Quote from: minereum on Today at 06:28:54 AM

Quote from: brendan6498011 on May 13, 2020, 11:19:08 PM

Quote from: minereum on May 13, 2020, 06:37:09 PM

Hi Everyone,

Here is an update on the MNE Staking feature following the previous announcement here

How it works

The Minereum Staking Process is planned to work like this:

- Each Staking Period will last for 365 days

- Each day will have a total MNE Staking Interest Rate assigned to it

- Each day this Interest rate will decrease by 1%

- At the end of each day the final amount of MNE sent by the participants will determine how much each paticipant will get in relation to the percentage of what they sent for staking

For example:

Day 1
- Interest Rate: 1000%
- 1 user participates with 1,000 MNE
- User will get the whole interest rate of 1000%, means he will be entitled to claim 10,000 MNE

Day 2
- Interest Rate: 990%
- 2 user participates with 10,000 MNE each
- Total Staking Pot: 20,000 MNE
- User 1 participated with 10,000 MNE, meaning he has 50% of the pot, meaning he gets 50% of the interest rate = 495% = 49,500 MNE
- Same for User 2

Day 3
- Interest Rate: 980%
- 100 users participate with 1,000 MNE each
- Total Staking Pot: 100,000 MNE
- Each user participated with 1,000 MNE, meaning each user has 1% of the pot, meaning each user gets 1% of the interest rate = 9.8% = 1098 MNE

Limitations:

- Genesis Addresses cannot participate in MNE Staking directly (however mined coins can be transfered to other addresses to participate)
- The staking will last for 365 days and the staked coins can be claimed after that.

For example:

When a user participates on day 1, he will be able to claim his coins on day 365 + 1
When a user participates on day 2, he will be able to claim his coins on day 365 + 2
When a user participates on day 3, he will be able to claim his coins on day 365 + 3
etc.

Here you can see a chart with the interest rate curve for each day.

https://www.minereum.com/v2/interestrate.png

I have a question, the staking coins come from where?

New minted coins

Hi there, can you tell me how to burn this shitcoin from my wallet? Well done on this super elaborate scam, not entertaining the idea of giving a penny to start "mining" the Ponzi dollar. It is uber annoying that I have to look it on the balance sheet in the reports - I don't want to destroy my wallet just because of this spam.

thanks in advance,
Kris