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According to the white paper, 65% of the total circulating supply of $OORT, which equals 1.3 billion tokens, is reserved for miners. Out of this, 400 million tokens are allocated for OORT Edge mining. The remaining 900 million tokens will remain locked until a new mining mechanism and model are defined and approved by the community.
The total of 400 million tokens reserved for OORT Edge mining reward will be released in stages, with each stage releasing half the amount of the previous stage. The first stage will release 200 million tokens, the second stage 100 million, the third stage 50 million, and so on.
In the first stage, miners will produce 2.875 $OORT per day. In the following stages, the reward will be halved each time. For example, in the second stage, each edge device (Deimos) will produce 1.4375 $OORT per day.
Once all token rewards for a mining stage are distributed, the system will automatically move to the next stage.
Assuming there are 100,000 mining devices in the first stage, the total time to release all tokens in the first stage will be calculated as follows:
200 million / (2.875 * 100,000) = 695.65 days.
This means the first mining stage will approximately last for two years, after which the mining reward will be halved for the second stage. The halving cycle will be roughly two years.
If there are 50,000 mining devices in the first stage, the halving cycle would be approximately four years.
A $60 license fee is required for a mining device to join the OORT Edge network.
Step 1: Send 60 USDT to following addresses
Step 2: Submit the payment proof, such as screenshot and transaction hash, in the form below. The license will be assigned once the payment is verified.
To meet the project's growing business needs, OORT will upgrade mining devices approximately every two years. The team will announce the upgrade at least six months in advance. Six months after the announcement, the team will stop assigning licenses to the new miners with older version devices. The old version devices with existing licenses can continue mining with the reward unchanged. After the license expires, miners can choose to renew the license for the old device, but the output will be only a quarter of that of the new devices.
The project team reserves the right to adjust the license fee for new mining devices. Any proposed changes to the license fee will be submitted to the mining community for discussion.
Phase 1 starts at 12 PM ET on August 24 and ends at 12 PM ET on October 24.
To quickly grow the OORT Edge network, our goal is to deploy 20,000 Deimos mining devices in 2 months. The OORT Foundation will offer incentives to support this effort:
Mining rewards are cumulative, so the earlier a device is deployed, the more rewards it will earn. For example, when the total number of devices reaches 20,000, each of the first 10,000 devices will receive 600 $OORT for the first milestone and 1,200 $OORT for the second, totaling 1,800 $OORT per device.
When the program ends—either after 2 months or when 20,000 devices are deployed—10% of the reward will be released immediately. The remaining 90% will be locked for 6 months and then gradually released over the following year, month by month. If any milestone isn't reached during the 2-month promotion period, the rewards for that milestone won't be distributed.
If the goal of deploying 20,000 mining devices within 2 months is met, we will rank eco-partners by the number of devices they promoted. The top three partners will receive cash rewards of 40,000 USD, 20,000 USD , and 10,000 USD, respectively.
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Catch up on OORT's November Town Hall, featuring updates like the upcoming DataHub commercial launch, the new governance platform, and $1M in foundation grants to support open-source projects and community growth.
