GNME is an innovative Web3 Telegram Mining Game built on the Solana blockchain, combining virtual cryptocurrency mining with engaging gameplay mechanics. This paper outlines the GNME system, its tokenomics, and the game mechanics that create a unique, sustainable, and potentially rewarding experience for users in the cryptocurrency space.
The rise of blockchain technology and cryptocurrencies has opened new avenues for gamification in the financial sector. GNME leverages this opportunity by creating a virtual mining ecosystem on the Solana blockchain, allowing users to participate in a simulated mining experience without the need for physical hardware.
Users enter the GNME ecosystem by registering through a Telegram bot interface. The system generates a unique mining wallet for each user. Hash Power, the fundamental unit of mining capability, is acquired by depositing SOL into this wallet at a rate of 100 Hash Power per 0.1 SOL.
The GNME system maintains a consistent daily block generation rate of 1200 blocks. To achieve this, the block time dynamically adjusts between 1-2 minutes. Each block mined results in the distribution of $GNME tokens to active miners, proportional to their Hash Power share in the network.
Accumulated $GNME tokens become available for claiming every 15 minutes. To optimize network efficiency, token distribution occurs in batches. This mechanism ensures a balance between frequent reward availability and system performance.
The GNME ecosystem has a fixed total supply of 21,000,000 $GNME tokens, distributed as follows:
The daily token emission begins at the initial daily reward (defined in the config) and increases by 1000 tokens each day, up to a maximum defined by the config. A halving mechanism is implemented to ensure long-term sustainability:
Here's the code snippet that calculates the current block reward, taking into account the emission schedule and halvings:
async function currentBlockReward() { const mineStart = await database.findMineStart(); if (!mineStart) { console.log("Mine start not set"); await database.createMineStart(); return config.INITIAL_DAILY_REWARD / 1200; // Initial reward for the first day } const startDate = new Date(mineStart.startDate); const currentDate = new Date(); currentDate.setHours(0, 0, 0, 0); // Set to start of the current day const daysSinceStart = Math.floor((currentDate - startDate) / (1000 * 60 * 60 * 24)); let baseEmissionPerDay = Math.min(config.INITIAL_DAILY_REWARD + (daysSinceStart * 1000), config.MAX_DAILY_REWARD); let halvingPeriod = 20; // Initial halving period let halvings = 0; // Calculate halvings if (daysSinceStart >= 20) { halvings = 1; let nextHalvingDay = 20; while (daysSinceStart >= nextHalvingDay) { halvings++; halvingPeriod *= 2; nextHalvingDay += halvingPeriod; } } // Apply halvings const emissionPerDay = baseEmissionPerDay / Math.pow(2, halvings); // Calculate reward per block (1200 blocks per day) const blockReward = emissionPerDay / 1200; return blockReward; }
This code ensures that the daily emission increases by 1000 tokens each day until it reaches the cap defined in the config. The halving mechanism reduces the emission by half at each halving event.
Below is a table showing the halving dates and monthly $GNME emissions, starting from August 24, 2024, assuming an initial daily reward of 1,000 $GNME and a maximum daily reward of 21,000 $GNME:
Date | Event | Days Since Start | Daily Emission Before Halving | Daily Emission After Halving | Monthly Emission (30 days) |
---|---|---|---|---|---|
Aug 24, 2024 | Start | 0 | 1,000 | - | 30,000 |
Sep 12, 2024 | 1st Halving | 20 | 20,000 | 10,000 | 300,000 |
Oct 23, 2024 | 2nd Halving | 60 | 10,000 | 5,000 | 150,000 |
Jan 01, 2025 | 3rd Halving | 130 | 5,000 | 2,500 | 75,000 |
May 21, 2025 | 4th Halving | 270 | 2,500 | 1,250 | 37,500 |
Feb 28, 2026 | 5th Halving | 550 | 1,250 | 625 | 18,750 |
Sep 16, 2027 | 6th Halving | 1,110 | 625 | 312.5 | 9,375 |
Oct 23, 2030 | 7th Halving | 2,230 | 312.5 | 156.25 | 4,687.5 |
Note: The monthly emission is calculated based on 30 days. The actual emission may vary slightly due to the number of days in each month. The first halving was after reaching 20 days of mining, each halving event reduces the daily emission by 50%, as shown in the table.
Tokens are slowly released from a Streamflow token vesting contract to the treasury wallet on a daily basis over the next 6 years.
This tokenomics model is designed for long-term sustainability, rewarding early adopters and active participants while maintaining a healthy token economy.
Dexscreener: View on Dexscreener
Trade on Jupiter: Swap on Jupiter
To ensure long-term sustainability and controlled token distribution, GNME implements a token locking mechanism:
Contract Links:
Primary Streamflow Lock: 10M Token Lock
Secondary Streamflow Lock: 500K Token Lock
Jupiter Token Locks: Jupiter Token Lock #1
Contract Addresses:
6rbaDy5pJBxqxUEbeWSFR3MXTZbjvbetWSKFoMC3Jdvx
E4MtVnurFPKSPSbZqtVv1icC7HQHWdyec7qLmAVnxc2K
4QLMZKDZsPQ7wdkCrGmEYDaP9FU91xBAHS3i1BtNTZak
FoBpJx1oTPxS29zZjf3fC2vziHRFsAts94Me7poY8Kbt
By implementing this gradual release strategy, GNME ensures a consistent and predictable supply of tokens for mining rewards, supporting the game's longevity and providing stability to the token's economy.
Initial liquidity consists of 10,000,000 $GNME tokens paired with 20 SOL. This liquidity is locked in Meteora pools, allowing the protocol to earn fees from swaps, contributing to the project's long-term sustainability.
Meteora Liquidity Lock: View on Meteora
To incentivize community growth, GNME implements a lifetime referral program. Users earn 15% of the SOL spent by their referrals on Hash Power purchases, creating a sustainable model for community-driven expansion.
IMPORTANT:
The GNME project, like all memecoins and cryptocurrencies, carries significant risks and is highly speculative in nature. Potential participants should be aware of the following:
By participating in GNME, you acknowledge that you understand these risks and are acting on your own behalf. Do not purchase $GNME tokens if you are not experienced with cryptographic tokens, blockchain-based software systems, and cryptocurrency trading.
Remember:
This is a memecoin project. It's meant to be fun, entertaining, and potentially educational about blockchain mechanics. It is NOT a serious investment opportunity. If you're looking for investments, please consult with a qualified financial advisor.
GNME presents a novel approach to cryptocurrency mining simulation, leveraging the Solana blockchain's capabilities to create an engaging and potentially rewarding ecosystem. By combining elements of gaming with real cryptocurrency mechanics, GNME aims to provide a unique experience in the Web3 space, fostering a community of virtual miners while maintaining a sustainable and deflationary token economy.
This whitepaper is for informational purposes only and does not constitute financial advice.
© 2024 GNME Project. All rights reserved.