Qitmeer Network Weekly Report (2022/4/8–2022/5/5)

Qitmeer Network Development Report

News

• The seventh period of Qitmeer Umayyad 1.0 “Majority Game” has ended at the main height of 630000(order=706767), with a total lock-up amount of 5399277.18559848 meer and a staking rate of 42.85%.
• The total locking amount of Guard Pool and Honor Pool are 2784523.80793284 meer and 2614753.37766564 meer respectively, with a minimum base profit of 2.35% (28.2% annualized) and a maximum of 11.77% (141.24% annualized) in the Guard Pool and a minimum base profit of 2.51% (30.12% annualized) and a maximum of 12.56% (150.72% annualized) in the Honor Pool.
• The total newly added amount is 857120.51336049 meer in the seventh period, and the Guard Pool is 509508.52282850 meer, the Honor Pool is 347611.99053199 meer.
• The competitive incentive winner of the seventh period was the Guard Pool, which received an additional competitive incentive of 86400 meer with an additional return of approximately 16.96%.
• At present, the eighth period of the “Majority Game” is the first phase, and as of block 712000, the total locking amount has reached 5422202.58559848 meer, with a current staking rate of 37.65%. The first threshold has been reached.
• The Guard Pool newly added 12655.4 meer and the Honor Pool added 10270 meer, for a total of 22925.4 meer.
• In its current status, the Guard Pool has a base return of 7.82% (93.84% annualized), the Honor Pool has a base return of 8.33% (99.96% annualized).
• If the total lock amount increases by another 338000 meer, the staking rate will reach 40%, at that time, the single pool basic incentive will increase from the current 218700 meer to 349920 meer.

Project Development Progress

Core Code Update

• Added swap test logic.code: https://github.com/Qitmeer/qng/pull/81
• Added RPC interface for P2P:addPeer ping pause.code:https://github.com/Qitmeer/qng/pull/83
• Optimized meerdag about new orders.code: https://github.com/Qitmeer/qng/pull/85
• Remote GBT Worker support CoinbaseFlagsDynamic.code: https://github.com/Qitmeer/qng/pull/86
• MeerEVM update and creating genesis alloc.code: https://github.com/Qitmeer/qng/pull/87
• MeerEVM:support deployment genesis contracts.code: https://github.com/Qitmeer/qng/pull/89
• MeerEVM:support block gas limit config.code: https://github.com/Qitmeer/qng/pull/90
• Added token transferFrom check.code: https://github.com/Qitmeer/qng/pull/91

What is MEER

MEER DEFI Introduction

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.

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