At Poolin we are happy to celebrate with our community across the world in welcoming the Year of the Metal Ox; to growth and prosperity!
The Chinese lunar calendar is traditionally known as the farming calendar, and as a cryptocurrency mining pool, we think of ourselves as number farmers. Miners draw electricity from the ground and from the air, from water and the sun to harvest bushels of decentralized transactions.
In celebrating an auspicious new year, consider the launch of Poolin’s latest product, a proof-of-work-based protocol: Mars Project. The Mars protocol consists of two separate, but interlinked token contracts: a standardized bitcoin hashrate token called pBTC35A and the MARS governance token.
A pBTC35A token represents a contract (expressed in its nomenclature) for the rewards on 1 Terahash per second of hosted bitcoin mining, with the latest machines performing at a power efficiency of 35 W/T, and includes the electricity cost of $0.058 per KWh and 2.5% pool operating fee.
Rewards for pBTC35A are issued every minute in Wrapped Bitcoin (wBTC), but investors can also stake their pBTC35A against USDT on two MARS liquidity pools to receive MARS tokens. MARS governance tokens serve to vote on protocol rules such as how to proportion and allocate rewards.
With pBTC35A, the Mars Project diversifies the value of bitcoin’s hash rate as a token contract that can also be staked as collateral to provide liquidity and generate additional yield.
Poolin has issued 100,000 pBTC35A, equivalent to 10 Petahashes per second of mining power, in a first round opening to retail investors, which raised $10 million in January. This month, Poolin released another 100,000 to institutional investors such as Three Arrows capital, Hashkey, Fenbushi, FBG Capital, IOSG, Mindfulness Capital and Ledger Prime.
We are excited to welcome this New Year with our latest innovation bridging mining and decentralized finance. You can find more information by following the Mars Project on Twitter and at mars.poolin.fi.
Poolin ploughed through various shocks, including a market sell-off, a halving, and a record-breaking rainy season. Now, there is a refreshing new wave of interest in our industry that has given miners new opportunities around the world.
Some of Poolin’s most popular mining tools also include profitability calculators to estimate costs and earnings, our Miner Box hardware configurator and monitoring software, Smart Agents to lower network bandwidth, and the transaction accelerator, which helps users process their transactions, especially during usage peaks when the mempool is congested. We redesigned our website and streamlined our live dashboard to provide efficient real time network diagnostic information, a new block explorer, and a ready hardware comparison table.
The new Poolin Wallet, launched last year also integrates with our mining pool to offer a suite of financial products such as custody, trading pairs, flexible and locked interest bearing accounts, collateralized loans, and DeFi yield farming instruments. Poolin also awards Loyalty Bonus returns on crypto held on the Poolin Wallet.
We also launched Poolin Data Center where anyone with a low barrier to entry can participate in standardized mining by purchasing a mining rig and start earning using Poolin’s state-of-the-art mining expertise along with our built-out hardware, electrical, and network infrastructure. Poolin’s Data Center also offers deep mining hardware analysis through Miner Lab, hosting through data centers in Sichuan & Inner Mongolia — and design and construction services for new mining farms.
We invite you to review the diversity of our product offerings, and may this year of the Ox generate newfound courage and fortune. Consider Poolin your go-to resource for bitcoin & cryptocurrency mining. 🐂