BRG on Nuls PoCM platform
What is POCM and how does it work with BRG?
POCM (Proof of Credit Mining) is an SCO Platform that allows projects to use smart contracts to issue and distribute project tokens on blockchains. On the NULS blockchain, you can stake into your preferred project’s nodes and earn their token as a reward, while also the project will earn NULS as a reward. Projects can use the NULS consensus rewards to bootstrap and help fund development. With POCM, unlike IEOs and ICOs, stakers never risk their principal, and NULS never leave their wallets. As a universal SCO Platform, POCM can be used to issue and distribute tokens and assets from any public chain in any blockchain ecosystem.
What is BRG?
BRG is the native token of the Bridge Oracle which is a public and secure oracle project with extremely low fees on the BNB Chain that provides various services for individuals and companies both, helping all to implement every kind of smart contracts into their services and production cycles. Using Bridge Oracle can help everyone easily inject real-world data into their demanding smart contracts and doing so, proceed with automatizing their activities in the best and most secure way possible.
By using the services provided by Bridge Oracle, users will have to pay the required fee in BNB, NULS, or BRG tokens on supported networks.
Bridge Oracle POCM tutorial
Nuls’ SCO platform allows projects to use a smart contract-based POCM (Proof of Credit Mining) to create an SCO (Staked Coin Output) node. Using this method, participants can stake NULS into Bridge projects’ SCO nodes and receive the newly-generated BRGs, instead of their usual NULS staking rewards. The Bridge SCO node continuously earns the NULS staking rewards — that would otherwise be rewarded to the NULS stakers — and will use the rewards to bootstrap and help fund development.
You can stake your NULS to Bridge Oracle and then you receive BRG tokens. On the other hand, the NULS tokens used for staking will never be lost.
If you are now asking “how can we participate in BRG POCM on the Nuls network?”, well, here are the steps to follow:
Participating in POCM
On the POCM platform, click the “Select Project” menu and then select Bridge Oracle to enter the project’s details page.
On the details page, enter the number of NULS you want to stake (the amount of staking cannot be lower than the minimum value set by the project team) and click “Stake”.
Receiving rewards
The contract will be awarded once every 5 blocks. After the reward is issued, you need to click on “Claim” on the right side of the related bar in “User Center” or just click on the “Claim” button. Once the request is sent successfully, the contract will transfer the BRG rewards to the participating address in real-time. When the lockout time is over, BRG tokens can be put into use (the specific unlock time can be viewed in Project details)
Be aware that receiving a reward is an operation that calls a contract, so you need to consume a small amount of NULS as the smart contract triggering fee.
To participate more
The user can continue to participate in the POCM of BRG on the project’s details page, or just add more to it via the “Add” button on the right side of the related bar on the “User Center” page.
