💰ShitDAO Mining Guidelines
ShitDAO will launch a mining feature to reward community engagement and contribute to the long-term development of the SMAP ecosystem. Following deliberations by ShitDAO, we have outlined the mining strategies as follows:
Game 1: sGPT Mining
Eligibility
Users holding more than 300,000 sGPT are eligible to participate in sGPT mining.
Claiming Frequency
Rewards can be claimed every 6 hours.
Reward Amount
Initial claim amount is 690 sGPT per 6 hours. The specific release amount will dynamically adjust based on daily price fluctuations and participant numbers.
Claim Process
Users must manually claim their rewards on the www.smap.ai website.
Example:
If a wallet holds 300,000 sGPT, the user can claim 4 times every 24 hours, 690 each time, leading to a daily total of 2760 sGPT. The current APR is calculated as: (2760 * 365) / 300,000 = 335.8%.
Locking Policy
In this rule, sGPT is not locked, and users can trade sGPT in their wallet at any time.
Game 2: veSHIT Mining
Allocation
39.4% of community-donated sGPT, with 80% to be released over 4 years.
Release Schedule
About 10% released annually, initially averaged over 365 days. Future release rules can be voted on and refined by veSHIT holders.
Weight Calculation
The amount of veSHIT held determines the daily mining weight.
Reward Calculation
Individual sGPT = Daily total release amount * (veSHIT of current wallet) / (total veSHIT)
Distribution
No manual claiming is required. Rewards are automatically deposited into SMAP accounts daily and can be withdrawn to wallets at any time.
Example
If 14,896,000 sGPT is released daily, and Dr. SHIT holds 10,000,000 veSHIT (with a total veSHIT of 1,000,000,000), then Dr. SHIT's daily sGPT = 14,896,000 * 10,000,000 / 1,000,000,000 = 148,960.
Game 3: Community Mining
Allocation
ShitDAO allocates 15% of the total donated amount for rewards to existing NFT community holders. The specific NFT communities will be determined through community voting.
Reward Calculation
Individual wallet holder's claim = Community allocation * User's NFT holdings / Total NFT quantity.
These rules outline the mining strategy developed to incentivize participation within the SMAP ecosystem. By engaging in these mining activities, users can benefit from the growth and development of SMAP, and actively contribute to its success. Further updates and community decisions will be communicated as they arise.
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