What is Datamine (DAM)?
Datamine (DAM) is a new decentralized and non-custodial open-source economic system that uses smart contracts to generate Adaptive Money. Their deflationary DeF protocol generates FLUX tokens every 15 seconds.
What is DAM?
The Datamine token is a standard ERC-777 implementation and is deployed on the Ethereum mainnet with a fixed supply of 25,000,000 DAM. 16,876,778.9 DAM tokens were eventually swapped out, and 8,123,221.1 DAM tokens were burned. To launch the DAM / FLUX token ecosystem, they have opted to use a fair distribution of the two-year-old Bulwark blockchain.
All extensions on the base token are done through the new ERC-777 “Operator.” This feature allows other Ethereum addresses to work on behalf of your account. Instead of another address, we used this functionality to grant another smart contract operator role.
What is FLUX?
FLUX token is a NON-FIXED offer token in our ecosystem that will be used for all future use cases. Since it’s not fixed and has predictive mining capabilities, they can create more “spendable” use cases without having to worry about the fixed provisioning nature of the DAM token.
DAM lock / unlock: To generate FLUX dividends, you need to lock some DAMs. There is no minimum amount, unlike master/staking nodes, and the rewards are linear and predictable.
Mint delegation: Once you lock your DAM, you can assign an Ethereum address to cast on behalf of your address.
Remote mint: So you can mint FLUX from your phone to any Ethereum address, even though the DAM is stored on your hardware wallet.
Remote burn: So you can burn your FLUX from the targeted phone to your hardware wallet.
Partial mint: You can specify how much mint you want to be sent to a specific address. This way, you can prove it quickly and withdraw money to your friends without having to write down the entire amount.
3x Time Bonus: After you have locked the DAM for at least 24 hours, you will begin to receive a small mint multiplier every 15 seconds. This lasts for 28 days, after which you can get a permanent reward (until you unlock the DAM) for your FLUX mints.
10x Burn Bonus: If you burn 9x the global average, you will receive 10x the mint rate. This is a global number based on the number of DAMs currently locked and the amount of FLUX of these locked addresses burned. (Keep in mind that the formula is ratio-based, so by locking in 10 DAM, you’ll need ten times the amount of writing than the key in 1 DAM). You can think of it this way: (All the FLUX I’ve ever burned/locked my DAM) should be nine times bigger (FLUX burned globally for only users who are currently global DAM locked/locked)
The dividend bonus is exponential. So you can get FLUX casting speed up to 30 times. You should get the maximum casting rate 30 times at the time of FLUX casting, so this means you will most likely buy some FLUX first and burn it to your address if you are not at max multiplier yet before minting your FLUX.
The dual token protocol rewards users for destroying FLUX tokens from circulation to create dynamic market equilibrium using real-time on-chain supply and demand.
FLUX is simply a measure of the times that can be traded to reduce global inflation and increase dividend rates. The dividend rate can be increased with the time of purchase.
FLUX’s value stems from borrowing a portion of dividends worldwide when burning FLUX.
With a fixed supply of DAM tokens, the developers decided to approach how to use the token in a different way. Instead of using DAM tokens, they propose a new “lock to mint” mechanism. With the key to money, you can lock your DAM token in a smart contract. The locking of these funds is done in a completely decentralized way where you control the funds and can be re-unlocked at any time to get back 100% of the locked DAM tokens. However, if you leave your money locked in a smart contract, you will receive a FLUX dividend to encourage security. The first token to use it was called FLUX.
Datamine Network is the emerging DeFi dApp leader thanks to a powerful, feature-rich, decentralized user console that allows people to interact with our smart contracts. Get real-time on-chain market sentiment and see your balance in USDC with our deep Uniswap integration. Instant worldwide market cap, balance, and Datamine (DAM) / FLUX token analysis at your fingertips.