Garbage Mining
This section refers to how the Garbage Mining concept works, and the details of its activities
Business Process
As shown in the image above, people can collect a special classification and specific units of waste items that are easy to recycle for example: plastic waste, so those people are called The Miners. After the garbage is collected, simply reach the nearest official bumoon physical warehouse / mining pool over the city (check the location on our website) that capable to trade collected waste into bumoon Tokens.
Garbage Screening
Garbage that enters the mining pool will go through a screening process that classifies each waste valuation. Items that do not meet the requirements will be rejected immediately,
Reward
After the screening process is complete, miners will be rewarded directly by BUMooN tokens. Miners can simply open Boo!™ apps and show their QR code to the officer in warehouse and the amount itself depends on valuation process in the garbage screening step. Because of the transaction occur in this process, smart contract automatically deduct the amount by 10% that goes into liquidity pool and holders
Note that the tokens value received are based on the actual fiat value that applied into garbage valuation
Buyback
When revenue is generated within a certain period of time, the bumoon team buys back the tokens from the market with 90% of the total revenue generated, while the other 10% are considered into developer profits.
Buying the tokens back from the actual market means that the tax will be applied by the bumoon smart contract logic which currently deducts taxes in every transaction happen in order to distribute specific amount to holders and supply the liquidity pool. So from 90% dedicated portion to repurchase, 10% will be deducted then goes into liquidity pool and holders
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