Place/Date: - September 1st, 2020 at 8:44 am UTC · 3 min read
Contact: Bmining, Source: Bmining
Bmining, the mining platform originated from the Bithumb family, has officially launched a new DeFi line, bmining.finance, which allows users to participate in DeFi by connecting MetaMask wallets and it is expected to give its users 36% annualized return.
Users can convert ETH into BETH at a 1:1 ratio and stake BETH on the bmining.finance to start earning profits. During the valid staking period, the ETH profits earned per wallet address will be gradually released according to blocks mined. Profits will be distributed in the Profit Pool. BETH can be staked and redeemed (taken out of circulation) at any time, however, non-staking BETH will not generate ETH profits.
Unlike the traditional staking mode in which users are required to stake and receive repayment only at the maturity). In bmining.finance, the principal and its interest payment of the user’s participation are gradually distributed in real-time via new blocks mined.
In the first round of bmining.finance, the total participation is set to be 400 ETH. Other than staking and earning profits, BETH will be applicable to the subsequent line of products and projects. In addition, all bmining.finance contracts are on-chain contracts: the addresses of the Profit Pool and Margin Pool are public, and every Mined Profit transactions can be traced.
Bmining is the Bithumb family’s first cryptocurrency cloud mining platform, providing users with cost-efficient, top-notch quality POW, POS, POC, and other diversified consensus mode mining products. Bmining products cover BTC, ETH, and other selected high-quality cryptocurrency assets. Bmining will gradually introduce customers with a full range of multi-dimensional innovative mining products and cryptocurrency services.
Bmining is a proud member of the Bithumb Family. Bithumb is the oldest and largest cryptocurrency exchange in South Korea and one of the biggest exchanges in the world: its daily trade volume accounts for 75.7% of the bitcoin market in South Korea and 15% of the global bitcoin market, with a collective transaction volume exceeding 1 trillion US dollars, as of a report published in 2019. Under Bithumb Family’s extensive family tree (Bithumb, Bithumb Global, Bithumb SG, trust fund, STO, Bithumb Chain, and 10 other blockchain-related companies), Bmining is the first mining service platform. As the latest and highly anticipated member, Bmining is committed to enriching the Bithumb ecosystem and leveraging the family’s industry expertise to provide the best mining service to users across the full spectrum.