Mining System
Miners are represented as NFTs, each with a hashpower attribute that determines their mining capability. The more hashpower a Miner NFT has, the greater its chances of mining a block.
Each wallet holding a Miner NFT is effectively a mining pool. There are no further steps required to be able to mine a block, simply holding the Miner NFT in a wallet will render the wallet eligible for mining rewards.
The Miner NFT Collection:
Max Supply: 10,000 Miners.
Team Reserved Miners: 50 Miners.
Mint Cost: 0.12 SOL + 75 Beetcoins.
Royalties: 4.20%.
Default Attributes:
Hashpower: 10.
Electricity Consumption: 1.
Electricity Consumption and Efficiency:
Each wallet can provide 10 points of electrical consumption. From that point, any extra electricity consumption above 10 will decrease how effective the whole mining pool (Miner NFT holder address) becomes. Meaning, the optimal electricity consumption range is between 1 - 10 points.
Formula for calculating electricity consumption and efficiency:
Electricity consumption within 1 - 10 points = 100% efficiency.
The first electrical consumption point above 10 = 1% reduction in efficiency. Meaning, 11 electrical consumption points = 99% efficiency, a 1% reduction. (1 point above 10, 1% reduction).
Electrical consumption of 12 points = 97% efficiency. (2 points above 10, 2% extra reduction).
Electrical consumption of 13 points = 94% efficiency. (3 points above 10, 3% extra reduction).
Electrical consumption of 14 points = 90% efficiency. (4 points above 10, 4% extra reduction).
Electrical consumption of 15 points = 85% efficiency. (5 points above 10, 5% extra reduction).
Electrical consumption of 16 points = 79% efficiency. (6 points above 10, 6% extra reduction).
Electrical consumption of 17 points = 72% efficiency. (7 points above 10, 7% extra reduction).
Electrical consumption of 18 points = 64% efficiency. (8 points above 10, 8% extra reduction).
Electrical consumption of 19 points = 55% efficiency. (9 points above 10, 9% extra reduction).
Electrical consumption of 20 points = 45% efficiency. (10 points above 10, 10% extra reduction).
Electrical consumption of 21 points = 34% efficiency. (11 points above 10, 11% extra reduction).
Electrical consumption of 22 points = 22% efficiency. (12 points above 10, 12% extra reduction).
Electrical consumption of 23 points = 9% efficiency. (13 points above 10, 13% extra reduction).
Electrical consumption of 24 points = 0% efficiency.
The efficiency of the wallet holding the Miner NFTs will affect the Effective Hashpower of each mining pool. This incentivises upgrading the Miner NFTs to reduce the overall electricity consumption.
Hashpower Bonus:
Bonus for extra miners: 1% per miner after 10, capped at 20%.
Bonus for extra hashpower: 1% per every 25 extra hashpower after 100, capped at 20%.
Bonus only apply if efficiency = 100%.
Miners Upgrades:
Because of the electricity consumption, spending Beetcoin to upgrade the Miner NFTs becomes a strategic action for optimization of mining pool efficiency.
The electricity consumption of a default Miner NFT is 1 electrical consumption point. As the Miner NFT upgrades, its electrical consumption decreases.
Upgrading a miner implies a simple roll mechanism. 1 Beetcoin = 1 roll. This cost is fixed.
With upgraded miners the chances of a successful roll decreases as the hashpower and electricity consumption improves.
Hashpower: +1 per successful roll, fixed on all levels.
Electricity consumption: -0.0125 consumption per successful roll
After 80 successful rolls per miner, electricity cost becomes 0 and stops decreasing.
After 90 successful rolls per miner, Max Level is reached with 100 hashpower, and consumption decreases from 0 to -1, meaning the miner reduces the total electricity cost of the pool (holder address) with -1 point.
Roll Chances:
10–20 Hashpower: 20%
21–30 Hashpower: 15%
31–50 Hashpower: 10%
51–60 Hashpower: 5%
61–80 Hashpower: 2.5%
81–90 Hashpower: 1%
91–95 Hashpower: 0.5%
96–99 Hashpower: 0.25%
100 Hashpower (Max): 0.1%
Roll Proceeds:
5% back to team.
95% sent to Fee Wallet.
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