NEST Quote Mining Output Mechanism

NEST Token mining release rule:

1. The total supply of NEST is 10 billion.

2. The starting block of mining pool output is the 6236588th block of Ethereum, and the initial NEST output of each block is 400.

3. Every 2,400,000 blocks (about 1 year) decays, and each block output decays to 80% of the original.

4. When the block reward is 40 NEST, it no longer decays. First look at the NEST block reward decay value table:

The current block height of Ethereum is 9000000+. It can be seen that there has been a decay. The current unit block reward is 320 NEST Token.

Miners obtain NEST Token by quote mining, and each quotation needs to pay ETH handling fee (1% of the ETH quantity at the time of quotation) and all handling fees charged by the system are entered into dividend contract.

This means that behind every NEST Token released, there are miners paying real money for cost, not free.

Calculation of NEST mining quantity for each quote by miners:

First, calculate the NEST mining reward quantity as ‘M’ which contained in the block of the transacted quote transaction. If the height difference between the current block and the previous block containing in the quote transaction is ‘K’, then:

M = K * 320

This means that if there is no quotation mining order for a certain period of time, then the first new mining will get all NEST rewards that have not been mined before. In this way, miners can be incentivized to conduct continuous quotation mining and maintain the stability and security of the NEST Protocol network.

Assuming that the sum of the quotation fees in the block is ‘E’, and the fee paid for a certain quotation is ‘e’, then the NEST mining quantity of the quotation is ‘N’:

N = （e / E）* M

Note: NEST oracle quotation miners in the quotation process, in addition of getting NEST rewards, they can also get 20% of the revenue of NEST oracles being called.

Suppose a third-party developer calls the NEST oracle once and pays 0.01 ETH, 20% of which is 0.002 ETH will be rewarded to (quotation miners who are participating in generating the quotation data).

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NEST oracle docs: https://docs.nestprotocol.org

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