Meson Network will debut on OKX Jumpstart. Meson Network is a decentralized physical infrastructure network (DePIN) initiative that aims to create a simplified bandwidth marketplace. Starting at 6:00 AM (UTC) on April 26, 2024, Meson Network's native token, MSN, will be featured in the event.
In exchange for mining MSN tokens, OKX users will be able to stake Bitcoin and Ethereum during the event.
A total of 800,000 MSN tokens will be made available during the Jumpstart Mining event. These tokens will be split equally between two staking pools: 400,000 MSN in the BTC pool and 400,000 MSN in the ETH pool. Each participant is allowed to stake a maximum of 0.3 BTC or 3.5 ETH; there is no minimum amount needed. The two-day mining phase will end on April 28, 2024, at 6:00 am UTC.
Users must finish their identity verification with OKX in order to take part. However, participation in the staking program is restricted to users from Hong Kong, Korea, and Mainland China.
The percentage of a user's staked tokens in relation to the total amount staked in the pool is the basis for calculating staking incentives in real-time. OKX bases its calculating details on the subsequent formula:
"The user's per-minute rewards would be computed as follows: User's per-minute rewards = (0.1 / 1,000) * 10,000 = 1 (token) if the user has staked 0.1 BTC, the total number of BTC staked at that time is 1,000, and the amount of tokens released every minute is 10,000."
Throughout the mining phase, users are free to stake and unstake their Bitcoin or Ethereum. Within two hours of the event ending, users' staked tokens will automatically be restored to their funding account if they do not unstake before then. A later time will be provided for the exchange of mined MSN tokens.
Meson Network: Individuals empowering DePIN
The project that created the MSN coin, Meson Network, wants to transform Web3 by using a blockchain to create a simplified bandwidth market. Within the Meson network, the MSN token fulfills four essential purposes:
1. enabling consumers to obtain big-data services and bandwidth
2. rewarding miners who provide the network with server resources
3. When miners stake their claims, mining efficiency increases.
4. Encouraging democratic procedures like balloting and decision-making
Meson Network aims to provide a more effective and decentralized alternative to conventional labor-based sales methods in the bandwidth market with a total quantity of 100,000,000 tokens.
In order to create value and give more people access to flexible and scalable bandwidth, the project aims to create an ecosystem where users can trade their excess bandwidth resources with Meson. With an average latency of 90 ms, the network currently has over Network Edge locations offering 10TBps+ in network capacity.
April 2024, Cryptoniteuae