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On this page
  • 1. What is veGOMINING?
  • 2. Where do veGOMINING rewards come from?
  • 3. How are veGOMINING rewards distributed?
  • 4. How to get veGOMINING votes?
  • 5. Where can I find my veGOMINING votes?
  • 6. What happens to my veGOMINING votes over time?
  • 7. How to upgrade my lock and get more votes?
  • 8. How to withdraw my rewards?
  1. FAQ
  2. Tokenomics

veGOMINING & Locks

PreviousBurn & Mint cyclesNextVoting

Last updated 1 day ago

Terms & Conditions

General 1.1. These terms govern the veGOMINING system, including token locking, votes, and rewards. By locking GOMINING tokens, users agree to follow these rules. 1.2. veGOMINING is part of GoMining tokenomics, allowing users to earn rewards, participate in governance, and boost their VIP status.

Locking Tokens & Votes 2.1. Users receive veGOMINING votes by locking GOMINING tokens for 1 week to 4 years. 2.2. Each wallet can have only one active lock, and locks are stored separately per wallet. 2.3. Locked tokens cannot be withdrawn until the lock period ends. 2.4. Users can lock tokens using an Ethereum-compatible wallet (e.g., MetaMask) or a GoMining virtual wallet. Ethereum wallet locks require ETH for fees, while virtual wallet locks have no fees. 2.5. All locked tokens count towards the Token Discount on miner maintenance, helping reduce costs.

Rewards 3.1. Rewards are distributed weekly based on the number of veGOMINING votes. 3.2. Ethereum wallet locks: Rewards must be claimed manually, but auto-claim can be enabled. Claimed rewards go to the GoMining virtual wallet. 3.3. Virtual wallet locks: Rewards are automatically sent to the same wallet without fees.

Vote Decay & Lock Upgrades 4.1. veGOMINING votes gradually decrease over time as part of the system’s tokenomics. The decrease happens weekly and continues until votes reach zero. 4.2. Users can extend their lock or add more tokens to increase votes at any time. Locks can be upgraded multiple times, but the total period cannot exceed 4 years.

Governance & VIP Program 5.1. Only votes stored on Ethereum wallets can be used for governance. Virtual wallet votes do not grant voting rights. 5.2. veGOMINING votes also boost VIP status, providing access to exclusive benefits. VIP status considers all votes across all wallets, but votes are stored separately on each wallet.

Liability & Disclaimers 6.1. GoMining does not guarantee fixed returns or profits from veGOMINING. 6.2. Users are responsible for managing their locks and following the rules. 6.3. GoMining may update these Terms & Conditions at any time with prior notice.

1. What is veGOMINING?

veGOMINING votes are a key part of GoMining’s tokenomics. They allow you to:

  • Get rewards in GOMINING tokens

  • Participate in voting on governance decision

  • Increase your to unlock exclusive benefits. All votes from your Ethereum wallets and GOMINING virtual wallet count toward your VIP status

2. Where do veGOMINING rewards come from?

veGOMINING rewardscome from the mechanism. In every cycle, 20% of newly minted tokens are allocated as rewards for veGOMINING holders.

3. How are veGOMINING rewards distributed?

Rewards are distributed every Tuesday as part of the Burn & Mint cycle. The amount you receive depends on how many veGOMINING votes you hold compared to the total votes in the system (your voting power). The more votes you have, the bigger your share of the reward pool.

All rewards are credited in GOMINING tokens and sent to your GoMining virtual wallet (custodial), no matter if you locked tokens through an Ethereum wallet or a virtual wallet.

4. How to get veGOMINING votes?

To get votes, you need to lock GOMINING tokens for 1 week to 4 years — the exact period is up to you. The longer the lock, the more votes you receive.

You have two options for locking tokens:

✅ Ethereum wallet (MetaMask, WalletConnect)

  • Gives access to governance voting

  • Requires ETH to cover network fees

  • Rewards must be claimed manually, but you can enable auto-claim to receive them automatically

✅ GOMINING virtual wallet (custodial)

  • No blockchain confirmations needed

  • No network fees — instant lock and rewards

  • Rewards are automatically sent to your virtual wallet every week

Keep in mind that each wallet stores its locks separately, and you can have only one active lock per wallet.


How to lock tokens and get votes:

To lock tokens:

  1. Choose the wallet type: Ethereum or GOMINING virtual wallet.

  2. For Ethereum wallets, connect your wallet via MetaMask or WalletConnect

  3. Enter the amount of tokens to lock or the number of votes you want to receive.

  4. Select the lock duration (1 week to 4 years). The longer the period, the more votes you'll get. As the lock period is measured in weeks, you can choose only specific dates on the calendar.

  5. For Ethereum wallets, approve the transaction and confirm the lock. This is an approval to transfer and lock your tokens on the veGOMINING smart contract.

  6. For GOMINING virtual wallets, just confirm the lock — no additional steps needed.

Done! Your votes will appear in the My lock section. You can upgrade your lock at any time by adding more tokens or extending the lock duration.

Tokens can't be unlocked before the end of the lock period.

5. Where can I find my veGOMINING votes?

6. What happens to my veGOMINING votes over time?

From the beginning to the end of your lock, the amount of your veGOMINING votes will decrease — this is part of the Tokenomics logic. It helps to:

  • Maintain the value of votes

  • Keep a high reward per vote

  • Ensure fair competition among vote holders

The votes of each holder decrease equally each week as part of the Burn & Mint cycle. The exact decrease amount depends on how many tokens were locked and the initial lock duration. This process continues until the lock period ends, and the vote balance reaches zero.

7. How to upgrade my lock and get more votes?

You can increase your votes anytime by locking more tokens or extending the lock period.

To upgrade, go to My lock and click on the "+" icon. You can upgrade your lock unlimited times.

Amount

  1. Enter extra lock amount — how many tokens you want to lock in addition to the current amount.

  2. Check the amount of votes you'll get and your new voting power.

  3. Click upgrade. The amount of tokens entered will be locked and your extra votes will appear in the vote balance.

Period

  1. Choose a new lock end date or the period you want to extend the lock .

Maximum period: 4 years from today. Example: If you locked tokens for 4 years and 6 months have passed, you can extend the lock by a maximum of 6 months.

  1. Check the amount of votes you'll get and your new voting power.

  2. Click upgrade. Your extra votes will appear in the vote balance.

The entire history of your upgrades is available in the My lock section by the History button.

8. How to withdraw my rewards?

Your rewards depend on how you locked your tokens:

  • If you locked tokens via an Ethereum wallet:

    • You must claim rewards manually in the My lock section. Alternatively, enable auto-claim to receive rewards every Tuesday

    • Rewards are always sent to your GOMINING virtual wallet

  • If you locked tokens via a GOMINING virtual wallet (custodial):

    • Every Tuesday, rewards are sent automatically to the same virtual wallet — no manual claiming needed

Go to the section.

You can find your votes in the section. All your vote statistics are also available there, like reward balance and history, upgrade history, vote chart, and time until the lock ends.

To get more votes during the lock and receive more rewards, you can the lock. There two ways to do so, either lock more tokens or extend the lock period.

My lock
My lock
upgrade
Burn & Mint
VIP status