GoMining Token
GoMining is a protocol offering tokenized Bitcoin hashrate exposure and BTC-related financial services (BTC yield, savings products).
Discount utility
Pay maintenance at a discount, maximizing mined BTC
Deflationary accrual
Burn-and-mint mechanism, issuance capped below burn
Governance & rewards
veGOMINING unlocks governance + 20% of mint to lockers
Mechanism map
- Discount Token
- Vote-Escrowed Utility Complex
Token functions
Discount Token
Users can pay for electricity and maintenance of their tokenized hashrate using GOMINING tokens from their wallet inside the platform, benefiting from discounted rates and preserving mined BTC.
A dedicated smart contract (0xC13F...0C3D) synchronizes balances daily and transfers the spent GOMINING to the burn-and-mint contract (0x44DD...fA5C), where the tokens are burned. New issuance is programmatically constrained to not exceed the burned amount.
As a result, maintenance payments in GOMINING directly translate into supply reduction, reinforcing a structurally deflationary dynamic and driving value accrual for existing holders.
Value drivers
Value Transfer
Represents paying in GOMINING tokens for Hashrate NFTs electricity & maintenance
Holders of tokenized hashrate are responsible for covering electricity and maintenance costs. Typically, the system deducts a portion of the mined BTC to pay for these expenses.
GOMINING token holders have an exclusive utility: they can pay these costs in GOMINING tokens at a discount. This allows them to spend less and preserves their mined BTC, allowing them to maximize long-term mining returns.
- `CostsPaid` — the USD value of maintenance and electricity costs paid in GOMINING tokens
Cashflow
Paying expenses in GOMINING provides discounts that are efficiently the additional user's cashflow
Hashrate NFT owners who pay expenses in GOMINING instead of BTC benefit from discounted rates. The difference between the standard (BTC) cost and the discounted GOMINING cost effectively becomes additional mining income.
Example:
- A user pays 100 USD per day in BTC for expenses (no discount)
- The same 100 USD per day expense is paid in GOMINING with a 10% discount → only $91 worth of tokens is charged
- The $9 difference is savings, which translates into additional cashflow enabled by using GOMINING to cover costs
- `discount` — discount rate of a particular user
Cashflow
Payments in GOMINING result in supply reduction (due to burn-mint mechanism), benefiting all holders with an indirect cashflow
GOMINING tokens used to pay for expenses are burned and trigger minting fewer tokens afterwards.
As a result, the volume of GOMINING payments results in GOMINIG supply reduction.
This benefits all existing holders through indirect cashflow.
Vote-Escrowed Utility Complex
The GOMINING ecosystem features a comprehensive utility layer built around veTokenomics. By locking GOMINING into veGOMINING, users unlock governance rights, reward participation, and access to enhanced utility.
veGOMINING holders can vote on key mining parameters and direct the allocation of 10% of newly minted tokens on an epoch basis, actively shaping incentive flows across the ecosystem.
Weekly Mint Distribution (every Tuesday)
- 65% → Hashpower service providers
0x4a58FCd78613545108d00Bed89EB27a9a63B4889
- 20% → veGOMINING holders (governance rewards)
0x69B3D98E2bdA71fD8B2053cAD3977ABbe550C476
- 10% → Ecosystem incentives (voter-directed)
0xB7868b801B87368c7723B9d7ab091C00B59b3046
- 5% → GoMining team
0x2e9c303104E78384a3b86691f5AbA9e4105fD64B
Voter-Controlled Incentives (10%)
This portion is allocated by veGOMINING voters and funds key ecosystem initiatives:
- Extra Mining mode discounts (reduced maintenance costs)
- Miner Wars prize pool (Odyssey league rewards)
- The Greedy Machines upgrades (TH power boosts)
- Liquidity provider incentives
- Bounty program rewards
Additional Utility
Holding sufficient veGOMINING voting power qualifies users for VIP status, unlocking further benefits such as enhanced discounts and exclusive rewards.
Emission Mechanism
Epochal token issuance is dynamically determined based on burn activity and governance:
GOMINING_minted = (1 - V * (1 - C)) * GOMINING_burnt
- V — share of votes opting to burn tokens without re-minting
- C — epoch-specific mint coefficient
This mechanism tightly links emissions to real usage (burn from maintenance payments) while allowing governance to modulate supply. The result is a feedback loop where higher utility-driven burn, combined with selective re-minting, reinforces scarcity and value accrual for veGOMINING participants.
Value drivers
Transferability Restriction
Represents GOMINING lock veGOMINING to activate its utility functions
GOMINING must be locked into veGOMINING to unlock governance rights and participate in value accrual.
veGOMINING holders receive a share of newly minted GOMINING, which is issued following burns driven by electricity and maintenance payments.
- `staking_period` — the duration of the lock-up period
- `amount_staked` — the amount of tokens locked up by the user
Conditional Action
Reflects the act of voting in the GOMINING governance
veGOMINING voting-power holders are allowed to participate in voting on:
- The mint rate in the burn-and-mint scheme.
- The allocation of 10% of the weekly emissions between various ecosystem initiatives
Cashflow
Represents veGOMINING rewards
Represents the value captured by veGOMINING holders, as 20% of the weekly GOMINING mint is allocated to veGOMINING voters as rewards.
- `mint_rate` — the epoch-specific mint-rate parameter governing the mint-and-burn model
Access
Represents access to the VIP status and associated benefits
Holding a sufficient amount of veGOMINING voting power qualifies the holder for VIP status, unlocking additional benefits such as maintenance discounts, exclusive TH reinvestment rewards, and more.
Governance
Represents the value derived from influencing governance outcomes
Reflects the value derived from participating in governance, including decisions on burn–mint parameters and the allocation of rewards.
- `user_vote_allocations` — is the representation of allocations of votes by the user during the voting
- `user_strategy_representation` — is the representation of the user's governance outcome preferences