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Things have been pretty hectic lately, we created a new chain under KMD, we discussed many things trying to figure out the best options for the new DP and we came up with an interesting feature which is called the “Hodl reward plan”, in order to create this plan we premined 10 million coins, as you can see each plan has its amount of coins reserved:
# Hodl Reward Plans:
# 50k -> 7.5%/year (6 months period, 2,000,000 DP reserved)
# 100k -> 10%/year (6 months period, 4,000,000 DP reserved)
# 500k -> 15%/year (1 year period, 2,000,000 DP reserved)
# 1m -> 20%/year (1 year period, 2,000,000 DP reserved)
# Total 10,000,000 reserved for rewards.
Locking coins for a certain amount of time will give you the interest that is shown above, please remember that there is no way to unlock coins before, so be careful.
So the new DP will be POW & POS and distributed evenly 50% 50%
== Staking ==
One block every two minutes gives you around 262,980 blocks per year.
1,700,000 DP is approximately 5% of current supply ( 34,000,000 ).
For the first year after the chain being born, for a 5% inflation, we have a block reward of:
1700000 / 262980 = 6.464 DP per block.
Rewards end at block 6,884,282 (in approximately 26 years).
We also discussed the possibility to develop a Decentralized exchange and in order to do this we have premined 10 million coins that will be held in a multisig address, these coins will help pay for developers that take part in the project, we are currently working to see if we can form a team that will dedicate some time to it. Our vision of the exchange is that it has to be built around DP, trying to make an ecosystem. But many things can be discussed.
We have premined 1.5m coins for airdrops, if any of you have ideas for airdrops feel free to contact me as the more people we get involved the better.
We are still holding 2 million coins from the old fund, once we make the swap i will announce the addresses where these coins are held.
The Algo is Equihash just like KMD,
Explorer 1 : https://dp.explorer.komodo.top/
Explorer 2 : https://dp.explorer2.komodo.top/
Premine initial addresses:
== Mining/Staking Address (and original premine) ==
== Premine Address (34,000,000 – 400 for staking = 33,999,600) ==
== Hodl Rewards Address (10,000,000) ==
== Development Fund Address (10,000,000) ==
== Airdrop Address (1,500,000) ==
Swap ratio 1:1
The swap will take place on https://digitalprice.io/ on the 30th of august, what you will have to do is send over all your DP coins there by that date, the exchange will take care of swapping all the coins that are held there on the 31st, after that date it will be impossible to swap any coins, the only coins that i will manually swap are the 6.5 Million that Cryptopia is holding but only in case they open up withdraws and i will not swap coins that come directly from that address. We will give 6 months time for Cryptopia to come back, if they dont return those coins will go and refill the “Hodl Reward System”.