What is GoMining (GOMINING)?

In the world of cryptocurrency and blockchain, Bitcoin mining has often been an inaccessible field for individual investors due to high costs and technical complexities. Aiming to overcome these barriers, GoMining (GOMINING) is a platform that makes Bitcoin mining accessible to everyone with an innovative approach. So, what exactly is GoMining, how does it work, and why is it attracting attention? Let’s explore in detail.

What is GoMining (GOMINING)?

GoMining is a platform established in 2017 to democratize Bitcoin mining. It eliminates the challenges of traditional mining, such as high equipment costs, technical complexities, and maintenance difficulties, allowing users to mine Bitcoin without purchasing or managing physical equipment. Through its Liquid Bitcoin Hashrate (LBH) protocol, GoMining tokenizes computing power from real data centers, offering users NFT-based digital miners. These digital miners are NFTs tied to real mining power, tradeable on networks like Ethereum, BNB Chain, TON, and Solana. The $GOMINING token serves as the platform’s utility token, used for maintenance fee discounts, governance rights, and other functions within the ecosystem.

GoMining aims to provide a simple and intuitive mining experience suitable for users with varying levels of technical expertise. Users can earn BTC and $GOMINING tokens, manage their assets with DeFi tools, develop strategies through gamification elements like the Miner Wars game, and own NFT-based mining power.

GoMining’s Key Features

GoMining stands out in the mining world with its innovative LBH protocol and flexible tokenomics structure. Here are the platform’s core features:

1. Liquid Bitcoin Hashrate (LBH) and NFTs

At the core of GoMining lies the LBH protocol, which represents real data center mining power. Each digital miner is recorded on the blockchain as an NFT tied to real ASIC mining equipment. These NFTs allow users to own mining power (measured in TH/s) and energy efficiency (W/TH). The transparency and security of NFTs are ensured by blockchain technology.

2. $GOMINING Token and Discount Model

The $GOMINING token plays a versatile role in the platform’s ecosystem:

• Maintenance Fee Discounts: NFT owners can pay maintenance fees with $GOMINING to receive up to 20% discounts. The discount rate depends on the token amount in the user’s wallet and the maintenance coverage period (1% per 18 days, up to 20% for 360 days).

• Governance: veGOMINING (vote-escrowed tokens) holders gain voting rights on key decisions like the Burn & Mint cycle and reward distribution.

• Rewards and Gamification: The token is used to earn rewards in the Miner Wars game and liquidity pools.

3. Burn & Mint Mechanism

GoMining manages token supply through a weekly Burn & Mint cycle. Tokens collected from maintenance fees are burned, and new tokens are minted. Depending on veGOMINING holders’ votes, the supply can be reduced. This mechanism aims to increase token value and reward long-term investors.

4. veGOMINING Governance Model

veGOMINING allows users to lock $GOMINING tokens for 1 week to 4 years to gain voting rights. The lock duration and amount determine voting power and reward share. Users can vote on weekly Burn & Mint cycles and reward distribution. This model encourages long-term participation and aligns the ecosystem’s success with stakeholders.

5. Miner Wars and Gamification

Miner Wars is a play-to-earn game within the GoMining app. Users deploy digital miners in strategic battles to earn BTC and $GOMINING rewards, adding a fun and competitive dimension to the platform.

6. GoMining Launchpad and Ecosystem

GoMining offers an ecosystem where users can purchase NFT miners on primary or secondary markets, manage assets with DeFi tools, and earn rewards through liquidity pools. Features like VIP statuses and clan creation further enrich the user experience.

How GoMining (GOMINING) Works

GoMining’s operations are designed to simplify and make mining accessible:

1. Registration and Digital Miner Acquisition: Users create an account on the GoMining app (available on App Store, Google Play, etc.) and receive a free 16 TH/s bonus miner as a learning tool to explore the platform.

2. NFT Miner Purchase: Users can buy NFT miners with TH/s and energy efficiency features from primary or secondary markets.

3. Mining and Rewards: NFT miners operate 24/7 in real data centers, mining Bitcoin. Users withdraw BTC rewards to their wallets.

4. Maintenance and Discounts: Maintenance fees paid with $GOMINING tokens qualify for discounts. Users can lock tokens for governance and reward benefits.

5. Governance and Gamification: veGOMINING provides voting rights, and Miner Wars offers rewards.

GoMining’s Benefits to Stakeholders

• Users: Can mine Bitcoin without technical expertise or expensive equipment, earning BTC and $GOMINING rewards.

• Token Holders: $GOMINING tokens provide discounts, governance rights, and rewards. veGOMINING encourages long-term participation.

• Service Providers: Providers like BMINE tokenize mining power to generate revenue.

GoMining (GOMINING) Tokenomics

The $GOMINING token operates on Ethereum, BNB Chain, TON, and Solana networks in ERC-20 and BEP-20 standards. Its tokenomics are based on the veTokenomics model:

• Total Supply: Not specified, but dynamically managed through the Burn & Mint cycle.

Distribution:

• Newly minted tokens go to service providers (65%),

• veGOMINING holders (20%),

• GoMining rewards (10%),

• and the project team (5%).

• Functions:

  • Maintenance fee discounts

  • Governance and rewards via veGOMINING

  • Use in Miner Wars and liquidity pools

  • NFT purchases and referral rewards

GoMining Investors

In 2021, GoMining received a $3 million investment from Bitscale Capital, which acquired $GOMINING tokens. This support reflects confidence in the platform’s growth potential.

GoMining Team

GoMining is led by an experienced team. Mark Zalan (CEO) drives the platform’s global vision. Jared Focose (North America CEO) manages regional operations. Vadim Soloveychik (CMO) develops marketing strategies and expands the platform’s user base.

Official Links

• Website
• X (Twitter)
• Whitepaper

 

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