM and FLUX token prices. Key factors such as gas fees, Ethereum price, and market volatility are incorporated into the model, ensuring a robust and resilient ecosystem. The forecasting tool provided by Datamine helps project future values of the tokens, further enhancing investor confidence.

Feasibility and Practical Application
The feasibility of Datamine's platform lies in its innovative combination of economic principles and cryptographic mechanisms. By addressing the primary concern of volatility in digital assets, Datamine positions itself as a viable solution for investors seeking stable and reliable returns in the cryptocurrency market. The integration with existing DeFi platforms and the validation through rigorous economic modeling make Datamine a practical and forward-thinking approach to decentralized finance.

In summary, Datamine's dual-token system effectively mitigates digital asset volatility through scarcity pricing and the Proof-of-Burn mechanism, offering a stable and secure investment option in the ever-evolving cryptocurrency landscape.

Inflation keeps rising. https://imgur.com/a/Eoap9sk

Datamine is the sleeping giant, ask ChatGPT why: https://chat.openai.com/g/g-WdK2nNwGZ-datamine-network

This is DeFi's first inflation-resistant currency built on Ethereum. Market equilibrium is established using a variation of Proof-of-Burn algorithm. When people will catch on it'll be > 100 mm cap.

Usually I get a DeFi project but the development time is so short that it just goes away. What the DeFi community loves the most is when the DeFi projects they participate in are sustainable. although datamine is less popular among DeFi but this is an opportunity for those who want to enter early before this project explodes until it is known to many people, surely the price will be very high, Datamine is still active this year, proving that this project has been able to survive in the market weather.

This is the only DeFi with decentralized, market-controlled inflation. And had the foresight to do this back in 2020 at launch. There's a lot in the pipeline currently, join the Discord server for all info.

Big spike in trading volume yesterday: $400k for FLUX…

Interval price action:

$DAM has increased to $0.2613
$FLUX (L1) has increased to $1.1734
$FLUX (L2) has increased to $1.1096
FLUX reaches $1mm cap. Still testing price discovery waters… happy trading and congrats to those who are up almost 100%.

Excited to see this project still thriving. After 1.5 years, $1,400,000 $FLUX has been burned. And now:

1. The ArbiFLUX decentralized dashboard is now live!
Decentralized Minting on Ethereum — Utilizing Arbitrum L2 Rollups Scaling Solution
https://dataminenetwork.medium.com/introducing-datamine-arbiflux-ca04f8912f5f

2. https://datamine-crypto.github.io/datamine-pro-portal/#/trends
Trends AUTOMATICALLY finds unbroken trends for 15 different #cryptocurrencies

DAM smart contract: https://etherscan.io/token/0xF80D589b3Dbe130c270a69F1a69D050f268786Df
FLUX smart contract: https://etherscan.io/address/0x469eda64aed3a3ad6f868c44564291aa415cb1d9

What is the contract address for the token?

Just look at it like how every DeFi platform is working. Yield farming is the most common feature. But if you think about it, where will they get the value of those tokens farmed? There should be some use case, right? Because without use case backing the DeFi platform, they can easily be abandoned. So you need to look for valid use case in order for you to have peace of mind that your money is earning passive income.

FLUX is currently in the DeFi ecosystem, well it's a bit like a ponzi, but DeFi allocates rewards from the supplies they have, and they'll also routinely burn, I guess it's not the same as ponzi.

The market is pretty good lately, some say it's approaching alt coin season, buying some FLUX seems pretty good for the future. However, Uniswap costs are still a little more expensive today, is there a FLUX market that is already registered with CEX? it would be a little helpful about the cost of gas

You can see them now, look at their website now they are in Open Beta V3, and will continue this month for the next version. Let's take a look at the surprise of v4 from DataMine.

I see the website is so professional. I've always been interested in DeFi. And datamine looks good for all DeFi in a way.

But, speaking of the community that not all of them like ethereum because of the transaction fee. Does Datamine have plans to become a multi chain?

check out the new dashboard core metrics:

- $FLUX Market Cap (based on Uniswap $USDC / $ETH real-time pairing)
- Flux Remaining Supply (365k left, 676k destroyed valued @$1,100,000.00)
- Unique $DAM locked-in addresses

source https://twitter.com/dataminenetwork/status/1373060289604808706

There were two swaps to different tokens last year; one to DAM (Datamine Network) and one to BAST (Bastion Exchange). If you failed to join either of the swaps, you still have your BWK, however there does not seem to be any network for it anymore, no more other nodes online, and it's been delisted from all exchanges as far as we know.

At the time of the swaps, the BWK chain had many problems, was priced close to or below 1 cent each and if you were not paying attention for several months considering it is an altcoin and not one of the major (top 10 or top 20) coins, then either effectively did not value or it, or maybe you can write it off as a loss.

BAST is not doing too well (maybe it died, not sure), and DAM is probably undervalued currently hovering around 8 cents. It is quite volatile jumping from 8 cents to 20 cents often due to more than 74% of circulating supply being locked up to mint FLUX. 12m DAM locked up out of 16.8m total supply.

If you had 50k BWK at the time of the swap, it was probably worth $25 USD if you could even manage to sell it on any exchange. Cryptopia died much earlier, Crypto-Bridge "effectively died" when they went KYC and it was left on 3 other exchanges, all of which no longer also list DAM anymore.

Your best bet is to get some on UniSwap, then join us on discord and read #get-started. See OP for official links. More than $1.12m USD worth of FLUX has been burned already. More than 900k DAM is available on UniSwap.