GoMining
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Voting

What is veGOMINING voting?

veGOMINING voting is a DeFi-based mechanism for deciding on key governance issues in the GoMining ecosystem. These include:

  • Whether to activate the Burn & Mint mechanism each week
  • How GOMINING rewards are distributed

Voting on the Burn & Mint mechanism

The result of this voting directly affects how many new GOMINING tokens are minted after the burn phase. The amount is calculated using the formula:

GOMININGminted=(1−V%×(1−C))×GOMININGburnt\text{GOMINING}\text{minted} = (1 - V\char"25 \times (1 - C)) \times \text{GOMINING}\text{burnt}

Where:

  • V% is the percentage of votes "for" to permanently burn GOMINING tokens
  • C is the mint coefficient that changes depending on the current epoch

If no one votes in favour of burning (V% = 0), the protocol mints the same number of tokens it burned — maintaining the total supply.

If veGOMINING holders vote to burn (V% > 0), fewer tokens are minted than burned, resulting in a net reduction in supply.

The more votes in favour, the greater the gap between burned and minted tokens — and the more GOMINING is permanently removed from circulation.

Voting on GOMINING reward distribution

veGOMINING voters also decide how weekly GOMINING rewards are allocated between key features of the ecosystem:

  • Extra Mining mode discount — additional discount on maintenance fees for all Mining mode users
  • Miner Wars prize fund — extra GOMINING rewards for personal victories in the Odyssey league players
  • The Greedy Machines power increase — TH upgrades for all miners from The Greedy Machines collection
  • Liquidity provider bonus — weekly GOMINING rewards for liquidity providers
  • Bounty cycle rewards — weekly prize pool for Bounty program participants

How to vote?

You'll find step-by-step instructions in the Vote using veGOMINING votes article.