About Proof of Trade and Mining in XRPL 🧲

➡️ Magnetic introduces a new concept for the distribution of tokens for our community. Algorithm Proof of Trade(POT).
➡️ The meaning of this algorithm is to trade certain tokens on XRPL DEX for a certain volume.

🟢 MINING POOLS

xmagnetic.org will have a page with mining pools, where you can see detailed information about each pool. The conditions for receiving a reward from the pool (rewards for mining) are as follows:
1️⃣Trade a certain pair (not necessarily the one you will receive a token)
2️⃣Trade for a certain volume
3️⃣Make transactions of a certain type (buy / sell or both at once)

🟢MINERS

💎 For this, all miners who have fulfilled the conditions will receive a reward after the generation of the block.
➡️ Blocks with miners who have fulfilled all the conditions will be formed every 60 minutes. That is, you can fulfill the conditions and receive a reward every 60 minutes.

🟢 REWARD TIERS

🔩 For more experienced miners, the rewards will be increased. They will be increased for holding NFT from Magnetic collection or holding $MAG or other tokens (depending on the pool conditions).

🟢 MAG POOLS

⚠️ Pools with $MAG will have Burn Index and Difficulty Index. They will control the emission of tokens that are released into circulation. Burn Index determines what % of your reward will be burned. The difficulty index shows how many $MAG you need to hold to get a higher reward.

PS: YOU DO NOT NEED TO OWN NFT OR HOLD MAG TO GET THE MINIMUM REWARDS. YOU CAN GET MINIMUM REWARDS WITHOUT HOLD.

Magnetic GIVE 🧲

➡️Subscribe to:
@XMagnetic
@MagneticTicketBot
➡️ Provide proof in the chat:
@XMagnetic_chat

✅ Get 0.05 XRP + 0.05 XRP tips 👨‍👧‍👧

End Time: 12.12.2022 12:12 UTC

💎 Rewards in Proof Of Trade and Mining.

🟢 Now we will talk in more detail about the rewards for mining.
When you have completed the main conditions of the pool, you will receive a reward after the formation of the block (a block is formed every 60 minutes).

There are three types of awards:
➡️ Guaranteed reward
You will receive a guaranteed reward if the pool conditions are met. You don't need tokens or NFTs to get it. It's absolutely free.

➡️ Reward for hold NFT
You get an additional reward if you have NFTs from the Magnetic collection. This reward will depend on the rarity of the NFT.

➡️ Reward for hold tokens
You will receive an additional reward for holding tokens. The more tokens you have, the greater the reward you will receive (what specific tokens you need to keep on the balance sheet is indicated in the pool conditions)

Each block you can get all available rewards. These are Guaranteed Reward, NFT Hold Reward and Token Hold Reward.
🤿🤿🤿🤿🤿
If you are not yet familiar with mining and the POT algorithm, read this article:
https://telegra.ph/About-Proof-of-Trade-and-Mining-in-XRPL-12-08

Magnetic NFTs 🧲

We have already said that Magnetic will have its own collection of NFTs. Now you will learn a little more about it.
➡️ A total of no more than 5,000 NFTs will be issued.

🟢 Rarity

NFTs will be of various rarities. From the most frequent (Epic) to the rarest (Ultimate). There will be seven rarities in total:
➡️Epic
➡️Legendary
➡️Godly
➡️Mythical
➡️Transcendent
➡️Supreme
➡️ULTIMATE

🟢 Usage of NFT

🔥 NFTs will be used by all Magnetic products.

1️⃣ Mining: you will get much more reward if you have NFT on your balance.

2️⃣ Ticket Bot: if you have NFTs on your balance you will get more tickets from both the "get tickets" button and your referrals.

3️⃣ Future products such as games, various contests, bots will also use NFT and bring additional profit. We'll talk more about them later, when the release time comes.

➖➖➖➖➖➖➖
➡️ We understand that there is not enough information here to fully convey the meaning of Magnetic NFT. Later, when we launch mining, there will be more details 🧲

💎💎💎 And now look at our beauties from the Magnetic Girls collection 🔥

🐂 The open Beta test of the desktop wallet for XRPL has begun. "DADDY'S WALLET" will become part of the Rocket Launch ecosystem, and some premium features will become available to our holders.

If you want to participate in the Beta test, then you should follow the link https://t.me/+oGmyvIqAPfZmYWMy

The link will be valid until the are set of 100 users.

🆘 Spam in the chat is prohibited, all messages are strictly about the test. Violators are banned.

PS: and very soon you will be able to test something else 😉🧲

🔥 Mining pools 🔥

The picture shows an example of what mining pools will look like.

🧲 MAG pools

🟢 Characteristics:
➡️ Min Reward: the minimum amount that must be mined for the correct increase in emission (but these are only recommendations, there is no goal to strive for this amount.)
➡️ Miners: the total number of miners who participated in the extraction of the last block
➡️ Burn In Last Block: amount of MAG tokens that were burned when the last block was mined
➡️ Reward in Last Block: amount of MAG tokens that the miners shared among themselves
➡️ Pool: the number of remaining tokens in the pool.
➡️ Burn Index: Percentage of the reward that will be burned when a block is mined
➡️ Complexity Index: the required number of tokens for a higher reward.

🟢 Pool conditions:
➡️ Pair: the pair to trade on
➡️ Min Volume: the minimum volume for which you need to trade
➡️ Trade Type: what type of trade you need to gain the required volume

🟢 Rewards:
💎 Guaranteed:
A reward that you will receive in any case if you fulfill the conditions of the pool
💎💎 Hold Tokens:
A reward for holding tokens. The reward will differ depending on your balance. This can be seen in the pop-up window on the right.
💎💎💎 Hold NFTs:
A reward for holding NFT. The reward will differ depending on the rarity, this can be seen in the pop-up window on the right

Magnetic GIVE #2 🧲

➡️Subscribe to:
https://t.me/XMagnetic
https://twitter.com/MagneticXRPL
➡️Provide proof in the chat:
@XMagnetic_chat 

✅ Get 0.05 XRP tips 👨‍👧‍👧

End Time: 14.12.2022 14:00 UTC

🟢 Our friends at @xrocketlaunch have added a new feature to their TipBot!

They called it "Chat Activator". The message is sent to the chat 10 times a day at random times. If you press the button faster than anyone, you will receive XRP or tokens.

➡️ Today they provided a "Chat Activator" for our @XMagnetic_chat chat, for which we are very grateful to them!
💎 10 times a day at random times, you can log in and get 0.05 XRP just by pressing a button!

PS: In @rocketeerschat 10 times a day at random times you can also get 500 RLT 🚀(plus a chance to be White List to receive an NFT drop) just by clicking on the button!

Hello! it's Magnetic 🧲

✔️ Today we have prepared for you a detailed article about Proof Of Trade, mining, pools, NFTs.
➡️ https://telegra.ph/Mining-Whats-this-How-to-mine-12-14

PS: get ready, coming soon...

🟢 New feature in TicketBot!

🔥 Ticket selling! Now you can sell tickets and get XRP for it (you get tickets absolutely free and then sell them)!
You can find information about this by clicking on the "Sell Tickets" button.

➡️ https://t.me/MagneticTicketBot

Magnetic presents White Paper v.1 🧲
It describes the main plans for the development of Magnetic, as well as details about mining and the POT algorithm.

New BIG Lottery 💎

🔥 1 XRP x 50 Winners
⏰ End Time: 18.12.2022 15:23:36 UTC

Conditions:
➡️ Subscribe to the channel: LINK
➡️ Click the "Get Tickets" button and confirm the action in XUMM

The results of all Lotteries are published here: https://t.me/TicketBotResults
Ticket Bot: https://t.me/MagneticTicketBot

🧲 Get ready!

🔥 MAGNETIC DEX and MINING LAUNCHED! 🔥

🧲 So the long-awaited launch of Mining and DEX has come true!

🟢 Magnetic DEX launched!
🟢 Mining launched!

➡️ On the mining pools page you will find information about all available pools:
https://xmagnetic.org/pools

➡️ An article where the mining process is described in detail and what needs to be done to start mining right now:
https://telegra.ph/Mining-Whats-this-How-to-mine-12-14

Don't forget that you can mine and get rewarded for it every hour!

💎 Miners contest
🟢 Prize pool: 300 XRP

Since we are not allowed to give away $MAG, we are organizing an XRP contest!

Conditions:
On certain 3 days, 100 XRP will be distributed among all $MAG holders in equal proportions from their hold.
➡️ 12/20/2022 - 100 XRP for all holders
➡️ 12/23/2022 - 100 XRP for all holders
➡️ 12/25/2022 - 100 XRP for all holders

The more $MAG you have, the more XRP you will receive.
➡️ Example: At the moment, for each $MAG in your balance, you will receive 4 XRP!

❗️To get more $MAG, you can participate in mining and get $MAG every hour!

🚟🚟🚟🚟🚟🚟🚟🚟
➡️Trade $MAG: https://xmagnetic.org
➡️Mining pools page: https://xmagnetic.org/pools
➡️How to start mining right now: https://telegra.ph