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Sucking 4.5 billion U.S. dollars, how can BDP, which is mined by mining giants such as SBF and Shenyu, participate?

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More than 4.5 billion U.S. dollars flowed into BDP in one day.

Original title: "Sucking 4.5 Billion U.S. Dollars, SBF, Shenyu and other mining giants all dig BDP participate? "

Original source: Babbitt

Big Data protocol (BDP) mining project It was completely popular, with an inflow of more than 4.5 billion U.S. dollars in one day. According to DeFipulse data, this result can be ranked fourth among all Ethereum DeFi projects. Mining giants including SBF and Shenyu are all mining.

Introduction to Big Data Protocol

March On the 6th, the BDP protocol officially launched the BDP seed pool, and started the mining of two new tokens, BDP and bALPHA. The mining of BDP tokens will last for 6 days, and the mining of bALPHA will last for 3 months. Users participating in staking will earn 100% of the initial circulating supply of BDP (30% of the total supply) and 100% of the total supply of bALPHA.

BDP and bALPHA Token Allocation

100% Initial circulating supply allocated to the community

BDP tokens: 100% of the initial circulating supply is allocated through 6-day seed pool mining. After 6 days, there will be no new releases of BDP for at least 2 months. And BDP does not have any kind of token sale.

bALPHA: This is the first data token of the BDP protocol, and 100% of bALPHA will be distributed through liquidity mining within three months.

Long-term liquidity mining

In the long run, the BDP protocol aims to incentivize liquidity mining . Users who provide liquidity can earn bALPHA within 3 months. Afterwards, two data tokens, bBETA and bGAMMA, will also be launched after bALPHA, which will further stimulate protocol liquidity.

Token Burn

As protocol usage and market grow, a portion of BDP and data tokens will be destroyed. When users use the protocol and the data market, BDP tokens will be destroyed, and they will also be used to pay for the submission of data sets submitted by data providers, and curators will provide curation services. Data tokens (such as bALPHA) are burned when they are redeemed for datasets.

How to earn BDP and bALPHA?

Log in to the Data Vault page of the BDP protocol (https://bigdataprotocol.com/datavault), and then connect to the Metamask wallet.

BDP

BDP tokens can be purchased via Obtained by pledge, users can pledge the corresponding currency to 12 seed pools including WBTC, WETH, USDC, USDT, OCEAN, LINK, SUSHI, UNI, YFI, AAVE, SRM, and TOMOE to mine and earn BDP tokens. currency.

bALPHA

bALPHA can be obtained by providing BDP/ETH or bALPHA/ETH liquidity to earn.

As of press time, the staking income of these 12 seed pools is generally above 100% APY, especially the APY income of the OCEAN pool reaches 3600%+, and the TOMOE pool The income is close to 4000%.

Mining cost

The pledge and liquidity mining of the BDP protocol are in Ethereum Therefore, although the gas fee of the Ethereum network has decreased recently, it is still not suitable for ordinary users to participate in earning BDP and bALPHA with small funds.

How much handling fee do I need to pay for a BDP token mining and withdrawal?

1. The user chooses the currency to be pledged, first clicks "Approve", this step needs to generate an approval transaction, according to the current network procedures of Ethereum Fee level, an Approve requires a gas fee of about 30 knives.

2. After Approve, you can pledge, click "Stake", this transaction requires about $27 gas fee

3. After the user pledges the corresponding token, if he wants to withdraw the DAP token, he needs to click "Claim". This transaction needs to pay about $14 gas fee

4. To end mining, you need to "unstake". This transaction requires about $30 gas fee.

Of course, you can choose to combine Claim and Unstake to end mining directly, which also costs about $30.

The BDP token pledge process requires at least one Approve, one Stake and one Unstake (and Claim), totaling about $87. Therefore, for small funds, it is difficult to pay back in a short time, and liquidity mining is very risky, and issues such as protocol security and revenue decline must be considered.