Forge Token 2 Month Summary
Introduction
Forge is now officially over 2 months old and what a first two months!
Lets get to the good part, stats
Currently 22 miner addresses and over 50 devices
36 different stakers
Over 6,700 0xBitcoin and 335,000 Forge tokens in our Liquidity Pool.
Over 70% of the circulating supply is staked!
This is huge and proof we have a successful idea here. Incentivizing staking works so well. With such a large percentage of the supply available to buy and Stake for a healthy 150% APY is just great marketing material to other non-miners. Allowing a fair buy without large slippage, this allows for larger orders than normal.
Miners getting an extra few 0xBitcoin a day for their FPGA is the reason we are so popular with them!
Dual mining is a huge hit and sure to be one of the BEST dynamics of Forge!
With dual mining we can mine any other Cryptocurrency at the same time as Forge. Anything that can mine on the FPGA we are able to dual mine, boosting profits and helping distribution.
Proof of Stake
The larger Forge grows the more Stakers, Miners, and Holders will benefit! As Stakers you benefit from higher Forge prices by larger distributions of 0xBitcoin from the Auctions and your own LP increases in value. As you gain profits you are needing to sell less likely allowing us to have large liquidity that isn’t suffering from Impermeant Loss. That is the design of Staking, to help erode IL. So far we have returned about 25% of your Staked Forge if you were at the start(2 months time). This is what decentralized tokens are all about, adding layers ontop of layers to create new ways to secure assets, all relying on decentralized protocols(0xBTC, ETH, Polygon, Forge).
Proof of Work
Current Forge Pool hashrate: 600 gh/s
With over 20 FPGAs mining Forge it is competitive; however, Forge doesn’t overprint tokens for adding hashrate. So adding lots of hashrate doesn’t multiply rewards it just spreads them thinner, this penalizes our miners but also penalizes larger miners with tons of hashrate that would normally take over tokens. We are trying to create a alliance of Hashrate that will battle against these large hashraters in the future when Forge becomes even more desirable.
Forge dual mining means we spend 85% of the time on 0xBitcoin and 15% of the time on Forge. As Forge grows in hashrate the shift even more in 0xBitcoins’ favor. Allowing Forge to grow while not damaging small miners. This is the advantage of dual mining and fair token printing!!
Proof of Auctions
We have only printed 500,000 Tokens in 2 months. or 8,300 a day. A very fair starting distribution because that is still the same rate of distribution. A advantage of Forges mining algorithm!!! Since the auctions contract distribution depends on Forges distribution it allows lock-step distribution of funds on all contracts.
Auctions have brought in 1850 0xBitcoin in 13 auctions! That is very impressive and all of it is redistributed to Miners and Stakers! By participating in auctions you have the chance to score Forge below market price!!! This helps by allowing fair selling of our token instead of market selling!! The funds being cycled to Miners and Stakers allow them to fight costs and hold Forge for even longer!!!
Final Thoughts
And who doesn’t love 1 cent transactions!!! Forge gets to do things Ethereum users cringe over. They would never be able to support a small scale operation without going broke over fees!!! Forge has all the fun of Ethereum with all the costs associated with pocket change. Forge has an airdrop mechanic in discord that can drop 1 token to anyone!!! Build that on Eth!
Forge is all about community. Forge hopes to educate and enable everyone to become a powerful blockchain user!!! Forge is all about learning and growing. If you have a suggestion or comment please let us know we are working to become the strongest asset that has ever existed.
Also in my opinion Forge is not a security which will be a huge hurdle to get over for many tokens besides Bitcoin and 0xBitcoin in the coming years.
DYOR, this is not financial advise.
https://www.forgetoken.org
