Hello dear readers, In this article today I shall be introducing you to DAB token, its potentials, benefits and its mining activities.
WHAT IS DAB TOKEN?
I want you to know that DAB token is a token that will run the DABANKING platform and DAB is used as a token platform for the development of DABANKING community . Remember, DABANKING is planning to create their own blockchain and when this is finally done, this DAB token will in the nearest future be swapped to DABANKING blockchain from ETHEREUM blockchain .
This swap is expected to take place when DABANKING blockchain is finally launched.
Interestingly , DAB token has a total supply of 200 million DAB token and users can only obtain DAB token via a mining process on the DABANKING platform. It is so serious that even the DABANKING Developer cannot obtain DAB token in any other way except through the use of MINING WALLET to mine DAB the token.
ABOUT DAB TOKEN MINING
In mining DAB token successfully, there are certain things that are expected of users who are interested in mining.
First, users are requested to buy what is Called “TREASURY PACKAGED” This treasury packaged can be bought with a minimum amount of $200 worth of ETH. Also according to Developer’s discretion, users can buy up to a maximum amount of $5000 worth of treasury package.
I will like you to know that the TTRESURY PACKAGE is calculated in value at the time a user deposits ETH and the ETH is confirmed by the blockchain . That means the deposited ETH for the TREASURY PACKAGE has to get confirmed before its value can be calculated. if there is an increase in price between the time a user Deposits ETH and the Time the ETH is actually confirmed , that means the value of the TREASURY PACKAGE will increase accordingly .And if the there is a fall in ETH price the price of TREASURY PACKAGE will also reduce but the reduction cannot exceed 3%. In case the ETH price reduces more than 3% , the deposit will fail and the user will be requested to start the deposit all over again.
THE MINING WALLETS
In exploiting DAB token there are 3 different types of energy Wallets that are required, these are: GOLD WALLET, GREEN WALLET and MINING WALLET. When the TREASURY PACKAGED is activated, the GOLD WALLET will add 800% of the value of the package a user paid for and the GREEN wallet will add 200% of the package value at the first purchase of package and will also add 100% of the value of the package at the second package and beyond.
This is an example of how it works, if a user purchases TREASURY PACKAGE worth $1000 for the first time, such user will have $8000 in his or her GOLD WALLET and will have $2000 in his or her GREEN WALLET for the first time of buying the package
the MINING WALLET is designed in such a way that every day it will receive 0.5% of the value of GREEN WALLET and the amount in the GREEN WALLET is reduce every day after deducting the amount flowing through the MINING WALLET of the previous day .
AN EXAMPLE OF HOW THE WALLET WORKS
For example: If you buy Treasury Package for the first time with the value of $1000, you will have $8000 in “Gold Wallet” and $2000 in “Green Wallet” for the first purchase.
Every day “Mining Wallet” will receive 0.5% the value of “Green Wallet” and “Green Wallet” will decrease each day after deducting the amount flowing through the “Mining Wallet” of the previous day.
That is to say: You buy a $1000 package and your “Green Wallet” has $2000.
1st day: 0.5% of $2000 is $10 will flow through “Mining Wallet” and “Green Wallet” remaining $1990
2nd day: 0.5% of $1990 is $9.95 will flow through “Mining Wallet” and “Green Wallet” remaining $1980.05
3rd day: 0.5% of $1980.05 is $9,90025 will flow through “Mining Wallet” and “Green Wallet” remaining $1970,14975
this will continue like that every day until “Green Wallet” turns 0.
DAB mining is an interesting adventure and there are other things you need to know about it in order to maximize its benefits please make use of the links below. #Dapps #DABANKING #DAB #Lockchain #ETH
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