For those who don't know what is wKOIN: https://peakd.com/koinos/@harpagon/introducing-wkoin-koin-erc-20-on-hive-engine
The mining rules are simple:
- delegate Hive Power (HP) to @miner.wkoin
- every 15 minutes a delegator is picked randomly based on the HP delegated, the more HP delegated, the more chances you have to win the round
- the winner receives wKOIN tokens
- rinse and repeat for 6 months
Some more info:
- Mining starts tomorrow, October 27 at around 6:00 PM GMT. It will end in a bit less than 6 months.
- The mining pool is held by the @miner.wkoin account, I've just loaded it with 10,000 wKOIN.
- Part of the rewards generated via the delegated HP will be used to buy more wKOIN, so the total of wKOIN to mine will be potentially higher than 10,000 wKOIN.
- The number of tokens allocated to a round is calculated based on the number of tokens held by @miner.wkoin and the number of rounds left until the mining ends.
- this mining is "free" in a sense that you don't have to invest any more money than you already have by buying Hive
Can you describe how much "part of the rewards generated" means in percentage terms? I wouldn't mind delegating more if I knew it would result in a meaningful increase to the potential mining power of the account.
To be honest I'm not quite sure yet, it will depend on the number of delegations, the rewards and the fees I have to cover.
I give it a try :)
Thats actually a pretty innovative concept. 10000 wkoin pool seems kind of small though. I guess this is meant more for small-time hive holders, eh?
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Sure why not... this definitely beats ETH fees. Now I just got to beat everyone else who feels the same ;P