Gomining

If you have read our <a href="https://gmt.io/" rel="noopener noreferrer nofollow">Roadmap</a> , you know that there is very little time left before the launch of the main stages of the new tokenomics.We have already <a href="https://medium.com/&#64;GoMining/introducing-gomining-v2-the-liquid-bitcoin-hashrate-protocol-3404a9c82ec7" rel="noopener noreferrer nofollow">introduced</a> you to the main postulates of the ecosystem , told you what <a href="https://medium.com/&#64;GoMining/the-liquid-bitcoin-hashrate-protocol-36350ff3bc0" rel="noopener noreferrer nofollow">the GoMining protocol</a> is, and what principle <a href="https://t.me/gmt_token/2362" rel="noopener noreferrer nofollow">the Ve Token </a>will work on.It&#39;s time to figure out the mechanism that will help GoMining Token to constantly grow in price and bring our product to the top of the cryptocurrency hierarchy in the future.So, here is the Burn &amp; Mint Model &#x1f525;&#x1f4b0;The main principle behind the liquid bitcoin hashrate (LBH) presented in the form of NFT is that each digital miner has real computing power.Thanks to this, our NFTs mine bitcoins, but this is a rather energy-consuming process. Therefore, NFT holders pay the service provider that issued the digital miner for electricity. Owners who pay for GoMining with tokens receive an additional 10% discount on maintenance, which ultimately increases the net profit from mining up to 30%.As per the Burn &amp; Mint Model, all tokens spent by holders to pay for electricity will be sent to a special smart-contract address and completely burned.Next, a new amount of tokens is issued in a quantity that will always be lower than those burned.The new tokens will then be distributed among ecosystem participants in the following way:65% - to the service provider; 20% - to the holders of tokens locked in the Ve contract; 10% - GoMining rewards. Their distribution will be determined by the holders of Ve tokens; 5% - to the project team.The output coefficient will start from 0.8 and go up to 0.99 depending on the epoch.This principle will reduce supply when demand increases, which, based on economic laws, will positively affect the final cost of GoMining tokens.As a result, all parts of the GoMining ecosystem will be directed to the long-term development of the project, and its participants will be motivated to increase the profitability of products.

GoMining Token: BURN & MINT PROCESS

GoMining

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