GOMINING is project"s native utility token. It combines a discount token, modified version of the burn and mint equilibrium (BME), and a veGOMINING (voter escrowed) governance model.
GOMINING token is designed to perform the following functions in the protocol:
Provide maintenance payments from NFT owners to service providers based on the discount token model;
Establish a rewards-based flywheel and governance rewards distribution via veGOMINING votes and governance system;
Distribute value among ecosystem participants in an algorithmic fashion;
Ensure the long-term engagement of hashrate NFT owners within the protocol based on veGOMINING votes and gamified activities.
The token provides the following utility to its holder:
It can be used to purchase LBH (Liquid Bitcoin Hashrate) on either the primary or secondary market;
It allows users to receive discounts on electricity fees paid from LBH holders to service providers;
It gives governance rights for protocol management (only for GOMINING locked on the veGOMINING smart contract);
It provides an opportunity to receive yield as rewards for governance (only for GOMINING locked on the veGOMINING smart contract).
Users can receive royalties in GOMINING tokens for the purchase of NFT through their referral link.
The discount model is directly coupled with the Burn & Mint model in the GoMining ecosystem.