In order to further promote the ecological development and construction of BitCola.io, BitCola.io and STAKING (SKR) have reached a strategic cooperation and will start STAKING (SKR) resonance. This resonance will use Litecoin (LTC) as the resonance target. The collision and fusion of the first resonance and innovative blockchain projects.
STAKING project introduction
Project Name: STAKING (SKR)
Project Profile: STAKING is an asset management platform jointly developed by Tsinghua Cloud Computing Team and the largest data operation center in China for blockchain POS computing and decentralized financial solutions. STAKING's ecosystem includes PoS entrustment, DeFi decentralized finance and asset custody services, and is committed to providing a secure and efficient decentralized platform for digital asset participants.
High security: STAKING provides infrastructure support from the nation's most advanced data operations center to ensure stable and reliable node operations. The project has been developed by the Tsinghua Cloud Computing team for two years.
High revenue: Through STAKING's PoS node entrusted service, Investor 6 can obtain stable annualized income of at least 5%-155% according to network conditions, and the professional operation team ensures that the node 24x7 operated by STAKING operates safely and stably.
Official website: https://staking.pro
White paper: https://staking.pro/whitepaper/STAKING_OnepagerEN.pdf
STAKING (SKR) issuance and distribution
The total number of SKR issuance is 50 billion. The specific distribution method is as follows:
Resonance trading: a total of about 2,052 million pieces of SKR The resonance fund pool at the beginning of the project accounted for 4.05% of the total. As a release Token corresponding to the LTC resonance. Among them, the number of resonances in the bit cola is about 1 billion, accounting for about 2%.
STAKE mining: 51% of the total 25.5 billion SKR will be released in the form of mining. For more information on the operation of the resonance pool, see the white paper.
Private placement: 2% of the total, 1 billion pieces of SKR will be used as a private placement;
SKR Foundation: A total of 10.73 billion SKRs, accounting for 20.75%. Will be used as a foundation;
Promotion: A total of about 6.1 billion SKRs will be used for promotion, accounting for 12.20%.
Team incentives: a total of 5 billion SKRs, accounting for 10%. Will be used as a team incentive;
STAKING (SKR) resonance rule
The SKR resonance transaction is marked with LTC and the corresponding soft and hard top is set. And using the rules of linkage resonance, they can participate in STAKING wallet and cola resonance trading platform respectively, releasing about 4.05%, totaling about 2 billion tokens, STAKING wallet and cola resonating 1 billion respectively.
Soft top target: 5000 LTC
Hard top target: 50000 LTC
Resonance time: 20:00 on May 27, 2019 to 20:00 on June 27, 2019 (UTC+8)
If the soft top is not reached within the resonance time, the corresponding funds in the fund pool will be automatically returned to the corresponding account, and the SKR in the user account will be recycled. LTC will return the same amount. Resonance will be assigned according to the principle that the earlier the participation ratio is higher. The resonance will be divided into 1000 sub-stages. The higher the stage is, the higher the ratio is, and the more SKR is obtained. The first-order exchange ratio is 1SKR=0.0000147 LTC, and the ending round exchange ratio is 1SKR=0.0003576LTC. Each stage only matches 50 LTC. After reaching 50 LTC, it immediately entered the next stage, and the price increase in each round was 0.32% in the previous round.
Resonance release formula:
When n=1, C(1)= 3401360.54 SKR
When n>=2, C(n)= 50/0.0000147*(1+0.32%)^(n-1)
For example: 1. When at the beginning of resonance (first phase), n=1, the amount of SKR released = 3401360.54. At this time, the unit price of SKR is
0.0000147 LTC, approximately 0.001484 USDT (specific prices are based on current LTC prices). SKR pricing is based on LTC, and each round will release a certain amount of SKR according to the release formula.
In order to expand the ecological development of SKR and the long-term interests of the community, SKR will open the resonance locking mechanism. After the user participates in the resonance, 75% of the SKR will be locked and 25% will be available.
For example, if user A participates in resonance 100 LTC in the current period, it will automatically unlock 25% SKR, and the remaining 75% SKR part will be unlocked by resonance unlocking.
After the user participates in the resonance, the user can be unlocked by inviting the friend to participate in the resonance or the period to automatically unlock. The details are as follows:
The resonant lock section will be unlocked in two ways. After participating in the resonance, the remaining 75% of the locked portion will unlock 1% per day for a total of 75 days to unlock.
Invitation to unlock
The user can accelerate the unlocking by inviting the friend to participate in the resonance. Each time the user invites a friend to participate in the resonance, the user can unlock the quota, and the unlocking will be unified and unlocked after the end of each period. The specific calculation formula is as follows:
User unlock amount = invited friends to participate in the resonance amount *10%
For example, user A invites user B. User A currently locks the amount of 100 LTC to SKR, and user B participates in resonance 200 LTC. At this time, user A can unlock 200 * 10% = 20 LTC corresponding credit.
To further expand the SKR community and ecological development, SKR will introduce an invitation reward mechanism. After the user successfully invites the friend to participate in the resonance, the inviter can obtain SKR of the invitee's resonance amount of 1% as an invitation reward. This part of the invitation to reward SKR shares will be promoted through the promotion of funds in the pool, invitations will be paid in real time.
In order to stimulate the resonance participants to actively promote the expansion of the community, 30% of the resonance funds in the resonance pool will be used to reward users who participate in the resonance, and will reward the community through the resonance ranking reward and the lucky reward.
Resonance ranking: refers to the individual participating in the resonance amount ranking, the top five users will receive the personal resonance ranking reward. The distribution ratio is specifically: 4% for the first place, 2.5% for the second place, 1.5% for the third place, 1.2% for the fourth place, and 0.8% for the fifth place. Calculated as follows:
Personal resonance ranking reward amount = community promotion fund pool * personal ranking corresponding reward ratio
For example: User A, ranked first, the current total pool of funds is 30,000 LTC, then the personal resonance ranking can be rewarded: 30000*4%=1200 LTC
Fortunate rewards: SKR will randomly select 20 lucky ones from users who hold more than 20,000 SKR each week, and take out 20% of the LTC collected this week as a reward, and give the average 20 to the lucky users.
SKR project supplemental information
BitCola.io will continue to follow the development of SKR projects and community ecological construction. And will maintain long-term strategic cooperation with STAKING in the future. The following is a supplement to STAKING.
Official website: https://staking.pro
White paper: https://staking.pro/whitepaper/Staking_WhitePaper_CN.pdf
The development of the blockchain industry is changing rapidly. In order to cope with market changes and future industry development, and to prevent some malicious users from disrupting existing distribution rules through unfair competition such as technical means, the platform and SKR will retain the SKR resonant trading rules and distribution rules. To modify the rights, the platform and SKR have the right to make appropriate adjustments to the existing resonance rules to ensure the community rights and the healthy development of the community, and to ensure the sustainable development of the community and ecology.
The blockchain industry is still in the early stage of exploration and development, and there are high risks in the digital currency field, which has greater volatility than traditional assets. Users are familiar with the basic knowledge and risks of digital currency when investing. BitCola will also continue to explore and provide users with more quality projects and encryption assets. Thank you for your support and trust.
May 25, 2019