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MEP-2542: Multi-Token Mining for MEP-1004 Radio Miners

Abstract

This proposal introduces a mechanism for MEP-1004 radio miners to engage in multi-token mining using the structure of MEP-1002 hexagons. It lays out the rules, conditions, and operational parameters influencing mining capabilities and reward structures.

Motivation

With the limited capacity of each MEP-1002 hexagon, an efficient regulation and allocation of mining resources is essential. The introduction of $Sensor tokens, changes in fueling mechanisms, and the new role of ISO tokens necessitates the establishment of a revised protocol for mining operations.

Specification

  1. Hexagon Operational Time: Each MEP-1004 will have a limited operational time within a MEP-1002 hexagon. Once an interaction via MEP-2542 is initiated using MEP-1004, a count of 100,000,000 blocks is set. Upon reaching this limit, the MEP-1004 will be noted for Low-Scale-Certification ready and reduce the mining ability by half if LSC is not formed.

  2. Reward Claiming: During the period of 100,000,000 blocks, radio miner manufacturers should implement a reward-claiming function, enabling MEP-1004 miners to claim $Sensor tokens.

  3. Token Choices: All MEP-1004 miners can now mine up to three tokens, with xMXC serving as the sole fuel tank for their operations. The main mineable token for these miners will be $Sensor.

  4. Fueling Mechanism: The $Sensor token acts as an initial fuel tank for new miners. However, for refueling purposes, miners are required to purchase $xMXC. The conversion rate between $Sensor and $xMXC for boosting purposes is set at 1:1. It's noteworthy that while $Sensor is the primary fuel for new miners, any subsequent refueling will mandate the acquisition of $xMXC.

  5. $Sensor Token Role in Boosting: $Sensor tokens not only act as a fuel, but also play a crucial role in boosting the fuel tank.

  6. ISO activities To mine new ISO tokens, Proof-of-Participation from these tokens' sign-off is required, further emphasizing the importance of $Sensor tokens in the mining ecosystem.

  7. ISO Token Role: To engage in ISO token mining, $Sensor token is essential for boosting the fuel tank. The mechanics and rate of this boost should be further defined based on the dynamics of the ISO token. Also every ISO token will donate 3% of their transaction fees to the LPWAN mining pool as the network fee for miners to validate.

Rationale

  • Multi-Token Mining: With the capability to mine up to three tokens, miners have increased flexibility in their operations, potentially maximizing their rewards based on prevailing market conditions and token values.

  • $Sensor Role: Introducing $Sensor as the primary mineable token and an initial fueling mechanism promotes its adoption and utility. The two-tiered refueling process, involving both $Sensor and $xMXC, balances the token dynamics and ensures sustained mining operations.

  • Proof-of-Participation: The requirement of Proof-of-Participation for ISO token mining ensures that miners actively participate in the ecosystem, leading to a more decentralized and robust network. A 3% fee of the PoP for ISO tokens will be donated to LPWAN mining pool for all miners to validate.

  • ISO Token Utility: The introduction of ISO tokens for boosting the fuel tank when mining this token adds an additional layer of utility and demand for the ISO token.

  • 100,000,000 Block Cycle: Starting from a cycle of 100,000,000 blocks provides a balanced approach to resource competition, ensuring that no miner monopolizes a hexagon, thereby promoting fairness in resource allocation.

Backward Compatibility

While the proposal introduces significant changes to the fueling and reward mechanism, it does not inherently disrupt existing standards. Manufacturers and miners, however, must adjust and adhere to the new regulations and integrate the requisite functions for claiming rewards.

Implementation

Further technical details, including potential code snippets or detailed flow mechanisms, should be outlined here to guide developers and manufacturers.

References

Low-Scale-Certification : https://doc.mxc.com/docs/Designs/Low-Scale-Certification

MEP-1002 : https://github.com/MXCzkEVM/MEPs/blob/MEP-2542/proposals/mep-1002.md

MEP-1004 : https://github.com/MXCzkEVM/MEPs/blob/MEP-2542/proposals/mep-1004.md

LPWAN Treasury Contract: https://doc.mxc.com/docs/Designs/LPWAN