GoMining Staking

1. What is GoMining Staking?

GoMining Staking is a passive yield opportunity for owning and locking your tokens for a certain term.
GoMining Staking does not involve working under the Proof-of-Stake mechanism. It operates on the basis of smart contracts via ERC-20 protocols. The distribution of rewards is guaranteed by the smart contract code of the GoMining Staking.

2. Where does the staking rewards come from?

Tokens staked by users allow us to be confident in their long-term desire to own GoMining tokens. The more staked tokens are on GoMining's smart contracts, the more positively it affects the token's exchange rate and the company's steady growth.
We use staked GoMining tokens as collateral to buy new equipment and generate mining yields, from which we pay staking rewards. So you can use GMT as a contribution to the growth of the company and to gain personal benefit from staking rewards.

3. What types of GoMining Staking are available?

We currently offer two types of staking: fixed and flexible.

4. What is a fixed staking?

It's a staking with a fixed annual percentage rate and a one-time guaranteed reward in GoMining tokens. With this type of staking, tokens are locked for a certain term without the possibility of withdrawal.
Since we know all the details of how to choose mining equipment, configure and maintain it, and have access to cheap electricity, we can afford to distribute mining rewards at a fixed rate.
At the end of the staking term, you can unstake the locked tokens along with the additional rewards received from the annual percentage rate.

4. What is a flexible staking?

It's a staking with a floating rate. It allows to receive daily BTC rewards immediately after staking GoMining tokens. The rewards come from the staked tokens and the mining equipment bought with them.
The final percentage rate (APR) for this staking depends on the specifics of the mining equipment market, the mining difficulty, BTC rate, and the crypto market conditions. This rate may be higher or lower than the rate on the fixed staking.
You can also use the rewards reinvestment feature and receive GMT instead of BTC.
With this type of staking, tokens are locked for a certain term without the possibility of withdrawal. At the end of the staking term, you can unstake the tokens in the same amount as you staked them.

5. How often are the rewards distributed?

Fixed staking Reward is distributed once at the end of the staking term straight to your GMT wallet you opened a position with.
Flexible staking Rewards are distributed daily. If your daily reward is less than 1,000 Satoshi, it's saved on your virtual balance. And so until the balance will accumulate at least 1,000 Satoshi — then all accumulated rewards will be transferred to your real BTC wallet.

6. How does GoMining Staking work?

GoMining Staking works through smart contracts, which guarantees the distribution of rewards to users. We cannot affect staked tokens, burn staked tokens or change the percentage rate for already staked tokens.
This means that if you have staked tokens under certain conditions described in your personal account at the time of opening a staking position, the conditions can't change for you.
However, we reserve the right to change the interest rate, the terms of staking, and completely stop the possibility of staking GoMining tokens for new users. Any changes in the terms of staking will be shown on the GoMining website and in the personal account. Check the terms carefully before staking your tokens.

7. How to stake GoMining tokens

You should have an Ethereum or BNB Chain wallet to open a staking position. Your wallet has to support Wallet Connect protocol or be connected to the MetaMask extension for Google Chrome browser.
We also recommend creating a GoMining account if you don't already have one. You can connect to the smart contract methods directly, but we strongly advise against doing so unless you are 100% sure that you will do so correctly.
GoMining personal account will take you through all the steps to successfully open a staking position quickly and effortlessly.
Please note, that for the flexible staking with a floating APR and daily rewards in BTC, you has to create a GoMining account, as well as linking a GMT wallet (to open a staking position) and a BTC wallet (to receive daily rewards).

Step 1

Log in to your GoMining personal account and go to the GoMining Staking section.

Step 2

Choose the staking type that works best for you: fixed or flexible staking.

Step 3

Connect your wallet, from which you want to open a staking position, via MetaMask or Wallet Connect. After you click Connect Wallet, click Confirm in your wallet.

Step 4

Choose preferred network: Ethereum (ERC20) or BNB Chain (BEP20) to stake your tokens. Click Switch Network in the message in your wallet if necessary.
If the network was automatically selected and it doesn't suit you, here's how you can change it.
  1. 1.
    Open the MetaMask wallet in your browser.
  2. 2.
    Click on your current network at the top of the wallet.
  3. 3.
    Select the preffered network: Ethereum Mainnet (ERC20) or Binance Smart Chain (BEP20). The MetaMask network change will happen immediately.
  1. 1.
    Open the WalletConnect app and go to the settings section.
  2. 2.
    Click on the GoMining website connection and then disconnect it.
  3. 3.
    Go through all the staking steps again. When you connect your wallet (step 3 in these instructions), just select another preffered network: Ethereum or BNB Smart Chain.

Step 5

At this step, we check if there are enough GoMining tokens in your wallet to open a staking position.
If there are not enough tokens in your wallet, you can always top it up in the Buy GMT section in your personal account or on various crypto exchanges. You can find a full list of available ways to buy tokens here.

Step 6

Enter the amount of GoMining tokens you want to use to open a staking position and click the check mark to confirm it.

Step 7

Click the Stake button, and then your wallet will activate the smart contract method to open a staking position. Confirm the transaction.

8. How to unstake GoMining tokens

In the GMT Staking section at the bottom of the page there is a history of all your stakings. Here you can find the amount of guaranteed rewards for the fixed stakings and the amount of received rewards for the flexible stakings.
You can unstake your tokens after the end of the stacking term.
To unstake tokens, click the Unstake button opposite the staking position you want to close.
Connect your wallet, and then confirm the withdrawal transaction from the stacking smart contract in your wallet.
Note that any positions that are not closed after the end of the staking period will not bring in additional rewards.
If you want to restake your tokens, you need to choose the type of staking and go through all the steps again.