ARMS Rewards
ARMS Rewards are a internal tokens that represents a claim on 2ACoin on deposit at the ARMS Central Repository.
1. ARMS Reward Creation
ARMS Rewards come into existence when a 2ACoin is deposited into the ARMS Central Repository. 2ACoin (ARMS) can be deposited by various means and methods.
- 100% of the ARMSBOOK.COM mining pool fees (in 2ACoin) is deposited into the ARMS Central Repository and minted into ARMS Rewards.
- When a user transmutes 2ACoin into ARMS Rewards.
- When a user purchases ARMS Rewards, the ARMS Reward Purchase System, purchases Bitcoin, purchases 2ACoin with this Bitcoin, then sends the 2ACoin to the ARMS Central Repository to be minted into ARMS Rewards to be distributed to the user.
- When the user subscribes, instead of purchasing ARMS Rewards, via the process above.
2. ARM Reward Burning
ARMS Rewards are burnt out of existence when a 2ACoin is withdrawn from the the ARMS Central Repository to a users account. 2ACoin (ARMS) can be withdrawn from the ARMS Central Repository by various means and methods.
- A user requests a 1:1 conversion of ARMS Rewards to 2ACoin.
- A user performs a “Cash Out” of their ARMS Rewards for either Bitcoin or Litecoin. The ARMS Reward Cash Out System, converts ARMS Rewards to 2ACoin, Then sells that 2ACoin on the open market with proceeds being distributed to the user.
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