Egold Farm: The First Mining Ecosystem Constructed on the Metaverse
EGold Farm — Online program that lets users simulate gold mining in a 3D environment with a lot of space. The app runs on the Ethereum blockchain, and its value is guaranteed by digital tokens. Users can get their own EGold tokens and join in on the fun by buying them from the EGoldFarm store with Bitcoin or Ether.
Clicking on a mining tool from the selection available on the store will load it up in your inventory. From there, you can deposit it into your mining area where it will automatically start generating currency for you. At first, it will be very slow, but as time goes by, it will speed up exponentially until eventually reaching its full potential, at which time its growth rate will level off to a steady pace.
egold farm virtual reality game that makes use of blockchain technology to reward its players for playing the game and exploring the virtual world. This is an innovative concept, considering that there have not been many VR games in the market yet, and most of them are not really using the potentials of blockchain to bring something new to their players. Egold Farm uses avatars as representations of real people who will be playing in this virtual world, and they can be customized according to the wishes of their players. Egold Farm encourages players to explore the world in search of different types of mining machines, which they can then use to mine eGold coins, a cryptocurrency that can be used by players within the game. Once the player has acquired enough eGold coins, he or she may purchase land with them and build a farm on it. The more land you have, the more money you can make from your farm!
EGoldFarm’s interface allows for simple management of your account:
- Your earnings are displayed at the top left corner along with an option to withdraw them into your Ethereum wallet
- The top right corner has a display showing your balance and a link to help with any issues or queries you may have
- The bottom right corner has links to social media accounts such as Twitter and Facebook, so you can share your success with friends and family
Now that our technology is so advanced, we do almost everything online. When it comes to crypto mining, we at Egold think the same thing should apply. To do this, we have developed Egold, a metaverse mining platform. In order to facilitate the mining of Egold in the metaverse, we have developed EGold Miners that users can acquire as NFT.
The steps are straightforward: acquire a miner, mine some E-Gold, receive your earnings, and then sell them. We’ve made a simple software specifically for this purpose, and it’s all you need to get started.
The egold metaverse platform will expand its offers and accept egold as payment as the community expands, with egold being the dominant currency for transacting inside the ecosystem.
Metaverse egold is mined via virtual mining machines known as egold miners. These machines use a system for mining egold that is entirely unique and custom-built for the egold environment.
The software is designed to act similarly to real-world mining equipment. The machines are given characteristics like electricity cost and miner depreciation.
Egold Supply & Distribution
Maximum Supply — 21,000,000
Halving Cycle- Every 4 years
Total Mining Period — 80 Years
Available for Mining — 20,000,000
Egold — Busd Liquidity Farming — 180,000 over 10 years
Egold — Tag Liquidity Farming — 120,000 over 10 years
Development Fund — 600,000
Team — 85,000
Trading Liquidity — 15,000
Egold mining machine by Egold Farm?
Meta Fuel cost
How does Egold Farm’s mining machine function?
Hash power is the backbone of the Egold miner. A greater hash rate increases a miner’s proportion of mining rewards. When a new mining difficulty is found, all miners’ purchased hash power is pooled together.
If the number of egold available every block is 100 and the number of meta hashes being used is likewise 100, then the reward for each miner will be 1 egold.
However, if the meta hash deployment is 200 and the egold supply each block is 100, then miners will earn 0.50 egold per hash.
To put it another way, the amount of egold collected per meta hash will decrease as more miners join the network and use more meta hash power.
Your mining output is also affected by things like electricity cost, claim tax, and warehousing tax, all of which are detailed below.
So, tell me again, what exactly is Hash Power Egold Farm?
Hash power is the mining power or strength of a particular mining machine. It is used to calculate total mining deployed to mine egold.
Why is Hash Power needed?
Hash Power is needed to calculate total power deployed to mine egold by an individual miner as well as all miners collectively.
How much hash power do I need?
It is subjective as your hash power is competing against hash power deployed by other miners. Your hash power represents your share in mining of egold.
How much hash power can I own?
There is no restriction on how much hash power you can deploy.
Does hash power guarantee fixed egold production?
Egold you mine depends upon your share of mining compared to mining deployed by other miners. Production of egold may vary over time.
What is Meta Fuel Egold Farm?
Meta Fuel is mining fee miners must pay in order to claim their egold.
How much Meta Fuel Fee must miners pay?
Miners will be charged 50% of their earnings as Meta Fuel fee. Example if you mined 100 egold then you will pay fee of 50 egold as Meta Fuel fee. If your mining yield drops so will the fee. Example if you produced 1 egold then Meta Fuel fee will 0.5 egold.
When do I pay the Meta Fuel fee?
You will have to pay Meta Fuel fee every time you decide to claim egold.
What happens with the Meta Fuel fee I paid?
All Meta Fuel fee collected by the system or contract is auto burnt. Meaning egold collect as fee is always destroyed.
Claims Egold Farm?
Physical miners depreciate in value over time as they are used to mine various cryptocurrencies. To mimic this feature egold has implemented limited claim function.
How many claims can an individual miner make?
Each miner can make up to 10 claims, post which they will be deactivated.
How much time do miners have to use 10 claims?
There is no time limit as to when a miner can use their 10 claims. It can be used anytime over the lifetime of the machine. The restriction is limited to count not time.
Egold Farm Depreciation?
Depreciation is reduction of egold production users need to bare every time they claim egold.
Do I have to depreciation or is it deducted?
Unlike meta fuel fee which user must pay to claim egold depreciation is auto deducted from users own mined egold coins.
What happens to depreciation amount collected by the system?
All depreciation amount collected is burnt or destroyed by the smart contract automatically.
How much depreciation do my mining machines incur on each claim?
Depreciation is set at 5% meaning every claim that you make with your miner 5% depreciation is added to your machine. Below is table showing claim tax applicable on each claim.
Egold Farm warehouse tax?
Warehouse tax is fee charged to miners for hosting their Gold Miner machines in the metaverse.
What is warehouse tax rate?
Warehouse tax rate is 1%. Meaning you will be charged 1% on total egold mined. Example if you mined 100 egold then warehouse tax would be 1 egold.
What happens with the warehouse tax collected?
All Tax collected is burnt or destroyed by the system.
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