SUPPLY REDUCTION & REWARDS
DIAMONDS SUPPLY REDUCTION FEATURES
There are three separate mechanisms within the DIAMONDS protocol to reduce the DIAMONDS supply.
DIAMOND EXCHANGE - Users crush DIAMONDS for ETH in weekly competitions
DIAMOND CRUSHER - 100% of ETH received into the crusher is used to crush DIAMONDS.
DIAMOND VAULT - CRUSH BONUS for STAKING SHARE RATE increase
DIAMOND EXCHANGE
The DIAMOND EXCHANGE is a weekly competition for ETH payouts, where users crush DIAMONDS for a share in the weekly ETH payout pool.
20% of all the ETH that comes in from mints are sent to the DIAMOND EXCHANGE to be competed for each week.
Participants earn a share rate based on amount of DIAMONDS crushed in relation to others.
Users are forfeiting their DIAMONDS in that exchange and it clears out every 7 days, pays out all of the ETH, and starts over.
NO user starts a new weekly DIAMOND EXCHANGE competition with a position from the previous week.
DIAMOND CRUSHER
100% of the ETH proceeds from DIAMOND CERTIFICATE sales and 20% of incoming ETH from the BLAZE protocol stake, through separate public callable functions, will buy TITANX, buy X28(or mint X28 if the ratio is 1:1 or above), then buy DIAMONDS and crush them.
This buy and crush mechanism has a circuit breaker function, which is designed to support the DIAMONDS token price long term, while not just running all the time. It automatically shuts off once the mining ROI is above the set threshold and will automatically become usable again, once it falls below that same threshold.
The buy and crush can never be disabled. However, the interval and the amount can be adjusted within certain parameters via admin functions.
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