Introduction
Mner Club is a specialised RWA management platform that integrates real world assets with blockchain technology to issue, purchase, manage and distribute various RWA assets. By exploring a range of practical application scenarios for RWA assets, we can significantly improve its composability and provide a bedrock for the Decentralized Finance industry. The platform addresses the challenge faced by common models in the industry based on simple token subsidy and incentive by introducing positive externalities and interoperable asset models.
Mner Club began its journey rooted in the foundation of Bitcoin mining and has since transitioned to introducing the benefits of BTC mining to the blockchain ecosystem.
Future Roadmap
Mining Facility RWA, Bond RWA, Venture Capital RWA, AI GPU RWA
Mining Equity Token
Bitcoin mining
RMNER/R2MNER
RMNER is the standard ERC20 token that represents the transactional state of the asset. Users are able to trade and transfer freely in this mode. The mining income from the RWA mining pool will be injected into the liquidity pool on a daily basis to purchase rMNER.
R2MNER represents the yield generating form of RMNER. Holders of R2MNER will accrue BTC yield in the form of additional R2MNER on a daily basis without the need to engage in locking, staking or claim oriented behaviour. The underlying rebase and profit distribution mechanism (detailed below) between RMNER and R2MNER enables an unprecedented level of composability and sustainability.
Conversion
Through a minting protocol, users are able to perform swaps between rMNER and r2MNER on a 1:1 basis at any time.
Liquidity
Initially, an official pool of rMNER/BTC on the Merlin Chain will be provided with the following contract address: 0x4FD67c2D9e8c4fDd9C66954bafe124Ca50fC1819 where the team will inject initial liquidity. Additional liquidity will be added as nodes are sold down the road.
As part of the self-sustaining mechanism, mining revenue will be continuously injected into the rMNER/BTC pool, which enhances the liquidity for rMNER. This results in 100% of the yield to be able to be redeemed through the AMM mechanism as the rMNER acquired by the net mining revenue are removed from circulation.
REBASE Profit Distribution
The net income from BTC mining will be used to purchase rMNER through the official pool on a daily basis. The rMNER purchased in such manner will be minted into r2MNER through an automated swap process where the rMNER will be locked in conversion contract and the equivalent amount will be rebased into r2MNER and distributed to holders of r2MNER. The contract address of R2MNER on the Merlin Chain will be 0xC19Ccb3423157f5D537BAabA120eCAd80c4BA02e.
Rebase Illustration
Supply Circulation
RMNER
The initial circulating supply of rMNER is based on a 1:1 snapshot of the MNERs held by users in the old system. In addition, a corresponding amount is issued according to the liquidity parameters of the official liquidity pool. As additional nodes are sold in the future, a corresponding amount of rMNER will be issued based on the purchase amount once the sale is completed.
R2MNER
The initial liquidity of r2MNER starts at zero. Only by locking rMNER in the conversion contract will r2MNER be minted. The amount will increase automatically through the REBASE mechanism where revenue from the mining machines will be injected through the rMNER->r2MNER conversion process.
Revenue Enhancement
Sustainability
- A portion of the income of RWA will be retained during high-yield periods to recoup hash rate from hardware depreciation in order to achieve perpetuity.
- Based on mining income, facilitating the movement of mining machines at the right time, updating mining equipment, while reducing the proportion of electricity costs.
- Acquisition of computing power at optimal market conditions.
Hedging
In order to ensure the longevity and sustainability of the project, hedging operations will be carried out for electricity cost and income at appropriate times to lock in profit. This protects the long term interest of the community.
Composability
Introduction to Applicable Scenarios
- An underlying interest-bearing asset utilised by protocols in the blockchain ecosystem e.g. SOFA.
- An interest-bearing asset which supplements sustainable income of other protocols.
- A foundation for other protocols due to the interest-bearing characteristics of the assets.
- Loan agreement in the form of future cash flows.
The R Token mechanism enhances liquidity and composability of RWA assets due to the REBASE mechanism. As such, the rASSETs are highly interoperable and can be used for lending and staking with other DEFI protocols in the ecosystem to obtain additional income. R2 Token has permanent future cash flow rights to the income of the underlying assets. As such it can be combined with other protocols in the blockchain ecosystem to generate or enhance yield.
Inscription System
MINERAL
Blue Mineral is issued on the Merlin Chain as a BRC420 inscription. The holders represent early supporters who provided the funds to jump start the pool of income generating Real World Assets. By staking Blue Minerals on Merlin, users receive M-Minerals which can be used to participate in our ecosystem for a sustainable source of income.
M-Mineral Benefits
- Mining income
- Bonus yield e.g. rMNER
- Airdrop whitelist from collaborations
RWA Proof of Income
Proof of Profit from Mining RWA
Observer Link Announcement
Verification of Net Income Injection
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Tokenomics
Any addition to the circulating supply can only be achieved through new rounds of node sales (RWA).
Holders
70% of the tokens minted will be distributed to the purchase party in the form of rToken.
Ecosystem
20% of the tokens minted from each batch of RWA acquisition will be used for ecosystem incentives for collaboration opportunities in order to further boost our token holder’s value. Approximately 50% of the ecosystem token will be used to provide future income to holders (earnings from BTC mining are continuous outputs).
Team
10% of the tokens minted from each batch of RWA acquisition will be issued as incentive for the team with a token unlock period of 6 months cliff and 12 months linear release.
Breakdown
Total supply of rMNER based on the initial batch of RWAs amounts to 915,910.
| Category | Detail | Amount | Contract Address |
|---|---|---|---|
| Holders | Contract for users to collect their rtoken | 70% | 0x294ad5B1cFEb2B1177101604f6041e6dDFBaB40c |
| Ecosystem | Ecosystem Incentive | 10% | 0x6C3D2900f93515e90684eC41598219De8294f036 |
| Future Income | 10% | 0x03Feb8aabBae1b8DB5B83f26fab95e64be92d66f | |
| Team | Team incentive | 10% | 0x200FCEe7eD948664Ab726C0B4B2777D4a62Da74C |
Security
- All contracts are audited by reputable independent third parties and publicly available.
- Transparency of all contract addresses.
- Industry standard security mechanisms such as multisig wallets for assets.
- Transparency and accountability of the underlying RWA Management Team.