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:
GOMINING_minted = (1 - V% * (1 - C)) * (GOMINING_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 favor 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 favor, 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 can I vote?
You can vote using veGOMINING votes either from your virtual wallet (custodial) or your Ethereum wallet.
Go to the My lock section and make sure you have veGOMINING votes in your GoMining or Ethereum wallet
Head to the Voting section and connect the wallet that holds your votes
Select the active voting you want to join, choose your preferred option, and click Vote
Key things to know
Voting does not spend your votes; it simply confirms ownership.
Voting rules differ depending on the wallet type:
GoMining wallet When voting, you always use all votes from all locks combined in your GoMining wallet. You can't split votes across different options — all votes go to one choice
Ethereum wallet When voting, you use only the votes from that specific wallet. If you have votes on several Ethereum wallets, you can connect them one by one and vote separately from each — either for different options or the same one
Your vote stays active as long as you have veGOMINING in your wallet and don’t revoke it. If you want to change your choice, simply revoke and vote again.
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