Re: [ANN] (DAM) Datamine - Decentralized Savings Account in Your Pocket - DeFi DApp
Hopefully at some point Datamine will provide a clear answer as to what is the use case of Flux other than burning to create more flux.
The value of FLUX originates from borrowing a portion of the worldwide dividend mint rate when you burn FLUX. FLUX is simply a measure of time that can be transacted to reduce global inflation and increase dividend rates. Dividend rates can be increased by buying time. Datamine is a new non-custodial and decentralized open source economic system that uses smart contracts to create Adaptive Money. FLUX is Money 2.0. Our dual token DeFi protocol generates dividends every 15 seconds. Our protocol rewards users for destroying FLUX tokens from circulation to create a dynamic market equilibrium using realtime on-chain supply and demand.
We can prove our use case using realtime supply and demand for both $DAM and $FLUX tokens from on-chain data. See dynamic market equilibrium in action based on realtime market sentiment:
Aside from this functional core use case, FLUX will have secondary use cases (under development). This is exactly why we wanted one fixed token (DAM) and one non-fixed, mintable token (FLUX)= unlocks secondary smart contract use cases, especially when taking advantage of the ERC-777 token protocol.