The program aims to welcome new users who took part in the recently concluded xSuter Genesis auction by allowing them to earn the SUTER token.
Auction Kick Off
Layer-2 blockchain privacy payment protocol, Suterusu, recently concluded an auction of its xSuter token. xSuter is Suterusu’s in-house token. The auction began on June 7 and ended on June 9, 2021. Participants were required to lock their SUTER tokens for either one month, three months, or six months. Rewards were determined by the amount of SUTER tokens each participant deposited in the auction’s smart contract and the multiplier for each lock period.
Lots of new users joined the Suterusu ecosystem during the xSuter auction. The Suterusu team announced a new xSuter Privacy mining program on June 15. The program aims to give new community members an opportunity to yield-farm Suterusu’s main product, the Suter Shield token.
Details of xSuter Privacy Mining
The new xSuter mining program will be conducted on Binance Smart Chain. Participants will be required to deposit their xSuter tokens.
A total of 2.8 million SUTER tokens will be distributed to miners. Rewards accruing to each miner will depend on each miner’s computing power. The computing power is a function of the volume of xSuter staked.
The xSuter Privacy Mining program is split into two phases: pre-mining and mining phases.
Details of the Mining Phases
Pre-mining Phase: The pre-mining phase began on June 21 and will last for four days. During this time, users are to accumulate their mining power by staking xSuter.
Mining Phase: The actual mining will start on June 25 at 12.00pm (GMT) and will last for seven days, ending on July 2 at 12.00 pm (GMT). Seven days after the end of mining, the rewards will be disbursed linearly.
How To Increase Mining Power
Miners can further enhance their rewards by acquiring multipliers. To activate the option, a user will have to stake SUTER tokens. Up to 1.5 times a user’s total computing power can be attained by staking SUTER.
Here is a guide on multipliers and the xSuter Privacy Mining program in general.
Building On Previous Successful Mining Programs
The outlook on the xSuter mining program is positive. It is expected to attract a good level of participation like its predecessor, Suter Shield Privacy Mining Program, which ended on June 15. As many as 1244 persons took part in that mining event.
The Suterusu team will make further announcements about the mining program in the coming days, so stay tuned.
Suterusu, founded in 2019, is a privacy protocol which enables users to keep their cryptocurrency transactions anonymous. The protocol currently runs on Ethereum, BSC, and Polygon chains. Suterusu uses advanced cryptography to make users’ blockchain transactions confidential.
Source : bsc.news
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