Pledging and Mining
- Designated Quorum signs on the first transfer of NFT/RBT but doesn’t pledge; Pledges 50% of signed transfer value of he said NFT/ RBT on the next transfer.
Example
A transfers 1 RBT to B
- New Quorum Q6,Q7,Q8,Q9,Q10 signs this transaction;
- Previous Quorum Q1,Q2,Q3,Q4,Q5 pledges 0.5 RBT against the value of 1 RBT signed
previously
Now B transfers the same 1 RBT to C
- New Quorum signs the transaction and
- Previous Quorum Q6,Q7,Q8,Q9,Q10 pledge 0.5 RBT.
Minimum staking for one week if token state unchanged
Auto replacement with new quorum after one week in type 1 quorum
Proportional credits for staking period less than a week
RBTs held by subnets can also participate in type 1 (Main net) quorums
| Level | Cumulative Tokens | Tokens Issued | Mainnet credits per week per RBT | Subnet credits per week per RBT | Credits to mine |
|---|---|---|---|---|---|
| 1 | 43,00,000 | 43,00,000 | 0.125 | ||
| 2 | 67,25,000 | 24,25,000 | 16 | ||
| 3 | 90,28,750 | 23,03,750 | 32 | ||
| 4 | 1,12,17,313 | 21,88,563 | 5 | 0.500 | 64 |
| 5 | 1,32,96,447 | 20,79,134 | 5 | 0.556 | 128 |
| 6 | 1,52,71,625 | 19,75,178 | 5 | 0.625 | 256 |
| 7 | 1,71,48,043 | 18,76,418 | 5 | 0.714 | 512 |
| 8 | 1,89,30,641 | 17,82,598 | 5 | 1.429 | 1024 |
| 9 | 2,06,24,109 | 16,93,468 | 5 | 2.500 | 2048 |
| 10 | 2,22,32,904 | 16,08,795 | 5 | 5.000 | 4096 |
Assume a validator who offers 100 RBTs for pledging and say in 52 weeks, out of maximum 5200 ( 52x100) weekly pledges possible, say randomization of pledging across validators results in 800 weekly pledges(15.3% probability). At level 4 , this would result in 800x5 , 4000 credits accrued in 52 weeks = 62.5 new RBTs
Annual Yield of 62.5%
Assume that in a sub net 100 RBTs are under continuous pledge for 52 weeks. At level 4 , this would result in 100x52 x(0.500) = 2600 credits accrued in 52 weeks = 40.625 new RBTs
Annual Yield of 40.625%
- Work assigned to ‘verification of credits claimed’ to validators as distinct transactions.
- Work assigned would be in chunks of 64, 128, 256 and so on so forth starting from level4.
- Validators need to provide 2 RBTs to participate in mining logic verification. These 2 RBTs would be locked for a period of 4 weeks( cooling period for newly minted RBT)
- Newly minted RBT would be in genesis node in the 4 week cooling period and cannot be used by the owner
- The 4 week period is for any challenges by the network against the validation process.
- In case of a successful challenge the RBTs provided by the validator would be slashed and the new RBT mined would also be cancelled.