Deeper Network’s Genesis Node Mining Launched — Free 24K Gold-Plated Miner Giveaway
Some of us may have experienced the Web 1.0 portal Internet era of the 1980s. In the 2000s, the Web 2.0 social network era changed the way many of us experience the internet. Now the Internet is gradually stepping into the decentralized Web 3.0 era which will mark the next revolution of the Internet. We are proud to say that the Deeper Network represents one of the first gateways to Web 3.0 by providing the required decentralized network infrastructure for internet users around the world. As part of the official members of the Substrate Builders Program and a project partially funded by the Web 3.0 Foundation, the Deeper Network combines a secure sharing network, a decentralized consensus network and a trusted Internet development platform all into one single project.
The Deeper Network is also one of the few blockchain projects that stands out amongst other projects within the blockchain industry. The Deeper Connect Mini has netted nearly $3 million in pre-sales on Indiegogo, the world’s largest upcoming-tech crowdfunding platform even without promoting its blockchain-related features. Currently, Deeper has more than 20,000+ nodes distributed throughout Asia, North America and Europe and users in more than 200+ countries around the world, taking the lead into successfully building a decentralized network.
Meanwhile, under the continuous research and design efforts of the Deeper Network R&D team, three new products have been added to the Deeper Connect product line. These include the Deeper Connect PICO and two Deeper Connect USB dongles. The Deeper Connect PICO, at just about the size of a lighter, offers the same plug-and-play features found in previous generations. The device has a much more compact design, providing portability for frequent travelers. With the USB WiFi antenna, users can enjoy a secure and private network anytime and anywhere when traveling.
The Deeper Network has successfully integrated Helium’s IoT gateway into its own network. The Deeper Connect LoRa long-wave USB dongle antenna will also support Helium (HNT) mining. In the future, it will be able to achieve dual mining of both DPR & HNT using just one device. At the same time, the combination of the Internet of Things (IoT) and network security will also provide people with unlimited possibilities! At present, an application with the working prototype has been submitted to Helium, accessible by the link below:
DPR, Deeper Network’s native token, has an entire ecosystem built around it. With the mainnet launch set for August 28, 2021, the Deeper Chain will open up its ecosystem and mining incentivization to the world. Currently an ERC20 token, migration will happen seamlessly and a new era for Deeper Network will begin.
What is coming up next?
The long-awaited genesis node mining event will begin on July 27, 2021. The Deeper Network has allocated 60% of its entire token supply for mining incentives. 30% of that, 1.8 billion DPR tokens, is reserved for genesis mining incentives alone. Participants in phase one will receive a free limited-edition 24K gold-plated genesis node miner, which will certainly become a rare and valuable collector’s item. Deeper Connects have been auctioned on eBay for more than $1,200+ USD. This makes the free 24K gold-plated genesis node miner something truly unprecedented.
Immense interest has been surrounding Deeper Network’s genesis node mining and many have been waiting for its official announcement. Below are the official rules and conditions for this event.
Deeper Network Genesis Node Mining Rules & Rewards
What is Genesis Node mining?
Proof of Credit (PoCr) refers to the consensus algorithm of the Deeper Chain. One of the important parts of this algorithm is the referral mechanism. During the mainnet launch of the Deeper Chain, a referral system was adopted to help add new nodes to the network. Referred participants will also need to stake DPR tokens and share their bandwidth in order to become part of the network. This referral system helps with making the network more robust through the expansion of nodes on the network. It is a design that accomplishes two things at once; Gain support from the community and the growth of the network. The initial referral codes will come from the genesis node stakers.
Genesis node miners will be the first miners on the Deeper Chain and also the first to enjoy the incentivization for contributing bandwidth to the Deeper Network. The top 1,000 whitelisted stakers will be selected as genesis nodes and will be rewarded with the 24K gold-plated genesis node miner. Future genesis node phases and details will be announced within 48 hours once the 1st phase is completed.
Genesis node miners will be the first miners on the Deeper Chain and also the first to enjoy the incentivization for contributing bandwidth to the Deeper Network. The top 1,000 whitelisted stakers will be selected as genesis nodes and will be rewarded with the 24K gold-plated genesis node miner. Future genesis node phases and details will be announced within 48 hours once the 1st phase is completed.
When does it start?
-The whitelist will be open and remain open through the genesis node event:
Tuesday, 7/27/2021 @ 3:00am UTC+0
For your reference:
On Tue (7/27/2021) London Time at 04:00 am
On Tue (7/27/2021) Beijing Time at 11:00 am
On Mon (7/26/2021) New York Time at 11:00 pm
On Mon (7/26/2021) Los Angeles Time at 8:00 pm
Below is the whitelist registration link：
https://dpr.deeper.network/register?invite=WPnVIXdeWy19aivv
-The staking platform will be open at:
Sunday, 8/01/2021 @ 3:00am UTC+0
For your reference:
On Sun (8/01/2021 ) London Time at 04:00 am
On Sun (8/01/2021) Beijing Time at 11:00 am
On Sat (7/31/2021) New York Time at 11:00 pm
On Sat (7/31/2021) Los Angeles Time at 8:00 pm
-Deeper Chain mainnet will launch will take place at:
Saturday, 8/28/2021 @ 3:00am UTC+0
For your reference:
On Sat (8/28/2021) London Time at 04:00 am
On Sat (8/28/2021) Beijing Time at 11:00 am
On Fri (8/27/2021) New York Time at 5:00 pm
On Fri (8/27/2021) Los Angeles Time at 8:00 pm
How do we participate?
In order to participate in genesis node mining, all participants need to be on the whitelist. The whitelist will be opened to everyone, as long as we’re able to ship the genesis node miner to the participant’s address. We cannot guarantee the participant’s country’s customs or courier service’s terms.
Whitelisting required fields:
- Email address(must can receive verification code) and/or Phone Number (must include country code and can receive verification code)
- ERC20 wallet address* (cannot be a centralized exchange wallet and must be the same wallet you will be using to stake)
1. In the event of multiple participants with the same credit tier, the cut-off will be decided based on the time their DPR was staked (Quantity of DPR staked must follow exactly the credit tier amounts). The participants with the earlier staking time will have an advantage over later staking time. This will decide where the cut-off line will be.
2. The genesis node mining will be conducted in multiple phases based on the market conditions. It’s possible that future phases will have higher thresholds to participate in genesis node mining, therefore the earlier one participates in genesis node mining, the lower the threshold.
3. If a participant does not make the cut-off for a particular phase, he/she can make the following choices:
3.1 Claim their staked DPR back into his/her wallet.
3.2 Do nothing and keep their DPR staked. He/she will automatically be enrolled in the next phase of genesis node mining. The participant’s original DPR staking timestamp will remain thus giving them an advantage over new participants.
3.3 Participants can decide to increase their staked DPR before the next phase of genesis node mining begins. The participant will, however, receive a new timestamp.
*Referrals will be earned with staking and may play a part in future rewards/recognition. It is highly encouraged that participants share these referral codes with friends and family to strengthen the Deeper Network. Further details will be provided at a later date.
Once a participant is whitelisted, they will be allowed to stake DPR on our staking platform.
After the staking process is closed, the participants who make the cut will be selected as the genesis node miner for that phase based on their actual amount staked. Staking will be on a first-come, first-served basis.
How long will my DPR be staked for?
The staking period will be for 9 months. During this period the DPR cannot be unlocked. Before the staking period is mature, the miner has the option to renew their staking period for another 9 months without any interruption to their mining and/or stake more DPR to enter a new credit tier.
If a miner would like to unstake at the end of their 9 month period, the participant’s credit score will be reduced by the amount of their staked credit-tier credits but the credits earned over those 9 months for contributing to the network will remain.
The DPR will be unstaked and distributed linearly (daily) over a 3 month period and claimable via our website link. During this period, only basic mining capabilities will be active.
What are the rewards?
Credit Tiers: The higher the credit tier, the more reward a miner receives. The amount of DPR staked determines the credit tier.
DPR Staking: The amount of DPR staked.
Referrals: Referrals will be earned with staking and referral rewards are given in good faith that you will help refer others to the network. Some users may not be able to refer to other people for whatever reason, please do not worry about it, the Deeper Network team will cover for you and you will still get 100% rewards on your stake tier no matter what. It is highly encouraged that participants share these referral codes with friends and family to strengthen the Deeper Network.
Fixed APY: This is the percentage of the staked amount the miner will receive as their reward. For example, an 800 credit score must stake 468,000 DPR. Fixed APY rewards will be 60% (280,800 DPR) *Note: Fixed APY is the net reward for genesis node miners.
Genesis Bonus: this bonus is for early stakers. Each phase will have a certain amount of bonus; however, the earlier the phase, the higher the bonuses. That being said, phase 1 bonus is the highest and it will gradually decrease for each lower phase.
Third-Party Costs: 5%-10% will be automatically paid by the Deeper Network system, and will NOT be deducted from the user’s earnings. It is used for maintenance and overall development of the Deeper Chain ecosystem. The rewards in the above chart reflect this already. The amount paid for each tier can be found below for your information:
When do we receive advanced miners?
Genesis nodes miners will be sent out once the participant is confirmed to be a genesis node miner before mainnet launch which is set to take place on August 28, 2021. We are not responsible for delays in shipment which might affect participant’s mining schedule. Other issues regarding the receipt of the genesis node miner will be dealt with on a case-by-case basis.
Disclaimer: These rules and rewards are only for the genesis node mining. Future mining phase’s rules and rewards will be determined at a later date. Deeper Network reserves the right to make adjustments and changes to the rules and rewards as needed for the benefit of the community, investors and project.
Organic Credit Score Rules
- Deeper Network allows its users to grow their credit score organically when contributing their bandwidth to the network.
- The organic credit score will not be grown if the user’s bandwidth is not contributing to the network for any reason.
- The organic credit score can be grown by one (1) credit point when users share at least 10MB of uploaded bandwidth over two (2) consecutive days. A maximum of 1 credit point can be earned over this period of time regardless of how much bandwidth over 10MB the user shares.
- Deeper Connect devices not contributing bandwidth to the network will not grow their organic credit score.
- Deeper Network reserves the right to adjust the organic credit score rules and other related parameters at any time with the network development.
Organic Credit Downgrade Rules
Organic credit scores will be downgraded in the following situations:
- One (1) credit point will be deducted if the device is not contributing bandwidth to the network for three (3) consecutive days.
- Two (2) credit points will be deducted if the device is not contributing bandwidth to the network for six (6) consecutive days.
- Two (2) credit points will be deducted every three (3) days if the device is not contributing bandwidth to the network for more than six (6) days. This continues until all credit points have been deducted.
- If the user cannot maintain the full credit score for a particular tier, then the user’s credit score tier will be downgraded to the lower tier, while retaining the original credit genesis bonus and referral rewards.
- After deducting the credit score, users can always accumulate their credit score back to the original credit score by bandwidth sharing. Please refer to “Organic Credit Score Rules for detailed information.
- Deeper Network reserves the right to adjust the organic credit downgrade rules and other related parameters at any time.
