veGOMINING & Locks
Last updated
Last updated
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
veGOMINING rewardscome from the Burn & Mint mechanism. In every cycle, 20% of newly minted tokens are allocated as rewards for veGOMINING holders.
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.
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:
Go to the My lock section.
Choose the wallet type: Ethereum or GOMINING virtual wallet.
For Ethereum wallets, connect your wallet via MetaMask or WalletConnect
Enter the amount of tokens to lock or the number of votes you want to receive.
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.
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.
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.
You can find your votes in the My lock section. All your vote statistics are also available there, like reward balance and history, upgrade history, vote chart, and time until the lock ends.
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.
To get more votes during the lock and receive more rewards, you can upgrade the lock. There two ways to do so, either lock more tokens or extend the lock period.
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
Enter extra lock amount — how many tokens you want to lock in addition to the current amount.
Check the amount of votes you'll get and your new voting power.
Click upgrade. The amount of tokens entered will be locked and your extra votes will appear in the vote balance.
Period
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.
Check the amount of votes you'll get and your new voting power.
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.
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