PROGRESSIVE DISCOUNT UPDATE

Hi GoMiners,

There has been active discussion about the new progressive discount implemented lately. Below are our considerations about the discount and changes we will apply based on the discussion and initial results.

Our team fully supported community proposal to reward with an additional discount those participants who hold more tokens and, accordingly, develop the ecosystem more. Importantly, we liked its non-discriminatory nature for smaller farm owners. We put the idea to a vote as is, and are happy that the community voted in its favor.

Unfortunately, we cannot keep the old discount and simply add a new one. The base price for electricity for GoMiners is calculated from the level of $0.05/kWh, and discounts are deducted from it. This price is already significantly lower than hosting prices around the world. We have not been raising the electricity price for you since April 2023, while the average global price of electricity has been growing from year to year.

With this change, we do not plan to increase the weighted average cost of electricity net of all discounts for the community but to redistribute the discount among participants who are ready to support our ecosystem. We believe that this is a fair and right step towards the growth of the project's ecosystem. This step also allowed us to bring back the reinvest function so those who want to support us can accumulate tokens.

We are closely monitoring the numbers, and they indicate a good response from many of you. Still, there are a few changes that we would like to make to further balance the system:

1. On September 9th we decrease the step in days for 1% discount from 25 to 18. So, the max discount will be achieved with 360 days of tokens on the balance;
2. We will add tokens locked in VE to the balance of tokens on your virtual wallets when calculating the discount. We have already started working on it and announce the implementation date soon;
3. On September 9th we will decrease the commission for in-app token purchases to 2% for those who don't buy tokens on the market.

As always, we value your support, listen to your opinion, and work for you.

Best, 
Mark Zalan, CEO