ABAS is a token on a contract on the Arbitrum One blockchain. The token contract is ownerless, trustless, and 100% decentralized on the Aribtrum One Blockchain. Zero developer fee on the contracts. Arbitrum Bitcoin and Staking (ABAS) uses a Proof of Work system that distributes rewards, and enables our auction and stakings features.
21,000,000 (40%) ABAS Tokens distributed via Staking Contracts 21,000,000 (40%) ABAS Tokens distributed via Proof of Work Contract(Mining) 10,500,000 (20%) ABAS Tokens distributed via Auctions Contract 50% of the Ethereum raised from the Auctions contract goes directly to Miners via Proof-of-Work, miners recieve Ethereum per Solve. 50% of the Ethereum raised from the Auctions contract goes back to Liquidiy Providers via the Staking Contract!
40% of the ABAS Token Supply is distributed by the Liquidity Provider Staking Contract Each Staking rewards contract will recieve in total 21 million tokens or 28% of the total supply The speed at which Stakers are rewarded will be deteremined by Proof-of-Work miners. The rewards are split fairly and disitributed over a period of time to all Stakers. Pool # 1 is a SushiSwap staking pool of ABAS / Ethereum tokens This will 100% fairly and 100% decentrally distribute tokens to our Liquidity Providers, helping defeat Impermant Loss often associated with it.
40% of the ABAS Token Supply is distributed to Proof-of-Work Miners. They solve a complicated hash that rewards them with ABAS tokens. Which generatres a new complicated hash for the next miner to solve. All 100% done on chain and 100% trustlessly and 100% without an owner of the contract Along with the ABAS Tokens, miners will also recieve 0.05$ in Ethereum for every solve if available. The token gets cheaper to mine for the first 8 reward Eras instead of more expensive. Ensuring the token is always mined! Max Difficulty of 4 TH/s at 12 minutes. To prevent ASICs from griefing there is also a small fee associated Variable Fee to mint: From 2.00$ (Paid in Ethereum by the miner) at 0 seconds to 0.18$ at 12 minutes to 0.005$ at 6 hours This generates Ethereum for future miners and liquidity providers since 50% of the spent Ethereum goes back to miners and 50% goes to Liquidity Providers. This stops powerful ASICs from running up the difficulty for free.
20% of the ABAS Token Supply is distributed by the Auctions contract. The speed which blocks are mined by Proof-of-Work miners will determine the auction length, fast miners = short auctions. Averages to 72 hour auctions. Each auction will sell 32,768 ABAS Tokens split to all bidders evenly depending on how much Ethereum (ETH) they bid for the auction. Your ETH Deposited into Auction / Total ETH for Auction * 32,768 = Your ABAS Tokens you will Recieve. 100% Fair based on amount of Ethereum spent at that auction. All tracked and stored decentrally and trustlessly!
Along with the ABAS Tokens and the Ethereum Tokens, miners will have the ability to mine up to 65 other Cryptocurrencies! Any ERC20 sent to the ABAS Contract will become instantly mineable! With most of the supply being distributed over 100 days. This allows any token to become mineable, without having to run their own proof-of-work system. Our system allows for basically any token to be mined, since miners pay nothing! We expect to see NFTs avaialble for mining very shortly!!! Send NFTs from Opensea and they become mineable!