YFX Genesis Mining II

YFX Genesis Mining II

1、YFX Genesis Mining


Community (60%): Genesis Mining, Airdrop, other marketing activity and community rewards. These tokens will distribute to community in three years. 50% for the first year, 25% for the second and third year.


Strategic Partner (10%): 30% of this party will be released when YFX token start to distribute. 70% of this part will be linearly release in one year.


Team and Early investor (25%): 20% of this part will be released to team and early investor when YFX token start to distribute. 80% of this part will linearly release in one year for Early investor and two years for the team.


Strategic Investor (5%): This part will reserve for strategic investor in the future. 30% will be release immediately, the rest 70% will be linearly release in one year.





Economic model for YFX token:

1. 50% of the transaction fee received by YFX will used for token buy back on Uniswap, Mdex, JustSwap or other swaps.

2.  No more than 50% of insurance fund will be used for token back buy as well.

3.  YFX token could be used as margin in perpetual contract trading.

4.  Each YFX token have equal voting power.


YFX token distribute on different blockchain.

Blockchain

Total Supply

First Round Mining

Second Round Mining

ETH

50,000,000




3,000,000

Heco

10,000,000


3,000,000

BSC

10,000,000

Tron

10,000,000

OKChain

10,000,000



Polkadot

10,000,000

This number may vary, we may adjust the supply on each blockchain due to trading volume. The total supply amount and first round token amount won't be affected.


2、Mining Distribution

For the second round of genesis mining, there will be 3,000,000 YFX token mined out by Trade Ming, Liquidity Mining, Trading competition, and Invitation Reward. The second round will last for 10 day on ETH（xDai layer2）,Binance Smart Chain, Heco and Tron.


Second Round Genesis Mining details


Blockchain

Supply

Trade Mining

Invitation Rewards

Liquidity Mining

Trading Competition

ETH（xDai layer2）



3,000,000



2,400,000



200,000



300,000



100,000

Heco

Tron

BSC


Time Period: 12:00 April 6th, 2021 – 12:00 April 16th, 2021(UTC)

Blockchain：ETH（xDai layer2）、Heco、Tron、BSC


Mining Categories:

1、Trade Mining

2、Invitation Mining

3、Liquidity Mining

4、Trading Competition


Trade on:

ETH：https://xdai.yfx.com/ 

BSC: https://bsc.yfx.com/ 

Heco: https://ht.yfx.com/ 

Tron: https://trx.yfx.com/ 


Claiming mined YFX tokens:

After the second round mining, tokens will be distributed uniformly. It is estimated that the distribution time will be April 2021. Tokens will be collected or airdropped on each mining chain, and the mining tokens will be released 100% at the time without a lock-up period.


3、Genesis Mining II

Trading on the supported trading pairs can generate corresponding hash power, 1USD is equal to 1 hash power. Note that personal trading volume and the different blockchain will also have a bonus effect on computing power.


Supported Trading Pairs: 

ETH（xDai Layer2）

BTC_USDT(USDT)、ETH_USD(USDC)

Tron

BTC_USDT(USDT)

Heco

BTC_USDT(USDT)、BTC_USDT（HPT）

BSC

BTC_USDT（USDT) 


Trading mining rules:

1.During the event period, users can participate in mining by opening and closing positions in the designated trading pair, without registration.
2.If the opening time and closing time are not within mining time period, the hash power of the opening/closing position will not be calculated.
3.YFX Genesis Mining II is concurrent on four blockchains: ETH mainnet (xDai ), Huobi Eco-Chain Heco, TRON, and Binance Smart Chain BSC.

4. The mining rules are calculated as follows:

(1) The trading mining rewards in this period is divided into 30 blocks. Each block is calculated and mining independently. If the total trading volume of the current block reaches the target trading volume of the current block, a new block will be opened for mining. Until all the blocks are mined.

(2)When a new block is opened, the previous block will be settled. The block’s total hash power, user’s trading volume, user’s hash power, and my mining rewards of the previous block will be determined. and the next block will restart calculation
(3)If all the blocks are not mined at the end of the event, the system will settle the mining rewards according to the hash power on the deadline of the event.
(4)If the actual mining results largely deviates from the normal market behavior, YFX will dynamically adjust the target trading volume of the blocks according to the market behavior.


Block detail：

Block#

Target Trading Volume

Block Reward

1

100000000

80000

2

110000000

80000

3

120000000

80000

4

130000000

80000

5

140000000

80000

6

150000000

80000

7

160000000

80000

8

170000000

80000

9

180000000

80000

10

190000000

80000

11

200000000

80000

12

210000000

80000

13

220000000

80000

14

230000000

80000

15

240000000

80000

16

250000000

80000

17

260000000

80000

18

270000000

80000

19

280000000

80000

20

290000000

80000

21

300000000

80000

22

310000000

80000

23

320000000

80000

24

330000000

80000

25

340000000

80000

26

350000000

80000

27

360000000

80000

28

370000000

80000

29

380000000

80000

30

390000000

80000


5. Trading mining adopts the ladder hash power model to calculate hash power in segments according to the user's trading volume. If the user's trading volume exceeds the trading volume of the ladder 6, it will be calculated according to the ladder 6 hash power coefficient.

​At the beginning of each new block, the hash power rate returns to 1.

Ladder#

User’s Trading Volume

Hash Power Parameter

1

[0，2000000]

1

2

[2000000，5000000]

1.05

3

[5000000，10000000]

1.1

4

[10000000，20000000]

1.2

5

[20000000，30000000]

1.3

6

[30000000，99999999]

1.4


For example:

In the first block，Bob generated a total of 15 million USDT in trading volume during mining, and the corresponding hash power is:

The hash power of the ladder 1 is 2000000*1=2000000

The hash power of the ladder 2 is （5000000-2000000）*1.05=3150000

The hash power of the ladder 3 is（10000000-5000000）*1.1=5500000

The hash power of the ladder 4 is （15000000-10000000）*1.2=6000000

The total hash power is: 2000000+3150000+5500000+6000000=16650000

6.Since the trading volume and cost of trading on xDai, Heco, BSC, and TRON are very different, there will be a parameter for different public chains.

Blockchain

Parameter

ETH（xDai layer2）

1.1

heco

1

bsc

1

tron

1


For example: If Bob trades on xDai chain, his final hash power is: 16650000*1.1=18315000

His final hash power bonus is （18315000-150000000）/15000000=22%

7.Estimated mining reward for one block = My hash power for this block / Total hash power for this block * Total number of tokens in this block

4. Liquidity Mining

During the event period, users can participate in liquidity mining by adding liquidity in the designated liquidity pool.


The hash power of market-making liquidity mining is related to the amount of funds and the time when the funds participate in market-making. The platform will snapshot the share of the fund pool every minute and calculate the hash power.


Supported Pool: 

ETH（xDai layer2）

BTC_USDT(USDT)、ETH_USD(USDC)

Tron

BTC_USDT(USDT)

Heco

BTC_USDT(USDT)、BTC_USDT（HPT）

BSC

BTC_USDT（USDT) 


Rule of liquidity mining: 

1. You can obtain hash power by holding LP Token. The more you hold, the longer the holding time, the greater the hash power will be.

2. Estimated liquidity mining reward = my hash power/total liquidity mining hash power * total amount of tokens in the current period.

3. During the event period, if user’s LP Tokens are transferred, the user’s hash power will be cancelled.


5. Trading Competition

Supported Trading Pairs: 

ETH（xDai Layer2）

BTC_USDT(USDT)、ETH_USD(USDC)

Tron

BTC_USDT(USDT)

Heco

BTC_USDT(USDT)、BTC_USDT（HPT）

BSC

BTC_USDT（USDT) 


Rule of Trading Competition: 

1.The trading competition is ranked according to both profit and loss. The higher the profit and loss are, the greater the rewards are. For those with the most losses, YFX will reward part of the tokens for participation.
2.The time of the position opened should be within the mining period. If the opening time is not within the mining time, the hash power will not be calculated.

3. The ranking is updated every minute and calculated in real time based on the USD value of the profit and loss.


Ranking Reward

Place

Reward

1st place

8000 YFX

2nd place

5000YFX

3rd place

3000YFX

4~49th

1000 YFX each

4th last to 29th last

1000 YFX each

3rd last

3000YFX

2nd last

4000YFX

Last Place

5000YFX

6. Invitation Reward

Invite other friends to participate in YFX mining, and your address will receive 10% of the hash power gain.

Supported Trading Pairs: 

ETH（xDai Layer2）

BTC_USDT(USDT)、ETH_USD(USDC)

Tron

BTC_USDT(USDT)

Heco

BTC_USDT(USDT)、BTC_USDT（HPT）

BSC

BTC_USDT（USDT) 


Rule of Invitation Reward: 

1. During the mining period, users can invite friends to trade in the designated trading pool to receive invitation reward.

2. When invitee open and close positions, inviter can get hash power. The more friends you invite to participate, the more hash power the inviter can obtain.  1USD = 1 computing power.

3. Estimated invitation reward = my invitation hash power/total invitation hash power * total number of tokens in invitation reward.




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