[ANN] ONE/BTC Eligible for 10X MM Mining Rewards

Dear Users,

A week of special event to receive 10X market-making as mining rewards for trading pair ONE/BTC will start from 15:00 (UTC+8) May 08 and last through 15:00 (UTC+8) May 15, 2021.

About Harmony

Harmony is a fast and secure blockchain with key innovations in state sharding and peer-to-peer networking. Its sharding uses proof-of-stake and decentralized randomness, and its networking achieves optimal cross-shard routing and fast block propagation.

Mining Range

Trading Pair	Eligible Range for Buy Orders (distance to the best bid)	Max. Ratio between Buy Order VX Rewards and Sell Order VX Rewards	Eligible Range for Sell Orders (distance to the best ask)	Max. Ratio between Sell Order VX Rewards and Buy Order VX Rewards
ONE/BTC	6%	10	6%	10

Note:

The ratio of VX rewards from buys versus sells is capped. When the ratio hits the cap, if one continues to place buy orders, their VX rewards will NOT be increased.

The ratio of VX rewards from sells versus buys is also capped. When the ratio hits the cap, if one continues to place sell orders, their VX rewards will NOT be increased.

Example

Suppose that the USDT market has only ONE/BTC trading pair and all orders are placed for 24 hours, a total of 250 VX will be allocated as mining rewards. Consider five scenarios as follows:

	Trading Pair	Total Eligible Buy Order	Total Eligible Sell Order	Ratio of VX for Buy Order : VX for Sell Order	Mined VX
Scenario 1	ONE/BTC	1 BTC	10 BTC	1:10	Buy Order: 22.73 Sell Order: 227.27
Scenario 2	ONE/BTC	1 BTC	15 BTC	1:10	Buy Order: 22.73 Sell Order: 227.27
Scenario 3	ONE/BTC	2 BTC	5 BTC	2:5	Buy Order: 71.43 Sell Order: 187.57
Scenario 4	ONE/BTC	10 BTC	1 BTC	10:1	Buy Order: 227.27 Sell Order: 22.73
Scenario 5	ONE/BTC	20 BTC	1 BTC	10:1	Buy Order: 227.27 Sell Order: 22.73

The mining calculation is conducted as follows:

The Base Number of 1 user on one market in a day = the sum of all Base Numbers of every single order of that market. Here, the Base Number (m) is subject to three factors: the order time (T), the order amount (A), and the mining coefficient (y). That is, m = T * A * y (T ≥ 300 seconds)

The sum of the Base Number on one market in a day = the sum of the Base Numbers of all eligible orders on that day. That is, M = m1+ m2 + m3 + .....mn

Mined VX of 1 user = m / M * 2.5% * VX daily released amount on that day

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May 07, 2021

Team ViteX