ArbMiner pays 8% Daily. Brand New Miner on Arbitrum
Withdraw Rewards at Any Time. Get in Early.
Recently I wrote about the development of the Arbitrum Network and how excited people were to start building on it and interacting with it.
ArbMiner is the newest miner on the chain that enables you to earn $ARB rewards daily. It launches on Saturday 8 April. 3 people can win $10 each as part of the promotion, get the details at the end of the article.
The miner is set up in the traditional Baked Beans format, so investors who participated in that will find it familiar. If you are brand new to the space then don’t worry as one of the key features of ArbMiner is its user-friendly interface. The dapp is designed to be easy to use, even for users who are new to DeFi ROI platforms. The interface is clean and intuitive, with clear instructions and prompts that guide users through the “mining” process.
ArbMiner launches Sat Apr 8 2023 15:00:00 UTC! Make sure you get in early!
How Does it Work?
First you “buy miners” by depositing $ARB. Remember that your initial deposit is locked and you cannot retrieve it. Once you purchase these miners, they will continue to work for you non-stop, accumulating rewards constantly.
Your daily yield is dependent on the total TVL of the mining pool and your mining strategy (I’ll discuss the strategy later in the article).
You can withdraw your mining rewards at any time of any day, your rewards are not locked.
Something to consider is that the TVL is only supported by users’ deposits and therefore when the TVL reaches zero (i.e. no more money left in the contract) users who haven’t claimed their rewards will be unable to make any withdrawals.
How to Get Started
- Go to the ArbMiner website.
2. Connect your wallet to the dapp. If you’re using Metamask make sure you are on the Arbitrum network.
If you need to add the Arbitrum network just follow these easy steps:
First, open Metamask and click the network dropdown menu.
- Click [Add Network] on the pop-up.
- You’ll need to add the following details on the [Add a network] page that will open. Click [Save] when you’re finished.
Network Name = Arbitrum One
New RPC URL = https://arb1.arbitrum.io/rpc
Chain ID = 42161
Currency Symbol = ETH
Block Explorer URL = https://arbiscan.io/
You will need some $ETH for gas fees (only need a small amount).
3. Approve and Buy your Miners
● Choose how much $ARB you want to invest.
● Your “Mining Rewards” amount (interest earned) is what can be “Compounded” or “Harvested”, which amounts to 8% of your TVL daily.
What’s the Strategy?
This is the team’s suggestions and recommended strategy:
● Compounding for six days and claiming your rewards on the seventh day.
● Compounding multiple times per day (Hyper-Compounding) can increase your TVL (Total Value Locked), which in turn increases your daily mining rewards.
● Harvesting can decrease your TVL, which in turn decreases your daily mining rewards.
● Buy new miners often to increase your TVL and to stay eligible for possible bonus rewards.
Fees and Figures
- The minimum purchase amount is 1 ARB token. (the earlier you buy, the more miners you will get for 1 $ARB as miners get more expensive over time as more investors come in).
- The minimum compound requirement is 0.1 ARB. You will always be charged standard Arbitrum gas fees for every interaction with the contract. Fortunately gas fees are quite cheap on Arbitrum.
- There is a 3% dev fee on all deposits and withdrawals.
- Daily return is up to 8% depending on fluctuations. The average daily return should work out to 6–8%.
Future Plans
ARBMiner has a plan for releasing its own token and airdropping to all early investors of ARBMiner.
Popular Questions that the Team has Addressed:
Do Miners amount decrease when you harvest?
- No, the Miners amount will not change. If you make a new deposit or compound the amount will increase, but not when you harvest (take rewards). The Miners become less efficient over time if you harvest too much.
Is this sustainable?
- Yes, as long as there is TVL in the contract then there will always be rewards. The hungry people who harvest too much get punished over time and will receive lower and lower rewards.
What prevents the devs from rug pull?
- The contract is immutable and fully verified and cannot be changed or altered in any way. No wallets can be blacklisted, and there can be no forcing people to compound. Nothing can be changed. You can view the contract at https://arbiscan.io/address/0x0Df3c77a25d86c3c5F26d1931e81Db0f7d991414
What about Whales taking over the project?
- The contract has an in-built anti-whale mechanism which works as follows: User #1 compounds 6:1 and gets the highest daily percentage in that 24 hour period. User #2 does a 5:2 strategy and gets a
lower percentage. User #3 does a 4:3 strategy and gets lower percentage again. This happens all the way until the user who harvests continually and their rewards will drop to 0.5% per 24 hour period. This is to prevent any single user from draining the TVL.
Conclusion
Overall, ArbMiner is a powerful and user-friendly dapp that makes it easy for users to start earning passive income on the Arbitrum network. With its low fees, real-time statistics, and secure infrastructure, ArbMiner is a great option for users who are looking to optimize their mining operations and maximize their earnings. I will be investing as soon as it launches.
I hope you found this post to be informative. If you liked the story, please give it some claps (up to 50) and leave a comment below. Make sure to follow me on Medium.
How to Win $10 as part of the ArbMiner Promotion.
- Follow Me (Red King) on Twitter and RT this Tweet.
- Follow ArbMiner on Twitter.
- Join my Telegram Group and ArbMiner’s Telegram Group
- Join ArbMiner via any of the links on this page.
(Competition open until Sunday 9 April 8pm)
- You can join my Telegram group here or connect with me on Twitter here.
- Follow me on Medium if you want to read more about cryptocurrency, passive income, play to earn games and yield farming.
- I’m not a financial advisor. This is not a financial advice, whatever you read in my articles are strictly for educational purposes.
- These defi projects are all high risk and high reward, only use risk capital and be careful.
- This has been a sponsored post.
A recent article:
Disclaimer: This is not financial advice, the information in this article is for educational purposes only. Never invest what you can’t afford to lose. I disclaim any liability or loss incurred by any person who acts on the information, ideas, or strategies discussed in my articles. Do Your Own Research.
Originally published at https://redkingcrypto.com.
