- The miner runs mining operations (c.f. management)
- The token holders are capital/liquidity providers for the mining activity (shareholders, LPs)
- Miner creates sells ownership of their miner by selling tokens representing their future rewards
- Every time the miner earns, these tokens are redistributed
Mining Pledge Contract
- There is a “Mining Pledge contract” that has an ERC20 token. The miner can decides to distribute these tokens to others.
- The “Mining Pledge” contract has a balance that can be only withdrawn to add pledge collateral to a miner.
- There is a “Split contract”, where every time money are sent to it, these are automatically distributed with the right distribution to the Mining Pledge token holders.
- The miner assigns the beneficiary contract of their miner to be the split contract.
- Every miner can be releasing their own “Mining DAOs”
- Investor can have a diversified portfolio of miners
- There could be some other “Management DAOs” like Yearn, where strategist pick the best miners and re-invest profits in new miners.
Old raw notes:
- There is a contract that gets created
- Multiple LPs put utility tokens into the contract
- The contract has some predefined split agreements (this means that tokens can only be withdraw up to a percentage)
- Miner uses the tokens in this contract to s
- a “split contract” where assets in this pool can be only claimed if according to a distribution previously agreed upon (dividends)
- use this contract as the reward address of a miner
- use this smart contract as the contract that deposits “pledge”
if we had this split smart contract and the support for reward address of a miner to be it
then I could agree to co-own a miner ahead of time
and this could give me ability to earn future rewards
Box 1: Buffer money, Box 2: Pledged Money, Split Contract (reads Box 2)