MINE Network IDO Application

Hey All,

We have a project we’re considering for our lineup in late Oct/Early Nov that has passed Council of Asgard (made up of our team and advisors) review and is moving to primary Community Review. This is not a Yes/No vote, but we want to provide you all the information we have to start a community discussion.

MINE Network (previously Polkamine)

MINE Network is the first decentralized Standard Hashrate-Token protocol that solves the liquidity problem of miners on multi-chains, bringing Cash flow to the mining industry while lowering the barriers to entry for retail miners. By tokenizing the mining power from PoW based cryptocurrencies like Bitcoin, Ethereum, Filecoin, Litecoin, and others, MINE Network issues standardized Hashrate-tokens called pTokens. Every standardized Hashrate-Token is a synthetic token that represents a certain part of mining power from a unique mining blockchain and is also collateralized by its standardized mining power. The pTokens can be bought and sold on CEXs or integrated into single and cross-chain DeFi protocols (like DEXs, lending protocols on Polkadot, Ethereum, HECO, Binance Smart chain, etc.). This increases the liquidity and Cash flow for miners who are using MINE Network to tokenize their Hashrate. Staking these Hashrate tokens gives individuals interested in mining the opportunity to earn mining rewards without owning mining equipment themselves. To monitor the on-chain revenue data of different blockchains in real time, MINE Network will use Substrate’s OCW (Off-Chain Worker) oracle. Uploading revenue information this way ensures that the provided data is open and transparent for all participating parties.
~powered by Polkadot

MINE Pitchdeck

MINE Token Sale Primer

MINE One Pager

MINE Whitepaper

Here is a latest project sent to us (Thorstarter) by MINE Network:

Final version of Tokenomics:*

MINE Network new Tokenomics.xlsx - Google Drive

The initial circulating supply was lowered drastically, also some changes in the allocation shares were made. A very low initial circulating supply lowers the selling pressure after launch to drive the price up.

- We are very happy to welcome three new advisors to our side:

Orion Depp - Master Ventures Polkadot VC fund

https://master.ventures/team/

https://twitter.com/OrionDepp

https://www.linkedin.com/in/oriondepp/

Anthony Blackburn - CMO VAIOT, ChainX, Drife and others

https://www.linkedin.com/in/anthonyblackburnn/

Nikita Vassev

https://www.linkedin.com/in/nikita-vassev/

Founder and CEO of TerraCrypto

Nikita Vassev is an entrepreneur, investor, producer of digital and blockchain projects, speaker at international conferences and forums. Founder of the 13Exchange p2p platform aggregator, the Six Touches Agency digital agency and the largest specialized project TerraCrypto, which unites miners and community traders from all over the world. TerraCrypto held events in Germany, Russia and the CIS countries, the team is well acquainted with different mining markets and its features. The project partners were F2Pool, Avalon, BITMAIN, Binance Pool, EMCD, MSK miner and many key market players.

Target launch date October 2021

Testnet is possible to launch in early Oct, which means once we complete the IDO, we will have our testnet for the public

Frontend GUI:

7 Likes

That’s a v cool project tbh

I gotta be honest and say I don’t know a lot about the problem/technicals this project is trying to solve.
As far as I do get a notion of things, it does sound promising.
If I had to vote for real now, i would delegate my vote to @bjorn and trust him to make the right call.

Where can we learn and understand about the upside of owning a hashrate token? Is there an APY figure?

I don’t understand everything, like someone else said, but I have a question: I thought crypto was moving away from Proof of Work because of environmental concerns, so can this project stay relevant in the long term?

1 Like

I’ve been thinking about mining through Compass Mining. This might be a better option. Seems interesting. I don’t think PoW mining via BTC is going away, so this might be a good way to DCA into BTC as diversification.

The BTC meme is strengthening lately as well with regulation of stablecoins in the air. I find that BTC and Thorchain have an appealing synergy. If this project allows me to earn BTC in some way then I would find it interesting.

Where would the mining hardware be located at? I find this project similar to #STRONG ? Where we pool 10 #STRONG to create 1 node but the rewards are in $STRONG instead of the native token. Would be keen in this project if the rewards are in the native token.

Love the idea of this project on Thorstarter!