Mine NETA on Ergo

ErgoErgo
$3.10
‑5.77%
medium.com2m ago

Mine NETA on Ergo

We are excited to announce the details of the anetaBTC subpool on Ergo. Miners can earn a significantly higher return than mining ERG alone. The rest of this article will explore what to expect, and how to get involved with our community!

Introduction

Over the last few weeks, we have discussed mining NETA on Ergo.

In this article, we explain the full details of how miners can earn NETA, while simultaneously increasing the value of the NETA Liquidity Fund and increasing the security of Ergo’s blockchain.

Starting Saturday, June 11th, 2022, in collaboration with GetBlok.io, miners can join the anetaBTC smart pool and earn a significantly higher return than mining ERG alone.

In the anetaBTC smart pool, miners will earn NETA instead of ERG. Miners will earn 22% more mining NETA compared to mining ERG directly.

This means instead of earning 1 ERG, when mining with anetaBTC smart pool, miners will earn the equivalent of 1.22 ERG in NETA. The conversion rate is constantly adjusted to ensure that miners earn 22% more than they would mining ERG directly.

For example, 1 ERG is currently worth ~137 NETA. When mining the anetaBTC smart pool and using the current conversion rate, miners will earn ~167 NETA per ERG mined — which is equivalent to 1.22 ERG.

In Phase I, 10 million NETA will be distributed to miners.

When the smart pool is live, miners will be able to participate here.

NETA Liquidity Fund

This mechanism will generate ERG for anetaBTC, and in return allow miners to earn a significantly higher return compared to mining ERG alone.

80% of earned ERG from miners will be funneled back into the NETA Liquidity Fund and 20% will be allocated for research and development — similar to the structure of our LISO.

The 80% of ERG earned from the anetaBTC smart pool will be used to provide liquidity to our DEX partners and will facilitate the continued accumulation of assets in the NETA Liquidity Fund, which currently holds ADA, BTC, ERG, NETA, cNETA, KNC and ErgoPad.

Final Remarks

We are excited to release the details for mining with anetaBTC which allows miners to earn a significantly higher return compared to mining ERG alone. We are looking forward to providing an incentive to miners to strengthen the Ergo network.

We sincerely thank each and every member of our community for their support. We will continue to update our community on development progress as we work towards a better future for all.

For more information on GetBlok:

Website | Twitter | Telegram | Discord | Github | Smart Pool

For more information on anetaBTC:

Website | Twitter | Telegram | Discord | Reddit | Github | Linktree