I am struggling to understand this staking system and unfortunatelly I seem to be the only one.
You are not
Topic: [ANN] (DAM) Datamine Network - FLUX: Time is Money 2.0 - DeFi DApp - page 8. (Read 5961 times)
July 06, 2020, 09:08:49 AM
You are not
July 06, 2020, 07:28:24 AM
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
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
July 05, 2020, 06:14:39 PM
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.
July 05, 2020, 12:42:17 PM
Is the requirement to unlock before locking additional DAM by design, or is this a possible future feature?
July 04, 2020, 09:37:55 PM
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:
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).
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).
July 04, 2020, 06:37:36 PM
We can only unlock to lock more after 28 days, right?
you can unlock to lock more anytime but time multiplier will be reset
July 04, 2020, 04:13:41 AM
We can only unlock to lock more after 28 days, right?
July 04, 2020, 12:11:39 AM
How is Dam circulation supply works, is it only 16 M? Let us know the token distribution system
July 03, 2020, 10:13:21 PM
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.
July 03, 2020, 02:40:19 PM
Small question. Do we need to unlock DAM to lock more/new DAM? Or am I missing a button? TY.
July 02, 2020, 10:46:36 PM
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
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
July 02, 2020, 07:26:09 AM
Can I buy Dam token now?
July 02, 2020, 05:20:01 AM
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.
July 01, 2020, 09:37:16 PM
When can we lock more DAM please? TY.
June 30, 2020, 09:53:46 PM
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.
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.
June 30, 2020, 02:30:33 PM
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?
June 28, 2020, 05:06:13 PM
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:
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:
June 28, 2020, 11:07:29 AM
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
June 28, 2020, 09:37:14 AM
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
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
June 27, 2020, 06:05:05 PM
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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