= 100 \* \[(1+12/6) ^ (6/12) - 0.5]
= 123.2050
| |Second
Time
| 50 | 5 | 2022.06 \~ 2022.11 | 2022.11 |= 100 \* \[(1+12/6) ^ (6/12) - 0.5] + 50 \* \[(1+12/5) ^ (5/12) - 0.5]
= 123.2050 + 58.2568
= 181.4618
| Example 2: The first lock-up quantity is 100, the duration is 6 months, and it is not redeemed after the expiration; 2 months after the first lock-up expires, an additional lock is added, the quantity is 50, and the duration is 3 months, then The latest expiration time is the expiration time of the second lock-up. At this time, the weight is calculated as shown in the following table: | Number | Amount | Period (Month) | Time | Expiration | Weight | | ------------------------ | ------ | -------------- | ------------------ | ---------- | ------------------------------------------------------------------------------------------------------------------------- | | First Time | 100 | 6 | 2022.01 \~ 2022.07 | 2022.07 |= 100 \* \[(1+12/6) ^ (6/12) - 0.5]
= 123.2050
| |Second
Time
| 50 | 3 | 2022.09 \~ 2022.12 | 2022.12 |= 100 \* \[(1+12/6) ^ (6/12) - 0.5] + 50 \* \[(1+12/3) ^ (3/12) - 0.5]
= 123.2051 + 49.7674
= 172.9725
| # 1.6 Mining Phase 1 vs Phase 2 Kindly note the output ber block is designed to be much higher during Mining Phase 1 than Mining Phase 2. Learn More Details. ShardingDAO's Mining Phase 1 will officially start at 11:00 am (SGT) on March 23, 2021. It will last for 21 days. The total mining reward will be 1,500,000 SHD; the output of each block of the Ethereum chain will be 10.45 SHD. On Binance Smart Chain, the output of each block of the chain is 0.1240 SHD. 20% of the mining revenue will be deducted from the Smart Pool operation, and 20% of the mining revenue will be deducted if the pledge amount exceeds the Upper Limit of the respective cryptocurrency. After Mining Phase 1 is over, Mining Phase 2 will begin. Mining Phase 2 rewards a total of 21,000,000 SHD, which will be released according to the 4-year halving rule. The output of each block of the Ethereum chain is 1.04994 SHD, and each block of the Binance Smart Chain produces 0.01246 SHD. 20% of the mining revenue will be deducted from the Smart Pool operation. Of all mining revenues, 80% goes to mining users and 20% goes to Developer DAO. # 1.7 Buyout Tender Offer **Conditions:** users who hold no less than 15% Shards (the Offeror) can propose a buyout. Only one user can propose a buyout at one time. When the Offeror fails, other users can then propose another buyout. **Process:** 1. Apply for "Buy Tender Offer" and initiate a proposal: The Offeror proposes a 'Buyout Tender Offer', and then in the Marketplace of ShardingDAO stakes the Shards he or she has and set a Price X which must be higher than the Shard's market price defined by the DEX secondary markets. In addition, he or she will need to stake some cryptos that worth no less than the remaining Shards in circulation according to the Price x that he or she just set. (For example, if the Offeror holds 15% of the Shards, the token to be staked needs 85% *Total Amount of Shards* Price x). 2. Voting: A voting starts after the Offeror stakes Shards and cryptos as required. Users who hold Shards can vote on it. If the result of the voting suggests a pass, the Buyout is considered successful. Otherwise, the Buyout fails. * Votes Validation: Votes are Shards. 1 Shard = 1 Vote. Each user can only vote once, and it has to be done with all the Shards in possession. The Offeror cannot vote. Only the Shards owned at the time of the Buyout proposal will be count as valid as Votes. Any Shards obtained after the Buyout proposal will not be considered valid. If some Shards are collected after the Buyout proposal, they will not be count valid as votes. * Approval: negative Votes / (total number of Shards - number of Shards staked by the Offeror) < = 25%. * Voting Duration: the voting will last for 3 days once a Buyout proposal is raised. * If the voting result is a pass: * Offeror: the staked shards will be burned and the NFT's ownership, as a whole, will be transferred from the contract to the Offeror. * The Protocol: The Protocol will retrieve the 5% Shards and cryptos from the DEX secondary markets. Among them, the Shards will be burned and the Protocol will prepare a certain amount of cryptos whose value is equal to the burned Shards, priced at Price x. Then, these two parts of cryptos will be sent to the Developor DAO Fund and the Platform Fund, who receive 20% and 80% respectively. * If the voting result is a rejection: * Offeror: staked Shards and cryptos need to be redeemed manually by launching a separate transaction. And if they are not redeemed, another Buyout Tender Offer can be proposed. * Other users can now initiate other tender offers, even if the previous Offeror has not yet redeemed the staked. 3.Shards Collection: Once the Buyout succeeds, the ownership of NFT will be transferred to the Offeror. Other users who hold Shards will be forced to exchange Shards for cryptos at Price x. All Shards will be burned after a successful collection. # 1.8 Incomes & Dividends * Source of Incomes: After the Subscription Period, there will be incomes for the Protocol, consisting of the cryptos and shards allocated to Protocol and a 0.3% Transaction Fee. * Distribution of Incomes: The DAO Governance Committee collectively decides where exactly the incomes go and whether some incomes will be distributed as dividends. # 1.9 Bridge Users could transfer and trade SHD on both Ethereum and BSC.Daily transaction is restricted at 50,000 SHD and will be updated 00:00 (GMT) everyday. To ensure the cross-chain transfer, our team has issued additional 50,000 SHD on Ethereum and 150,000 on BSC. If there is a shortage in the future, the platform will issue an additional 100,000 SHD at one time, with allocations undetermined at present # 1.10 Token Bar Sharding Bar continues to increase, each SHD staked can be exchanged for more SHD after 7 days lock-up. The profit comes from ShardingDAO team's share of NFT shards. In the secondary market, users who hold 15%+ of the total supply of shards could initiate a tender offer on our platform, that is, to buy out all shards of a certain NFT asset. Once succeed, ShardingDAO will remove the previously added liquidity (fragments and subscription tokens). 80% of the removed value will be put into Platform Fund, which flows directly into Sharding Bar. By then, every SHD staked in Sharding Bar will have extra earns. # 2. Launch Plan ShardingDAO's launch is divided into 3 stages:  ## **Phase 1** **Referral Function Launch** Rules * During this period, users with established referral relationships can mine with a range of cryptos. You can access the pools from here:= 100 \* \[(1+12/6) ^ (6/12) - 0.5]
= 123.2050
| |Second
Time
| 50 | 5 | 2022.06 \~ 2022.11 | 2022.11 |= 100 \* \[(1+12/6) ^ (6/12) - 0.5] + 50 \* \[(1+12/5) ^ (5/12) - 0.5]
= 123.2050 + 58.2568
= 181.4618
| Example 2: The first lock-up quantity is 100, the duration is 6 months, and it is not redeemed after the expiration; 2 months after the first lock-up expires, an additional lock is added, the quantity is 50, and the duration is 3 months, then The latest expiration time is the expiration time of the second lock-up. At this time, the weight is calculated as shown in the following table: | Number | Amount | Period | Time | Expiration | Weight | | ------------------------ | ------ | ------ | ------------------ | ---------- | ------------------------------------------------------------------------------------------------------------------------- | | First Time | 100 | 6 | 2022.01 \~ 2022.07 | 2022.07 |= 100 \* \[(1+12/6) ^ (6/12) - 0.5]
= 123.2051
| |Second
Time
| 50 | 3 | 2022.09 \~ 2022.12 | 2022.12 |= 100 \* \[(1+12/6) ^ (6/12) - 0.5] + 50 \* \[(1+12/3) ^ (3/12) - 0.5]
= 123.2051 + 49.7674
= 172.9725
| # 7. DAO Governace Committee ### Governance Scope The Governance Committee can make changes to the following items. | Contract Parameters | Current Value | Instructions | | ----------------------- | ---------------------- | ----------------------------------------------------------------------------------------------------------------------------------------- | | totalSupply | 10,000 | Total supply of shard | | deadlineForStake | 5 Days | The time when you can subscribe. You can subscribe in the first 5 days of the subscription period. | | deadlineForRedeem | 7 Days | 7 days (subscription) | | shardsCreatorProportion | totalSupply \* 5% | 5% of the shards are distributed to the creator upon successful subscription. | | platformProportion | totalSupply \* 5% | 5% of the shards are distributed to the protocol upon successful subscription. | | WhiteList | ETH/WETH、USDT、USDC、ELF | The staked token category selected when creating the shard. | | buyoutProportion | totalSupply \* 15% | The minimum percentage of shard to be held by offeror, which is 15% of the total supply. | | buyoutTimes | x1 | The minimum purchase price to be set when launching a offeror, double the market price. | | voteLenth | 3 Days | The voting time after the tender offer, 3 days. | | passNeeded | 75% | The percentage of approval required to pass the tender offeror："No" Votes／(Shard Total Supply - amount of Shard staked by offeror) <= 25% | | maxRankNumber | 10 | Number of farming pools that can share the dividends: 10 | | userDividendWeight | 80% | 80% of $SHD is reseived for liquidity mining | | devDividendWeight | 20% | 20% of $SHD is reseived for DeveloperDAO Fund | # Introduction to DAO Governance Committee Voting platform: scattershot [scattershot.page/#/shardingdao.eth](https://scattershot.page/#/shardingdao.eth) Voting rules: * Voting token: SHD-ETH LP (Ethereum), the number of tokens represents the number of votes; * After the proposal is passed, the development team will send a Timelock transaction, which will take effect 24 hours later. Governance Range: Parameter modification, product optimization and modification; Governance Committee members and responsibilities: The members of the governance committee have the right to propose and Timelock multi-signature rights; Note: The current priority is to develop the community, and the election of governance committee members will be conducted from the community in the future. Governance process: * The governance committee creates a proposal (create page