UpFundMe Update: Discounted Miners and Staking UFM + More Reward Details

in #upfundme2 years ago


Staking of UFM Activated

You can now stake your UFM to be ready for Proof of Brain once it is set up.

Powering down is divided 31 times into 31 days.

A few lucky users who have staked UFM could receive a free miner!

UFM and UFMM Rewards

The UFM reward pool will be split 50/50 between Proof of Brain (posting) and Proof of Stake (miners).

Posts will be split 50/50 between posters and curators.

More details on inflation and reward curves will come in a later post, but we are aiming for 10% or less yearly inflation.

Discounted Miners

1000 UpFundMe Miners (UFMM) are available at a discount on the Steem Engine Market for 5.0 STEEM each to help restart this project.

This is 10% of the total supply of 10000 UFMM.

Miner functionality is not yet turned on but is a priority.

We will not be adding Mega Miners so UFMM will be the only way to "mine" UFM!

The 1500 (1000 on market + 500 sold OTC) miners will enjoy two weeks of mining (after mining is activated) before the remaining 7500 will be made available on the market or OTC at 7.5 STEEM each.

New Directions

UpFundMe was always focused on charity and crowdfunding, but it doesn't have to remain that way once it is a fully functioning tribe. There is room for much more.

We will remain mostly focused on crowdfunding, however UpFundMe could also be a place for people to showcase their services, skills, products or reviews. It won't be a place to dump just any post in, but it will be a lot more than just crowdfunding.


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