Update v1.5.0: Miners utility
The last update was just released and we already have another one to deliver to you! The miners have been a new trend recently on the BSC, and we decided to provide a nice utility page for you Miners lovers!
Now that you have seen this screenshot, you are either a Miners addict and already very excited, or wondering “what the hell is this?”
What are miners?
First off, the term “miner” is a bit confusing as there is no mining involved in these contracts. The concept is simple: you deposit tokens in order to hire imaginary miners that will mine tokens for you forever (you cannot sell them back). You earn interest based on the value of your miners. Websites advertise “Earn 5% daily” but it’s not really 5% of what you deposited as it depends on the current value of your miners and it changes all the time as people buy or sell.
- You deposit tokens in the contract to hire miners
- The miners “mine” eggs/tokens, which accumulate in your name in the contract
- At any time you can decide to either compound or sell what you have mined
- Compounding/hiring more miners is using what you mined to get more miners
- Selling/pocketing is taking what you mined out of the contract to your wallet
Risks and rewards
If you invest in miners you will end up using and connecting to a lot of sketchy websites that could one day try to take advantage of your dozens of Metamask clicks and steal your funds. The point of Moonarch Miners page is to make it easier to compound/sell every day, but also to remove the risk of using those websites. All contracts made accessible on the app have been vetted to check if they contained malicious code, but we could always have missed something: DYOR!
On the finance side, Miners are inherently a risky investment as things can go bad depending on the behavior of the investors. If too many people sell instead of compounding then the contract balance can quickly deplete without new users bringing new funds, turning it in a ponzi scheme. Generally speaking, you should try to invest in new contracts that show promise, where you are almost sure to get your investment back, or in older contracts that have a large balance that ensures it will go on for a few weeks/months. If you happen to enter a contract that lasts in time, balancing compounding and selling can make it a very profitable investment as you will be earning tokens for months.
Moonarch utility page
If you already are in several miners, you probably are tired of going to every one of them every day to compound or sell. Moonarch makes it much easier and complete now by displaying ALL known miners in a single page with:
- Miner name, token, url, telegram
- Contract balance
- Your current balance (what you can compound or sell)
- An estimation of your daily gains on each miner (coming very soon)
- Buttons to Buy / Compound / Sell directly from Moonarch!
- All columns are sortable
No more visiting unknown websites for your daily compounding, just go to https://moonarch.app/miners and access all your miners! Who knows, you might even discover one that you forgot about…
