BUSD Miner Dapp
MAM DESCRIPTION
MAM is a project built by Richie – Crypto Mischief. It is a BUSD miner that pays 3% per day (based on miners value) and has some unique features to it.
MAM uses pools to generate outside income that is injected into the contract TVL to sustain the project.
MAM UNIQUE FEATURES
- DAILY LOTTO – For every 5 BUSD used in compound or deposit, users get one ticket for a random daily lotto. (Rewards are paid in miners)
- TOP DEPOSIT PRIZE – Top 5 highest deposits of every day share a prize (Rewards are paid in miners).
- ELASTIC REFERRAL SYSTEM – When TVL is going up the ref is set at 8%, when TVL is going down refs are set at 12% and can go up to 16%
- DRIP AIRDROP REWARDS – MAM uses a portion of the taxes to buy Drip token and airdrop to Richie’s DRIP Team.
- MINIMUM DEPOSIT – 50 BUSD
- MAX DEPOSIT – 10000 BUSD
- 24H COOLDOWN – User must wait 24h between actions (claim or compound)
- 48H MAX ACCUMULATION – User must take action within 48h from their previous action or their rewards will stop accumulation.
MAM USEFUL LINKS AND DATA
MAM – Mischief Airdrop Miner
STATUS: ACTIVE
SITE: https://mischiefminer.io/
APR: 3% (based on miner worth)
LAUNCH DATE: 2022/09/14
AUDIT: https://the-stamp.com/2022/09/mischief-airdrop-miner-mam/
CONTRACT: https://bscscan.com/address/0x5558a00f761123d94bc8e400bd73143a0080e082
DUNE CHARTS: https://dune.com/bigg518/mam-mischief-airdrop-miner
TOKEN: BUSD – Bep20 (from PancakeSwap on BSC)
TOKEN CA: 0xe9e7CEA3DedcA5984780Bafc599bD69ADd087D56
Pancake Swap Site: https://pancakeswap.finance/swap
THE TOKENOMICS (FEES AND TAXES)
In MAM users pay 5% tax upon claiming their rewards, the remaining fees are covered by the project, which means that the user receives the miners amount corresponding to 100% of their deposit.
DEPOSITS: 5% fee
- 3% Drip Airdrop wallet
- 1% Dev wallet 1
- 0.5% Dev wallet 2
- 0.5% Charity wallet
Claims: 5% tax
- 3% Drip Airdrop wallet
- 1% Dev wallet 1
- 0.5% Dev wallet 2
- 0.5% Charity wallet
GLOSSARY
- ROI – Return Over Investment
- Dapp – Defi Application
- APR – Annual Percentage Rate
- MINER – The name given to a Defi project that uses the TVL to determine an asset value and from which the rewards are calculated from, thus in essence “mining” the TVL.
- TVL – Total Value Locked – It is the total amount of funds present in the contract (deposited funds minus fees minus claims)
- Miners – When a user deposits, buys miners, these miners price is not fixed, but rather is determined by the TVL. As the TVL goes up the price per miner also rises, when TVL goes down, the price per miner drops.
- INFLATION – Inflation is used in miner Dapps to explain the drop in rewards and the variations in price per miner.
HOW MINERS WORK
This is an example to help people understand how Miners Dapps works and some of the terms used.
Practical example:
TVL is at 1000 BUSD
User A deposits 100 BUSD tokens and receives 100 miners. (the price per miner was 1 BUSD).
TVL is now 1100 BUSD.
User B deposits 100 BUSD tokens and receives 90.90 miners. (the price per miner was now 1.1 BUSD).
The APR is 3% per day.
User A is receiving 3.6 BUSD per day in rewards.
User B is receiving 3.27 BUSD per day in rewards.
Both deposited the same 100 BUSD but the price each paid per miner was different, user A got 10 miners more than user B.
TVL determines the value of the miners, after user B bought his miners TVL increased to 1200 BUSD which made the 100 miners that user A had to be worth 120 BUSD, thus 3% over 120 is 3.6, and user B with 90.90 worth 109.09 BUSD due to the TVL being now 1200 BUSD is generating 3.27 BUSD per day. 109.09 x 3% = 3.27 BUSD per day.
User B claims his rewards at the end of 24h. 3.27 BUSD is claimed from the TVL. TVL is now 1196.72. he continues to have 90.90 miners which are now worth 108.79 BUSD.
User A compounds his rewards at the end of 24h.
TVL is now 1196.72 BUSD each miner now costs 1.196 BUSD, he currently has 103 miners worth 123.6 BUSD.
After some time TVL is down to 600 BUSD.
Each miner now costs 0.60 BUSD.
User A has 123.6 miners. Worth a total of 61.8 BUSD and generating 1.85 BUSD per day (61.8 x 3% = 1.85)
User B has 90.90 miners. Worth a total of 54.54 BUSD and generating 1.63 BUSD per day (61.8 x 3% = 1.63)
By compound rewards TVL remains intact and depending on other user’s actions, it may be possible to fight inflation.
Another possible way to fight inflation in miner Dapps is the claim and reinvest.
When a user claims the TVL drops, causing the price per miner to drop as well.
Meaning we will be able to buy miners at a lower price than we would be simply compounding.