$LMS Metrics and The Yield Crafting
You are sitting on a small hill and watching the magnificent view of Lumos. You see the boy running towards you. He approaches and stands in front of you for a few seconds to control his breath.
+Grand Master is looking for you, sir. He said he needs to talk to you
“Oh, let’s go then.” *You said and you were excited to learn more*
You both walk on the path to Grand Master’s house together. You feel more and more excited as you get close to it.
After about 15 minutes of walk, you finally reach the house.
“Hello master, it’s me.” *You said, as you knock the door*
+Come in, son.
“The boy told me you’re looking for me. Here I am.”
+Ah yes. I made research after you left. I found very interesting and important information which I think you need to learn. Before that, would you like some tea?
“Yes, please.” *You nodded*
Grand Master stands up from his chair and goes to the tea table next to his desk. He pours tea into a small cup and places the teapot back into its place. He serves you your tea and sits back on his chair.
He pauses for a while to gather all of his thoughts. He rubs his beard while he thinks.
+As I said, I looked into some long-forgotten ancient books. Even I had lost track of them until I saw you. Remember, I mentioned to you the ingredients of spells.
“I remember sir. I’m quite excited about it, to be honest” *You smiled*
+Great. It’s a little bit complicated, so you better take some notes and try to understand it.
“Okay, just a sec.” *You take your notebook and pencil from your pocket.*
The Grand Master goes through the ancient books on his desk and grabs one.
+There it is. Well, LMS crafting only happens every 500 years. LMS is one of the very rare ingredients and it is used for many purposes. Therefore, you cannot find it easily. You’re quite lucky to be here right now.
“Great!” *You shouted in excitement.*
+Please focus on everything I’ll be saying from now on.
“Okay”
+ The LMS is scarce as I said. There’ll be only 2.000.000 LMS in total, no more! Let me show you a table of the distribution.
+Let’s go over them.
First the Wizard Crafting. Wizards help you with your spelling classes. Every time you put effort into a spell, you craft some LMS. It depends on your ingredient size and your effort. The wizards helping you on these spells also craft some LMS, though not as much as you do. That makes almost %1 of the total supply.
He takes a sip of his tea and continues.
+Second, the Wizard Treasury. As I mentioned LMS is very scarce and at times it can be crucial to have some to cast a spell. %5 of the total LMS supply is allocated to the elder wizards who will use it wisely to help Lumos stay in balance. They will use it to craft magical NFTs and to reach more magicians by buying a stand on national bazaars for LMS to be exchanged + many more. However, wizards will not be able to use these resources right away. It will be kept in a magical safe and that safe will allow wizards to withdraw only in small portions after the students receive their diplomas.
Bounce sales will be the first release of LMS and %15 of the total supply will be sold. LMS will be exchanged with ETH in this sale. The ones who get to buy LMS from Bounce will be the luckiest as they will be buying it cheaper than the initial listing on Uniswap and of course, they will be able to start learning sooner than others. The date and time of this sale will be announced all over Lumos in a few days.
Elder wizards will allocate %33 of the ETH gathered from the sale for opening a stand in local Uniswap bazaar together with LMS allocated for Uniswap. This will be an opportunity for those who missed the Bounce sale, however, you should remember that the price will be %25 more expensive.
The biggest share will be allocated to the students as a reward for the hard work they put in while learning how to craft in our pools. They will be able to craft up to 1.508.698 LMS, in the yield crafting period. I think I need to explain the magical math used in here.
The base crafting: Almost every 12 seconds magicians craft an Ethereum block. LMS crafting will be done on these Ethereum blocks as well. Elder wizards set a mathematical formula to decide the base crafting per each block. This will be used to calculate how many LMS each student deserves for any given time.
So as you can see, with each day the amount of LMS crafted in each block will increase. This enables latecomers to enjoy the yield crafting as well. You might ask “why should I try to learn earlier” at this point. However, I will explain later why the earlier the better.
The community multiplier: Every day our community comes together and tries to cast a precious spell. The success rate of this spell depends solely on the price of each LMS and it determines the multiplier of the reward. This will be set once every day. The community multipliers can reach up to a maximum of 4x as shown in this book.
He turns the book and shows you the table.
“What does that mean” you want to ask, right? For example, let’s say we are on the 5th day and the price is $5.7 for each LMS. The block reward will be
I told you that I will explain why participating earlier in yield crafting is better. Here’s why… There’s also another bonus for students who leave their crafted tokens in the pool. The formula is given in this book.
He turns another book and points the formula.
So basically it says that every day you leave your crafted LMS in the pool, you are rewarded with a 0,1 multiplier. In 10 days you will reach the maximum multiplier. So let me give you an example of that as well.
He takes his quill and starts writing
If you craft for 5 days and don’t touch any of your LMS you will get a 0,5x bonus multiplier. Let’s say you crafted 2.500 LMS in those 5 days. Then you will get 3.750 LMS with your crafting bonus.
So the longer you the more you will earn. Therefore, participating earlier is also crucial.
That’s what I could find so far. By the way, I forgot to tell you about the most important thing. You might be the one who triggered this chain of events happening in Lumos. I’m still researching it. I’ll let you know once I find more information.
“Very much appreciated sir. I’m looking forward to hearing more from you!” *You close your notebook and put it in your pocket before leaving his room. You really start to like this world you are getting into.*
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