Introducing DOD, a POW meme blockchain on ICP

General
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I added DOD as a preconfigured asset to the wallet at https://wallet.ic0.info/
You can now simply add DOD to your account list by chosing it from the drop-down menu:

Add DOD
Add DOD790×404 23.6 KB

1 Like
24

Thanks for your research into this burn mechanism.

When we were designing the burning mechanism. We figured that if minter and miner are not aligned with the mining cost, there will be a margin in between, either minters pay more than the miners ask or vice versa. So we were trying to design a mechanism to deal with the residual (minter - miner).

  • If we simply burn the margin, then within this system (cycles:DOD), cycles is deflational and DOD stays the same
  • if we use all the cycles to burn DOD, then DOD is deflational while cycles not
  • so we must design a mechanism to balance it, if we burn 50% of cycles and use the left 50% to burn DOD, this means cycles and DOD are both permanently burned. And the DOD is burned at market price making it systematically balanced
  • In real market, if buyers and sellers reach perfect consensus then it’s Pareto Optimality. Otherwise, money and resources are wasted (we often see that in economic crisis)
  • In terms of minters, for them it’s always deterministic of how much they are earning. Suppose the total block rewards 10000DOD and cycles at 10T. A minter with 1T contribution will earn 1000 DOD. The cycles burned is indeed a representation of market inefficiency
  • The cycles from Treasury into next block is known to all minters when the next block starts, so the minters could optimize their strategy for each block as the minting cost would arise due to last block burning. We are expecting to see well optimized minter script coming
  • From the minter’s perspective, from top down, burning DOD will always benefit them as the total supply is then diminished
  • Minters get the cycles from converting ICP, which is real cost. If minters pay less to miners, that means the miners will receive less cycles to mint DOD. In this scenario, Minter will have DOD superiority than miners

For mining cost, we are taking your advice to make it interval based to avoid unnecessary competition

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image
image1920×1920 188 KB

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What happens if two miners with the same cost find a block? Then the one wins who submits his solution first?

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yeah. Price and speed

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To ease the confusions of users, we have seriously considered the misunderstanding of this fake BTC transaction. DOD has launched its own DOD wallet to let everyone mine with 1 click.

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DOD, can you explain where did come 2mil token mint and 3.3 mil token mint?

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The mint operation is when someone is claiming DOD. Before claiming, the DOD balance is held in the DOD canister’s own ledger. Once claimed, DOD will be minted in the ledger for transfering

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We have added some DOD liquidity to daily-bid
For those who are unfimiliar with daily-bid,

  • first copy the wallet account (canister_id + subaccount). it looks like g2mgr-byaaa-aaaai-actsq-cai-wtba3uy.($subaccount)
  • Send DOD from dod.cool.
  • Claim it in daily-bid wallet. the balance should appear in the wallet
  • add liquidity in sell tab
  • waiting for transaction to be executed
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We rewrite the DOD Miner in rust for better mining efficacy. GitHub - DOD-Blockchain/miner-rust
Welcome to fork and optimize it. If anyone has ideas/interest in GPU mining algorithm, please DM us

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From website, " currently ICP wallets are not supported" … really guys?

1 Like
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DOD supports Internet Identity

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GPU Miner (Cuda) is now released for better mining efficiency

2 Likes