Datamine Network is an economic system model that was launched on the Ethereum through a set of advanced smart contracts. No one is in charge of this network, there are no owners/admin keys or team behind the Ecosystem.
While most DeFi tokens “lock-in” their tokens into Automated Liquidity Pools the Datamine (DAM) tokens can additionally be “locked-in” to another incentive: FLUX token minting.
When you lock-in your Datamine (DAM) tokens you will start earning a bit of FLUX every 15 seconds. For more details on how FLUX minting works check out our decentralized dashboard: https://datamine-crypto.github.io/realtime-decentralized-dashboard/
Great, so a bunch of FLUX is generated every 15 seconds, BUT WHAT IS THE ULTIMATE USE CASE FOR FLUX?
“FLUX is created to be destroyed”
In our deflationary Ecosystem FLUX is used as a form of fuel for Datamine (DAM) holders. DAM holders burn FLUX from a Uniswap pool (this is used as an M0 money supply) in order to accelerate their own FLUX production. This form of incentive has proven to be VERY effective at combating inflation only possible due to innovations in Smart Contracts.
Based on our new real-time analytics, we can show how our use case works. Currently 70.39% of FLUX has been permanently destroyed from the market (valued at over $250,000.00 USD based on our real-time metrics). These numbers are available on our new Open Beta analytics network:
That’s right, the best way to answer this question is to show you the actual numbers based on smart contract data. Since all data on Ethereum is permanent and our smart contracts are immutable and ownerless it’s possible to prove our use case through on-chain data.
We’ve built an on-chain 24/7 velocity where the token itself is the product and based on the 70.39% FLUX burned rate it’s currently in very high demand!
Currently 68.28% Datamine (DAM) (Currently valued at over $1,500,000.00 USD) are locked-in the FLUX minting smart contract.
These core metric numbers are important to see in real-time to understand the core concepts of the Ecosystem. For this reason we’ve created a completely new product unlike anything else on the market to look at smart contract data.
Instantly see smart contract data in a whole new dimension
We’ve crafted a data experience unlike anything you’re used to. All client navigations are answered instantly in realtime. There are no loading times in our network, only access to data shaped in any way we want.
Datamine DeFi Network Pro is now in Open Beta and can now be experienced here: https://datamine-crypto.github.io/datamine-pro-portal
It’s amazing to finally get to this stage but we’ve still got a lot of work ahead. There are more features to explore in the future such as:
All users in our network are connected together in real-time
As our network developed we’ve noticed an interesting unintended side effect: All users in the network could communicate together. But it went much further than that, users in our network could also look at the same pieces of content on the page.
This is where “Shared Widgets” came into play, we can now interleave multiple complex data points together in realtime and display that data to a group of users. This gives us access to a lot of new website experiences such as instant page loads.
We’re just beginning to scratch the surface of what we’ve created over here and there will be more functionality involving this P2P aspect of the network.
Where is the company / team behind Datamine?
Datamine is ran completely by the community. There are multiple decentralized Datamine communities that have spawned as the smart contracts are ownerless & immutable. No one can technically own Datamine as it’s completely decentralized.
The community recently raised over 20 Ethereum for our Datamine (DAM) & FLUX tokens Smart Contract audit. We’ll be able to share the findings as soon as we receive them. This community-funded audit is a huge achievement for as it was a decentralized effort proving Datamine support ❤
Be sure to check out our website and join our community! We’re very active on Discord so hop in and we’ll do our best to answer any questions you have: https://datamine-crypto.github.io/realtime-decentralized-dashboard/
Datamine Website & decentralized dApp: https://datamine-crypto.github.io/realtime-decentralized-dashboard/
New Network Open Beta: https://datamine-crypto.github.io/datamine-pro-portal/
Our Helpdesk: https://support.datamine.network/hc/en-us
Our Discord: https://discord.me/dataminenetwork
DAM/ETH Uniswap pool: https://uniswap.info/pair/0x447f8d287120b66f39856ae5ceb01512a7a47444
FLUX/ETH Uniswap pool: https://uniswap.info/pair/0x27fa67302c513f5512bbfa5065800c2d7b3871f4