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Deeper Network's EZ Mining

Deeper Network's EZ Mining

The plans below are subject to changes and will all be confirmed by Oct 2022.

What is EZ Mining?

EZ Mining is simply a natural progression of many mining programs which evolve to become a more sustainable version of mining programs that come before it. EZ Mining already has a feature that allows the APY to become adjustable every 3 months depending on network conditions, which existed already in Basic Mining 2.0. EZ Mining will be launched on Sept. 1st, 2022, and enrollment to Basic mining 2.0 will end at the same time.

Under EZ Mining new users will deposit USDC directly in Deeper Network's EZ Mining staking portal. Then on the backend, the USDC will be used to purchase DPR from the secondary market using real-time market price.  This will make the staking process easier, especially for those new to cryptocurrency.

The number of DPR staked will be displayed on the BSC staking platform. The initial investment into Deeper Network mining will no longer be dictated by fluctuations of DPR on the secondary market making the initial investment to mine impossible for some. Now new users can invest as little as 50 USDC or up to a maximum of 1,000 USDC in EZ Mining. This amount in USDC is set for each credit tier and the quantity of actual DPR staked will of course vary depending on market price of DPR. This makes the price entry point into Deeper Network mining consistent for all users at all times. This information along with APY and ROI can be more clearly understood looking at the table below:

  1. The lower the price of DPR, the more a user's USDC can purchase and stake. Conversely, the higher the price of DPR, the less a user's USDC can purchase and stake.
  2. APY is applied to the number of staked DPR. This number will be your annual mining reward. 
  3. The higher the price of DPR, the faster the return of investment.
  4. The maximum value for staking is 1,000 USDC in DPR. The lowest staking value is 50 USDC in DPR.
  5. Staking standard = FIAT currency standard (USDC)
  6. DPR APY Earnings = APY from 20% - 60%

Early Miners ROI Estimation (Days)

Notable Features of EZ Mining:
  • Lower entry barrier with USDC deposit (DPR purchased off secondary market and staked).
  • Initial investment (USDC) is fixed for each tier regardless of $DPR market price.

How will current miners transition into EZ Mining? 

  • Genesis Nodes:

All Genesis nodes will have one rewards halving event on Dec. 1st, 2022. Then on June 1st, 2023, enter into EZ Mining for a 6-month term after which users can unstake at any time. The difference in staked DPR from Genesis will be linearly distributed over 90-days into the user's Deeper wallet. 

  • Basic Mining 1.0:

If users' staking term ends before Sept. 1st, 2022, they will be automatically entered into Basic Mining 2.0 for a 3-month term. After that, the user will be entered directly into EZ Mining for a 6-month term where users can unstake at any time. If users' staking term ends after Sept. 1st, 2022, the user will be entered directly into EZ Mining for a 9-month term upon the completion of their official term. 

  • Basic Mining 2.0:

All Basic Mining 2.0 users will be entered into EZ Mining on Dec. 1st, 2022 for a 6-month term where users can unstake at any time. 

  • EZ Mining:

All miners staking on or after Sept. 1st, 2022 will take part in EZ Mining for a 9-month term where users can unstake at any time. New users will deposit USDC on the EZ Mining staking portal. The portal's backend will then purchase DPR off the secondary market and stake it. 

*Note: All mining programs will be aligned into EZ Mining by June 1, 2023.

Will the APY change every 3-months in the future?

APY is unlikely to change as long as mining rewards paid out don’t exceed mining allocations for that term. Please see the initial allocation breakdown chart below:

Rate changes will be determined by the team until the governance system of Deeper Chain is fully launched.  This will give the power to the community governing council to make these sorts of decisions. This is all part of the steps being taken towards a fully decentralized network. 

Promotional events where increases in APY could occur. Because users can unstake at any time, it gives the user the freedom to control what APY suits them and what they would like to do with their funds.

Mining Affiliate Program

A new mining affiliate program has been designed to reward those who help grow the network. The more users one refers to mine on the Deeper Network the more mining rewards they will earn. As long as a referred device is staked and mining, the reward for that referred device will be paid out in your daily  mining rewards. 

Details for the mining affiliate program can be better understood by looking at the chart below:

Below is an example on how the referral reward is calculated for the referrer:

Referral level = Platinum

Referee stakes 1,000 USD, DPR price at time of staking = $0.025, Staked DPR amount = 40,000 DPR

Referee’s device credit score = Tier 800 (earns 60% APY)

Referrer’s APY earning = 9% Affiliate Level Reward * Referee’s 60% APY = 5.4% APY

Referrer’s Annual DPR earnings = 5.4% APY * 40,000 DPR stake  = 2,160 DPR

What is the Future of Deeper Network Mining?

Currently, under the PoCr (Proof of Credit) consensus algorithm, Deeper Network users can earn $DPR for sharing their bandwidth. However, new ways of incentivizing Deeper Network users are coming in late 2022. A new and additional consensus algorithm called NPoW (New-Generation Proof of Work) will soon be implemented on the Deeper Chain. This new algorithm will allow nodes to share their IPs to carry out important functions such as systems stress testing, IP-related platform support, and other 3rd party IP marketplace needs. In addition, EZC, a non-tradeable stablecoin that can be purchased via traditional payment methods such as credit cards, will allow the purchase of DPR from the secondary markets and portions of it burned. The remaining DPR will be stored in a treasury wallet to be used for project development. 

Under the condition that new users continue to join the network and more traction is gained as a project as a whole, this will have a positive chain effect on $DPR and the entire ecosystem. 

Web3 is positively the next generation of the internet and the Deeper Network is building sustainable infrastructure and new sharing economies for the future, now. Welcome onboard and if you're not yet onboard, come and join the revolution that is Deeper Network!