Hey guys :)
Wooow what a week!
1. We shipped the first mining mechanism on @pumpdotfun
2. Implemented sustainable tokenomics (burn/reward system).
3. Creating mining pools with invites and multipliers
This is just the beginning! We will keep building and trying to develop new ideas. In the meantime, I’m so proud of the community forming around $pfBTC!
Tell everyone about $pfBTC. This is the safe haven asset of Solana
PROOF-OF-FUN MINING UPDATE
1) Mining pools allow users to team up and boost their individual mining success rates through collective participation.
2) How It Works:
I. Pool Creation
- Any user can create a mining pool with a name, description, and optional social links
- Each pool gets a unique 6-character invitation code (e.g., H3USX6)
- The creator automatically becomes a member
II. Joining a Pool
- Users can join an existing pool using its invitation code
- Users can only be in ONE pool at a time
- Must leave current pool before joining/creating another
III. Success Rate Boost System
- The pool applies a difficulty multiplier to each member's mining attempts
- This makes it easier to find valid blocks by lowering the required difficulty threshold
IV. Bonus Structure:
- Pool Creator: Gets a base 10% bonus (0.10 multiplier)
- Pool Members: Get a base 5% bonus (0.05 multiplier)
- Active Members Bonus: +1% for each a
- Active member in the pool (0.01 multiplier)
V. Active Members
- Members are considered "active" if they've mined within the last 24 hours
- More active members = higher bonus for everyone in the pool
3) How the Difficulty Multiplier Works
- When you mine with a pool bonus of, say, 8% (0.08):
- The system calculates: finalDifficulty = baseDifficulty * (1 + 0.08)
- This means if base difficulty is 10, your effective difficulty becomes 10.8
- The hash you find need to beat 10.8 instead of 10
Important: It's NOT additive - it's a multiplier on the difficulty, which translates to a higher success rate
4) Pool Statistics
- Tracks total attempts, successful blocks, and total rewards for the entire pool
- Tracks individual member stats within each pool
- Shows active vs total member counts
5) Pool Page Features
- View pool details, members leaderboard, and stats
- Creators can edit pool info
- Members can leave the pool
- Share pool invitation on social media
PROOF-OF-FUN MINING UPDATE
1) Mining pools allow users to team up and boost their individual mining success rates through collective participation.
2) How It Works:
I. Pool Creation
- Any user can create a mining pool with a name, description, and optional social links
- Each pool gets a unique 6-character invitation code (e.g., H3USX6)
- The creator automatically becomes a member
II. Joining a Pool
- Users can join an existing pool using its invitation code
- Users can only be in ONE pool at a time
- Must leave current pool before joining/creating another
III. Success Rate Boost System
- The pool applies a difficulty multiplier to each member's mining attempts
- This makes it easier to find valid blocks by lowering the required difficulty threshold
IV. Bonus Structure:
- Pool Creator: Gets a base 10% bonus (0.10 multiplier)
- Pool Members: Get a base 5% bonus (0.05 multiplier)
- Active Members Bonus: +1% for each a
- Active member in the pool (0.01 multiplier)
V. Active Members
- Members are considered "active" if they've mined within the last 24 hours
- More active members = higher bonus for everyone in the pool
3) How the Difficulty Multiplier Works
- When you mine with a pool bonus of, say, 8% (0.08):
- The system calculates: finalDifficulty = baseDifficulty * (1 + 0.08)
- This means if base difficulty is 10, your effective difficulty becomes 10.8
- The hash you find need to beat 10.8 instead of 10
Important: It's NOT additive - it's a multiplier on the difficulty, which translates to a higher success rate
4) Pool Statistics
- Tracks total attempts, successful blocks, and total rewards for the entire pool
- Tracks individual member stats within each pool
- Shows active vs total member counts
5) Pool Page Features
- View pool details, members leaderboard, and stats
- Creators can edit pool info
- Members can leave the pool
- Share pool invitation on social media
I will see $pfBTC across the timeline
I will see $pfBTC across the timeline
I will see $pfBTC across the timeline
Say it with me
I will see $pfBTC across the timeline
@ManuelL59606872 We will evaluate on if lowering the tokens required to burn is feasible. Possibly lower to 2500 and then finally 1000. But will have to work out the math and make sure it makes sense.