Mining Mechanism

The Ruferium mining mechanism is built on a transparent and decentralized smart contract deployed on the Ethereum mainnet. The contract manages the distribution of Ruferium tokens through a mining process where participants can earn tokens based on their contribution and engagement. This mining process ensures fairness and incentivizes early adopters.

Mining Smart Contract via Etherscan

To start mining, participants must sign the mining contract by paying a fixed fee of 0.1 ETH. This fee is used to support the project's development and sustainability. Once signed, the miner begins accumulating Ruferium tokens at a fixed rate of 0.0000001 tokens per second. This predictable model provides a fair way for miners to earn rewards based on the time they spend in the ecosystem.

The smart contract also includes a bonus mechanism for early miners. The first 3,000 participants receive an additional bonus of 6,000 Ruferium tokens upon initiating mining. This incentive is designed to reward early supporters and help bootstrap the ecosystem.

The mining smart contract includes several important functions, such as:

  • Mine Function: Users can call the mine() function to start mining. This function records the start time and requires a fee of 0.1 ETH. If the participant is among the first 3,000 miners, they will also receive bonus tokens.
  • Get Tokens Mined: The getTokensMined() function allows users to check how many tokens they have accumulated since they started mining. The amount is calculated based on the elapsed time and the fixed mining rate.
  • Withdraw Token: Users can call the withdrawToken() function to withdraw their mined tokens. The tokens are transferred directly to the user's wallet, and the mining start time is reset to allow continued mining.
  • Ownership Transfer: The transferOwnership() function allows the contract owner to transfer ownership to another address, ensuring flexibility in project governance.

The Ruferium mining mechanism is designed with transparency and fairness in mind. All mining activities, including token accumulation and withdrawals, are recorded on-chain, providing full visibility to participants. The smart contract ensures that no central entity controls the distribution, making it a truly decentralized process.

Once the number of miners reaches 50,000, all mining revenues will be transferred to the Ruferium revenue distribution pool. This ensures that the community continues to benefit from the ecosystem's growth, supporting ongoing development and rewarding token holders.

By participating in the Ruferium mining process, users contribute to the growth of the ecosystem while earning rewards. The mining contract not only supports token distribution but also helps in building a sustainable and community-driven platform for decentralized finance and gaming.