Become a Sole Interest Deployer (SID) in FUFI Blockchain and earn lifelong block rewards and partake in the governance of FUFI. As a great beginning in 2022 FutureFi has launched Fufi Edge Node. Participate in FUFI’s most awaited event and get 70% lifetime block rewards, Investors, Community and Hodler be ready to participate in the Fufi Burn Event.
What is SID or Sole Interest Deployer?
A Sole Interest Deployer or SID is an individual who burns his/her FUFI Coins. The term “burning” cryptocurrency refers to the act of completely eliminating a number of tokens from circulation. Burning tokens essentially removes them from the available supply, reducing their number in circulation.
When a coin holder burns his/her FUFI coin, he earns the title of Sole Intrest Deployer and earns 70% of block rewards for a lifetime. A minimum of 100 tokens is needed to be burned for receiving the title of SID in the FUFI blockchain. Whenever a coin holder burns 100 or more FUFI Coins the blockchain appoints the holder as SID or Sole Intrest Deployer.
Why become a Sole Interest Deployer (SID)?
- SID will be entitled to receive 70% of the block reward for a lifetime and also ensures a long-term price increase.
- For the SID of the network, voting governance will be issued. They will vote on the EBP pools based on the features presented by the pool proposers.
- SIDs are eligible to contest for EBP(Edge Block Producer). Users who will run the Miner Edge Node on their Ubuntu server are known as EBPs. According to the time range of the locked staking periods, EBPs will collect 30% block rewards.
- SID can burn any amount of FUFI coins to the PoBS Address, depending on the coins burned they will get a pool of 70% of the total block rewards based on the burn ratio.
- The only way to introduce fresh FUFI coins onto the market is through block rewards. A block’s reward is significant since it generates new coins, allowing for the currency’s dynamism and massification.
How to Become a Sole Interest Deployer(SID) & participate in the FUFI Burn Event?
- In order to qualify for SID status, a minimum of 100 FUFI coins need to be burned.
- For every coin burned SID will receive a voting token equivalent to the token buried by him. Example-: David has 5500 FUFI coins and he decided to burn 1500 FUFI Coins. Burning 1500 Coins will make him SID in blockchain and allocate 1500 Voting tokens for every token buried by him.
- As an incentive for burning FUFI coin SID will receive 70% of the Block reward. Our smart contract will validate his burning event and every time a block is discovered 70% of the block reward will be given to SID, the block reward will be distributed according to the ratio of burnt ratio. Example-: When David Burned 1500 FUFI coins he will get 1500 voting tokens, our conscientious algorithm will reward you proportionate to the voting token you hold.
- 70% of the block reward will be distributed amongst all the SID present in the ecosystem. Block reward will be distributed amongst the Sole Interest Deployer(SID) in the ratio proportionate to their holding in the FutureFi governance system. Example-: David has 1500 governance tokens and in the voting, he cast vote and used the 500 governance tokens in the process. Now he has 1000 governance tokens available, from the pool of rewards allocated for SID David will now receive block rewards in the ratio equivalent to the remaining 1000 governance tokens.
How to Burn FUFI Coin and become SID?
FUFI coins can be burned by sending the FUFI coin to the burn address. To do so you need to download the Fufi Edge Wallet from the Play store or App store. Set up your credentials and send the toke to burn address for i.e., a wallet from which they can never be recovered for burning the FUFI coins.
Burn Address: 0x00000..0000