Mining in minereum is performed on the fly with a mathematical formula, no mining equipment is required.
Here the major points about Minereum self-mining:
- Mining can only be done by Genesis Addresses
- Mining only starts after Level 2 or Level 3 activation (Level 1 Genesis Addresses Cannot mine)
- The number of coins mined are 0.000150 MNEP per POLYGON block per active Genesis Address.
- There are Aprox. 28,600 POLYGON blocks mined per day, making the total generated coins per active Genesis Address per day of around 4.29 MNEP.
- The self-mining process will last for 2,000,000,000 blocks after activation to Level 2 or Level 3.
- The Genesis Addresses can be traded at any time in the Minereum POLYGON Genesis DEX, this allows users to trade their coins as a whole, not divisable units.
- The Divisible Transferable Supply (Circulating Supply), can be aproximately calculated using this formula: [Initial Normal Balances] + ([Total Addresses Activated to Level 3] * [Mining Reward Per Block] * [POLYGON Blocks Per Day] * [Days passed since V2 launch]) - Burned coins. This value can be seen in the stats page of the Web3 platform.