The Token — BeMine | Pawā

BeMine | Pawā

Pawā is a utility token that offers cost-cutting options for equipment owners and potential mining contributors. It already acts as a price-cutter for maintenance of ASIC machines and provides large discounts on modern equipment. But in the future, it will also serve as a fee-cutting tool for P2P trading of ASIC’s shares. When another NFT mining farm is legally and functionally ready then selling of its shares begins.

Why token?

To mine Bitcoin, you require equipment for decrypting transaction blocks called ASIC miners. Apart from offering streamlined service and the cheapest electricity rates in the world, we now have Pawā that provides great discounts for purchasing mining equipment and services.

Tokenization of assets has a number of serious advantages:

  • first of all, tokenization makes it difficult for hackers to access cardholder data compared to older systems in which credit card numbers were stored in databases and freely exchanged over networks;

  • another advantage of tokenization has already been revealed earlier. It consists in using tokens exclusively inside the environment for which they were created, and in the uselessness of these tokens outside this environment. If hackers do not hack the tokenization server itself and do not get the source data in this way, then the stolen tokens will not bring them any independent benefit and will not be able to be used for anything;

  • when making transactions in relation to a tokenized asset, there is no need to access real source data, which eliminates the risk of their disclosure. And since there is no mathematical relationship between randomly generated and source data in the token, it is impossible to find out its content;

  • due to the fact that the token replaces sensitive information with randomly generated information, systems that use tokenization are often exempt from those checks that are mandatory for other systems working with personal data.

  • in comparison with encryption, tokenization is much easier and more reliable: the main advantage is that tokenization allows you to store sensitive data only in one place, whereas encryption involves storing confidential information simultaneously in different access points, which significantly increases the risk of leakage. Moreover, tokenization is a less resource-intensive process than encryption;

  • tokenization of assets on the blockchain excludes a large number of intermediaries from the chain, since the blockchain technology itself is able to ensure the integrity of the transaction and the security of storing tokens, and the fewer intermediaries, the lower the cost of the transaction fee;

  • another advantage is the divisibility of any asset from the real world into an unlimited number of tokens, each of which will be a virtual share, which contributes to the transformation of low-liquid assets into highly liquid ones.

  • the next advantage is transparency and accessibility in relation to transactional data: any user can trace the movement of the token, view information about transactions made with it, which increases trust in the asset. All this is provided by blockchain technology, which guarantees the authenticity of any token movement and gives it a level of reliability that most digital assets do not possess.;

  • due to the specifics of the blockchain technology, the token has the property of immutability: the data recorded on the blockchain cannot be deleted or changed, which allows you to track every movement of the token. Each new set of transactions or blocks in the chain depends on other blocks to be validated. Thus, a tokenized asset in the blockchain can eventually be traced to the real asset that it represents by those who are authorized to do so, while remaining secure, because transactions must be verified by each block in the chain. transactions are carried out using smart contracts, which increases the speed of their completion. Moreover, smart contracts facilitate document flow and eliminate most of the bureaucratic procedures, which not only significantly speeds up the process, but also helps to reduce corruption.;

  • in addition to all of the above, tokenization of assets also provides certain additional opportunities: tokens can not only be exchanged or stored, but also used as collateral to ensure the execution of transactions.

With Pawā tokens, you can reduce the cost of the machine and its maintenance by up to 45%, which significantly accelerates the payback of mining.

BeMine's Pawā token is a utility token that offers a wide range of cost-cutting options for equipment owners and those who have not yet purchased any ASIC machine. The token is designed to be a price-cutter for maintenance of ASIC machines and provides large discounts on modern equipment, making it an attractive and cost-effective option for those interested in cryptocurrency mining.

The use of a token model in the cloud mining industry is an effective way to increase user engagement and loyalty, while also providing cost-effective and flexible options for purchasing mining equipment and services.

BeMine's Pawā token provides a range of benefits for users, including discounts, access to exclusive services, and a decentralized governance structure.

  • Token is used as a form of payment for the service, providing a fast and secure way for users to purchase mining capacity. This helps to ease the stress involved in purchasing mining equipment, as well as providing a secure and easy way to do so. By using a token model, BeMine is able to provide a more efficient and effective service to its users, while also creating a strong and engaged user community that is committed to the long-term success of the service.

  • it is used to offer discounts or other incentives to encourage users to purchase mining capacity or to participate in the community. This helps to increase user engagement and loyalty, and will drive demand for the token. By offering discounts and incentives, BeMine is able to attract more users to the platform, which can help to increase the overall profitability of the service, capitalisation of token and affect its price.

  • Tokens are also used to provide access to exclusive features and services, such as premium mining opportunities and access to advanced analytics tools. This helps to ensure that users have access to the latest and most powerful mining equipment and tools, which can help to improve their chances of earning rewards from mining activities. By providing access to exclusive features and services, BeMine is able to create a more valuable and attractive service for its users.

  • Finally, tokens will be used to create a decentralized governance structure for the cloud mining service, allowing users to participate in the decision-making process and help to shape the future of the service. This will help to create a strong community and sense of ownership among users, which can help to improve the transparency and accountability of the service. By creating a decentralized governance structure, BeMine is able to ensure that its users have a voice in the direction and development of the service, which can help to improve the overall quality and effectiveness of the service.

The use of a token model in the cloud mining industry is an innovative and effective way to improve the accessibility and profitability of cryptocurrency mining. BeMine's Pawā token provides a range of benefits for users, including discounts, access to exclusive services, and a decentralized governance structure. BeMine's token model enables efficient and effective service provision, while fostering a committed and engaged user community.

What's next?

The Pawā concept could change the cloud mining industry, allowing new people and cash flows to enter cryptocurrency mining and seriously impacting the reliability and profitability of mining as a business. This includes the possibility of safeguarding and increasing your investment capital.

The financial world is irreversibly changing due to the emergence of distributed ledgers and transaction confirmation algorithms. BeMine is at the heart of these changes, and can adapt to constantly changing conditions, making it a reliable partner in the digital finance market.

BeMine's entry into DeFi will mark a new milestone in the industry of block decryption, providing unprecedented transparency and security to the cryptocurrency mining industry.

TOKEN BASIS

Additionally we’re offering staking for Pawā tokens. The staking contract is a smart contract that allows users to "stake" their PAWA tokens in exchange for daily rewards. In this case, the rewards are determined by the amount of PAWA staked and how long the tokens have been staked.

The staking contract is based on the idea that the longer a user holds their tokens, the more rewards they should receive. To implement this idea, the contract keeps track of the amount of tokens staked by each user, as well as the time at which the tokens were last staked or unstaked.

Below is the code that demonstrates how to use the PAWA token for staking. This process helps increase the token liquidity and encourages long-term user participation in the system. In the token documentation, we show how to use the PAWAStakingPool contract for staking PAWA tokens and receiving rewards. The code allows users to stake PAWA tokens and receive an interest rate depending on the staking period. Additionally, this code also shows how to modify staking parameters and how to pause or resume staking pool.

Staking

  1. The user calls the approve function on PAWAToken with the address of PAWAStakingPool and the number of tokens they want to stake.

  2. The user calls the stake function on PAWAStakingPool with the same number of tokens as in step 1. The contract generates the Staked event with a timestamp parameter, which will be needed to close the staking position.

Closing staking

The user calls the unstake function on PAWAStakingPool with the timestamp obtained in step 2 of staking. If the staking period has expired:

  • the user gets their tokens back

  • the user's balance is minted with the reward corresponding to the staking period specified in the staking position.

Pool pause

  1. Call the disable function on PAWAStakingPool. The caller is the owner of PAWAStakingPool.

  2. Revoke the mint permission Call the removeMinter function on PAWAToken with the address of PAWAStakingPool. The caller is the owner of PAWAToken.

Pausing the pool does not affect already opened staking positions and does not prevent closing staking positions.

Resuming pool after pause

  1. Call the enable function on PAWAStakingPool. The caller is the owner of PAWAStakingPool.

  2. Give permission to the PAWAStakingPool contract to mint tokens Call the addMinter function on PAWAToken with the address of the PAWAStakingPool contract. The caller is the owner of PAWAToken.

Changing staking parameters

Call the setStakingOptions function on PAWAStakingPool. The caller must be the owner of PAWAStakingPool. Parameters:

  • _rateNumerator - APY numerator

  • _rateDenominator - APY denominator

  • _minAmount - minimum amount of PAWAToken for staking

  • _term - staking period

Changing staking parameters does not affect already opened staking positions.

pragma solidity 0.8.17;

import "@openzeppelin/contracts/token/ERC20/ERC20.sol";

contract PAWAToken is ERC20 {
    mapping(address => bool) isMinter;
    address owner;

    constructor()
        ERC20("PAWA", "PWA")
    {
        owner = msg.sender;
        _mint(msg.sender, 1_200_000_000);
    }

    modifier _ownerOnly {
        require(owner == msg.sender, "Owner only");
        _;
    }

    function addMinter(address minter) external _ownerOnly {
        isMinter[minter] = true;
    }

    function removeMinter(address minter) external _ownerOnly {
        isMinter[minter] = false;
    }

    function mint(address receiver, uint256 amount) external {
        require(isMinter[msg.sender], "Cannot mint");
        _mint(receiver, amount);
    }
}

contract PAWAStakingPool {
    struct Staking {
        uint amount;
        uint rateNumerator;
        uint rateDenominator;
        uint term;
    }

    PAWAToken token;
    mapping(address => mapping(uint => Staking)) stakings;
    address owner;
    uint public rateNumerator;
    uint public rateDenominator;
    uint public minAmount;
    uint public term;
    bool public isEnabled;

    event Staked(address staker, uint256 timestamp);
    event Unstaked(address staker, uint256 timestamp);

    modifier _ownerOnly {
        require(owner == msg.sender, "Owner only");
        _;
    }

    constructor(
        PAWAToken _token,
        uint256 _rateNumerator,
        uint256 _rateDenominator,
        uint256 _minAmount,
        uint256 _term
    ) {
        owner = msg.sender;
        token = _token;
        rateNumerator = _rateNumerator;
        rateDenominator = _rateDenominator;
        minAmount = _minAmount;
        term = _term;
        isEnabled = true;
        _checkRates();
    }

    function setStakingOptions(
        uint256 _rateNumerator,
        uint256 _rateDenominator,
        uint256 _minAmount,
        uint256 _term
    ) external _ownerOnly {
        rateNumerator = _rateNumerator;
        rateDenominator = _rateDenominator;
        minAmount = _minAmount;
        term = _term;
        _checkRates();
    }

    function enable() external _ownerOnly {
        isEnabled = true;
    }

    function disable() external _ownerOnly {
        isEnabled = false;
    }

    function _checkRates() internal view {
        require(rateDenominator > 0, "Rate denominator should be positive");
        require(rateNumerator > 0, "Rate numerator should be positive");
    }

    function stake(uint256 amount) external {
        require(isEnabled, "Pool disabled");
        require(amount > minAmount, "Amount should be greater than minimum");
        uint timestamp = block.timestamp;
        require(stakings[msg.sender][timestamp].amount == 0, "Already staked");
        stakings[msg.sender][timestamp] = Staking(
            amount,
            rateNumerator,
            rateDenominator,
            term
        );
        require(token.transferFrom(msg.sender, address(this), amount), "Transfer failed");
        emit Staked(msg.sender, timestamp);
    }

    function unstake(uint256 timestamp) external {
        Staking memory staking = stakings[msg.sender][timestamp];
        require(staking.amount > 0, "No staked tokens");
        require(timestamp + staking.term <= block.timestamp, "Staking term has not yet passed");
        delete stakings[msg.sender][timestamp];
        require(token.transfer(msg.sender, staking.amount), "Transfer failed");
        uint reward = staking.amount * staking.term * staking.rateNumerator / 365 days / staking.rateDenominator;
        if (reward > 0) {
            token.mint(msg.sender, reward);
        }
        emit Unstaked(msg.sender, timestamp);
    }
}

The rewards for staking are based on three tiers, each with a different annual percentage yield (APY). Users who stake up to 5,000 PAWA earn a 5% APY, users who stake up to 25,000 PAWA earn a 10% APY, and users who stake more than 100,000 PAWA earn a 15% APY. These APYs are expressed in terms of a daily reward percentage.

The staking contract is also designed to allow users to stake and unstake their tokens at any time. When a user stakes tokens, the contract calculates rewards they may have earned. Then each day user receives PAWA tokens in total of 15% annual income. When a user unstakes tokens, the contract delivers tokens and estimated rewards back to the user.

PAWA staking contract is a way for users to earn additional PAWA tokens by holding onto their tokens for longer periods of time, while still retaining the ability to unstake their tokens at any time.

Summarizing Usability of PAWA token:

Below is the short list of highlights of the PAWA token, as well as the scenarios in which we expect it to be used:

Inside BeMine:

  • Purchasing shares of ASICs

  • Purchasing NFTs

  • Payment for electricity and maintenance of purchased/hosted capacities

  • Discount function

  • Referral Royalties (RR)

  • Purchasing rare collectibles

Outside BeMine:

  • Merchandise and physical goods shopping

  • DAO voting

  • Staking

  • Bug hunting, bounties, and rewards

  • Hosting mining equipment

  • Supporting mining-oriented research

  • Maintaining mining infrastructure

We do not consider the above list of scenarios for using the PAWA token to be exhaustive. As the BeMine service develops and expands its sphere of influence, the company plans to also increase the functionality for the token. In this context, the company's goal is to implement the token in the greatest number of scenarios.

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