5.8 FDT Lock-up Mining
In order to motivate more long-term value investors, FireDAO will launch an FDT Lock-up Mining. Each community member can lock FDTs into the mining pool, assign different weight coefficients according to various lock-up period and can mine the incentive token FLMs. The obtained FLMs can be converted to FDTs, which will be released linearly within two years.
Different mining weight coefficients are determined by various lockup period. The longer the lock-up is, the higher the mining weight will be. The protocol relies on the number of SBT-006 to implement specific mining reward policy.
During this lock-up, the protocol mints two SBTs: SBT-001 and SBT-006. SBT-001 is mainly used to contain the FDT comprehensive holding information of this Soul Account, and SBT-006 is to contain the lock-up mining information for this Soul Account. The whole ecology distributes the ecological income according to the proportion of holding weight of the SBT-001, and rewards the lock position mining according to the proportion of holding weight of the SBT-006.
The minting quantity of SBT-001 is determined by the number and weight coefficient of FDTs during the lock-up. If 10,000 FDTs are locked, for example, the period for 3 months, and the weight coefficient is 3, then the minting amount is 30,000 SBT-001s. If the lock-up matures and FDTs need to be withdrawn from the mining pool, the same proportion of SBT-001s will be burned according to the proportion of withdrawal from the lock-up order. If the lock-up time ends and FDTs are not withdrawn from the lock-up pool, the original policy remains effective.
The minting quantity of SBT-006 is determined by the number of FDTs and the weight coefficient during the FDTs lock-up. If 10,000 FDTs are locked for 3 months, and the weight coefficient is 3, then 30,000 SBT-006s will be minted. If the lock-up matures and FDTs need to be withdrawn from the mining pool, the same proportion of SBT-006 will be burned according to the proportion of FDTs withdrawal from the lock-up order. If the lock-up time ends and FDTs are not withdrawn from the lock-up pool, the FDTs original policy still remains effective.
FDT Lock-up Mining Weight
1.
Demand deposits,
can be withdrawn on T+1
1
2.
1 month
2
3.
3 months
3
4.
6 months
4
5.
12 months
5
6.
24 months
6
7.
36 months
7
The specific policy regarding FDT lock-up mining, please refer to the actual operating documents in the future.
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