FinNexus Blog

FinNexus Blog

Key Takeaways from FinNexus’ New Mining Mechanism

Michele PennaJanuary 21st 2021

The new mining and staking mechanism that is going online in January 2021 has been designed with multiple goals in mind, ranging from providing our investors with higher rewards to adding liquidity for traders and fostering a stable, sustainable ecosystem.

At the heart of the mechanism lies the possibility of mining FNX and USDC (USDT is added in the new model) in pairs, something that will allow users to enjoy a 20x multiplier when mining and a further 16x in staking, for a grand total of 320x.

This, in turn, will incentivize DeFi enthusiasts to join in and stay over the long term, providing a solid base for growth.

But it is not simply higher returns and a short term boost that the new mining mechanism is designed to generate.

Rewarding the joint mining of FNX and USDC is meant as a precaution to avoid the dumping of our token, thus creating a suitable environment for long-term development and value creation.