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What is PulseMafia?
PulseMafia is a project focused on pooling PLS within the community in order to maximize rewards through Pulsechain Validators. This is achieved by:
- 1.Launching an ongoing community fundraise to raise the most PLS possible.
- 2.Launching as many validators using the pooled funds (in exchange for MAFIA token).
- 3.Reinvesting the rewards immediately back in to validators to grow the portfolio (compound) for 1 year.
Problem: Most of us are sitting on idle PLS, not earning on it. Becoming a PLS Validator requires 32m PLS (~$3,000), however the node (computer) itself costs ~$1500, hence doesn't make sense to do it on your own unless you're a large bag holder. Additionally, one must be technical enough to know how to operate the node for your validators. Between the capital required and technical ability, it makes it very difficult for the average person to participate.
Solution: Run an ongoing fundraise to create a PLS pool, in exchange for the MAFIA token. The Benevolent Wallet (BW), also known as "The Godfather" uses the funds to create PLS validators, in exchange for minting MAFIA token that represents your % ownership of the pool.
Every time The Godfather earns 32M PLS in rewards (minimum required to stake), he reinvests (compounds) back in to a new validator.
This process happens for a period of 1 year (August 15, 2024). At the end of the length term, the Benevolent Wallet exits the validators & distributes the principal + rewards back to the MAFIA token holders.
It's similar to "Bigger Pays Better" in HEX, except The Godfather's number one focus is to acquire new validators as quickly as possible in order to compound his families' (your) rewards.