Transition to Deeper Network Basic Mining 2.0: A New Chapter for Genesis Mining Users

Transition to Deeper Network Basic Mining 2.0: A New Chapter for Genesis Mining Users

Introduction: The Journey Towards a Trusted Internet

Deeper Network's journey began with the vision of creating a secure network resource-sharing platform, a truly decentralized consensus network, and a trusted internet development platform. The release of Deeper Connect in early 2019 marked a significant milestone, combining cybersecurity technology, network sharing economy, and blockchain technology in an innovative blend.

Designed with plug-and-play and zero configuration, Deeper Connect provides an all-in-one network security solution. Its core, AtomOS, is the world's first lock-free network operating system, ensuring high reliability, performance, and scalability. From network security to blockchain technology, Deeper Network has been at the forefront of creating a trusted Internet where personal data sovereignty is guaranteed.

Genesis Plan Expiration: A Strategic Transition

As Deeper Chain celebrates its second anniversary online, we announce the expiration of the Genesis plan on the 28th of August 2023. All Genesis users will be automatically switched to Basic Mining 2.0, a plan that offers an APY 10% higher than that of all other ordinary users.

Key Details of the Transition:

  1. Automatic Transition: Genesis users will switch automatically without any action required.
  2. Staked DPR Remains Unchanged: The original pledged DPR remains staked.
  3. Voluntary Unstake Option: Genesis users may voluntarily unstake, thereby automatically withdrawing their DPR back to their Deeper wallet. DPR is linearly released over 90-days. Staked credit score will be gone however your organic (earned) credit score will remain.
  4. APY for Genesis Basic Mining 2.0: Basic Mining 2.0 income for Genesis users is 10% higher than basic mining 2.0 APY. If a user unstakes, their Genesis bonus is lost forever. 
  5. APY Reduction: Going forward, the APY of Genesis users will be reduced by 1% every six months, until it reaches 5% over Basic Mining 2.0 where it will remain indefinitely.

    Impact on Genesis Users and the DPR Value

    The transition to Basic Mining 2.0 is more than a mere change in the mining rules. It represents a strategic move that reduces DPR inflation. This move contributes positively to DPR's value in the long run. Genesis users will continue to enjoy benefits while supporting the overall stability and growth of the Deeper Network ecosystem.

    Join the Revolution: Calls to Action

    Deeper Network is more than a technology; It is your network. It is a revolution in how we perceive and interact with the internet. Join us in building a more secure and decentralized future:

    Conclusion: A Future of Innovation and Security

    The transition of Genesis to Basic Mining 2.0 marks a new chapter in Deeper Network's journey. It reflects our commitment to innovation, trust, and the continuous pursuit of a decentralized and secure internet experience. We thank our Genesis users for their support and invite everyone to be part of this exciting new phase.