Eco-Community Mining on CryptoZen
CryptoZen came into the decentralized finance ecosystem because it noticed issues that had yet to be solved by existing dApps. To improve the workings of the DeFi world, CryptoZen created an innovative crypto management dApp that offers incredible rewards to those users that utilize it.
The centralized finance realm is filled with banks and big organizations that are out to fleece their clients as legally as allowed. Institutions like the aforementioned are plagued with maladies that leave their users groaning in anger or disappointment. Red tapes and a long chain of bureaucracy surround the workings of the centralized finance world. CryptoZen aims to reduce the need for banks and incorporate a more effective and permissionless way of managing and trading crypto assets.
CryptoZen does not only solve the issues faced in the centralized world, it also takes it up a notch in the DeFi realm. Typical decentralized apps are difficult to use by newbies in the crypto world. Using these apps would leave the newbie wondering if they were created solely for professionals. Issues like this scare off newbies and reduce the rate of massive adoption by a lot. With CryptoZen, users that are not traditionally crypto traders can understand and utilize the dApp without stress.
Many innovative decentralized platforms out there are not using proven marketing methods that will drive the growth they desire. These platforms do not have a referral system and even loyalty schemes. It does not matter how topnotch a platform is, if users are not rewarded for spreading the good news of the perks and functionalities of the platform, it may not be successful. CryptoZen offers rewards to loyal users.
What Does CryptoZen Community Mining Entail?
Everyone wants to earn crypto, and mining seems to be a lucrative means of doing this, but this activity comes with issues. Cryptocurrency mining is a difficult task that involves massive consumption of energy. Sustainability theorists and activists have complained about the damaging effects mining cryptocurrencies with a large amount of energy and computer power have on planet earth.
Before a person can mine Proof-of-Work cryptocurrencies like Bitcoin, and Ethereum, a massive amount of energy has to be expended. It is not sustainable for the environment.
There has been an increase in calls for more sustainable community mining processes, and this is where CryptoZen comes into the equation. CryptoZen’s community mining processes are eco-friendly, taking out the need to expend massive amount of energy. Users can utilize CryptoZen’s eco-friendly dApp mine NINJA through its community mining program.
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Mining NINJA is a walk in the park for CryptoZen’s community mining enthusiasts. They do not have to purchase CPU or GPU computing power nor create a rig that consumes an outrageous amount of energy daily. All they have to do is log into the dApp daily, and carry out some tasks to mine. CryptoZen’s community mining program involves users earning NINJA when they carry out transactions and other activities, which will be disclosed by the team as time elapses.
CryptoZen’s Community Mining Rewards
The rewards earned from community mining will be distributed regularly. To ensure that the worth of CryptoZen, and its utility token, NINJA, remains valuable, the former has capped its supply at 1 Billion per chain, and no other tokens will be minted after that. Users that are involved in community mining will have access to 25% of all tokens, while 65% of the tokens are locked. Putting a cap on the total supply of NINJA and locking a percentage of it will go a long way to drive the value of the token.
CryptoZen’s team has drafted how the community mining rewards will be distributed. The distribution period will be fifty months, and every month will see users having access to 1/50th of the designated amount, with a cap of $30,000 in value per month. 250 million NINJA was dedicated to the Community mining program, meaning that 5 million NINJA will be distributed every month for fifty months.
At the moment, users can easily mine for NINJA on CryptoZen using Binance Smart Chain and Ethereum mainnet. The process is as easy as reciting the alphabet, as all the user needs to do is log in to the dApp and carry out transactions as per the following steps:
Step #1: Logging: You can do this by using a private wallet, such as MetaMask
Step #2: transaction information: the user sees all the transaction information and their balances.
Step #3: sending of transactions: the user can send transactions while swapping in different currencies even if they don’t know the recipient’s wallet address; they can also access various DeFi features, such as yield earning straightaway.
Step #4: Earning rewards: you earn rewards by using the Dapp and inviting others to use it as well.
Step #5: Discounts: Using the dApp platform, you get a discount on your transaction fees and by holding onto the earned tokens.
Newly Launched Governance Portal
Users are rewarded for logging into the Governance Portal regularly with the email they use in CryptoZen dApp. To be eligible for the reward, the user has to create proposals, vote on existing proposals, or submit a bug to the community.
Every week, the CryptoZen team calculates the number of proposals, votes, and bug submissions done by a user, then earmarks the necessary rewards to them. A proposal that is submitted is rewarded, as long as it is upvoted by other community members. After the team has automatically calculated the rewards of the user that participated in the Governance portal, it sends the rewards to the “Claim” area in the dApp. This is another classic example of community mining in CryptoZen.
