Mining. What's this? How to mine?

➡️ Magnetic introduces a new concept of token distribution for our community. Trade Confirmation Algorithm (POT).

➡️ The meaning of this algorithm is to trade certain tokens on the XRPL DEX for a certain amount in order to receive a reward.

🟢 Mining will consist of two things

1️⃣ Pools

2️⃣ Miners

Pools are sources of liquidity that contain tokens that can be mined. Miners mine tokens from pools and take them for themselves.

🔵 MINING POOLS

1. MAG POOLS

🟢 Characteristics:

➡️ Pool: the number of remaining tokens in the pool.

➡️ Burn percentage: Percentage of the reward that will be burned when a block is mined

➡️ Difficulty percentage: the required number of tokens for a higher reward.

🟢 Pool conditions:

➡️ Pair: the pair to trade on

➡️ Trade more than: the minimum volume for which you need to trade

➡️ Trade Type: what type of trade you need to gain the required volume

PS: The pool condition "Volume" must be fulfilled on Magnetic DEX. If your orders are placed on other platforms, this volume will not be counted. All trades that count towards mining must be made with Magnetic DEX.

🟢 Rewards:

💎 Guaranteed:

A reward that you will receive in any case if you fulfill the conditions of the pool

💎💎 Hold Tokens:

A reward for holding tokens. The reward will differ depending on your balance.

💎💎💎 Hold NFTs:

A reward for holding NFT. The reward will differ depending on the rarity.

PS: YOU DO NOT NEED TO OWN NFT OR HOLD MAG TO GET THE MINIMUM REWARDS. YOU CAN GET MINIMUM REWARDS WITHOUT HOLD.

🟢MINERS

💎 For this, all miners who have fulfilled the conditions will receive a reward after the generation of the block.

➡️ Blocks with miners who have fulfilled all the conditions will be formed every 60 minutes. That is, you can fulfill the conditions and receive a reward every 60 minutes.

⚪️ Magnetic NFT Collection (Magnetic Girls)

🔥 NFTs will be used by all Magnetic products.

Mining: you will get much more reward if you have NFT on your balance. The reward in mining depends on the rarity of your NFT. The reward for each rarity can be viewed on the page with all Mining Pools.

➡️ A total of no more than 5,000 NFTs will be issued.

⚫️ Rarity

NFTs will be of various rarities. From the most frequent (Common) to the rarest (Mythic). There will be seven rarities in total:

Common (3250 pc)

Rare (1150 pc)

Epic(400 pc)

Legendary (150 pc)

Mythic (50 pc)

PS: we will start minitit NFT a bit after the laucnh of mining