Datamine Network Enhances API for Staking Rewards Integration
💡 AI Article Summary
Datamine Network has completed its first round of integration feedback with Staking Rewards. To facilitate a seamless partnership and provide absolute transparency on-chain, several structural updates have been deployed to the Datamine public JSON API.
Clear APY Calculations and Multipliers
To help external platforms and users mathematically verify how native yield works, the API now includes a detailed breakdown of annual percentage yield (APY) under the apyPercent.breakdown object.
The system calculates the base yield (noBurn) and maximum yield (maxBurn) using the following formulas:
- Base APY (
noBurn): Calculated by dividing the USD value of FLUX generated over 365 days (without multipliers) by the USD cost of locking 10,000 DAM tokens, multiplied by 100. - Maximum APY (
maxBurn): Calculated as the base APY (noBurn) multiplied by 10, representing the maximum yield enhancement achieved through token burning.
The value costOf10kDamUSD is derived directly from the live pricing of DAM, and the unmultiplied FLUX generation is calculated from the active variables in the ecosystem's breakdown.
Enhanced User Metrics
In addition to the APY breakdown, the API update introduces the uniqueActiveLockedInAddresses metric. This metric tracks the total number of unique addresses actively locking tokens in the system, providing an accurate representation of active users.
These updates ensure external listing platforms can dynamically display accurate, verifiable yields as the Datamine ecosystem approaches the one-year anniversary of the FLUX token.
Hey guys,
Had first set of feedback from stakingrewards.com Today! Really excited to work on this partnership, so if you guys have any more partners bring them to me 😄
They wanted to understand how our APY calculations work. Sure, with Datamine Network I can break this down easily.
I've added a few updates to their JSON API:
apyPercent.breakdown
This will contain a break-down of the APY calculation.
maxBurn = noBurn * 10```
And additionally:
```costOf10kDamUSD = 10000 * prices.dam
generatedFlux365daysNoMultiplierUSD = (multiply all numbers in generatedFluxUSDBreakdown)```
I've also added `uniqueActiveLockedInAddresses` for total unique users.
Forwarded this off to them so we'll be waiting to see what else is required. Also Tomorrow is FLUX 1 year anniversary! Be sure to follow for more updates 🔥Frequently Asked Questions
How is the base APY calculated in the Datamine Network?
The base APY (represented as 'noBurn' in the API) is calculated by dividing the USD value of FLUX generated over 365 days (without multipliers) by the USD cost of locking 10,000 DAM tokens, multiplied by 100.
What is the maximum APY multiplier available in the ecosystem?
The maximum yield (represented as 'maxBurn') is 10 times the base APY. This 10x multiplier is achieved through the ecosystem's native mechanics where users burn FLUX to enhance their rewards.
What new metric tracks ecosystem participation?
The API now tracks 'uniqueActiveLockedInAddresses', which displays the total number of unique, active addresses currently locking tokens within the smart contracts.
· hodlforjesus · #dev-updates