The Deeper Network Phase-2 Genesis Node Silver-Plated Miner Giveaway

Phase 1 of the genesis node event ended successfully! Nearly 50,000 community members followed this campaign and a total of 1,527 whitelisters participated in phase-1 staking, which led to a total of 156.63 million DPR to be staked.

In order to include the 527 users who were not selected to receive the 24K gold-plated genesis node miners in phase-1 and provide more opportunities for all future participants to receive rewards and bonuses, there will be an additional 2,000 free silver-plated genesis node miners to giveaway in phase-2. The opening of phase-2 is imminent, and abundant incentives are first-come, first-served! Phase 2 staking will open on August 4th at 03:00 am UTC+0.

The following are the rules and rewards for phase 2 genesis node mining, as well as the terms and conditions:

Rules and Rewards

  1. Whitelist registrants on the whitelist who stake a minimum of 20,000 DPR will have a chance to receive a free genesis node miner.

Whitelisting required fields:

  • Email address(must can receive verification code) and/or Phone Number (must include country code and can receive verification code)
  • ERC20 wallet address* (cannot be a centralized exchange wallet and must be the same wallet you will be using to stake)

Whitelist registration link: https://dpr.deeper.network/register?invite=n7oa-vlcnfoX5Xpg

Whitelist registration tutorial: https://deeper-network.medium.com/the-deeper-network-genesis-node-whitelist-registration-tutorial-8e35f297b1eb

2. The staked DPR will be bound to the genesis node miner. The amount of staked DPR will determine the credit score tier and referrals that staker receives. The quantity of DPR staked must follow exactly the credit tier amounts. See the table below for details:

The system will select the top 2,000 DPR stakers to become genesis nodes on the Deeper Chain. Winners will receive a free silver-plated miner.

When phase-2 is complete, the rules for the next phase will be announced within 48 hours. In the event of multiple participants with the same credit tier, the cut-off will be decided based on the time their DPR was staked. Genesis node event will be conducted in multiple phases according to market demand. Staking will be on a first come, first served basis. The earlier a user participates, the lower the staking cost threshold and the higher the earning possibilities are.

If a participant does not make the cut-off for a particular phase, he/she can make the following decisions:

  • Claim their staked DPR back into his/her wallet.
  • Do nothing and keep their DPR staked. He/she will automatically be enrolled in the next phase of genesis node mining. The participant’s original DPR staking timestamp will remain thus giving them an advantage over new participants.
  • Participants can decide to increase their staked DPR before the next phase of genesis node mining begins. The participant will, however, receive a new timestamp.

Participants who did not get selected in phase-1 of the genesis node event have a choice to directly move their staked DPR to phase 2. In addition, their staking timestamp in phase 1 will also be preserved, which gives these participants a better chance to be selected as genesis nodes in phase-2. However, the main deciding factor will still depend on the participant’s staked amount in phase-2.

3. The whitelist will remain open through the genesis node event

Phase-2 staking will start on Wednesday, 8/4/2021 @ 03:00am UTC+0

Phase-2 staking will end on Saturday, 8/7/2021 @03:00am UTC+0

Deeper Chain mainnet will launch on Saturday, 8/28/2021 @ 03:00am UTC+0

4. Staking Period

The staking period will be for 9 months. During this period the DPR cannot be unlocked. Before the staking period is mature, the miner has the option to renew their staking period for another 9 months without any interruption to their mining. The user can also stake more DPR to enter a higher credit tier if at 700 or lower credit tier.

If a miner would like to unstake at the end of their 9 month period, the participant’s credit score will be reduced by the amount of their staked credit-tier’s credits but the organic credits earned over those 9 months for contributing to the network will remain.

The unstaked DPR will be distributed linearly (daily) over a 3 month period and claimable via our website link (TBA). During this period and beyond, basic mining capabilities will be active.

5. Terms

Credit Tiers: The higher the credit tier, the more reward a miner receives. The amount of DPR staked determines the credit tier.

DPR Staked: The amount of DPR staked.

Referrals: Referrals will be earned with staking and referral rewards are given in good faith that you will help refer others to the network. Some users may not be able to refer to other people for whatever reason, please do not worry about it, the Deeper Network team will cover for you and you will still get 100% rewards on your stake tier no matter what. It is highly encouraged that participants share these referral codes with friends and family to strengthen the Deeper Network.

Fixed APR: This is the percentage of the staked amount the miner will receive as their reward. For example, an 800 credit score must stake 468,000 DPR. Fixed APR rewards will be 60% (280,800 DPR) *Note: Fixed APR is the net reward for genesis node miners.

Genesis Bonus: this bonus is for early stakers. Each phase will have a certain amount of bonus; however, the earlier the phase, the higher the bonuses. That being said, phase 1 bonus is the highest and it will gradually decrease with the passing of each phase.

Third-Party Costs: 5%-10% will be automatically paid by the Deeper Network system, and will NOT be deducted from the user’s earnings. It is used for maintenance and overall development of the Deeper Chain ecosystem. The rewards in the above chart reflect this already. The amount paid for each tier can be found below for your information:

6. When do we receive advanced miners?

Genesis nodes miners will be sent out once the participant is confirmed to be a genesis node miner and before mainnet launch which is set to take place on August 28, 2021. We are not responsible for delays in users receiving their miners which might affect participant’s mining schedule. Other issues regarding the receipt of the genesis node miner will be dealt with on a case by case basis.

Disclaimer: These rules and rewards are only for the genesis node mining. Future mining phase’s rules and rewards will be determined at a later date. Deeper Network reserves the right to make adjustments and changes to the rules and rewards as needed for the benefit of the community, investors, and project.

Organic Credit Score Rules

  1. Deeper Network allows its users to grow their credit score organically when contributing their bandwidth to the network.
  2. The organic credit score will not be grown if the user’s bandwidth is not contributing to the network for any reason.
  3. The organic credit score can be grown by one (1) credit point when users share at least 10MB of uploaded bandwidth over two (2) consecutive days. A maximum of 1 credit point can be earned over this period of time regardless of how much bandwidth over 10MB the user shares.
  4. The organic credit score can be grown by one (1) credit point when users share at least 10MB of uploaded bandwidth over two (2) consecutive days. A maximum of 1 credit point can be earned over this period of time regardless of how much bandwidth over 10MB the user shares.
  5. Deeper Network reserves the right to adjust the organic credit score rules and other related parameters at any time with the network development.

Credit Downgrade Rules

Credit scores will be downgraded in the following situations:

  1. One (1) credit point will be deducted if the device is not contributing bandwidth to the network for three (3) consecutive days.
  2. Two (2) credit points will be deducted if the device is not contributing bandwidth to the network for six (6) consecutive days.
  3. Two (2) credit points will be deducted every three (3) days if the device is not contributing bandwidth to the network for more than six (6) days. This continues until all credit points have been deducted.
  4. If the user cannot maintain the full credit score for a particular tier, then the user’s credit score tier will be downgraded to the lower tier, while retaining the original credit genesis bonus and referral rewards.
  5. After deducting the credit score, users can always accumulate their credit score back to the original credit score by bandwidth sharing. Please refer to “Organic Credit Score Rules for detailed information.
  6. Genesis node miners must be connected to the Deeper Network and share bandwidth to mine. Not doing so will cause a loss in credit score points according to the rules above.
  7. Deeper Network reserves the right to adjust the organic credit downgrade rules and other related parameters at any time.