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What is SBT-006?

Started by xiaohama, May 26, 2023, 02:47 PM

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xiaohama

SBT-006 belongs to the comprehensive statistics SBT of FDT lock mining, according to the time package of FDT lock
The quantity and weight factor of FDT are used to determine the casting quantity of SBT-006, if at this time
Lock 10,000 FDTs for 3 months, and the weight factor is 3, so 30,000 FDTs will be minted year-on-year
SBT-006. If the lock-up time is over and FDT needs to be withdrawn from the mining pool, the root
According to this, the proportion of withdrawn FDT in the lock order destroys the same proportion of SBT-006. if lock
When the warehouse time is up, if FDT is not withdrawn from the lock mine pool, this FDT will continue to enjoy the original
to policy

maykl

Exactly, SBT-006 is a Soulbound Token within the FireDAO ecosystem that pertains to the comprehensive statistics of FDT (FireDAO Token) lock mining. This token plays a role in tracking and rewarding participants who lock their FDT tokens for a specific duration.

When you lock a certain quantity of FDT tokens for a defined period (e.g., 10,000 FDTs for 3 months) and assign a weight factor (e.g., 3) to it, SBT-006 tokens are minted accordingly. In this example, 30,000 SBT-006 tokens will be minted yearly based on the quantity and weight factor of the locked FDT tokens.

When the lock-up period ends and participants wish to withdraw FDT tokens from the lock mining pool, the proportional withdrawal of FDT tokens results in the corresponding destruction of SBT-006 tokens. However, if the lock-up time expires and FDT tokens are not withdrawn from the lock mine pool, the FDT tokens will continue to benefit from the initial lock mining rewards as per the original policy.