Meer DeFi Liquidity Mining Phase 1 rewards pool rules (V1.0)

Overview

The significance of Meer DeFi’s first liquidity mining protocol is a milestone for Qitmeer Network, using the underlying public chain token MEER as the value carrier and the liquidity mining protocol as the consensus source to create a liquidity mining protocol for users to gain robust returns.

The rewards pool in the Meer DeFi liquidity mining protocol will play a positive role in promoting the growth and expansion of consensus.

Rewards pool overview

20% of the daily output of the Meer DeFi liquidity mining protocol flows into the rewards pool and the cumulative number of MEERs flowing in over the cumulative time is used to incentivize the growth of the Meer DeFi community consensus.

Please note: After each rewards pool cycle ends, the shared arithmetic power will not be accumulated to the next rewards cycle.

Tokenomics

  • As of April 6, 2022 rewards pool inflow ≈ 17,000 MEERs
  • 70% of 17,000 MEERs ≈ 11,900 MEERs will be rewarded in April (Phase 1)
  • The remaining 30% ≈ 5100 MEERs will be used as sinking funds (rules are not yet disclosed)
  • Reward Cycle: January 6, 2022, at 8:00 am Dubai time — April 6, 2022, at 8:00 am Dubai time (3 months cumulative)

Rewards Qualifications

Meet the following 2 conditions to be eligible for the rewards.

  • Stake 3000 USDT/lock-in 360 days (as of the last time of data statistics, the minimum lock-in time remaining is not less than 181 D)
  • Share arithmetic greater than 2000+ (share arithmetic X destruction multiplier)

Rewards calculation conditions

Basic calculation rule: USDT quantity x funding multiplier x time multiplier

Sharing arithmetic calculation rule: Subtract the largest sharing arithmetic among the direct sharers and add up the remaining sharing arithmetic

Please note: If there exists only one sharer who provides share arithmetic, the shared arithmetic is 0 after subtraction, and the weight of share arithmetic is also 0, but you can enjoy the base arithmetic REWARD weight.

Weight calculation

20% basic arithmetic + 80% shared arithmetic (weighted rewards)

Basic arithmetic: x

Shared arithmetic: y

Calculation formula: 11900 * 20% * x / (x1+x2+x3+………) +11900 * 80% * y / (y1+y2+y3+……..)

Example.

Assume that the fixed data.

The total basic arithmetic power of reward eligible addresses is 1 million

The total sharing arithmetic power of reward eligible addresses is 2 million

Assume that the REWARD address data: Base arithmetic power 5000, shared arithmetic power 40000 (minus the largest shared arithmetic power among the directly shared people)

Calculation.:11900*20%*(5000/1 million) + 11900*80%*(40,000/2 million) = 202.32 / MEER

Attachments.

reward eligibility submission portal: https://defi.meer.biz

Note: You can only apply when you meet the two requirements stated above.

About Qitmeer

Qitmeer is the next-generation public chain based on BlockDAG which is dedicated to serving the ecosystem of Islamic Finance, ethical finance, and socially responsible investment, thereby enhancing financial inclusion and creating social impact.

In contrast to the competition model, BlockDAG’s collaboration model in the mining achieves a desirable balance of typical blockchain metrics among the security, openness, fairness, and scalability.

Qitmeer adopts a classic POW consensus and UTXO data model and designs a unique asset issuing mechanism which requires the reserve of native currency, which is in line with core ethical financial values.

Contact Us

Website / Qitmeer talk / GitHub / Twitter / Facebook / Telegram / Instagram / LinkedIn

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Qitmeer Network is the next generation payment network infrastructure based on BlockDAG technology.

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Qitmeer Network

Qitmeer Network

Qitmeer Network is the next generation payment network infrastructure based on BlockDAG technology.

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