We have just Launched on the Polygon Network, and We may be the First Proof of Burn Token in Existence.
The First Proof of Burn was a Full Blockchain, the Difference being that the Blocks in the Blockchain are actually being Moved by the Burners, in our Token Model the Burners are using the Polygon Blockchain so they are not Part of the Blocks Moving.
https://slimcoin.info/
We could Call this Proof of Activity, but it is Proof of Burn.
Proof of Activity
https://bitcointalk.org/index.php?topic=102355.0
Burn Mining (Proof of Burn)
https://bitcointalk.org/index.php?topic=5379409.0
How Proof of Burn Works
The way Proof of Burn Works is similar to Proof of Stake, the Best way to understand Proof of Burn is just to imagine it Works like Proof of Stake, the Tokens are Staked, New Tokens are Rewarded the same way as like Mining, and the main Difference between PoS and PoB is that in Proof of Burn You can NEVER UNSTAKE YOUR TOKENS. Once the Tokens are Burned they are gone forever. There is no Guarantee that You will get the same amount of Tokens back, so it will be good to get in Early, and to always know what the Overall Burn is looking like, so as to be able to keep up with Everyone else. There will be the Option of Buying in, so You can Buy these Tokens off the Market, and Burn them so that Your Hashrate for Mining (Hashrate is usually what it is Called when You Mine) goes up. And by asking a few Questions or doing a little Math, You can Discover what You will need to Burn to Catch Up with the Whales.
We called this Token DeFiBronze because we will soon be Launching DeFiSilver and DeFiGold, and the Currency is being Launched from Dallas, TX, which is in DFW.
To Burn Tokens, Everyone will Send their Tokens to this Burn Address:
0x000000000000000000000000000000000000dEaD
This means that You need to be on the Polygon Network where You can see Your DFB (DefiBronze) Tokens, and once You are on the Network and can see Your Tokens, You send them to the Burn Address.
DeFiBronze has an Unexpected Feature. We are going to be Launching a DeFiCopper now and DeFi Copper will just be Burn Mining, but DeFiBronze was Found to have a Feature (Because of the Logic used to Create the Mining Feature) where You get Shares from the Past.
So with DeFi Bronze, when You Submit Your Burn, You will seem to get some amount sent back to You. That was not Sent back to You from the dEaD Wallet, it was not Minted off the Blockchain. That came out of all the Other Users' Wallets.
So when You get Your Mining Shares for the 60 DFB Tokens per Minute, You also get Past Shares rewarded to You, and it Removes it from Everyone Else's Wallet.
We were going to consider this another Bug and Fix it, but instead, we are going to let this Continue. We are going to let that be a Feature of DFB, and we are going to make DeFiCopper (DFC) without this Feature. So this is a Feature of DFB.
Wallets:
https://www.coinbase.com/wallet/downloads
Specs:
60 DeFiBronze (DFB) Tokens are Released Every Minute, if this were Traditional Mining we would call this a Block Rate of 1 Minute, and Block Reward of 60 DFB.
There are 18 Decimal Places, so Everyone should be able to always get their Share
Instead of Blocks and the Person who has the most Burned getting all the Blocks, Everyone get their Share Every Minute. If You have done 1% of the Burn in the History of the Token, You will get 1% of the 60 DFB per Minute.
Mining has Started less than an Hour before this Thread was Posted and there is an AirDrop happening, so we are working to make it a Fair Launch
The Max Supply is 5 Billion, which should last 8 Generations of Human beings, so if the Polygon Blockchain Stays up for 8 Generations, so will this Currency and the Dynamics could get very interesting over all that Time. We could be the Founders of a Currency used in a Space Colony and we don't even know it yet.
Contract:
Our Token
Contract Address
0x839fd63aDDB3b1543Ff1fEa00886b7E6bf4d3274 (this is not the Burn Address, do not Send Tokens here)
If You Clone our Contract, make sure to make a Comment here and tell us the name of Your Token.
Listing:
We will be getting Listed on QuickSwap ASAP and TribalDEX.
We have Launched DeFiCopper (DFC) to go with DeFiBronze:
https://bitcointalk.org/index.php?topic=5497474.0
This is the Link to the DeFiCopper Thread.
DeFi Bronze = Proof of Burn, with a Feature that Draws Past Shares for New Burns, and takes that from Other User's Wallets
DeFi Copper = Pure Proof of Burn, Tokens are Burned, New Blocks are Mined (it is a Token, so it has a Pace but there are no Real Blocks being Mined) and Distributed to those who Burned
This method sounds really interesting, even so how much guarantee can there be that at least the investment is recovered in a fair period of time for the investors in question.
In this way it
There is never a Guarantee that the Person will Receive back the Tokens they Burned, within their Lifetime. But, there is an ability to Buy and Burn more than Everyone else, then to Keep Burning, and always forever get more back than Everyone. But that includes Burning and Burning and Burning.
We will have an Entire Ecosystem so this will just be like 1 Choice at the Arcade or Casino kind of. This is just 1 of many. But provides a Forever Flow of Tokens for even just 1 Burn.
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STOPSounds good