Polkacipher Documentation
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Token
TOKEN UTILITY
1) Auction of ADP Qualifications - Utilize CPHR to bid on ADP (General Data Provider) qualification auctions on a monthly basis. The entry level price is 0.01CPHR. The CPHRs that participate in the auction will have 25% of their value burned. Initially, the maximum number of ADP onboarding is 500, and the maximum number of ADP onboarding will be adjusted based on the results of the previous auction; at the same time, the maximum number of ADP auctioned every three months will increase by 1%
2) Data Reception - ADR (Application Data Requester) can obtain data services during the mining cycle without paying native tokens. The oracle node's revenue is subsidized by a portion of reserved tokens for mining. After the mining cycle is complete, the data can be accessed via staked CPHR. Each time, a minimum of 10CPHR is staked, which is paid separately. 25% of the CPHR consumed will be destroyed and distributed to the service's oracle node;
3) Mining Benefits - Each month, mining emissions are released linearly, and mining revenue is shared based on the percentage of data provided by ADP;
4) NFT Backing - $CPHR can be used along with other StableCoins to fund NFT's for transactions or to be used as collateral for loans.
Last modified 7mo ago
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