Disclaimer: This is an article we wrote on the Mirror.xyz dApp that automatically gets trnasformed into a NFT. Minting is OPTIONAL, you don’t need to mint this in order to participate in our Ecosystem. If you mint these articles, they will only ever be memorial NFTs with no actual value in the Ecosystem.
Entering our 2nd Phase in the launch of the mProtocol, we are launching the Shards Pools and the Event Passes!
These elements power up the farming of mShards for both creators and fans alike throughout our Ecosystem!
Shards Pools
These are Staking Pools that act as Providers to Event Passes.
Shards Pools have an EPY (event percentage yield which impacts the rewards an individual gets) and a completion rate (which impacts the overall rewards everyone gets).
→ The EPY is simple: it acts on a FCFS basis with the first people joining a Shards Pool getting the higher EPYs. This means you want to be the first if you want to get the highest EPY! The EPY is influenced by the demand and the Stage of the Pool Creator’s LinkUp Space.
→ The Completion Rate refers to the number of Shards locked in the Shards Pool. Each Shards Pool has a maximum possible number of Shards that can be locked. When that number is close to be reached, nobody can enter the Shards Pool anymore and more rewards will be given to those already in it.
!Only LinkUp Space creators will receive the ability to create Shards Pools! They will get Slots to create Shards Pools specific to each dApp!
How to initiate Shards Pools - Step by Step Guide
Staking in Shards Pools is the main component of our mProtocol that rewards the most Shards to the users!
PS. There is a 14 days timer until you can claim back your initial amount of Shards since you locked.
Event Passes
To craft an Event Pass, users must choose the type of the pass depending on the dApp they want to use it for, and a Provider.
(They can choose any Provider they want as long as it’s not above 99% completion rate, since that is the hard stop for joining a Shards Pool)
Users activate Event Passes to an mEvent in order to enable their Activity Score. The more active they are during an event, the higher the score and the bigger the rewards attached to their Event Passes.
Tip: You can see all details of your Event Pass in the Inventory
Burning an Event Pass grants you the full event rewards and the profit from the Shards Pool that acted as its Provider. (Or you can sell it in our Marketplaceđź‘€) Event Passes can only be burnt after they have been activated to an Event.
How to create an Event Pass - Step by Step Guide
Let’s get started
