CYCON Token(CYCON) Startup Mining Initial Offering on Gate.io

About Gate.io Startup Mining

Gate.io Startup Mining is a staking product in the platform's Startup series, where users can stake designated tokens to receive rewards from the token pools.

Visit Startup Mining and learn more

1.Introduction to "Startup Mining" Project PSJ Global(CYCON)

The CYCON project is centered around OceanDrive, a decentralized storage solution based on blockchain technology, which rewards users with CYCON when they use the platform. CYCON is also used in the operation of WorldArtDexpo, an NFT exchange for physical artworks using OceanDrive, and in various games. The CYCON project is expanding the CYCON ecosystem by providing various services.

Website: https://psjglobal.io/

2.PSJ Global(CYCON) Mining Rules

(1) Staking Period: 12:00 PM on October 22nd - 12:00 PM on October 29th (UTC), 2024

(2) Staking Pool: CYCON

-Total Staking Rewards: 4.575.592 CYCON

-Prize Pool Per Hour: 27.235.66 CYCON

-Hourly Reward Cap Per User: 2.723.57 CYCON

-Minimum Staking Amount: 50.0 CYCON

-Unlocking Rule: 100% Unlock

(3) "Single-Coin Multi-Mining" GT Pool

-Total Staking Rewards: 9.151.184 CYCON

-Prize Pool Per Hour: 54.471.33 CYCON

-Hourly Reward Cap Per User: 3.812.99 CYCON

-Minimum Staking Amount: 0.01 GT

-Unlocking Rule: 100% Unlock

3.Reward Calculation and Distribution

(1) CYCON Staking Pool: The system will take multiple snapshots of personal staking amounts hourly, and take the average staking amount as the valid staking amount. Hourly staking reward = (Individual latest 1-hour valid staking amount / Total pool staking amount) × Hourly reward pool

(2) "Single-Coin Multi-Mining" GT Pool: The system will take multiple snapshots of the participants' GT holdings every hour, calculate the average to determine the effective holding amount, and distribute rewards based on that effective holding amount. Hourly Reward = (User GT Holding Amount / Total User GT Holdings in the Pool) x Hourly Reward for the Pool.

(3) Token rewards will be distributed into the spot accounts of eligible users hourly.

(4) Users can join CYCON Staking Pool or "Single-Coin Multi-Mining" GT Pool at the same time to earn rewards from CYCON pool and GT pool separately.

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