2019-12-01

Mine EOS RAM with RUTM

rutm

Recently a new token has been launched in the EOS mainnet with the aim of speculating on the price of RAM in the mainnet in a similar way to how EIDOS currently works with the CPU. The token in question is called RUTM, equivalent to RAM UP THE MOON.

The token rules were published yesterday on Github by a newly created account, apparently the token managed to tokenize the EOS RAM, allowing to mine it through a simple transfer of RUTM tokens.


Airdrop Rules:

Airdrop rule 1: Send the start EOS ram mining seed

"Step: your EOS account sends 0.0001 EOS to contract mining address ramupthemoon with memo seed, it will immediately send 0.0001 RUTM and 0.0001 EOS tokens to you, The process is as follows

EOS account → 0.0001 RUTM → ramupthemoon;
ramupthemoon → 1.0001 RUTM → EOS account, 

at the same time occupies 1KB ram of EOS account. You can mining 1-100 RUTM at one time, and you can mine 100 RUTM by transferring 0.01 RUTM at one time. Make sure you have enough memory on your account."

Airdrop rule 2: EOS RAM mining

"EOS account sends 0.0001 RUTM to the EOS ram mining contract address ramupthemoon. It will immediately send 1.0001 RUTM tokens to you. Once one time mining is completed, a new RUTM token will be generated for each mining. 0.25 RUTM will be sent to the contract publishing account. At the same time, the transfer EOS account will occupy 1KB ram, which can be recycled. The process is as follows:

EOS account → 0.0001 RUTM → ramupthemoon;
ramupthemoon → 1.0001 RUTM → EOS account, 

at the same time occupies 1KB ram of EOS account. You can mining 1-100 RUTM at one time, and you can mine 100 RUTM by transferring 0.01 RUTM at one time. Make sure you have enough memory on your account."


RAM Recycle Rule

"EOS account send one RUTM token to the mining contract account ramupthemoon, memo: freeram, EOS account can recycle 1KB EOS RAM occupied by the EOS ram mining, return the occupied 1KB EOS RAM to the EOS account, At the same time, the one transfer RUTM token is destroyed. One RUTM token is equal to the recycle right of 1KB EOS RAM. The process is as follows:

EOS account→1 RUTM (memo: freeram)→ramupthemoon

The 1KB EOS RAM occupied by the EOS account ram mining is recycled, and 1 RUTM is destroyed. The recycled EOS RAM can be sold. Sending 100 RUTM at a time can recycle 100KB RAM."


Basically you can send a simple transaction to the RAM UP THE MOON contract to receive the RUTM token. Each RUTM unit will occupy 1KB of RAM of the receiving EOS account, but the account may decide to burn the token to free its RAM. This creates arbitrage opportunities between the price of RAM on the mainnet and the price of RUTM.

The price of RAM has received a huge spike due to this new mechanism while the RUTM is currently traded on Newdex.

RAM Price


Sources:

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