Re: [ANN] (DAM) Datamine | $FLUX - Lock to Mint - Multi-Smart Contract DeFi DApp
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. FLUX functions as the native currency of the Datamine Ecosystem and is powered by Datamine (DAM) token.
To answer your question: FLUX tokens fuel on-chain applications within the Datamine DeFi Ecosystem. FLUX is only produced by locking in DAM tokens. BURNING FLUX increases the global demand.
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 is only produced by locking in DAM tokens. BURNING FLUX increases the global demand.
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.