MNER CLUB
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
ltMNER / rtMNER
ltMNER 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 ltMNER.
rtMNER represents the yield generating form of ltMNER. Holders of rtMNER will accrue BTC yield in the form of additional rtMNER 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 ltMNER and rtMNER enables an unprecedented level of composability and sustainability.
Conversion
Through a minting protocol, users are able to perform swaps between ltMNER and rtMNER on a 1:1 basis at any time.
Liquidity
Initially, an official pool of ltMNER/BTCB on the BNB Chain will be provided with the following contract address: 0xD8678857562580DAFA57C420d2f253338928d295 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 ltMNER/BTCB pool, which enhances the liquidity for ltMNER. This results in 100% of the yield to be able to be redeemed through the AMM mechanism as the ltMNER acquired by the net mining revenue are removed from circulation.
REBASE Profit Distribution
The net income from BTC mining will be used to purchase ltMNER through the official pool on a daily basis. The ltMNER purchased in such manner will be minted into rtMNER through an automated swap process where the ltMNER will be locked in conversion contract and the equivalent amount will be rebased into rtMNER and distributed to holders of rtMNER. The contract address of rtMNER on the BNB Chain will be 0x47103e42ac8d6a5ba38A1511C153ef230C8cc675
Rebase Illustration
Supply Circulation
ltMNER
The initial circulating supply of ltMNER is based on a 1:1 snapshot of the RMNERs and R2MNERs 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 ltMNER will be issued based on the purchase amount once the sale is completed.
rtMNER
The initial liquidity of rtMNER starts at zero. Only by locking ltMNER in the conversion contract will rtMNER be minted. The amount will increase automatically through the REBASE mechanism where revenue from the mining machines will be injected through the ltMNER->rtMNER 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.
Maintaining Hash Rate and Power Efficiency: Strategy and Risk Mitigation
To sustain the fixed hash rate and power efficiency of Mner Club, the team will allocate a portion of the 30% reserve from net yield to fund essential hardware upgrades and improvements. Mner Club anticipates that the remaining portion of this 30% reserve, after accounting for working capital expenditures, will provide sufficient resources to maintain the hash rate. This expectation is based on long-term trends in pricing, the availability of enhanced computing power, and the increasing complexity of Bitcoin hashing algorithms.
However, unforeseen shifts in market or technological conditions could challenge these assumptions. Potential risks include:
- An unusually large or rapid increase in the computing power required to maintain the hash rate.
- Unexpected rises in the cost of advanced computing hardware.
- Supply chain disruptions, such as microchip shortages, or technological barriers to increasing chip density.
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. ltMNER
- 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 ltMNER based on the initial batch of RWAs amounts to 915,910.
| Category | Detail | Amount | Contract Address |
|---|---|---|---|
| Holders | Contract for users to collect their rtToken | 70% | 0x32831db128A735c659613D72736A478DfD4B9068 |
| Ecosystem | Ecosystem Incentive | 10% | 0x5F5af68367F337B242db65422929BD9B7445C918 |
| Future Income | 10% | 0x19e0F624c479A9EBC1D0583b5dC35Fa01fCD61b8 | |
| Team | Team incentive | 10% | 0x2B05F4384Dc67412d751Da212480251E75f26BB0 |
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.