Whitepaper
Whitepaper
Market Background
PoW Mining
Litecoin uses POW as a consensus mechanism. Instead of having a central authority issuer, new Litecoins enter into circulation by sophisticated hardware solving extremely complex computational math problems. The process is called Litecoin Mining.
Mining is structured as a race between miners, who compete to solve computationally intensive puzzles and become the first on the network to successfully validate a new block and pocket the reward.
Real World Mining
At first, Litecoin miners chose Intel or AMD CPU products as mining rigs. However, since CPU mining is a compute-intensive application, it is no longer profitable or even loss-making for CPU mining with an increase in the number of miners and the performance of mining rigs.
Around 2012/2013, miners started to use GPU or FPGA mining rigs. Shortly after, in mid 2013, a large number of ASIC mining rigs launched. From July 2013, network-wide total hashrate surged due to the large number of ASIC mining rigs put into operation. Based on the average hashrate in July 2013, all CPU mining rigs were unable to generate positive revenue, and FPGA mining rigs were close to zero return.
Estimation based on the average hashrate in September 2013, all small ASIC mining rigs developed for individuals generated almost zero positive returns. Majority of the hashrate was dominated by clustered ASIC mining rigs with 5 TH/s or more. Mining individually was squeezed out of the mining community due to insufficient revenue. Some miners gathered money to build mining sites and installed massive mining rigs in places where cheap electricity was available.
The same story repeated in the upcoming 8 years, leading to centralisation of hashrate we witness today. Current mining landscape is made of up the following 4 stakeholders: mining rigs manufacturers, big miners, mining farms and mining pools.
Birth of Miner Frog
A New Chance for Individual Miners
Satoshi Nakamoto once, on BitcoinTalk, called for a peaceful agreement among miners to delay the start of GPU mining race in order to provide the latter entrants a fairer environment. However, as hashrate surges, the cost of mining increases inevitably. Without specialized mining rigs, ordinary computational equipment lost their places in the mining game. Specialized mining rigs are expensive to purchase, costly to maintain and complicated to operate. Only by scaling can one reduce the marginal cost to achieve a profitable margin, which in turns raises the entry barrier to the mining game even higher.
As the development of blockchain technology, token standards like ERC-20, ERC-721 and ERC-1155 gained public recognition in forms of tokens and NFTs. We now are able to verify the ownership of an asset without relying on a third-party authority. This concept and its underlying value are understood by more and more people, that makes ordinary people participate in bitcoin mining possible.
Connect to Real LiteCoin Fields
In order to enable all individual miners to have authentic mining experience without the noisy environment and complex operation, we decide to turn mining, a hard-core and complicated business, into a similuation game based on blockchain. All of this will be connected to the LiteCoin fields in reality, not just a virtual game.
Individual miners don’t need to buy high-cost mining equipment in the real world. It is a metaverse game built for individual miners based on the LiteCoin field in reality.Every participant will be a miner in the game and earn cryptocurrencies rewards by owning power.
Miner Frog: On-Chain Mining Simulation Game
On Miner Frog, the metaverse game, players own their mine lots. They can use various miner roles to mine cryptos in different harshrates. Those miners' roles can be minted to be NFT, which is like a mining machine in reality. When you have ownership of NFTs, you can dispose of NFTs as you like, such as to upgrade, for sales, for lease, or for transfer, etc.
On Miner Frog, players can accelerate their miners to mine cryptos, which can be exchanged for USDT, LTC, BNB, BTC, etc cryptos on decentralized platforms, like PancakeSwap.
By gamifying the mining process, players not only can participate in mining under a cozy environment but also exploit their imagination to create mining rigs never seen in real life before. Savor the joy of creation while making money.
Mars Miner makes it possible for individuals to mine on cloud.
How Mars Miner works
Mars Miner is built on Binance Smart Chain with the innovative gameplay of social plus finance. The whole process is decentralized, anonymous, free, and fair. Here are the key steps involved.
Step 1: Connect your wallet.
Step 2: Swap MMF.
Step 3: Participate in the prize drawing of a mystery box for NFT miners with MMF. There will be a 30% chance of winning NFT miners and a 70% chance of not winning but being rewarded with 10% MMF.
Step 4: Start to mine with NFT miners. The mining period is 10 days, which can be shortened by providing energy tokens to accelerate the miners
Step 5: Time to refine ores. You will get 107% ores as a return.
Step 6: Swap ores for MMF.
Step 7: Swap MMF for USDT on the decentralized platform PancakeSwap.
To create value for participants
"Participation is rewarding"—Prize drawing of NFT miners mystery boxes
Mars miners are scarce. So it’s required to win an NFT miner through the prize drawing before mining. There will be a 30% chance of winning NFT miners and a 70% chance of not winning but being rewarded with 10% MMF.---If a player doesn’t win, which means he failed to get an NFT miner, the paid MMF will be returned to him automatically and he will get an additional reward of 10% MMF.---If a player wins, it means he gets an NFT miner. When a player gets an NFT miner, the NFT address will be announced in the game, which can be checked in the NFT market. Owners can use NFT miners to mine, upgrade, for sales or leases.The process of prize drawing is decentralized and the results are based on random numbers generated by Chainlink VRF.
Items in mystery boxes
Item
Quantity
Winning chance
Miner
1
30%
Bonus
Your principle+10%MMF
70%
To create value for miners
“There is a mining, there is a revenue.”—Miners’ mining
NFT Miner
Miners are a critical prop before mining. It is required to get a miner through the prize drawing and get it to work for you.There are 5 levels of miners. All of them have the same mining period and the same mining revenue. They are only differentiated by the mining capacity. The higher the mining capacity, the higher the mining revenue.
There are two ways to increase mining revenue:
1. To upgrade for a higher level of miners
2. To increase the mining efficiency by injecting energy into miners
NFT miner properties
Level
Mining Period
Mining Capacity
Yield
Level 1
10 Days
10~1,999
7%
Level 2
10 Days
2,000~4,999
7%
Level 3
10 Days
5,000~9,999
7%
Level 4
10 Days
10,000~14,999
7%
Level 5
10 Days
15,000~20,000
7%
To create value for referrers
"There is a referral, there is a reward" — Team Bonus.
Every player has his exclusive referral link and referral code. To enter Mars Miner, you have to fill in a referral code from your referrer.
You may get unlimited MMF tokens as a reward when your referrals join Mars Miner with your referral code/link.
The rewards are mainly from the prize drawing of NFT miners mystery boxes.
1. If your referrals fail to win an NFT miner in the prize drawing, you will get 10% of his payment in MMF tokens;
2. If your referrals win an NFT miner in the prize drawing, you will get 20% of his payment in MMF tokens.
Tokenomics
Governance token: MMF
MMF is short for Mars Miner Token, which is the governance token and the only cryptocurrency to invest and gain on Mars Miner. MMF can be swapped for stablecoins on a decentralized platform, like PancakeSwap. MMF is mainly applied to initiate mining, refining ores, buying miners, casting NFT, DAO voting, etc. It strings together the game’s whole ecology.
Token name: Mars Miner Frog
Token symbol: MMF
Total supply: 42 billion
Network: BEP-20
Allocations:
Reservation Pool for Application
34%
Liquidity Pool
65%
Quantitative Trading Pool
1%
Burning Mechanism:
Buy back and burn
Burn rave party
Gaming token
Token name: Frog Diamond Energy
Token symbol: FDE
Total supply: Unlimited
Energy Token-FDE is the gaming token on Mars Miner, which is mainly used to accelerate miners’ mining efficiency by injecting energy into miners. In that way, the mining period will be shortened, and players will get revenue in a shorter time.
How to get FDE tokens?
1. Players can mine FDE by themselves in manual mode.
2. Players can buy FDE sold by other players in the gaming shop.
Development Roadmap
2023
1Q: Application developed, Tested on bsc-testnet
2Q: MMF lunch on Pinksale, game on live once lunch done
3Q: Miner frog game including FDE cocos2d game live on bsc-mainnet
4Q: MMF NFT market place release, trade MMF NFT freely on bsc-mainnet
2024
1Q: Community build, ecosystem extends to GameFi platform, based on COCOS2D/3D engine
2Q: List on cex, target at coinbase, binanace, okx etc.
3Q: Self POR(proof of reserve) public blockchain develop, test in 3 waves.
4Q: push on way
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