The dapp is about to be launched, and we have organized and answered some questions that the community may be concerned about:
Q: When will the dapp be launched and can I learn to mine and make money?
A: The plan is to open the public beta on September 2, 2022. Normally, it will be officially launched about a week after the public beta. Follow for details: https://qa.knowtoearn.io
Q: How to learn to mine?
A: Users get KNOW rewards by answering the questions correctly.
Q: What is the specific process?
A: Enter dapp---purchase student status---answer questions and learn---automatically get know rewards (of course, you can also purchase additional learning kits, which has increased the possibility of mining efficiency)
Q: What is the Learning Kit?
A: You can purchase additional study kits for your student status only after you have purchased your student status; you can only purchase a study kit once per student status. Learning Kit is really a game of probability. You need to spend the same money as your student status to buy a learning kit with up to 3 times the mining output. There are 5 stalls here. They are 1 times, 1.5 times, 2 times, 2.5 times and 3 times respectively. The magnification is randomized. It depends on your luck. If you win 2x, you have no additional mining output. If it's higher than 2x, you've earned it. Below 2 times, you are not worth the money.
You don't necessarily need to purchase an add-on learning kit. If you want to add a little more excitement, you can try to do so.
Q: What can be done to maximize the benefits of participation?
A: Theoretically, the more student status you hold, the more KNOW you will get by answering the same question correctly. However, in order to avoid the monopoly of income by large households, we have added a multi-student status attenuation mechanism to prevent large households from purchasing student status without restrictions. That is to say, the mining output obtained by the second student status held will reduce the mining output by 5% compared to the first student status. By analogy, the mining of the third student status will be reduced by 5% on the basis of the second student status, and the specific user can decide the number of student statuses to buy.
In the same way, we do not encourage continuous participation in answering and learning 24 hours a day, so the maximum number of answering questions per day is 1200. And according to 50 questions as a stage corresponding to different rewards. For example, if the reward for questions 1-50 is 100 million KNOW, then the reward for questions 51-100 will be attenuated by 5%, which is 95 million.
Q: What is KNOW's mining output algorithm?
A: The mining output of KNOW follows the following logics:
1. Only those with valid student status can learn to mine;
2. The output of KNOW is dynamically adjusted in real time according to the price change of KNOW. The lower the price, the greater the output, and the higher the price, the less output. At present, the annualized rate of return is set to 1200%. Based on this rate of return, the system will give different real-time mining output according to the real-time price of KNOW.
Q: How to prevent everyone from digging up the selling behavior after KNOW?
A: I think there will always be some users who will sell it after digging. What we can do is to try to keep the proportion of this wave of users as low as possible. As shown in the figure above, first, through the linkage mechanism between the output of know and the price of know, the problem of guaranteeing the return rate of participants after the price of know drops sharply is solved.
The second is the solution of the fundamental economic model. for example:
1. Through the dual-token design, users are encouraged to combine KNOW and IOTX into lp, and then mortgage to obtain KNOWI to obtain high IOTX dividends (30%);
2. Through the daily contest bonus (5%), users are encouraged to participate in the registration, and the KNOW consumed by participating in the registration will be destroyed.
3. Through a daily fixed 5% income dividend, KNOW is repurchased in the market and destroyed.
4. Because 70% of the iotx dividends are given back to the community as a whole, the iotx income from student status and toolkits is returned to users in large quantities, encouraging users to continue to participate in learning. form a positive cycle. In case of returning to a negative cycle, through KNOW's mining output and KNOW's price linkage mechanism to ensure stable income.
Of course, the above is not enough. The core is to create influence through the building of the blockchain knowledge base, and to get out of the circle. Out of the circle, a large number of users come in. in order to maintain a stable upward trend.
Check out our knowledge base in English and Chinese.
At present, the knowledge content published on these two sites has been reviewed, and basically all of them have been included by Google.
Some search terms have already ranked in the top 3 pages of Google.
Imagine that one day, users of web 2.0 search for knowledge content related to blockchain through Google bing yahoo yandex, etc., and they will see our knowledge base.
Don't be surprised at all, that day will come soon.
Q: What can we do now before launching the dapp?
A: See: https://qa.knowtoearn.io/
Finally show the demo