The long-awaited king-level Ethereum sub-project Swarm will have its mainnet soft launch on June 13. For many blockchain projects, at this juncture, most of the specific information about the project has already been made public. After all, the information in hand is an important condition for investors to decide whether to invest or not. However, Swarm is different , this project has always maintained a certain degree of mystery. People seem to have seen through it, but when you take a closer look, you will find that it is still wrapped in layers of veils, waiting to be finally revealed.

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One Fog: Check Cashing

In addition to the official private placement, there are currently only two ways for the public to obtain BZZ. One is the public sale of BZZ that will soon start on CoinList, and the other is the testnet million BZZ airdrop event launched by Swarm "Rise of Bees ( The Rise of Bee).

Since the BZZ sale on CoinList has various restrictions on some areas, it is not easy for people in these areas to participate in it. Therefore, for many people, the testnet mining airdrop has become the only way to obtain BZZ at present. choose. However, this time the testnet mining does not directly obtain BZZ, but will first obtain a check. Only the checks that interact with 35 so-called "Queen Bee Nodes (qBZZ)" can be finally exchanged for BZZ. Faced with this unprecedented airdrop mechanism, people will naturally have many questions.

Who are these 35 queen bee nodes?

From the official introduction to the airdrop mechanism, we can see that 35 queen bee nodes are randomly determined at the last moment of the airdrop, and no one (including the team) can know which nodes will become queen bee nodes.

However, specifically, how these queen nodes are randomly determined, and at what point in time people will know which nodes are queen nodes, these questions still cannot be clearly answered.

How many valid checks can be exchanged for BZZ?

Due to the unprecedented popularity of Swarm, the number of Bee nodes on the testnet has grown rapidly, far exceeding the team's expectations. At present, the number of Bee nodes in the entire network has reached 300,000, and only 35 of them will be selected as queen bee nodes. It is conceivable that the proportion of checks interacting with these queen bee nodes to the total number of checks will not be high. Too high, no one can predict how many valid checks that can be exchanged for BZZ will eventually be generated.

How much BZZ can be exchanged for a valid check?

According to the official announcement, the value of a qBZZ check depends on its final quantity.

The total amount of BZZ airdropped in this event remains unchanged at 1 million. Therefore, assuming that the final team collects 500,000 qBZZ checks, the value of a qBZZ check is 1 million BZZ/500,000 = 2BZZ. If a user runs 3 nodes in total, and each node receives 50 qBZZ checks, then the final amount of BZZ obtained by the user is 3*50*2=300BZZ.

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Double Fog: Mining Mechanism

As for the mining mechanism of Swarm, everyone is still in the dark. I'm afraid no one other than the team that keeps it under wraps has been able to say exactly how it works. At present, the mainstream opinion on the Internet is that, as a distributed storage project, the mining mechanism of Swarm may be similar to Filecoin, that is, BZZ needs to be pledged before mining. As for the specific pledge method and the amount of pledge, it is even more unknown .

If Swarm's mining mechanism finally determines that it needs to be pledged, then all miners who have deployed nodes earlier and started mining immediately after waiting for the mainnet to go online will face another problem-"how to ensure that they have the resources that can be used for pledge?" Token". In addition to the public sale quota on CoinList, airdrops are the current channel for publicly obtaining BZZ, and the question of whether you can grab the airdrop and how much you can grab will go back to "A Fog: Check Exchange" .

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Triple Fog: Token Distribution

From the public information, it can be known that the total amount of BZZ is 62.5 million, and the specific distribution ratio is as follows:

Early private placement: 42% (about 26.08 million pieces)

Public sale: 8% (about 5.17 million pieces)

Swarm Foundation: 7% (about 4.38 million pieces)

Team: 20% (about 12.5 million pieces)

Ecology: 23% (about 14.38 million pieces)

It can be seen that a total of 62.5 million BZZs have been allocated, but this distribution ratio will cause many doubts.

How much BZZ is left for miners to mine?

Whether it is early private placement, public sale, or BZZ that flows into the foundation and the team, it is impossible to be the BZZ allocated to the miners for mining. Therefore, it seems that only the so-called "ecological" part of the BZZ has the possibility of becoming a "mine". However, of the 23% of the ecology, 10% will be used for DApp subsidies, 3% will be used for donations, and the 1 million BZZ used for airdrops may also be included in the ecology ratio, leaving less than the total amount 10% of BZZ may be used for mining.

There are even more bizarre rumors that after the mainnet goes online, miners are not digging BZZ, but ETH, and BZZ is only used for pledge before mining. The footsteps of the mainnet launch are becoming clearer and clearer, and various speculations are also emerging.

Will BZZ issue more in the future?

Another mainstream guess is that BZZ will be issued additionally in the future, and miners can mine these additionally issued BZZ at that time. However, once it comes to the issuance of tokens, it will bring a series of new problems to people, such as the specific mechanism of additional issuance, the number of additional issuances, and the impact of additional issuance on the value of tokens.

In short, it seems unclear about whether to issue more, how to issue, and the impact of additional issuance on all parties. At the current stage, it is still impossible to see the specific appearance of the BZZ token distribution mechanism.

In addition to the above triple fog, there may be many more puzzling things about Swarm, a king-level project.I believe that when the mainnet is launched, the team will clear up the fog one by one, so that we can finally get a glimpse of the whole picture of Swarm.