Everything you need to know about conteNFT’s marketplace mining system
conteNFT’s Marketplace mining system rewards NFT creators, sellers and buyers every week meaning we will empower creators with our tokens (can swap into BUSD) even if they are unable to successfully sell their NFTs to anyone. This means they don’t have to worry about losing the minting(uploading) fee.
Whenever you use any blockchain system, then to keep the blockchain system running well, you will have to pay a fee for that blockchain system. Typically, the Binance Smart Chain blockchain system that conteNFT is using. Comparing the fee charged for each transaction made to other blockchains, the Binance Smart Chain blockchain is in the top of the blockchain system with the cheapest transaction fees.
So when you upload(mint) your content to NFT, you will have to pay a fee to the Binance Smart Chain blockchain system (conteNFT will not charge this fee). So what if you can’t successfully sell your NFTs for-profits, will you lose that minting fee forever? So to overcome this drawback, we have developed a mining marketplace system that can cover users’ minting(uploading) fees.
By using conteNFT marketplace. You can earn CONT if you actively participating in our platform. This is called “Marketplace Mining”. 40% of CONT’s total supply is reserved for NFT uploaders (minters), NFT sellers and buyers on conteNFT marketplace, who will receive CONT weekly by distribution schedule according to weekly sale, purchase and upload quantity. 500.000.000 CONT of the total supply.
+Every Tuesday 60.000 CONT tokens are distributed to the NFT uploaders (minters), NFT sellers and buyers who bought NFT during that week before. 10% to the NFT uploaders (minters), 45% to the NFT sellers and 45% to the NFT buyers.
Details of conteNFT marketplace mining system
+Our Marketplace mining reward CONT token issuance will be deployed every Tuesday consequently.
+Minters, Sellers and Buyers will be received respectively 10% (6000CONT), 45% (27000 CONT) and 45% (27000 CONT) of the distributed amount. This allocated amount of tokens is divided by the total number of participants who upload /sale/purchase NFT items on conteNFT and those with the most total quantity of Upload/Sale/Purchase will receive more CONT.
NFT uploaders(Minters) will get CONT token rewards by calculating: 6000CONT divided by the total NFT Minters(Uploaders) of the previous week.
Top 20 users with the highest total of NFT successfully purchase times will receive a total reward of 10,000 CONT from the total reward of 27,000 CONT for the buyers. And successfully buyers outside the top 20 get tokens by calculating: 17,000 CONT divided by the total number of successfully buyers outside the top 20 that week.
The specific amount of CONT tokens that the top 20 buyers with the highest total of NFT successfully purchase times receive:
Outside the top 20 rewards = 17,000 CONT divided by the total number of successfully buyers outside the top 20 that previous week
Similarly, we have: Top 20 users with the highest total of NFT successfully sale times will receive a total reward of 10,000 CONT from the total reward of 27,000 for the sellers. And successfully sellers outside the top 20 get reward tokens by calculating: 17,000 CONT divided by the total number of successfully sellers outside the top 20 that previous week.
The specific amount of CONT tokens that the top 20 sellers with the highest total of NFT successfully sale times receive:
Note: To ensure that the amount of CONT tokens is properly allocated to users and attracts more users coming to our service:
We will not calculate the Marketplace mining reward for those who haven’t successfully sold or bought NFT on conteNFT that previous week.
+If there are less than 250 NFT uploaders(minters) that previous week: Each minter will receive up to 20 CONT tokens
+If there are less than 250 NFT successfully buyers that previous week: Each buyer will receive up to 30 CONT tokens and we won’t count the top 20
+If there are less than 250 NFT successfully sellers that previous week: Each seller will receive up to 30 CONT tokens and we won’t count the top 20
If one of these cases occurs, the balance after conteNFT reward the mining tokens for users will be returned to the Marketplace Mining System fund to be distributed to the next users in the future.
Users must create or trade successfully NFTs with a minimum value of 10$ to receive CONT Marketplace mining rewards
conteNFT reserves the right to change the calculation and amount of rewards from time to time. You are solely responsible for regularly reading notices of these changes. We will not take any responsibility for your losses so please read conteNFT notices regularly.
We reserve a right to alter Marketplace mining process to ensure that any potential attempts to cheat the system and demolish the fairness of our process can be eliminated.
1st Private Sale
The 1st Private Sale: is a token sale to investors who believe in us from the very beginning and want to energize us to create an NFT marketplace paradise for users. We will release 12% of this private sale on TGE and after TGE, we will unlock 8% monthly.
2nd Private Sale
The 2nd Private Sale: is a token sale to strategy partners or investors so that conteNFT can get more funds to grow the platform. We will release 12% of this private sale on TGE and after TGE, we will unlock 8% monthly.
The liquidity fund allocation is reserved for executing the needs of future platform integration, including providing liquidity or bounties. Locked (We will announce when using if need to). It can be unlocked from TGE but it’s optional so we can reserve this money for the right time to spend (TBA).
The team allocation is reserved as a motivation for the current and future conteNFT team members and advisors. This allocation will be locked in 1 year and then release 10% quarterly.
The treasury fund will fund all platform and ecosystem development, including function developments, marketing, affiliate incentives, etc. Locked but if unlocked only 15% limit per quarter and announce.
The Marketplace Mining will be used to motivate users and content creators on our platform. Every week, we will distribute 60.000 CONT, 10% to the NFT uploaders(minters), 45% to the NFT sellers and 45% to NFT the buyers. Additional rewards may be distributed to our contests. This allocated amount of tokens is divided by the total number of participants who upload or sell or purchase NFT items on conteNFT and those with the most total quantity of Sale/ Purchase will receive more CONT.
[***This content is for information purposes only and is not financial advice. We will not take any responsibility for your losses when you invest in Crypto Currencies or assets related to Crypto Currencies.***]
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