잡학다식 창고
Pi Network's mainnet checklist management STEP.4: Lock up 본문
N O T I C E
If you have not completed the previous steps in the mainnet checklist, please refer to this link first. ↓
https://novaframe.tistory.com/136 - STEP.1
https://novaframe.tistory.com/137 - STEP.2
https://novaframe.tistory.com/138 - STEP.3
"Lockup" is a policy of the core team that prevents buying and selling of Pi for a certain period of time after completing both the mainnet checklist and kyc and receiving the Pi with confirmed ownership.
Of course, you may choose not to lock up if you want to start using your Pi right after your final deposit. But even if you don't want to lock up, you need to do basic setup to complete checklist step 4. Please read this post carefully and I hope you don't have any problems with your kyc preparation.
Basic information about ‘lockup’
- Lockup is a policy often used by many cryptocurrencies.
- A lockup is implemented to prepare for a sharp drop in price when a large number of amounts are sold at once in the market. In other words, it is for the control of distribution volume.
- The Pi's lockup may not be set if you don't want it. But even so, you need to confirm that you do not want to lockup in the lockup settings menu.
- The Pi core team does not enforce lockup without any compensation. A bonus is paid to the mining efficiency per hour in proportion to the lockup period and quantity. Of course, this bonus is 0 for those who don't lock up at all.
How to lockup
[ important ] you must read this even for don't want to lock-up.
Refer to the image above and go to "configure lockup rate".
Set lockup on this screen, but be sure to click "save" at the bottom of the screen after completing the settings. Here are some tips to help you make your decision.
[ Basic usage ]
- If you don't want lockup, uncheck the box at the top of the screen.
- If you want to lock-up, check the checkbox and adjust the two gauges left and right.
[ importants ]
- The lockup we're setting up now is for the Pi that mines after kyc approval until the migration is complete. The core team has not yet released exact instructions for the Pi mined after the 1st migration, but in the future they will provide information on the 2nd lockup. In other words, even if 100% lockup is set for 3 years, there may be an opportunity to set up a separate lockup for the quantity mined after a specific time.
- The boost rate you see while adjusting the lockup gauge is not a multiplier of your current mining speed. The basis of all calculations is the "base rate" determined by the core team on the 1st of each month, multiplied by the lock-up boost and bonus.
- The countdown of the lockup date starts from the deposit date of the migrated Pi. Also, the end date of the lockup is randomly determined within 30 days from the expiration date. See the following example.
[ ex: On September 1, 2022, if the quantity of the first migration completed is 500 Pi and 50% of them are locked up for 3 years ]
In this case, the lockup expiry date of the 250Pi is randomly determined within the range of August 1st to September 1st, 2025.
After setting up the lockup, be sure to check the green checkbox in step 4 of the mainnet checklist.
If you've followed this far, you've probably completed steps 1-4 of the mainnet checklist. In the next post, I'll write about how to manage the notation of your real name, which you wrote when you first joined the Pi Network. Those who have already written their names correctly are ready to proceed with the kyc, so please refer to the previous post to proceed with the kyc.
