Understanding the Governance and Token Economic of ADAMoracle from the Node Mining
With the rapid development of the blockchain industry, public chains, DeFi and other ecosystems are rapidly expanding, and related hot projects are emerging one after another. According to data from coinmarketcap, as of July 14, 2021, the total market value of cryptocurrencies has reached US$1.3 trillion, while the share of Bitcoin’s market value in the total market value has dropped to about 47%. New stars such as DeFi and NFT are gradually emerging. As the oracle of the infrastructure for the development of ecological application, it will also be a battleground for capital institutions.
The Background of ADAMoracle
In recent years, oracle products have gone through many iterations, from the early centralized oracles to the decentralized oracles represented by Chainlink and the Maker Dao OSM Trusted Alliance oracles. However, mainstream oracle products on the current market still have weakness such as opacity, inaccuracy, difficulty in expansion, and poor resistance to attacks. The ADAMoracle Lab launched the oracle 3.0, the goal is to provide a reliable, accurate, and decentralized oracle system for smart contract developers, and realizing “everyone can become a node”, promoting the development of rich business formats such as lending, synthesis, and forecasting markets. ADAMoracle is the first decentralized oracle that supports wide-area node quotation. This is also the biggest difference between ADAMoracle and other oracle products.
How does ADAMoracle Distribute Mining Rewards?
Mining rewards account for the vast majority of the ADAM share of ecological tokens, and are divided into two components: node mining and liquidity mining. They play a vital role in ADAMoracle ecological governance and ensure the efficiency of quotation services and plays a key role in the incentives of ecological participants.
Node Mining Rewards:
Node mining is an incentive mechanism provided by ADAMoracle Labs for nodes participating in the ecological construction of the oracle. Due to the different functions of each node, after comprehensive measurement, the official decision to reward node mining based on the contribution of each node’s computing power.
The total share of node mining rewards accounts for 60% of the total amount of ADAM, which is 60 million ADAM rewards. The node mining rewards are produced in installments. The first phase is 12 million. The total mining rewards for each subsequent phase will decrease by 20% compared with the previous phase. For example, the total amount of rewards in the first phase is 12 million. When the output of these 12 million ADAMs is exhausted, it will enter the second phase. The total rewards in the second phase are reduced by 20% compared with the first phase, which is 9.6 million.
Participating in node mining needs to calculate node computing power with storage space, and 30 ADAMs must be pledged for each T computing power. Because the total amount of rewards in each period is different, the specific share of the mining rewards that the node can obtain can be derived according to the reward algorithm. If APY of each period is set to be Y, the amount of pledge per T is P, the current amount of pledge of the node: Z (unit T), and the current daily reward is R. Then R = YPZ/365. It is worth mentioning that the mining rewards of each period are equally divided according to the proportion of the storage space, and the computing power contribution of each node is the proportion of the storage space to the full storage space. The full storage space of node mining in the first phase is only 100P, and the annualized income of ADAMoracle node mining is officially set as high as 400%.
Liquidity Mining Rewards:
“ADAM Liquid Mining” is a DeFi mining product launched by ADAMoracle for all users. In order to satisfy users with different risk preferences, ADAMoracle has designed two modes: “Liquid Mining” and “Pledge”. At present, liquidity mining has supported ADAM-USDT-LP; “Pledge” currently supports 7 token pledge modes including USDT, ADAM and WBTC. ADAMoracle is an oracle product that supports a multi-chain ecosystem. It supports public chains such as ETH, BSC, HECO, Polkadot, Solana, and Polygon etc. In the future, users who hold mainstream currencies on the above platforms can participate in mining.
The total amount of liquidity mining rewards is 9 million ADAM, and the rewards are produced in installments. The official launch date of the product needs to wait for the official announcement of ADAMoracle. Please pay close attention.
What is the Token economic of ADAMoracle ?
ADAM is ADAMoracle’s contribution reward token to participants. It is the core value of the ecosystem. Its value comes from the value contribution of ecological members. The total issuance of ADAM is 100 million.
[Node Mining] 60% of mining output, 60 million ADAMs are used for node mining rewards.
[Liquidity Mining] 9%, 9 million pieces, used for liquidity mining and single currency pledge mining.
[Early Financing] 16%, 16 million. There are three rounds: seed round, private placement round, and public placement round.
[Reward for community contributors] 5%, 5 million.
[Reserved by the team] 5%, 5 million.
[Community/Marketing] 5%, 5 million.
ADAMoracle is the first decentralized oracle that supports wide-area node quotation. This is not only reflected in its organizational structure, but also in the distribution mechanism of the token ADAM. ADAMoracle is not simply a mining-oriented project, but a node-centric project. In order to increase the loyalty of the nodes and optimize the operating efficiency of the oracle to the greatest extent, ADAMoracle will transfer most of the ADAM shares to the nodes.
ADAMoracle oracle machine builds a node-centered and community-assisted decentralized governance ecology based on the ADAM economic model. In this ecosystem, project parties and investment institutions as early participants only play a leading role in the creation of the ADAMoracle ecosystem. As the ADAMoracle oracle develops and grows, nodes and communities will become the core of the project, realizing real common governance. ADAMoracle’s economic model is unprecedented. This model is extremely innovative. Let us witness how it will develop in the future.