The new polygon blockchain USDC mining protocol is a novel way of earning interest on the stablecoin USDC by leveraging the power of decentralized storage and computation and using the computing resources of the devices that connect to the protocol.
The protocol allows users to deposit EE into a smart contract that automatically converts it into USDC, a token that represents the user’s share of the USDC pool. The USDC tokens can then be used to access various services on the Ipfs and Epic Eden platforms, such as storing, sharing, and processing data.
The protocol uses Ipfs, or InterPlanetary File System, as the underlying storage layer. Ipfs is a peer-to-peer network that distributes files across multiple nodes, ensuring high availability, security, and censorship-resistance. The protocol also uses Epic Eden API, a set of tools and interfaces that enable developers to build applications on top of Ipfs and Eth Protocol, a blockchain that supports smart contracts and IPFS integration. The protocol also leverages Epic Eden ecosystems, which are decentralized communities that provide various incentives and rewards for users who contribute to the network.
The protocol works by sharing the power of the processors that connect to the protocol. This means that the devices that participate in the protocol can offer their computing power to perform tasks for other users or applications on the Ipfs and Epic Eden platforms. For example, if a user wants to store a file on Ipfs, the protocol will send some USDC to the Ipfs network to pay for the storage fees. The protocol will also assign some devices to store and serve the file on behalf of the user. The devices that store and serve the file will receive some ETHO tokens from the Etho Protocol network as a reward for their service. The protocol will then use the ETHO tokens to buy more USDC from the market and add it to the pool, increasing the value of each EE token. The user can then redeem their EE tokens for USDC at any time, or use them to access more services on the Ipfs and Epic Eden platforms.
The protocol can allocate a portion of the USDC pool to each service that the user accesses. For example, if the user wants to store a file on Ipfs, the protocol will send some USDC to the Ipfs network to pay for the storage fees. The protocol will also receive some ETH tokens from the Eth Protocol network as a reward for using its blockchain. The protocol will then use the ETH tokens to buy more USDC from the market and add it to the pool, increasing the value of each EE token. The user can use them to access more services on the Ipfs and Epic Eden platforms.
The new polygon blockchain USDC mining protocol is an innovative way of earning passive income on USDC while supporting the development of decentralized storage and computation. The protocol offers users a variety of benefits, such as:
Low fees: The protocol uses Polygon, a layer-2 scaling solution for Ethereum, to reduce gas costs and transaction times.
High security: The protocol uses smart contracts to ensure that the user’s funds are always safe and transparent.
High scalability: The protocol can handle a large number of users and transactions without compromising performance or security.
High interoperability: The protocol can interact with multiple platforms and networks, such as Ethereum, Polygon, Ipfs, Eth Protocol, and Epic Eden.
High utility: The protocol can provide users with access to many useful services and applications on the Epic Eden platforms.