Blockmine, the new revolutionary sustainable mining solution on Binance Smart Chain, is about to release its GOLD BAR refinement coin.
The Gold Rush
Blockmine is introducing the next stage of their unique mine-themed ecosystem. The sustainable liquidity mining service that provides gaming and Non-Fungible Tokens (NFTs) will debut GOLD BAR boosting on September 25th, the third of four phases in their token development process.
GOLD BARs are Blockmine’s most recent token release. Starting September 25th, the new GOLD BARs can be enhanced. To get GOLD BARs, you must stake GOLD NUGGETS and use GOLD COINs to complete the refining process, which is unique to the DeFi system.
The transition from GOLD COINS to GOLD BARs generates new value, and the refining period is three times as long as that of GOLD COINS: 90 days. Furthermore, it raises the price of GOLD COINS by burning them throughout the procedure.
GOLD BARs provide a new set of utilities. To begin with, they can be used as game tokens, with the exception that no NUGGETs are required as an admission fee anymore. Second, after they are harvestable for the first time, GOLD BARS will be the sole token that can be staked in partner pools. This assures that future pools will benefit only long-term investors.
Last but not least, GOLD BARs will be the sole means to get BIT BAR tokens, which will serve as Blockmine’s governance token among other things.
Blockmine is a new Liquidity Mining Solution that also includes Gaming and Coin Evolution. Blockmine, which was introduced on Binance Smart Chain, lets you convert your $NUGGETS into $GOLDCOINS, $GOLDBARS, and, subsequently, $BITBARS. Gaming is the next big item that is in the works and will be available on Blockmine shortly.
Blockmine is dedicated to offering long-term liquidity mining that serves the goal for which it was created. The deposit fees received by the platform, the native token minting in a sustainable way as part of the sustainability contract, the gaming fees (see below for more details), and ultimately the fees of the innovative DEX protocol cover the Liquidity Rewards.
Blockmine solves the primary issues of the confusion between yield farming and liquidity mining by:
- Non-fixed coin minting with smart degrading and varying.
- To maintain consistent growth, sophisticated buyback and burn algorithms are used automatically.
- Limited utility tokens that are tied to the native platform token, acting as a deflationary mechanism
- Locked LPs in mines to prevent BIG BAGS’ “one-day jump-in-jump-outs.”
- Because of the game features and DEX, tokens have fantastic use.
- innovative DEX with limited chain routing (RCR protocol).
It is a well-known concern that native tokens can experience significant inflation over time. While some yield farms have devised max-supply methods, these cannot pay out incentives once the maximum supply has been achieved. To address this constraint and the inflation of limitless tokens, they provide both limited tokens and their unlimited native token ($Nuggets), which grants users unique benefits such as governance and usage of their gaming features.
As a deflationary technique, minting these tokens is likewise vulnerable to the burning of native tokens. They presently have three limited utility tokens in the works:
- $GoldCoin Token (max supply: 1,000,000). The GOLD COINS are mostly used for games in the Blockmine’s Saloon, such as Coinflip and a new game that will be released in October. You must have NUGGETS in order to refine them into GOLD COINS. You may also purchase them in advance for the GOLD BAR refining release next week.
- $GoldBar Token (max supply (100,000). $GoldBar is set to be launched by 25th September.
- $Bitbar Token (max supply (10,000). The BIT BAR token will be issued later this winter as part of a special event for refining.
Concept completion and More Gaming is on the way
Blockmine has taken the first step in transforming the Liquidity Mining solutions now that the project concept has been finalized and the whitepaper is published. Furthermore, they emphasize the gaming component as a critical component of the sustainability contract. Once $GoldCoins was collectible, the first game was launched four weeks following the app’s debut. Coin was their first released game. BlackJack, Treasury Boxes, Knife Dart, and other games are in the works.
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