GoMining Unveils Innovative VeTokenomics Empowering DeFi Users

[DeFi Development Services]

GoMining, an advanced bitcoin mining initiative, has harnessed its extensive experience dating back to 2017 to deliver a seamless experience for its clients. The eagerly anticipated liquid bitcoin hashrate (LBH) protocol, which has been widely discussed across the company's social media platforms, has been effectively put into operation and is now accessible to all GoMining users. According to CEO Mark Zalan, this move will have a profound impact on the infrastructure, providing users with the opportunity to actively shape its development through the veGomining governance model. Zalan emphasizes the critical role governance plays in blockchain systems, ensuring the presence of proper incentives, fostering growth and success, and exerting a significant influence on decentralization. There is a lot of competition in DeFi Token Development Services and GoMining is thriving.

The idea behind this concept draws inspiration from the Liquid Staking narrative, enabling users to participate in mining while utilizing tokens that represent their locked stake in the network validator. This innovative approach transforms the bitcoin hashrate into a liquid and tradable asset on the Ethereum/BNB chains, taking the form of non-fungible tokens (NFTs). Specifically, the liquid bitcoin hashrate (LBH) functions as follows: physical mining equipment and its associated hashrate operate within a data center, while users own NFTs that symbolize their ownership of the corresponding hashrate positions.

 

GoMining's tokenomics strategy encompasses three key components: the discount token, the burn and mint equilibrium (BME) mechanism, and the previously mentioned veToken governance model. This fusion of elements grants GoMining token holders a wide array of utilities. These include receiving discounts on electricity fees paid to service providers, gaining governance rights for protocol management, and earning yield as rewards for actively participating in governance activities.

Owners of LBH tokens can leverage GoMining tokens to settle their electricity charges with service providers. Notably, all tokens used for these payments are subjected to burning, initiating the burn and mint equilibrium (BME) model. Following the burning process, service providers receive their electricity payments through token minting, thereby ensuring automatic balance within the ecosystem. This approach effectively upholds the stability and integrity of the token economy.

Remarkably, in just a little over two years, GoMining has achieved remarkable milestones, including distributing over 2,000 BTC to its holders, issuing 20,000 NFTs, and successfully selling more than 13,000 NFTs.