Enecuum launched PoS challenge with 6,000,000 ENQ Fund

[PRESS RELEASE – Please See Disclaimer]

From 10/28/2020 to 02/05/2021 the first stage of the POS-challenge on the Enecuum platform will take place. The duration of the first stage is 100 days.

PoS challenge is conducted in several independent stages. Each stage starts after the end of the previous one. During each stage, the system delegates funds for participants’ PoS contracts in accordance with the rules. At the end of the stage, all funds delegated by the system are undelegated and the next stage begins.

Total amount of coins available for bonus delegation is 6,000,000 ENQ.

10/28/2020 to 02/05/2021 the first stage of the PoS-challenge will take place with a duration of 100 days. It consists of three parts:

10/28/2020 – 11/06/2020 – delegation.

11/07/2020 – 02/04/2021 – holding.

02/05/2021 – undelegation, i.e., withdrawal of the funds.

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Challenge mechanics:

1. At the beginning of the stage, the system remembers the state of all created PoS contracts.

2. If during the stage a user delegation occurs on the PoS contract, the system will automatically make a bonus delegation if the following conditions are met:

– the new balance of the PoS contract has become larger than at the beginning of the stage

– the fee of the contract does not exceed the fee of the Trinity contract

3. The amount of the bonus delegation is calculated as the sum of the user delegation multiplied by the coefficient. The coefficient depends on the remaining PoS challenge funds. At the beginning of the stage, the coefficient is equal to one and is then halved when the fund decreases.

Below is a table with the decrease in the coefficient depending on the remaining PoS challenge funds:

6,000,000 – 4,194,304 – x1

4,194,303 – 2,097,152 – x0.5

2,097,151 – 1,048,576 – x0.25

1,048,575 – 524,288 – x0.125

524,287 – 262,144 – x0.0625

262,143 – 131,072 – x0.03125

For instance:

1,000 ENQ are delegated to the POS contract, and the fund has 3,000,000 ENQ. The coefficient will be 0.5, and the bonus delegation will be 500 ENQ.

4. If the user delegation (or part of it) is withdrawn before the end of the stage, the system will withdraw the bonus delegation (or part of it). The withdrawn portion is proportional to the total amount of the bonus delegation.

For example, if the user has delegated 2000 ENQ, and the bonus delegation is 1500 ENQ, then when the user undelegates 1000 ENQ, the system will undelegate 750 ENQ.

Enecuum website: https://enecuum.com

How to run PoS: https://guides.enecuum.com/enq/how-to-pos.html#running-a-pos-node

Community in tg: https://t.me/Enecuum_EN

Blockchain explorer: https://pulse.enecuum.com