Mintoby
0xc809…61ea
VOTE#3. Energy efficiency baseline level improvement
We are proposing to improve the energy efficiency baseline level to be able to tokenize more up-to-date models of mining equipment.
Why are we proposing this? The current energy efficiency baseline level is 60W/TH (according to the Minto whitepaper. @https://minto.finance/resources/MintoWhitepaper.pdf). More up-to-date equipment models with approximate energy efficiency of 30-45W/TH are becoming widely available on the market, which will potentially allow Minto token holders to receive more profits. Given the specifics of the current bearish market trends, the Minto team sees a great opportunity to initiate the process of acquiring more modern mining equipment at low prices. The current baseline level limits us in this, as for every 30W/TH miner unit, we will need to purchase miners with low power efficiency to bring the baseline level to 60W/TH.
The Minto team is confident and believes that the 60W/TH limit needs to be changed and made flexible to allow the project to develop more efficiently and dynamically.
Your decision will allow us to either launch the process of baseline level changes, or leave everything as is.
What will change and what are the benefits? We will be making certain changes to the Minto Whitepaper to address the 60W/TH barrier. The new baseline level will be flexible, but will not exceed 60W/TH. The process of tokenization of the new mining equipment will change. We will be able to tokenize new modern equipment and lower the current baseline level. We will update the Stats section (@https://minto.finance/stats) with an up-to-date indicator of average energy efficiency. We will start planning negotiations with the key mining equipment suppliers on obtaining more favorable conditions for the acquisition of a new batch of miners and their subsequent tokenization.
We believe that from a strategic perspective these changes will allow Minto token holders to earn more profits. Here are some calculation examples of the potential BTC mining profit: Initial conditions: • Mined Bitcoins for November 13, 2022: 0.18768844 (source: https://www.f2pool.com/mining-user/06510a9d9d36f01fb7cbad861fb6c4cb) • Bitcoin rate: 16,832 USD (source: CoinMarketCap) • Daily costs = Hash rate energy efficiency x Electricity price x Hash rate x 24 x 1.03 (Source: Minto whitepaper)
Scenario #1. If the baseline level remains the same (60W/TH): Daily costs = 0.06 x 0.0347 x 55196.47 x 24 x 1.03 = 2 841 USD Daily costs = 2841 / 16832 = 0.1688 BTC Profit = 0.18768844 - 0.1688 = 0.0189 BTC
Scenario #2. If the baseline level becomes flexible and the average power efficiency is 45W/TH: Daily costs = 0.045 x 0.0347 x 55196.47 x 24 x 1.03 = 2 131 USD Daily costs = 2131 / 16832 = 0.1266 BTC Profit = 0.18768844 - 0.1266 = 0.0611 BTC
Scenario #3. If the baseline level becomes flexible and the average energy efficiency is 30W/TH: Daily costs = 0.03 x 0.0347 x 55196.47 x 24 x 1.03 = 1 420 USD Daily costs = 1420 / 16 832 = 0.0844 BTC Profit = 0.18768844 - 0.0844 = 0.1033 BTC
We expect that the change in energy efficiency will have a long-term positive impact on the growth of the $BTCMT price by increasing profits and changing the mining equipment fleet to more modern models.
How will it work? Between 11/30/2022 and 12/15/2022: (a) We will update the Minto whitepaper with amendments detailing the new flexible tokenization system. (b) We will complement our website’s Stats section by adding a new “Average Energy Efficiency” parameter (c) We will add information on current energy efficiency and planned changes to the published monthly financial statements of the project
Starting on 12/15/2022, after completing the above-mentioned works, we will start planning negotiations with the key mining equipment suppliers on obtaining more favorable conditions for the acquisition of a new batch of miners and their subsequent tokenization.
What is required for this to work? Voting on the blockchain will take place @ https://vote.minto.finance/#/
Voting period: 11/21/2022 to 11/24/2022 10:00 UTC.
Over 51% "YES" votes are required to implement changes. If over 51% of the votes are "YES" votes, the changes will come into force on 11/30/2022 and we’ll begin to implement the scenario described in the “How will it work?” section.
The weight of your vote will be proportionate to the number of tokens you own. You’ll be able to vote even if your tokens are on staking and auto-staking smart contracts. Connect your wallet, choose an option and vote.
If you have difficulty voting or would like to know more details - join our community, we’ll definitely have a discussion here: https://t.me/btcmtofficialchat
Off-Chain Vote
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- Author
0xc809…61ea
- IPFS#bafkreib
- Voting Systemsingle-choice
- Start DateNov 21, 2022
- End DateNov 24, 2022
- Total Votes Cast675.67K BTCMT
- Total Voters78
Timeline
- Nov 21, 2022Proposal created
- Nov 21, 2022Proposal vote started
- Nov 24, 2022Proposal vote ended
- Oct 26, 2023Proposal updated