GoMining Token on BNB Chain
GMT / USDT
Price: $0.4984
Token: 0x7ddc52c4de30e94be3a6a0a2b259b2850f421989
Pair: 0xb297d74cbe67ba9a0fa92862c31e501228e8b00b
Links
Token: 0x7ddc52c4de30e94be3a6a0a2b259b2850f421989
Pair: 0xb297d74cbe67ba9a0fa92862c31e501228e8b00b
Price
$0.4984
Change 24h
+
0.00%
High 24h
$0.4984
Low 24h
$0.4984
Market cap
$21.61M
Volume 24h
$0.00
Liquidity
$392.71K
Tax
0%
Holders
19.7K
Added to BNB
10 months ago
Updated: 2024-12-28 04:00 UTC
Created: 2024-3-7 19:30 UTC
Pressure
Introducing GoMining Token (GMT): A New Arrival on the BNB Chain
Welcome to the detailed profile of GoMining Token (GMT), the latest addition to the BNB Chain. As an exciting new cryptocurrency token, GoMining Token (GMT) was launched with the intent to join the thriving BNB Chain ecosystem.
This token operates on the BNB Chain, an infrastructure that supports the creation and execution of decentralized applications (dApps) and allows users to transact in digital currencies seamlessly and securely.
At NewCoinHub, we provide up-to-date and comprehensive data about GoMining Token (GMT) including its current price, trading volume, liquidity status, and the number of holders. We also supply the official smart contract address, crucial for those interested in further exploration or investment.
Please note that the world of cryptocurrency can be volatile and unpredictable. We encourage all visitors to perform their own due diligence and research when considering investments. For the most accurate and recent data, continue to refer to this page, as we strive to update our information in real-time.
Read on to learn more about GoMining Token (GMT) and find answers to some frequently asked questions.
Token description
What is Gomining Protocol? GoMining is a Liquid Bitcoin Hashrate protocol. Gomining allows users to own Bitcoin hashrate digitally as an NFT asset on the Ethereum/BNB chains and the Bitcoin blockchain (ordinals) without the necessity to own or maintain their physical mining infrastructure. It simplifies Bitcoin mining for millions of users and unlocks the huge potential of Bitcoin hashrate to be used as RWA (Real World Asset) in Defi. The hashrate NFT position continuously generates Bitcoins and can be traded or used as collateral in Defi like any other asset. To make this possible, Gomining created and developed the Liquid Bitcoin Hashrate (LBH) concept: while the physical mining equipment and the corresponding hashrate operate in the data center, the user owns an NFT that represents the hashrate position. The LBH tokens can be used in Defi like Ethereum-based LSTs (liquid staking tokens) : they generate income on behalf of their owner, can be traded, and can be used in Defi protocols for borrowing/lending purposes. For example, LBH tokens can be used as collateral for borrowing stablecoins for farming strategies and providing additional income to the LBH token owner. In addition to using NFTs for bitcoin mining or Defi-related activities, NFT owners can participate in play-to-earn mechanics that enrich the NFT-based mining experience, engage the community, and provide additional income to NFT owners. Gomining actively develops GameFi elements that allow users to generate additional income in NFTs on top of primary BTC mining proceeds. What is the Gomining token? The design of GoMining token combines a Discount token, a modified version of the burn and mint equilibrium (BME) [2] [3], and ve Token (voter escrowed) governance model [4]. The GOMINING token has the following functions within the Gomining ecosystem: Discount token for electricity payments. NFT hashrate owners are required to pay electricity and maintenance costs, which are deducted from BTC mining revenue. By using the Gomining token for power/maintenance payments, users receive a 10% discount and continuously mine more bitcoins. Protocol governance. Users participating in Gomining governance can vote on proposals, influence protocol management, and most importantly - Gomining rewards distribution to the community of NFT owners and GameFi activities. Participation in governance requires locking tokens into a veGMT contract, which works identically to the well-known veCRV (vote-escrowed Curve contract). Users who lock Gomining tokens in a vote-escrow (ve) contract receive (1) votes and (2) stake rewards. The longer the lock, the greater the number of votes and shares in the reward distribution for a given number of locked Gomining tokens. In addition to the Discount Token Utility and Governance Utility, token holders can upgrade the hashrate and energy efficiency of their Liquid Bitcoin Hashrate positions using Gomining tokens. How Liquid Bitcoin Hashrate NFTs are issued? Liquid Bitcoin Hasrate NFTs are issued by Service Providers using Gomining. The requirements for Service Providers include: (1)to have public hashrate proof in known BTC mining pools (2) membership in reputable mining organizations such as the Bitcoin Mining Council. In the future, Gomining aims to launch its own BTC mining pool and require Service Providers to use it for even more transparency. How Gomining community rewards are allocated? The Gomining community distributes rewards via weekly voting, which requires locking Gomining tokens into a vote-escrow contract (veGMT) to receive votes. How to buy and use hashrate NFT for BTC mining? Users can buy NFTs on the Gomining website or NFT marketplaces like OpenSea. When the NFT is in the wallet balance, the user should visit the Gomining website, connect the wallet, and provide the BTC wallet address to receive the mining proceeds. The more efficient mining strategy involves using GMT tokens to pay for electricity and maintenance costs. GMT tokens can be purchased on various CEX exchanges, Uniswap (Ethereum), PancakeSwap (the BNB chain), or on the Gomining website that integrates all purchase options on one page. Gomining token circulation mechanics. The Gomining token uses the burn-and-mint equilibrium model (BME) to circulate within the ecosystem. It works as follows: all tokens paid by users for electricity/maintenance costs and some other activities are burned, and immediately, new Gomining tokens are minted by a smart contract. The burning and minting process is based on epochs and minting coefficients. Each epoch has a number of tokens to be burned and minted according to a certain mining coefficient that increases from epoch to epoch. The total number of Epochs is 20, here we share some highlights: Epoch 0: 10,000,000 tokens burnt, 8,000,000 tokens minted, 0.80 coefficient Epoch 1: 20,000,000 tokens burnt, 16,200,000 tokens minted, 0.81 coefficient Epoch 2: 30,000,000 tokens burnt, 24,600,000 tokens minted, 0.82 coefficient Epoch 17: 750,000,000 tokens burnt, 727,500,000 tokens minted, 0.97 coefficient Epoch 18: 1,345,762,000 tokens burnt, 1,318,846,760 tokens minted, 0.97 coefficient Epoch 19 (the Final Epoch): the infinite number of tokens can be burned and minted with a 0.99 coefficient The minted tokens are distributed to: Service Providers (hashrate NFT issuers) for compensating their electricity/maintenance costs (65%) Governance stakers (20%) Rewards and incentives for the NFT owners and GameFi activities (10%) The team (5%)
Token overview
What is GoMining Token (GMT)?
GoMining Token (GMT) is a newly launched cryptocurrency token on the BNB Chain. We encourage all potential investors to do their due diligence and thoroughly research new tokens before making any investment decisions.
What is the price of GoMining Token today?
As of our latest update, the current price of one GoMining Token (GMT) is approximately $0.4984. Please note that cryptocurrency prices are extremely volatile and can change rapidly.
How do I buy GoMining Token?
You can purchase GoMining Token (GMT) by using the 'trade' button on NewCoinHub. Alternatively, PancakeSwap is another platform that allows trading of GoMining Token.
What is GoMining Token smart contract address?
The smart contract address for GoMining Token (GMT) is 0x7ddc52c4de30e94be3a6a0a2b259b2850f421989. Always verify smart contract addresses before making transactions to avoid scams.
What is the GoMining Token Market Cap Today?
The market cap of GoMining Token (GMT) as of today is $22M. Market cap, which is the total value of all tokens in circulation, is calculated by multiplying the current price by the total supply of the token.
What is the last 24h GoMining Token trading volume?
The trading volume of GoMining Token (GMT) in the last 24 hours was $0.00. Trading volume represents the total number of tokens traded on all exchanges in the past 24 hours.
How much liquidity does GoMining Token have?
As of now, the liquidity of GoMining Token (GMT) is $392,709.18. Liquidity refers to the ease with which a cryptocurrency can be bought or sold without affecting its price.
How many people are holding GoMining Token?
Currently, there are 19732 holders of GoMining Token (GMT). This number refers to the total count of unique addresses holding at least some amount of GoMining Token.
Frequently asked questions
What is a Newly Launched Crypto Token?
A newly launched crypto token is a type of cryptocurrency that has recently been released to the market. These tokens are often introduced through a process known as an Initial Coin Offering (ICO), Initial Dex Offering (IDO), or similar launch mechanism.
What is the BNB Chain?
The BNB Chain, formerly known as the Binance Smart Chain (BSC), is a blockchain network built for running smart contract-based applications. It's designed to be fast and efficient, with a focus on enabling the creation and exchange of new tokens.
What is PancakeSwap?
PancakeSwap is a decentralized exchange (DEX) running on the BNB Chain. Users can trade directly from their wallets in an automated manner, offering liquidity in exchange for fees.
What is a smart contract address?
A smart contract address is a unique identifier within a blockchain where a smart contract resides. Transactions, including token buying or selling, interact with these addresses.
What does token liquidity mean?
Token liquidity refers to how easily a token can be bought or sold without causing significant price changes. High liquidity usually means that the token can handle large trading volumes without substantial price swings.
What does token trading volume mean?
Token trading volume is the total quantity of a token that has been traded (bought and sold) during a specific period, typically 24 hours. It provides insight into the token's activity and popularity.
What is a token holder?
A token holder is a person or entity that owns some quantity of a specific cryptocurrency token. The number of holders can be indicative of a token's distribution and its community size.
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