Learn what’s new with the TEA Project’s Epoch 10.1 mining contest
First Steps — Same as Epoch 10
Users interested in participating in the Epoch 10.1 mining contest should purchase some COFFEE using USDT.
Additionally, those who’d like to mine can purchase at least 1 CML.
Please note that the profitability of CML mining is extremely limited during Epoch 10.1 as there are no opportunities to host TApps.
COFFEE cashout is done manually through the following form.
Administrative Changes Affecting Seat License Profitability
We’re still tweaking factors affecting the profitability of owning a state maintainer seat license. To this end we’ve adjusted factors affecting both the cost and revenue generation from owning a state maintainer seat.
- State maintainer seat licenses will be reduced to 10 seat licenses in Epoch 10.1, a reduction of 50% from the previous epoch. We’d like to see a competitive market develop for the state maintainer seats such that low-valuations get scooped up by market participants. Lowering the number of available seats will allow these market mechanisms to manifest quicker.
- The state maintainer license holders will pay a tax of 7% on their self-assessed value, up from 1% in Epoch 10. This will increase the cost of owning a state maintainer seat license.
- There will be a regular payment made every 100 blocks to the TAppStore to simulate user activity. These payments will fund the memory tax that the TAppStore, which is itself a TApp, will pay to the state maintainers. This source of revenue also acts to boost the price of the Global token when the 7% Harberger Tax is in excess of the remote attestation rewards owed to CML miners [note that the Global token was deprecated starting in Epoch 11].
The remote attestation rewards for CML miners is still 1T / 300 blocks shared among all miners. Epoch 10.1 didn’t enable CML hosting for TApps (same as Epoch 10) which severely limits the profitability of buying a CML.
The Leaderboard Will Calculate Rolled-over Assets
There’s two important new features we’ll be releasing with regards to the leaderboard:
- We’ll now automatically calculate the difference between a contestants’ initial assets rolled-over from the previous epoch and the new amount they were able to generate during the current contest period. This net increase in asset value will be used to rank the contestants on the leaderboard.
- We’ll be able to automatically track funds as we move between epochs. We expect there to be less confusion compared to previous epochs and look forward to a smoother transition of contestant funds when we move between contest periods.
New Reward Added for 10.1
For Epoch 10.1, there will be an additional 100 COFFEE added to the reward pool. The entire amount will go to the top finisher at the end of Epoch 10.1. Contestants will always be able to exchange their COFFEE for USDT (BNB Chain) regardless of where they place on the leaderboard. COFFEE cashout is done manually through the following form.
Make Sure to Register for the Competition!
Registering for the competition is still done via the Leaderboard tab:
You’ll be asked to provide your ETH address (not your Polkadot wallet address) as we begin preparing for our move to Ethereum in Epoch 11:
Registering for the competition lets us know that you’re actually competing and also lets us know to rollover your assets into the new epoch. Registering is the best way to qualify for each epoch’s rewards and to make sure your assets carry over into the next competition period.
A more complete user’s guide based on Epoch 10 (though some of the info has been superseded by information in this guide) is available here:
Epoch 10 User’s Guide
The Epoch 10 testnet phase introduces state maintainer seats while moving parts of the former TEA browser wallet over…
A video guide is also available covering the new features of Epoch 10.1:
And as always, feel free to ask questions in our Telegram group.