Proposing some changes to the (Typecoin)TPC mining.
Hello everyone, as stated on our last post that we will be expanding the sections we have improved and the ones we want to improve. This post contains information on how we want to improve on the Typeearn mining/earn section.
There have been some issues on the mining of the TPC tokens. Looking on the investment side, there are issues huge stakeholders might have in the current mining system, which we use the Word typed as the multiplier. The major issue is the possible return on investment. We had some brainstorming moment to create a way that mining would be more attractive for huge TPC holders, and we concluded on having a constant power attached to every badge on Typeearn.
Proposing Badge Power on Typeearn
The current earning/mining metrics is Word typed, multiply by the WPM + the 40% of the token held in the wallet (Type Power) all divided by the numbers of TPC holder in addition to 1000 constant divisor. This algorithm worked well during the early stage of the project, but considering the future we are driving at, there is a need for some changes, which is why we introduce the Badge power.
We have the Flamingo, Pelican, Bustard, Swan, Penguin and Ostrich badge. Currently, the only benefit for these badges is the additional mining rounds for each of them. I.e, the Pelican badge holder has fewer rounds to mine than that of Bustard. But in other to earn on Typeearn a little commitment and investment must be made, so we consider the ROI for all badges.
The word typed had no reasonable value in the mining activities, rather, the WPM, the mining rounds and the proposed badge power are deemed valuable. Therefore, we are planning to strike out WORD TYPED in the mining algorithm and include a constant value for each badge.
Proposed Badge Power constant value.
Instead of Word Typed, these values will be attached to the badges.
|Flamingo (5)||Pelican (15)||Bustard (30)||Swan (55)||Penguin (70)||Ostrich (85)|
These imply that for every mining rounds, Badge power will be multiplied by the WPM + the 40% of the token held in the wallet (Type Power) and all divided by the numbers of TPC holder in addition to 1000 constant divisor.
For instance, if someone with the Ostrich badge has the 50 WPM. The mining goes thus:
85 * 50 + 4000 / 1800(The current divisor)= This will mine 4.58TPC in a typing round. This is not really possible in the current mining algorithm.
Furthermore, we made some changes to the rounds for most of the badge, Flamingo excluded.
|3 times daily||5 times daily||7 times daily||9 times daily||11 times daily||13 times daily|
Also, there will be a new stride for the badges to be attained. There aren't many changes, but this looked more organized than the current figures.
|20-500 TPC||500-2,000 TPC||2,000-4,000 TPC||4,000-6,500 TPC||6,500-9,500 TPC||9,500 TPC Above|
In the current badge system, users must have a minimum of 10,000 TPC to have the Ostrich badge, but it has been reduced to 9500TPC.
All these are not implemented yet, but we would love to change this part of the system to what we propose here. However, we would like to know your opinions on this proposal. Also, if we are to proceed with this, we will be gifting out some TPC to users with the badge above the Flamingo badges for quick stability of the system.