Mining
Last updated
Last updated
LemonsChain offers a unique opportunity for participants to engage with the ecosystem and earn $LCT tokens through ownership of 12,000 exclusive NFTs. These NFTs, which represent digital lemon trees, are limited to 12,000 units and will be the only assets for mining in the project. Each NFT is priced at $1,000, and its ownership guarantees access to mine $LCT.
Inspired by Bitcoin's halving model, the mining system of LemonsChain reduces rewards over time to ensure economic sustainability and scarcity of the $LCT token. The model is designed to encourage continuous user participation and long-term engagement over a period of 15 years with a gradual mining process.
Total NFTs: 12,000 units
Price per NFT: $1,000 in $LCT
Attributes: Each NFT represents a digital lemon tree and serves as a "mining machine" to generate $LCT.
$LCT mining operates based on the ownership of NFTs from the LemonsTree collection. Each NFT, representing a virtual lemon tree, contributes with a daily amount of LCT distributed according to the mining blocks.
The amount of $LCT mined decreases over time, starting with the highest reward and progressively decreasing as the blocks advance. This system is designed to balance token distribution with the sustainability of the $LCT economy.
The mining of $LCT is organized into 6 blocks, each with a specific amount of LCT to be distributed. The amount of tokens mined per NFT per day decreases progressively as the blocks advance, with each block having a variable duration.
The NFTs mine $LCT daily, with rewards starting higher and decreasing over time. The system follows a structure inspired by Bitcoin's halving, where rewards per NFT decrease in each mining block, ensuring token scarcity and encouraging ongoing participation from users.
Each NFT starts generating 3 LCT per day in the first block.
Minimum Claim Amount: The minimum amount of $LCT to claim is 60 LCT.
Manual Claim: Users must manually claim their $LCT rewards.
The $LCT distribution will occur across 6 blocks, with progressively decreasing rewards as time passes, similar to the halving model. A total of 34,290,000 LCT will be distributed across multiple blocks, with progressively lower rewards over time.
Duration per Block: The estimated duration of each block varies but is around 15 years all 6 Blocks, depending on claim activity and system adjustments.
Total Mining Time: Approximately 15 years, with 34,290,000 LCT distributed across the blocks.
LemonsChain has implemented a set of security measures to ensure the integrity of the mining system:
Activity Auditing: Automated monitoring detects anomalies and prevents abuses in the mining process, such as bot activity.
Scarcity and Early Adoption: The decreasing reward system promotes early adoption and scarcity of $LCT, encouraging users to acquire NFTs early.
Financial Sustainability: Gradual reduction in rewards ensures a controlled supply of $LCT, maintaining economic stability.
Engagement and Participation: The requirement for manual claims encourages ongoing user interaction, keeping them engaged with the ecosystem over time.
Security and Transparency: The implementation of anti-fraud measures, such as activity auditing and claim limitations, maintains the system's integrity and prevents manipulation.
The $LCT mining model in LemonsChain integrates 12,000 exclusive NFTs with a structured reward system inspired by Bitcoin's halving model. With rewards decreasing over time and a manual claim mechanism, the mining process aims to engage users long-term and ensure the financial sustainability of the ecosystem.
The scarcity of rewards and the prolonged block durations create an environment where only the most engaged participants will benefit over time. With a strong security framework, LemonsChain ensures that all participants can mine in a transparent, secure, and effective way.
This model lays a solid foundation for the growth and appreciation of $LCT, while promoting strong community engagement and ensuring the long-term stability of the token.
