Detailed Mining rules
To ensure the balance of mined CP, we introduce Mining Difficulty Mechanism. CoinPark will adjust the intraday mining difficulty basing on the total mined amount and difficulty level of the previous day. The latest mining difficulty index will be updated every day at 08:00(GMT+8). Details are as following:
Hourly mined amount = (Your locked CP/ 5000) * Mining difficulty index
1). The original mining difficulty index: 500CP/hour
Mining difficulty means the amount of CP available to mine after all accounts have locked 5000CP. In another word the more CP a user locks, the more CP available to mine hourly.
2). Locked Position: Locked position will be effective immediately anytime. The mining difficulty index will be effective after a locked position.
3). Unlocked Position: Unlocked position will be effective immediately anytime. The unlocked CP will be returned to the original account in 24 hours.
4). Locked CP can still enjoy dividend from holding CP
5). Locked and unlocked amount has to be an integral multiple of 5000CP;
6). CoinPark will take a snapshot of your locked position within the first 10 minutes of every hour randomly and accordingly set a limit of available CP you can mine hourly
You have locked 100,000CP, 95,000CP of which is unlocked before 08:10. Therefore your mining difficulty, between 08:00 to 09:00, may be adjusted to 800CP/hour from 10,000CP/hour.
7). CoinPark reserves the right of final interpretation of changing the mining rules.
What is CP? (CoinPark Token)
CP is an abbreviation of CoinPark Token and is an Ethereum ERC20 standard token. CP was generated through the "transaction is mining" method, with a total of 10 billion, of which 60% was excavated by miners, and the remaining 40% was pre-issued and frozen. The frozen portion was also thawed daily as miners began digging.
- Community Awards (Mining)---60%
- CP Fund 22%
- Team 12%
- Private placement 6%
- Community incentives: 60% of CPs are gradually allocated to trading users through "transaCPions or mining".
- Pre-issuance: 40% of CPs are held in advance by fund, team, and private equity investors (along with mining thawing)
Pre-release partial thaw rules:
In order to ensure that all people receive equal income rights, CPs of the “pre-release section” are frozen and thawed according to the following formula:
Number of daily thawing = total amount of pre-issued CP * (total output of mining the previous day / total amount of community incentives)
* Official reserves the right to make changes to the event rules based on actual operations, please pay attention to the official announcement.