Stakers
The Most Valuable Hearts on the Internet
Imagine a world where your money works for you, where social interactions fuel economic growth, and where you can earn rewards from the biggest cryptocurrencies without the technical hassle. Welcome to the world of Social Network Hearts (HEART) – a revolutionary approach to digital finance that’s changing the game for everyone.
HEART is the native gas token of the Social Network, a novel Layer 2 Bitcoin & Ethereum scaling solution. This section outlines the specifications, mechanisms, and functionalities of Social Network Hearts.
HEART
HEART tokens are minted exclusively when BTC or ETH is staked to the network. The minting process ensures that each HEART token represents a proportional claim on the total BTC/ETH reserves staked to the Social Network.
The amount of HEART minted is calculated using the following principle:
HEART_minted = (Staked_Assets_Value / Total_Reserve_Value) * Total_HEART_Supply
Where:
Staked_Asset_Value is the current market value of BTC or ETH being staked
Total_Reserve_Value is the total value of all BTC and ETH in the network reserves
Total_HEART_Supply is the current circulating supply of HEART tokens
How to Get Heart
First Step
Obtain Bitcoin (BTC) or Ethereum (ETH) from the open market.
Second Step
Go to social.network, enter how much you would like to stake, and a valid Social Network public key address.
Third Step
Click the Stake Bitcoin button to generate your unique Tapscript deposit address, and send the amount of HEART you would like to stake to this address.
Fourth Step
Once you click submit, your staking request will be submitted to the P2P Bitcoin Validator network, who after sufficient Bitcoin block confirmations will generate a threshold signature to send your HEART on the Bitcoin Layer Two Social Network.
Fifth Step
HEART will appear on your Social Network balance at a 1:369 ratio, and can be used as the native currency and gas for Social Network, deploying smart contracts, and much more.
Sixth Step
Every 24 hours, your HEART holdings will also accumulate additional rewards generated by the Social Network, by rebasing according to the amount of staking rewards generated minus any protocol fees. This ensures rewards are distributed to every stakeholder on Social Network without the need for a single operator, and all users are incentivized to grow the social network.
Seventh Step
Real time analytics will be provided on the rewards dashboard and will be the sum of the Bitcoin Validators Threshold wallet wallet minus any fees or validator penalties.
Unstake from the Social Network to Bitcoin
HEART tokens can be redeemed for BTC, ETH, or a combination of both, directly on their respective Layer 1 networks. The redemption process is facilitated by the decentralized network of Earth Farming nodes.
Single Sided Liquidity Deposits
The system allows for single-sided liquidity deposits in either BTC or ETH. These deposits are managed through a native Constant Function Automated Market Maker (CF-AMM).
The CF-AMM automatically swaps and rebalances single-sided deposits to maintain the desired ratio of BTC to ETH in the reserve pool. This ensures liquidity stability and efficient market operations.
Heart Rewards
Heart generates native staking yield two ways:
BTC Rewards
A portion of the proceeds from Bitcoin username sales on the Social Network is allocated to the HEART token reserve, increasing the value backing each token.
ETH Rewards
A portion of the ETH in the reserve is staked to Ethereum validator nodes. The yield generated from this staking is distributed directly to HEART token holders, providing an additional source of returns.
Why Should You Care?
- Earn Passively: Your money works for you, earning rewards from the biggest names in crypto.
- Join the Financial Revolution: Be part of a system that’s making finance more accessible and fair for everyone.
- Eco-Friendly Finance: Participate in the crypto economy without the environmental guilt.
- Flexibility: Easy to get in, easy to get out, and useful within the Social Network ecosystem.
- Future-Proof: As Social Network grows, so does the potential of your HEART.
Your Journey Starts Here
By embracing Social Network Hearts, you’re not just adopting a new currency – you’re stepping into the future of a healthier economy. A future where your social interactions have real economic value, where your money grows effortlessly, and where you’re part of a global community shaping the next generation of the internet. Ready to be part of the revolution? Join Social Network today and let your HEART beat with the pulse of the new digital economy!