Proposing some changes to the (Typecoin)TPC mining.
Hello everyone, as stated on our last post that we will be expanding the sections we have improved and the ones we want to improve. This post contains information on how we want to improve on the Typeearn mining/earn section.
There have been some issues on the mining of the TPC tokens. Looking on the investment side, there are issues huge stakeholders might have in the current mining system, which we use the Word typed as the multiplier. The major issue is the possible return on investment. We had some brainstorming moment to create a way that mining would be more attractive for huge TPC holders, and we concluded on having a constant power attached to every badge on Typeearn.
Proposing Badge Power on Typeearn
The current earning/mining metrics is Word typed, multiply by the WPM + the 40% of the token held in the wallet (Type Power) all divided by the numbers of TPC holder in addition to 1000 constant divisor. This algorithm worked well during the early stage of the project, but considering the future we are driving at, there is a need for some changes, which is why we introduce the Badge power.
We have the Flamingo, Pelican, Bustard, Swan, Penguin and Ostrich badge. Currently, the only benefit for these badges is the additional mining rounds for each of them. I.e, the Pelican badge holder has fewer rounds to mine than that of Bustard. But in other to earn on Typeearn a little commitment and investment must be made, so we consider the ROI for all badges.
The word typed had no reasonable value in the mining activities, rather, the WPM, the mining rounds and the proposed badge power are deemed valuable. Therefore, we are planning to strike out WORD TYPED in the mining algorithm and include a constant value for each badge.
Proposed Badge Power constant value.
Instead of Word Typed, these values will be attached to the badges.
| Flamingo (5) | Pelican (15) | Bustard (30) | Swan (55) | Penguin (70) | Ostrich (85) |
|---|
These imply that for every mining rounds, Badge power will be multiplied by the WPM + the 40% of the token held in the wallet (Type Power) and all divided by the numbers of TPC holder in addition to 1000 constant divisor.
For instance, if someone with the Ostrich badge has the 50 WPM. The mining goes thus:
85 * 50 + 4000 / 1800(The current divisor)= This will mine 4.58TPC in a typing round. This is not really possible in the current mining algorithm.
Furthermore, we made some changes to the rounds for most of the badge, Flamingo excluded.
| Flamingo | Pelican | Bustard | Swan | Penguin | Ostrich |
|---|---|---|---|---|---|
| 3 times daily | 5 times daily | 7 times daily | 9 times daily | 11 times daily | 13 times daily |
Also, there will be a new stride for the badges to be attained. There aren't many changes, but this looked more organized than the current figures.
| Flamingo | Pelican | Bustard | Swan | Pengiun | Ostrich |
|---|---|---|---|---|---|
| 20-500 TPC | 500-2,000 TPC | 2,000-4,000 TPC | 4,000-6,500 TPC | 6,500-9,500 TPC | 9,500 TPC Above |
In the current badge system, users must have a minimum of 10,000 TPC to have the Ostrich badge, but it has been reduced to 9500TPC.
All these are not implemented yet, but we would love to change this part of the system to what we propose here. However, we would like to know your opinions on this proposal. Also, if we are to proceed with this, we will be gifting out some TPC to users with the badge above the Flamingo badges for quick stability of the system.
Thanks you!
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@typeearn team
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Being a consistent user of this platform I like all your efforts to make this platform amazing for user and bringing masses here on this platform.
In my 2 cent opinion Proposed Badge Power constant value should be increased. 85 number is great for Ostrich but it is too low for Flamingo (5). It should be started from 15 for Flamingo, 30 for next stage, 45 for next 60 for the next 80 for the next and 100 for the ostrich.
At least with suggested constant value Flamingo can mine 1 TPC every day. It is very important to bring new faces on TPC. It is only possible if the platform will give some attractive offer to them. On the other hand there is no need to reduce Ostrich badge to 9500. It must be 10,000. This is my 2 cent suggestion. By the way I like the gifting out TPC to user. All the best. @teamtpc
Hey @kamchore, thanks for your contribution. The Flamingo badge is the easiest to have and we thought how we could discourage multiple accounts. If someone that invested only 20TPC can mine them back in just 20days, such will be willing to sell as any value. We are looking at the direction where value could be give back to people that want real value. Every badge are unique but no need for comparison. We could increase the badge power for other badges as you have stated. But it could be different for the Flamingo badge.
Regarding the 500 that reduced from the Ostrich badge, it is to keep stability in the figure, but we could follow your suggestion. Thanks!
Let me admit that I missed the multiple accounts point while giving my suggestion. I really appreciate your well thought system about the constant value. I wish you all the best for making this platform amazing and great. @tykee