gomining-ai GoMining Tokenomics
The Tokenomics module governs the GMT token ecosystem including token locking (Lock), voting (Voting), and the deflationary Burn & Mint mechanism.
Overview
GoMining Tokenomics is built around three interconnected systems that work together to manage the GMT token supply, incentivize long-term holding, and enable community governance:
| System | Purpose | Key Mechanism |
|---|---|---|
| Lock | Incentivize long-term holding | Lock GMT to receive vote-escrowed (VE) tokens |
| Voting | Community governance | VE holders vote on reward distribution and burn rate |
| Burn & Mint | Deflationary supply management | Daily burns from user spending, controlled re-minting |
Smart Contracts
- GMT Contract: Initial supply of 500M tokens, manages token issuance across the ecosystem.
- VEGoMining (VE) Contracts: Issue vote-escrowed tokens when users lock GMT. Voting power is proportional to VE token quantity.
Long-term Goals
- Reduce total supply from 500M to 100M tokens over time.
- Two vectors to achieve this:
- Gradual token reduction through systematic burns.
- Increase token utility to drive demand and usage.
Token Types
GoMining supports both on-chain token locking (via smart contracts) and a streamlined in-app locking flow for a faster user experience. Both methods maintain parity with the on-chain state.
Token Utility
- Electricity discount for mining operations.
- Game boosts for enhanced gameplay rewards.
- Reinvestment into hashrate for increased mining power.
- Voting and locked-token bonuses for governance participants.
Reference Files
| File | Contents |
|---|---|
| LOCK-AND-VOTE.md | Locking mechanism, veGOMINING tokens, voting systems |
| BURN-AND-MINT.md | Burn/mint mechanics, epochs, post-mint distribution |
References
- FAQ: Tokenomics Overview — Overview of GoMining tokenomics mechanics
- FAQ: Burn & Mint Cycles — How weekly burn and mint cycles work
- FAQ: Epochs — What epochs are and how they affect the mint coefficient
- FAQ: veGOMINING and Locks — How to lock GOMINING tokens to receive veGOMINING votes
- FAQ: Voting — How veGOMINING holders participate in governance voting