Trade-driven Mining Upgrade: Lock CET for HIGHER mining yield
Dear CoinEx users:
Since July 1st, 2018 (UTC), our new feature “Trade-driven Mining” has received popularity and good reviews among global users. As more traders join, the current mining difficulty can no longer meet the growing demand of most users.
To guarantee the ongoing of Trade-driven Mining, we will make the following adjustments:
From 0:00 July 12th, 2018 (UTC), the definition of Mining Difficulty will be modified from “The upper limit of CET for hourly mining yield per account” to “The upper limit of every share of locked CET (10,000 CET per share) for hourly mining yield per account”. The more CET you lock, the more CET reward you can mine in Trade-driven Mining.
Your difficulty = Your Locked CET / 10,000 * Basic difficulty
* To balance daily CET yield, CoinEx will readjust “Basic difficulty" at 0:00 (UTC) everyday based on earnings and difficulty of the last day.
E.g. The basic difficulty is 100 CET per share per hour and the amount of your locked CET is 1,000,000.
In this case, YOUR difficulty = 1,000,000/10,000*100 CET/hour=10,000 CET/Hour
Mining Rules (2018.7.10)
1. Qualification: For ID verified accounts with AT LEAST 10,000 locked CET ONLY; Transactions that use CET as fees are excluded in trade-driven mining.
2. Lock CET: Users can lock CET at any time. Once locked, your Difficulty will be adjusted and come into effect in the next hour.
3. Unlock CET: Users can unlock CET at any time. Once unlocked, your CET will be released back to your account in 24 hours while your Difficulty will be adjusted and come into effect in the next hour.
4. The lower limit for locking or unlocking CET is 10,000 CET and the amount must be an integral multiple of 10,000 CET.
5. Locked CET is qualified for dividend allocation.
Updated rules (2018.7.11)
1. Initial basic difficulty: 25 CET/Hour;
2. Lock CET: Users can lock CET at any time. Once locked, your Difficulty will be adjusted and come into effect immediately.
3. Unlock CET: Users can unlock CET at any time. Once unlocked, your CET will be released back to your account in 24 hours while your Difficulty will be adjusted and come into effect immediately.
4. Allocation of mining yield: Calculated on an hourly basis according to your latest Difficulty.
Take “Unlocking CET” for instance: If you unlock CET at 13:15, your Difficulty will immediately change from 1000 CET/Hour to 100 CET/Hour. Therefore, your mining yield between 13:00 to 14:00 will be calculated and allocated on the basis of 100 CET/Hour.
The above rules will come into effect at 0:00 July 12th, 2018 (UTC).
CoinEx reserves the rights of final explanation of readjusting rules of Trade-driven Mining.
Follow us & Stay tuned