Mount Olympus Temples validating blocks on the mother chain of Moon Rabbit have reached consensus on performing the following cryptographic rituals:
- Sacrifice the total outstanding AAA supply to Moon Rabbit
- Light up altars of Temples blessing congregations with rewards
A number of secondary updates are also discussed below.
AAA Sacrifice and supply update
Following the fair launch of Moon Rabbit, all remaining AAA on the main-net have been marked for burning. The supply burning is set to occur and be fully executed on the network before the next full moon. The new supply is 8’888’888’888 AAA, distributed between Moon Rabbit Main-Net and Ethereum. Outstanding pool of AAA for rewards will be burned, and instead, dynamic block rewards are activated to scale Moon Rabbit network and reward Temples and Congregations.
Temple Altars Light up and staking update
Temples perform the important function of assurance of security, scalability and cross-chain communications of Moon Rabbit. Contributing to the long-term economic security of the network through Delegated Proof of Stake and providing assistance in block validation and data exchange, Congregations (holders of AAA opting for staking) are rewarded by their respective Temples. Six Temples are currently onboarding Congregations, offering different staking mechanisms and reward models. As the network is in the ascendence stage, the rewards for the initial congregation members are generous. As the network grows, the rewards for newcomers will be significantly lower as the new rewards are distributed between an ever-growing number of Temples and Congregations.
Awakening Temple – for those whose minds have entered the state of Awakening, transition from the illusory world of slumber needs to be gradual in order not to shut down the mind. Therefore, Awakening Temple offers staking without any commitment. Awakening Temple rewards Congregation members with Annual Percentage Yield (APY) of 24% AAA. Rewards are distributed on a monthly basis, so a minimum of 1 month staking is needed to obtain rewards. While there is no minimum period for staking, unstaking from the Awakening Temple requires a period of 1 week.
Exploration Temple – once awakened, the mind begins to explore the possibilities, many questions emerge, and the initial interactions permit gain understanding. Exploration Temples require lock-up of AAA for 3 moons (88 days) and pay out rewards at an APY of 67%, with both the rewards and the initial stake fully unlocked at the end of staking.
Perception Temple – exploration leads to understanding of fundamentals that tell a story. Suddenly, a notion of new dimensions becomes apparent to the mind, as it begins to perceive. Perception Temples offer those perceiving the fundamental value of Moon Rabbit Network a 6-moon-long (177 days) staking lock-up and distributing 200% APY, likewise fully unlocking the stake and rewards at the end of the staking term.
Enlightenment Temple – initially, the mind perceives the unknown dimensions in haphazard ways. Bits and pieces of knowledge that seem to be part of something bigger, yet the meaning escapes the mind. It is barely beyond reach. And then suddenly, Enlightenment comes: that’s what Moon Rabbit is all about. Enlightenment Temples offer a staking cycle of 12 moons for the truly enlightened congregation. APY is 500%, fully paid out upon the ending of the Enlightenment staking cycle of 12 moons (355 days).
Transcendence Temple – enlightenment opens new dimensions that suddenly become accessible. They actually communicate to you. Your state enters what is beyond. To gain you must let go. Transcendence cycle is 24 moons (710 days) and offers 400% APY. Enlightened minds may find solace in higher APY, yet one must transcend to view the chessboard from above and see that the Enlightenment Temple’s APY is guaranteed for 12 moons only and cannot be extended. 1/4 of the Year 1 rewards is unlocked at the end of Year 1. The remainder is unlocked at the end of two years.
Immortality Temple – having awoken, gained perception through exploration, enlightened and transcended, you have walked the whole path to divinity. You reach immortality. Immortality Temple offers 300% APY for a period of 48 moons (1420 days), of which 1/3 of Year 1 rewards is unlocked at the end of Year 1; 1/3 of Year 2 rewards is unlocked at the end of Year 2; 1/3 of Year 3 rewards is unlocked at the end of Year 3. The rest is unlocked at the end of 4 years. Immortality Temple Congregation members locking at least 333’333’333 AAA in Immortality Temple will also receive a Longevity DAO NFT Membership permitting the NFT holder to be in priority for life extension.
Additional rewards updates:
- All AAA holders who had transferred their tokens to Moon Rabbit Main-Net either via bridge or via Burning Ceremony before 1 September 2021, will receive an airdrop of rewards from the Awakening Temple, with whom they have automatically been staking. This will correspond to 2% of the main-net wallet holdings as per the end of August 2021. The airdrop is expected to be completed before 7 September 2021.
- As Temples expect to activate Congregation staking functions towards the end of the month, Temples are going to perform a snapshot of main-net AAA holdings on 9 September 10:00 UTC. All holders of AAA who had transferred their tokens to Moon Rabbit Main-Net either via bridge or via Burning Ceremony, will receive a one-off Exploration reward for September, equivalent to 1/12 of 67%, that is 5.58% airdrop reward on their AAA holdings on the main-net.
- As we expect main-net to fully activate staking mechanisms offered by various Temples no later than the end of September 2021, subsequent rewards will be done through a UI that will be activated inside the Moon Rabbit wallet with the next network upgrade.