Suter Shield “Anonymity Mining” rules
Suter Shield is the first-ever Layer-2 privacy-preserving DeFi product. Since its launch on January 14, 2021, it has amassed over 1,000 users, with a cumulative transaction volume of 3 million USDT and transaction fee of more than $200. Privacy-preserving infrastructure is critical for the transformation from the real world to the digital encryption world, and “available but invisible” is also a necessary condition for users to retain the economic values of their private data. In order to further increase the size of the Suter Shield anonymity pool, the foundation has decided to switch from Suter’s original POS mining to Suter Shield’s anonymity mining. The specific mining rules and procedures are as follows:
User mining steps:
On the Suter Shield Mining page, the user can participate in “anonymity mining” by initiating “Fund”;
Anonymity mining rules:
1. Users can withdraw their staked assets at any time.
2. The user can withdraw the mining rewards by invoking the “burn” module at any time.
Mining reward rules:
1. Phase 1 mining will last one month and its total reward is 120 Million Suter. All the daily mining outputs of SUTER will be used as the “anonymity mining” rewards of the day, which is 4.32 million.
2. The first mining phase supports the following four currencies: ETH, USDT, USDC, and SUTER, and the mining reward distribution ratio is: 25%, 25%, 25%. 25%. The rules of subsequent mining phases will be adjusted conditioned on the outcome of the previous mining activities.
Suppose Alice participates in “ETH Anonymity Mining”, and her mining income would be calculated as follows:
Alice’s individual computing power = the total amount of Alice’s staked SETH
The total computing power of SETH pool = Sum of the SETH amounts staked by the individual participants
Alice’s personal SETH mining reward ratio = Alice’s individual computing power / The total computing power of SETH pool
If Alice participates in the anonymity mining of two different tokens simultaneously, the rewards from each pool will be calculated independently.
Suppose Alice stakes 100 ETH to the ETH anonymity pool, so now Alice has 100 SETH and her individual ETH anonymity pool computing power is 100. She is allowed to burn the 100 SETH she has, and then stakes the withdrawed ETH to fund another 100 SETH, and now her individual computing power would be 200.
- There will be other ERC-20 tokens and digital assets issued on HECO and BSC such as TORN(Tornado Cash), Link, Uni，Sushi，Aave, etc joining our LP pools in our next mining phase.
- Suter verification nodes (supernode) and voting verification nodes are all considered to be participants of anonymity mining activity and will be rewarded with Suter proportional to the amount of their locked Suter. For the nomination nodes to participate in the mining activity, they need to convert to either Suter verification nodes or voting verification nodes.