We’ve just introduced an important update to GOMINING’s tokenomics — and now, you get to directly influence how each burn and mint cycle of our deflationary model plays out.
Let’s break it down.
🔐 Locked GOMINING = Voting Power
If you’ve locked GOMINING into veGOMINING, you now have the right to vote on a new recurring question each week.
Remember: every user who locked GOMINING into veGOMINING has the right to vote.
The number of votes and the power of vote* depend on the lock period and the number of tokens locked.
*Power of vote = your share of the total votes cast, and it is determined by:
- The amount of tokens you’ve locked
- The length of your lock
🪙 What’s Changing — and What’s Not
Our core tokenomics model stays the same:
We follow a strict deflationary system where we burn more tokens than we mint. This ensures scarcity, supports long-term value, and reinforces the strength of our mining-backed ecosystem.
What’s new is how we determine the pace of that deflation:
Each week, you vote on how many tokens we burn.
🔥 New Weekly Vote: How Much Gets Burned?
Every GOMINING token used for maintenance enters the Burn & Mint cycle.
Until now, the permanent burn amount was fixed, based on the tokenomics epoch. Now, the community can reduce it — or maintain it — with their vote.
Here’s how it works:
- Each epoch defines the maximum % of tokens to be permanently burned
- 100% YES votes = burn the full amount defined by the epoch
- 0% YES votes = burn nothing
- Any % in between = scale the burn accordingly
Example:
— We are currently in Epoch 5, which has a mint-to-burn coefficient 0.85, where the maximum amount of tokens permanently burned = 15%
— If 66.6% of votes are YES → 66.6% of 15 = 10% burn
— If all votes are NO → 0% burn
— If no one votes → default burn based on tokenomics = 15%
This lets users adjust the pace of token reduction each cycle — without changing the system’s foundation.
📅 Key Date
- May 27: Voting system goes live for the May 27th - June 2nd Burn and Mint cycle
💡 Why We're Doing This
In a market where many tokens have lost over half their value, GOMINING remains steady — thanks to real utility and a carefully constructed economic model.
But we believe in taking it further:By giving you a direct say in how fast supply shrinks, we’re creating a system that balances short-term needs with long-term value.
If you want to get more tokens distributed to the community in the given burn and mint cycle, you can vote ‘NO’, while if you want to maintain the speed of token supply reduction, you can vote ‘YES’. This gives our community more leverage over our ecosystem.
We’re still burning tokens, reducing the total supply week by week. And as supply contracts, each token you hold gains more weight — more value, more purchasing power, and more reward potential.
❓FAQ
— What if no one votes?
If no one votes, we proceed according to the tokenomics protocol and mint 85* tokens, which is the burn rate set by the current epoch.
In Epoch 5, that’s a 15% burn. Which means we permanently burn 15 tokens or 15% of the tokens spent that week — minting only 85 tokens out of every 100.
*Note: The 85% minting rate applies only to the current epoch. This number is subject to change in future epochs.
— What if everyone votes YES?
If all users vote “YES” in the weekly vote, we act according to the tokenomics protocol and mint 85 tokens while permanently burning 15 tokens (15%).
— What if everyone votes NO?
If all users vote “NO” in the weekly vote, we mint 100 tokens back into the system. Which means we permanently burn 0% of the tokens spent that week.
— Where do I vote?
The vote happens on the dedicated Voting page in the GoMining app. You’ll be asked:
“Would you like to permanently burn tokens this week?”Options: YES / NO
— Can I vote if I stake my GOMINING tokens internally in the app?
Yes, you can vote with virtual veGOMINING as well as via your Ethereum wallet.
Thanks to the updated tokenomics, regardless of its schedule or current epoch, users have the option to reduce the permanently burned tokens to 0.
The whole system still functions as described in the GoMining White Paper, aside from the new voting mechanism and the ability to reduce or stop the permanent burning process through a users’ vote.
Start spreading the news, and let the voting begin. ⛏️👾
May 22, 2025
