Sustainable Mining Principles
1. FCoin will ensure the stability of mining output through the control and adjustment of daily return, that’s why it is called “Sustainable Mining”.
2. All FTs that are returned by Sustainable Mining will be locked for 1 year and automatically unlocked after 1 year (calculated from the date of distribution). These FT will enjoy all community interests such as dividends and voting during the lockup period.
3. All FT Sustainable Mining issued is from the FCoin Fund. The dividends received by the remaining FT held by the FCoin Fund are still used for repurchasing and destruction of the FT, in line with existing policies.
Interpretation of output stability:
All forms of mining that we have or will be launching are based on fixed or controllable output. By adjusting and controlling the output of different mining forms, we ensure that the total daily output complies with the Announcement on FCoin Sustainable Mining FT reward return plan.
Take 90 days as a return term. Through the control and adjustment of the return amount from various mining methods of each period to guarantee the daily average FT return within the plan (which means no more than the planned FT amount will be returned).
The mining return plan is grouped in every 4 terms, as follows:
The first group: During the first term, the initial daily return of the original plan is 3 million. From the 2nd to the 4th term, the FT return per term will be reduced by 50% from the previous term.
Group 2: From the 5th to the 8th term, the FT return of each term will be reduced by 25% from the previous term.
Group 3: From the 9th to the 12th term, the FT return of each term will be reduced by 12.5% from the previous term.
Group 4: From the 13th to the 16th term, the FT return of each term will be reduced by 6.25% from the previous term.
According to the above plan, the FT return for the first four groups are as follows:
The first group: The daily FT returns for the first term is 3 million, 1.5 million for the second term and 750,000 for the third term while 375,000 for the fourth term. The total FT return of this group is 506.25 million.
Group 2: The daily FT return for the fifth term is 281,300, 210,900 for the sixth term and 158,200 for the seventh term and 118,700 for the eighth term. The total FT return of this group is 69.21 million.
Group 3: The daily FT returns for the ninth term is 103,800, 90,800 for the tenth term, 79,500 for the eleventh term while 69,600 for the twelfth term. The total FT return of this group is 30.93 million.
Group 4: The daily FT returns for the thirteenth term is 65,200, 61,100 for the fourteenth term, 57,300 for the fifteenth term and 53,700 for the sixteenth term. The total FT return of this group is 21.36 million.
According to calculations, a total of approximately 1.429 billion FT will be returned when sustainable mining is carried out as planned to the 57th group. Considering the current FCoin Fund balance of approximately 1.43 billion:
The FCoin Fund balance will be mined out after 57 years, that is Sustainable Mining will last for at least 57 years (each group lasts for 360 days, about 1 year).
See the Sustainable Mining page for details.