MultiVAC‘s Mining Plan Is Updated Completely and “Everyone Mining & Perfect Earning” Plan Officially Launched
Dear MultiVAC Communities:
Good news! Our “Everyone Mining & Perfect Earning” plan officially launched!
The “Million-Bounty” plan of MultiVAC’s testnet has been completely updated, which is a key step for MultiVAC’s ecosystem construction. The innovative mining mechanism, including friendly rules like ‘deposit and withdraw at any moment’ and ‘daily compounding’, significantly benefits the entire community and further establishes a fair, stable, and robust ecological network in blockchain.
MultiVAC is the first blockchain program proposing the innovative mechanism of fair mining and everyone mining. It is rated as the №1 decentralized blockchain by Tokeninsight and staking yield also ranked №1 in Standard & Consensus. As of November 28, the total deposit in the whole network exceeds over 414 million MTV, and the total rewards for miners exceed over 51 million MTV.
Detailed Rules and Regulations
1. How to Calculate Miners’ Rewards?
A. Deposit 1 million MTV to run a node (Before the release of our client, the default mining mode is cloud-mining).
B. Miners who deposit less than 1 million MTV automatically join group mining (Mining with foundation and other miners to function as an independent node. Miners can participate in mining with any amount of deposit and receive the proportioned yields).
The estimated annual rewards at each phase is as follows (The rate flows with the total deposit amount)
100 nodes, 100 million deposit, 63% annual rewards;
200 nodes, 200 million deposit, 31.5% annual rewards;
300 nodes, 300 million deposit, 21% annual rewards;
400 nodes, 400 million deposit, 15.8% annual rewards;
500 nodes, 500 million deposit, 12.6% annual rewards.
Note: The gas fee of cloud servers will continue to be exempted by MultiVAC for both new and old miners.
2. Deposit and Withdraw at Any Moment & Daily Compounding
The “Everyone Mining & Perfect Earning “ plan provides a mechanism supporting miners to deposit and withdraw at any moment. And passive reward generated by daily compounding maximizes their profits.
Period for Effective Deposits & Redemption:
Re-invest the interest: T+2;
Deposit Withdraw: T+3.
For instance, Miner A who deposits on October 10 will start mining from 23:59 on October 11. The system will automatically deposit the interest for him/her by transferring the corresponding mining rewards into miners’ accounts on Oct 14, that is, transforming mining rewards into the principal (the date will be Oct 14 because October 13 is not a working day). If miner A submits his/her withdraw application on October 14, he/she will get the deposit by 23:59 on October 17. But please notice that there is no mining rewards during these days after you start the withdraw application.
Note: Operations like deposit, and withdraw are calculated in line with working days and the time zone is UTC+8.
3. Super Bonus for Locking Up
Our team designs a super bonus mechanism for miners who lock up MTV. All miners can get a super bonus for locking-up provided that the continuous locking-up period is more than 30 days, 60 days or 90 days and the total amount of withdraw should be less than 5% of that of deposit.
The lock-up time is calculated from the day they participate ( the default time for old miners start from October 10). All lock-up rewards will be distributed to miners as the main-net is launched. The specific rewards are shown as follows.
30 days continuous lock-up, get extra 5% annual rewards(daily average deposit);
60 days continuous lock-up, get extra 10% annual rewards(daily average deposit);
90 days continuous lock-up, get extra 15% annual rewards(daily average deposit).
Quick Start Guide!
Simply speaking, it only takes three steps to start mining! ( fill in the form- deposit MTV — check your rewards after T+1 days).
1）Apply for the Whitelist
Submit the application form with the following whitelist form link (deposit or withdrawal):
Note: To successfully pass the examination and verification, please fill in this form seriously.
2）Transfer MTV to the Officially Designated Address
After submitting the form, please complete the deposit directly. You don’t need to wait for the official reply to do that.
The officially designated address:
Note: Make sure to transfer with a personal ETH wallet. (Do not use exchanges wallets in case we can’t distribute rewards to you.)
3）Check Your Own Profits after T+1 days
After depositing for T+1 days, the whitelist will open to you automatically. (You don’t have to seek advice from admin.)
Then you can enter https://e.mtv.ac/#/network to check your rewards ( please talk to the admin if you fail to get them).
- Mining Parameter:
About 10 seconds for each Shard generating blocks;
5 MTV for each block;
34,560 blocks generated daily;
172,800 MTV as rewards daily.
2. Previous miners have automatically converted new mining mechanisms (no additional operations required) and enjoyed the full benefits of the upgrade;
3. The Staking activities we cooperated with exchanges are the product with the time limit and fixed rewards are free from the influence of updates, including:
Kucoin Will support the MultiVAC(MTV) Lock-up and Cashback Program:https://www.kcs.top/news/kucoin-will-support-the-mtv-lockup-and-cashback-program;
MXC Will Launch “PoS Staking” for MTV: https://mxc-exchange.zendesk.com/hc/zh-cn/articles/360033009792;
4. At present, the 10% rewards of Lighting Fund in mining activities have directly distributed into each mining account to deposit and the rest 90% rewards have put into reward distribution address (for the following mining rewards and activity costs). The 10 million MTV used to build Lighting Fund has returned to the Ecosystem address;
5. Mining rewards in “Everyone Mining, Perfect Earning” will be consecutively bought back from exchanges by the foundation and will be distributed or compounding through reward distribution address;
6.MultiVAC reserves the right of final interpretation.
MultiVAC is high-throughput flexible blockchain platform based on trusted sharding computation. It’s a next-generation public blockchain platform built for integration with large-scale decentralized applications (dApps). MultiVAC is developing the world’s first fast, efficient, and fully sharded blockchain with sharding for not only computation but also transmission and storage, maximizing throughput while maintaining decentralization and without sacrificing security.
At the same time, MultiVAC pioneers flexibility for DApps to trade-off freely on the impossible CAP triangle between decentralization, performance, and security, supporting large-scale decentralized commercial applications for complex and diverse business requirements.
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