GMT Earning

GMT Earning Starting Date

Stage
Prerequisite
Event
Status
Stage 1
Infrastructure prerequisite
GMT Swap/Trade function opened
Done
Stage 2
Utility prerequisite
GMT use case incrementally implemented
Done
Stage 3
Burning prerequisite
GMT burning progress bar installed
Done
Stage 4
GMT Earning Event
GMT earning kick off once the progress bar hit 100%
In Progress

GMT Earning Mechanics (General)

Following are the GMT been distributed to each pool daily:
Classic Pool: 20%
Rainbow Pool: 30%
Rainbow Plus Pool: 50%
Rainbow Infinite Pool: Schadenfreude Pool (Mechanics TBD)
There is NO earning cap for GMT. Rather, the earning is changing dynamically every 5 mins based on the live GMT earners at the time. Similar to the concept of Hashrates*, the GMT earning is calculated and settled every 5 minutes based on the total Rainbow Power (Rainbow Pools) and Comfort (Classic Pool) been utilized in this 5 minutes. If not all GMT are earned within this 5 minutes block, then the remaining GMT will be rolled over in the following blocks. The GMT earning is logarithmically diminishing everyday, and will halve after 3 years.
When GMT earning is launched, the Classic Pool will be launched first (100%), followed by the Rainbow Pool (40% Classic Pool, 60% Rainbow Pool), and then followed by the Rainbow Plus Pool (20% Classic Pool, 30% Rainbow Pool and 50% Rainbow Plus Pool).
* Hashrate refers to how much computing power is being used by a network (for example, the Bitcoin network) to process transactions. Take Bitcoin for example. Every couple weeks, the Bitcoin protocol automatically adjusts how difficult it is to mine new bitcoins based on the current Hashrate. When the Hashrate is high, the mining difficulty is high and thus reward is low. When the hashrate falls, the difficulty falls with it and thus reward is high.

GMT Earning Mechanics (Classic Pool)

Classic Pool is designed for all the Non-Rainbow Sneakers, Classic Pool comprises 20% of daily released GMT. In Classic Pool, different Sneaker types plays a contributing factor to GMT earning just like how GST earning works.

Level requirement

GMT earning is only available to Sneakers that reaches to Level 30.

Halving Mechanics

Each day, a set number of GMT will be unlocked to earn. The daily release of GMT follows exponential decay pattern, on the first day of the 3rd year, the daily GMT unlocked is exactly halved compared to the 1st day of GMT been available to earn.

Pro rata Mechanic

The GMT earning per person are pro rata based. The more users earning GMT at a given time, the less GMT earning will be available per person. Vice Versa.

Comfort Mechanics

The more Comfort, the higher the earning.

GMT Earning Mechanics (Rainbow and Rainbow Plus Pool)

If the Classic Sneakers as the Generation Zero GMT earner. Then Rainbow Sneaker is the Generation One GMT earner. There is a chance to get Rainbow Sneaker from Sneaker Enhancement of Common Sneakers. Rainbow Plus Sneaker is the Generation Two GMT earner. There is a chance to get Rainbow Plus Sneaker from Sneaker Enhancement of Uncommon Sneakers.
Find out more about Rainbow Sneakers.

GMT Earning Mechanics (Rainbow Infinite Sneaker & Schadenfreude Pool)

Coming Soon.
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Outline
GMT Earning Starting Date
GMT Earning Mechanics (General)
GMT Earning Mechanics (Classic Pool)
GMT Earning Mechanics (Rainbow and Rainbow Plus Pool)
GMT Earning Mechanics (Rainbow Infinite Sneaker & Schadenfreude Pool)