About The New Mining and Yunge Token Distributions
About the new mining:
After listing on Puddingswap , there is also an LP token(YUNGE-USDT) to mine PUD.
But as Puddingswap cant not support for LP token or YUNGE mining YUNGE, so we decide to open New Mining on https://heshiswap.com/#/farm at 21:00 on June 4, 2021(SGT)
Details:
1/ For single YUNGE staking, 100000 YUNGE as rewards for each day with of reduce every month from the opening.
2/ As YUNGE liquidity provider in YUNGE-USDT pool, 400000 YUNGE as rewards for each day with of reduce every month from the opening.
Steps to mine YUNGE:
Assuming you have set up HOO smart chain in your wallet:
1\ Open https://heshiswap.com/#/pool , after connecting your wallet, then add Liquidity with YUNGE and USDT. Then you will get some LP tokens.
2\ Open: https://heshiswap.com/#/farm, or chose the farm. Then deposit your LP tokens which getting from step 1.
3\For Single YUNGE stake mining, just chose the single YUNGE pool at https://heshiswap.com/#/pool to stake for mining.
YUNGE Token
YUNGE is the native token generated for governance, the total supply is 100 million. Because we cancelled presale and reduced the scale of IDO, our token distribution has undergone some changes, let we clarify with the community here.
First, let’s review the previous token distribution
1\Seed Round: 6% of total, 10% unlocked after listing, 15% unlocked from the fourth month, 15% unlocked every quarter thereafter
2\Presale: 10% of total, 15% unlocked after listing, 5% unlocked every month thereafter.
3\IDO: 1% of total, price is 0.3 USD with max CAP 300K USD, 100% unlocked after listing
4\Team: 20% of total, 10% will be unlocked three months after listing, and 15% will be unlocked every three months thereafter
5\Liquidity: 5% of total, will be add to the pool for trade and mint.
6\Foundation: 14% of total, will be used for project operations, airdrops, etc.
7\Ecological incentives: 44% of total, reserved for Yunge’s business partners.
Now the new token distribution is as follows:
1\Seed Round: 6% of total, 10% unlocked after listing, 15% unlocked from the fourth month, 15% unlocked every quarter thereafter
3\IDO: 0.32% of total, price is 0.125 USD with max CAP 40K USD, 100% unlocked after listing
4\Team: 20% of total, 10% will be unlocked three months after listing, and 15% will be unlocked every three months thereafter
5\Liquidity and Mining: 20% of total, will be add to the pool for trade and mint.
6\Foundation: 9.68% of total, will be used for marketing, new investors, etc.
7\Ecological incentives: 44% of total, reserved for Yunge’s business partners.
Yunge Ecosystem Token Economics
In the Yunge ecosystem, there are two types of tokens:
YUNGE and NGE.
YUNGE Token and Use Cases
YungeChain currently utilizes its native YUNGE token as the sole token on its network. The chain then uses the promise of receiving reward tokens as an incentive for validators to produce new blocks and submit responses to data requests. Additionally, any network participants can use the tokens in 3 ways:
1. Token holders can use the tokens they own to become validators
2. They can instead delegate their holdings to another validator to earn a portion of the collected fees and inflationary rewards
3. They can also use their tokens to participate in the chain’s governance
4. Finally, validators are allowed to set a fee for processing transactions, which act as their reward for performing their duty
NGE Token and Use Cases
NGE is an asset that requests payment of fees for the quotation data of the Yunge oracle network, and is mainly anchored as a stable currency(Mortgage by partners who use YUNGE service, 1 NGE = 1 USDT). 30% of the NGE revenue of the oracle billing system will be used to repurchase and burn YUNGE on a regular basis, and 20% will enter the insurance pool to ensure the safety and stability of the system. This is essentially a mechanism of buying-back and burning YUNGE, eventually resulting in YUNGE contraction.
