Influpia is a decentralized social project on the Bitcoin Layer2 network Merlin Chain. It is the first project on the chain based on the ERC404 token protocol. Its project token is ING, and its official statement is that its vision is to reshape the concept of online social influence, recognize everyone’s social network influence, tokenize it, and transform it into visible value.
How to interact with Influpia?
Currently, Influpia’s participation methods are mainly divided into two types: Farm and Shareholder:
Farm
Pass holders: A group of socially influential subjects, such as Merlin Chain founder Jeff, crypto KO.L.., etc., play the role of "Influencers" (also known as Palu in the Chinese community) and conduct mining. activities, they can mine Influpia’s project token ING. The following is an example of SLERF: its corresponding WORTH represents the price of the Influencers, and POWER corresponds to the current mining power of the Influencers. Users can purchase the Influencers by clicking BOOST (the price will increase by a fixed 10% each time it changes hands, and the mining power will also increase by 10%). GUARDIAN represents the current holder of the Influencers.
ING token mechanism: According to official instructions, ING will release a total of 1 billion tokens in the first year. Except for the 7% allocated to airdrop activities, the remaining tokens can only be obtained through Farm’s mining activities. It should also be noted that although each mining machine is mining coins at all times, users need to manually click Claim before they can claim the ING mined by the mining machine. If the mining machine is not claimed in time and is purchased by the next buyer, all the unclaimed tokens of the mining machine will belong to the next buyer. At the same time, if no one comes to buy a certain mining machine, and the holder never claims the tokens, then the mining machine will accumulate more and more tokens, which will eventually promote the next buyer to purchase.
Empower gameplay: For users who have bought Influencers, if no one comes to buy the mining machine but cannot take the initiative to sell it at a lower price, Influpia has also designed the Empower gameplay, that is, the mining machine owner can consume 300 ING Tokens are used to increase the computing power of mining machines. As long as the price remains unchanged, the performance of the mining machine increases and it will be easier to sell. It is worth noting that the ING tokens used to increase the computing power of mining machines will be withdrawn from the circulation market. In addition, Influpia has also designed a super Empower method, that is, if a mining machine holds 10,000 ING, it can obtain an NFT, which will increase hundreds of computing power and also enhance the competitiveness of the mining machine. .
Transaction fees: In addition, for each transaction of a mining machine, 5% of the transaction price needs to be handed over to the project party. That is to say, if a user spends 1BTC to purchase an influencer and sells it for 1.1BTC, the total assets obtained are only 1.045BTC. .
Shareholder
The rules of Shareholder are relatively simple. Users only need to pledge ING/BTC LP for a complete cycle to obtain shareholder status and have the opportunity to receive dividends. The official revealed that the token will be listed in the near future.