Purpose of the proposal:
The principle of the establishing of Implementation Plan of FCoin Sustainable Mining and Income Distribution Adjustment is: “Through the control and adjustment of the daily return amount, we make the mining output relatively stable and can guarantee the mining duration of at least three years”, the purpose of this proposal is further thinning the establishing rules and regulate clear and predictable FT Mining return and guarantee the duration of sustainable mining
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 second to a fourth term, the FT return per term will be reduced by 50% from the previous term.
Group 2: Term 5 to 8, FT return of each term will be 25% lower than the previous one.
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. 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, 79,500 for the eleventh while 69,600 for the twelfth. 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 fourth, 57,300 for the fifteenth and 53,700 for the sixteenth. 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).
March 18th to April 17th is the trial stage of Sustainable Mining. The trial operation of Sustainable Mining operation will end on April 18th and officially entered the first term.
Consensus Resolution: PASS
Not state: 巴菲特。
FCoin Community Committee Secretariat
April 15, 2019