Everyone in the crypto industry will soon be talking about this #Islamiccoin project, so don't miss the opportunity to buy its #ISLM token on exchanges right now!
By the way, a very informative article explaining the staking process in the #HaqqNetwork
LIVEH00riyah
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Century Coinomics: Understanding ISLM and Staking on HAQQ Network
Assalamu allaikum and greetings fellow crypto enthusiasts and Islamic Coin Maxis! Today, we're diving into the dynamics of ISLM's supply, distribution, and the power of staking on HAQQ Network.
What is Staking?
Staking involves locking your ISLM coins by bonding them to validators. These validators maintain the HAQQ Network, and by bonding your coins, you delegate voting power to validators. This also turns you into a delegator, granting you the ability to earn rewards and participate in network governance through the Tendermint BFT consensus mechanism.
The Mainnet Launch and Minting
Upon HAQQ Mainnet launch, new coin minting is temporarily halted. This is part of a strategy called Proof of Authority consensus, where the Core Team controls a limited set of validators. This approach ensures proper testing of Century Coinomics and familiarizes the HAQQ community with staking and validator operation.
The HAQQ public Testnet, however, will be launched with Proof of Stake and minting enabled. After evaluation and stability confirmation, minting will be activated on the Mainnet. This expansion also involves transitioning from the Core Team's restricted validator set to an open set.
$ISLM Distribution and Supply
As minting resumes, every block generates new ISLM coins along with collected gas fees. These are distributed among validators, delegators, and the Evergreen DAO:
- 10% goes to Evergreen DAO
- 1% to 5% benefits a block proposer and its delegators
- The remainder is proportionally divided among bonded validators and their delegators.
Delegator rewards are based on the amount of their delegation relative to the total, including the validator's self-delegation.
ISLM Supply and Era
The supply of ISLM is capped at 100 billion coins. Each Era, which spans 2 years, sees a 5% reduction in emission rate. Emission stops 100 years from the first block of the first Era. The initial Era mints 4.33% of coins, followed by 4.12%, and the 9th Era sees 2.87% minted. Over 50% of the total supply is minted by the 9th Era's end, including the initial 20 billion supply. The 50th Era concludes with 100% (100 billion ISLM) minted.
Initial Supply Breakdown
The initial 20 billion supply breakdown:
- 2 billion for the Evergreen Foundation
- 5.5 billion for Partners (boards, initial supporters, promoters, market makers)
- 4 billion for Initial Private Sale to qualified investors
- 5.5 billion for Business reserve and ecosystem development fund
- 3 billion for Founders Reward
Coins dedicated to the Evergreen DAO remain
locked until deployment on Mainnet #BTC #USTC #cryto2023 #crytocurrency
What is Staking?
Staking involves locking your ISLM coins by bonding them to validators. These validators maintain the HAQQ Network, and by bonding your coins, you delegate voting power to validators. This also turns you into a delegator, granting you the ability to earn rewards and participate in network governance through the Tendermint BFT consensus mechanism.
The Mainnet Launch and Minting
Upon HAQQ Mainnet launch, new coin minting is temporarily halted. This is part of a strategy called Proof of Authority consensus, where the Core Team controls a limited set of validators. This approach ensures proper testing of Century Coinomics and familiarizes the HAQQ community with staking and validator operation.
The HAQQ public Testnet, however, will be launched with Proof of Stake and minting enabled. After evaluation and stability confirmation, minting will be activated on the Mainnet. This expansion also involves transitioning from the Core Team's restricted validator set to an open set.
$ISLM Distribution and Supply
As minting resumes, every block generates new ISLM coins along with collected gas fees. These are distributed among validators, delegators, and the Evergreen DAO:
- 10% goes to Evergreen DAO
- 1% to 5% benefits a block proposer and its delegators
- The remainder is proportionally divided among bonded validators and their delegators.
Delegator rewards are based on the amount of their delegation relative to the total, including the validator's self-delegation.
ISLM Supply and Era
The supply of ISLM is capped at 100 billion coins. Each Era, which spans 2 years, sees a 5% reduction in emission rate. Emission stops 100 years from the first block of the first Era. The initial Era mints 4.33% of coins, followed by 4.12%, and the 9th Era sees 2.87% minted. Over 50% of the total supply is minted by the 9th Era's end, including the initial 20 billion supply. The 50th Era concludes with 100% (100 billion ISLM) minted.
Initial Supply Breakdown
The initial 20 billion supply breakdown:
- 2 billion for the Evergreen Foundation
- 5.5 billion for Partners (boards, initial supporters, promoters, market makers)
- 4 billion for Initial Private Sale to qualified investors
- 5.5 billion for Business reserve and ecosystem development fund
- 3 billion for Founders Reward
Coins dedicated to the Evergreen DAO remain
locked until deployment on Mainnet #BTC #USTC #cryto2023 #crytocurrency
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