Miners Reward Token Update

Miners Reward Token Update

Waves Platform

Back in June we announced that we had started buying back MRT to distribute to Waves miners.

Over the last two months we have been purchasing, burning and distributing MRT as promised. Total figures since 15 July 2018 are:

• 278,734.74 MRT bought

• 26,933.66 MRT burned

• 251,801.08 MRT distributed to mining nodes

You can use our calculator on the Waves site to find out how much you can make by mining WAVES: https://wavesplatform.com/mining. It is up to nodes whether they pass on MRT to their lessors, and if so, how much. Bear in mind that larger pools may mine more than 70 blocks per day, and so will receive proportionately fewer MRT per block. You can find a list of mining nodes at http://dev.pywaves.org/generators/

Going forwards, the buyback will continue to be structured as follows: 

• 500 WAVES worth of MRT will be bought off the open market every day

• 20 percent of MRT purchased will be burned

• The remaining 80 percent will be distributed to mining nodes

• Nodes are limited to 70 blocks of rewards – if they mine more than this, they will receive MRT for the first 70 only

Thanks for supporting the Waves network with your leased WAVES!

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