FUSION (FSN) mining tutorial, annual yield up to 60%

The earlier you participate in mining, the higher the profit.

FUSION launched the mainnet on June 30 and started staking mining at the same time. Wetez became the genesis node for the mainnet launch. FSN holders can entrust their FSN to Wetez to get block rewards.

The official analysis of the mining profit model is provided. Careful friends can look at the rewards at different time points. Wetez’s conclusion is that the earlier you participate in mining, the higher the profit.

As of July 1, FSN’s pledge ratio was approximately 20% .

Mining Logic

The consensus process of FUSION is similar to that of Decred, and the staking process of FSN is similar to the lottery process. FSN holders use FSN to purchase lottery tickets. All purchased lottery tickets will be placed in a lottery box. The system uses a random algorithm to draw from the lottery box, and the lottery tickets drawn can get a chance to generate blocks. If your node is online and generates blocks normally, the FSN you paid for the lottery ticket will be fully refunded, and you will receive an additional 2.5 FSN (worth about 20 yuan) in block rewards. Then, you can choose to continue buying tickets and repeat the above reward process.

How long does it take to get the previous round of rewards?

The draw is done every 15 seconds, and the probability is the proportion of your ticket to the total number of tickets in the lottery box.

For example: the more lottery tickets you have, the fewer tickets there are in the prize box, and the higher your chance of winning. For example, if there are 100 tickets in the lottery box and you have 20 tickets in the box, then the probability of being drawn every 15 seconds is 20%.

Total reward = 60*60*24/15*2.5*20% = 2880 FSN

Annual interest rate = 2880/(20*5000)*365=1051%

The ratio of 1051% is a bit exaggerated, because only a few people can occupy 20% of the total circulation.

Reward Distribution

Since the overall reward mechanism of FSN is relatively complicated, in order to make FSN voters understand, Wetez mining pool will help everyone to sort out all the processes of buying tickets, producing blocks, and distributing rewards. Some important rules are as follows

Reward distribution cycle: 3 days/time (10 am every 3 days will be selected as a snapshot)

Entrustment effective time: 24 hours later (to balance the interests of those who come first)

Reward distribution rules: All delegators receive rewards according to the entrustment ratio

Cost of prize ticket: 5000FSN/ticket (Fusion system regulations)

For example: Currently, there are 6,000 FSNs in the Wetez mining pool, which can be used to purchase one lottery ticket. The remaining 1,000 FSNs can be used by the client to delegate FSNs to make up the third ticket, the fourth ticket, etc. At 10 a.m. 3 days later, if the Wetez ticket is drawn and the block is generated to get the reward, all rewards will be distributed to all the clients in proportion, even those who did not contribute to the purchase of a complete lottery ticket.

Commission process

Currently, the FSN in the exchange is an ERC20 token. After FUSION is launched on the mainnet, you need to exchange the ERC20 FSN into the mainnet token before you can entrust the ticket purchase.

The first step is to exchange FSN

1. Open Imtoken wallet, version 2.0, enter the ETH wallet, and click the FSN page

2. Click Transfer and send FSN to the official exchange address:

0x8e6bDa71f3f0F49dDD29969De79aFCFac4457379

Important: The contract address is based on the official website: https://www.fusion.org/fsn-token

4. Import the private key or mnemonic phrase of the account on Imtoken into the FSN official wallet. The official wallet address is: https://www.myfusionwallet.com/

Note: If you have other important assets in your imtoken wallet and are concerned about the safety of your assets, you can create a separate Ethereum wallet on imtoken, transfer FSN to it, and then redeem it. The new wallet private key will be imported into the FSN official wallet.

Step 2: Staking

1. In the official wallet, you can see the balance of your mainnet FSN

2. Click "Send/Time-lock Assets" to enter the Staking page

3. Fill in the following information. It should be noted that the address of Wetez mining pool is: 1605760. The staking time needs to be filled in for more than 3 months. For example, if today is July 1st, you need to select October 1st. If it is less than 3 months, there will be no reward. PS: Tokens can still be transferred during the staking period

4. Check the Staking information and click “Send Asset” if it is correct.

5. The system will return to success soon. Click Close to return to the wallet homepage.

6. The wallet homepage will automatically refresh your delegation record. You can see it after waiting for about 1 minute.

Periodic rewards will be sent to the principal's mainnet address and can be seen in the official wallet. The principal can choose to continue staking to the Wetez mining pool to obtain compound interest. In the future, the Wetez mining pool will also launch compound interest products for everyone to choose.

I hope everyone can choose to entrust to Wetez mining pool. The address of Wetez mining pool is: 1605760