Mining has always been at the core of great cryptocurrencies gathering and connecting many crypto enthusiasts. However, mining also has high entry barriers. It requires expensive equipment, the electricity bills are incredibly high, one needs to be online 24 hours, and you’re never sure how many coins you’ll mine.
Minereum, the first self-mining smart contract, set out to change the way we think about crypto mining. Back in 2017, the platform introduced the concept of self mining, which allows anyone to mine coins without any computer infrastructure, electricity, or high investments. Contrary to traditional crypto mining, self-mining calculates the availability of coins to each address using the mathematical formula on the fly.
Early this year, Minereum launched the V2 airdrop with 1.2 Million addresses participating, each of them receiving a Genesis Address Level 1 with 32,000 MNE. If you are one of the participants you can now activate your address to Level 2 or 3 and start mining your coins!
How to activate the Genesis address from the v2 airdrop and start with self-mining
In case you participated in v2 airdrop and received a Genesis address with 32,000 MNE, you can upgrade your address and start with self-mining. Once your address is activated, it will be upgraded to Level 2 or Level 3, and the self-mining process will begin. Now you have five options to choose from:
- Set Genesis Address for sale in the Minereum V2 Decentralized Exchange.
- Upgrade the address to Level 2. In this case, mining, with a one-time fee of 0.30 ETH, will start automatically.
- Upgrade the address to Level 3. With a one-time fee of 0.90 ETH, Mining will start, and you can transfer your coins.
- Do nothing – choose not to mine your coins.
- Burn the coins.
To upgrade your Genesis Address, head over to the My Address page and click on the “Upgrade to Level 2” or “Upgrade to Level 3”. And please make sure you are using a Web3 browser loaded with your wallet.
If you don’t own a Genesis address, no worries. You can buy it in the Minereum V2 Genesis Address in the DEX platform. In this case, your address will be automatically converted to Level 3.
To learn more about the benefits of owning a Genesis Address, see here: https://www.minereum.com/whygenesis
Minereum staking – claim your staking award
Minereum staking went live on July 8th, 2020. Each Staking Period will last for 365 days. Once the 365 period ends, a new one will start. Each day will have a total MNE Staking Reward assigned to it, and each day the reward will decrease by 1%.
At the end of each day, the final amount of MNE sent by all the participants will determine how much each participant will get the percentage of what they sent for staking. The more MNE you send, the more reward % you get.
As of today, the staking rewards stands at 480%. To find out more about the Minereum staking, simply follow this link.
Participate in the Minereum Crypto Bond with up to 50% yield
The Minereum Crypto Bond is a blockchain experiment to prove that it is technically possible to bring traditional bond functionalities into a blockchain. Crypto Bond consists of three values: Maturity, Yield, and Bond value. Participating is quite easy. All you need is a web3 wallet such as Metamask (PC), TrustWallet (Android), or Coinbase Wallet (iOS / Android). If you want to find out more about Minereum Crypto Bond, here you can find more information.
Lucky Draw, a 100% RNG decentralized game without the use of oracles
Minereum Lucky Draw is a blockchain experiment to prove that 100% Safe on-chain randomness is possible. To participate, make sure you are connected to the page via a web3 browser (Example: Metamask, Trust Wallet, Coinbase Wallet) and that your address has at least 0.015 ETH PER TICKET.
Final words on self-mining
Minereum set out to transform the way we think about cryptocurrencies and mining. With self-mining, crypto mining becomes available to everyone, without expensive equipment. All you need is a Genesis Address and a bit of enthusiasm.
Now, it’s your turn. Tell us in the comments what you think about the self-mining.