Q1: What is CoinEx Mining?
A1: CoinEx mining is a feature that allows users to generate profits. By locking one or more specified cryptos into CoinEx Mining, you can earn new coins or other trendy assets as additional rewards. Also, the assets for mining can be removed at any time, allowing for flexible asset management while earning extra rewards.
Q2: Who can join CoinEx Mining?
A2: You can join CoinEx mining if you have completed Primary Verification and are not flagged by CoinEx's risk control.
Q3: How are the locked funds stored during mining?
A3: The locked assets will be temporarily frozen in your Spot Account, and they will only be unfrozen when you remove your mining assets or when the mining project ends.
Q4: How are mining rewards calculated?
A4: CoinEx calculates mining rewards hourly, based on the proportion of your locked assets to the total assets locked by all users. Within the last hour before each hourly settlement, snapshots will be taken randomly of both the "balance locked by each user" and the "total balance remaining in the Distributed Pool" multiple times. You can lock assets before the mining starts, and rewards will be automatically settled at the start of each hour after the mining begins. While locked assets can be removed anytime, those that are removed will no longer generate mining rewards.
Mining reward Calculation:
- User’s Locked Amount (Average of the Last Hour) = Sum of N Snapshots in the Last Hour / N
- Total Locked Balance of all mining users (Average of the Last Hour) = Sum of N Snapshots of all mining users over the last 1 hour / N
- Users’ Locked Proportion (Last Hour) = User's Locked Amount (Average of the Last Hour) / Total Locked Balance of all mining users (Average of the Last Hour)
- Users Mining Rewards (Last Hour) = User's Locked Proportion (in the Last Hour) * Total Reward Amount of the Distributed Pool (in the Last Hour)
Q5: When I can claim and transfer mining rewards?
A5: After locking cryptos, the reward shown on the "Mining Homepage" cannot be claimed or transferred to your Spot Account. When the event status is displayed as "Ended", the mining rewards will be distributed to your Spot Account after 1 hour.
Q6: How to distribute mining rewards?
A6: The last settlement time is [Mining end time]. CoinEx will finalize reward settlements one hour after the mining project ends and distribute the rewards to your Spot Account.
Q7: When will the locked assets start generating rewards?
A7: Rewards will start generating from the [Mining start time]. Assets locked before this time will not yield any rewards.
Q8: Are there restrictions on participating in mining project or locking cryptos?
A8: If there are multiple ongoing promotions, you can participate in more than one at the same time. For a promotion that supports multiple cryptos, you can lock more than one cryptos simultaneously.
Q9: Are there any maximum and minimum lock limits?
A9: CoinEx Mining has specific maximum and minimum lock amounts per person. Please refer to the “CoinEx Mining” page for details.
Q10: Why are some "Hourly settlement" rewards missing in mining?
A10: Mining rewards are calculated to Max. 8 decimals. If a user's locked assets is too small relative to the total amount of the Distributed Pool, the mining rewards will not be distributed.
If you have further questions, please click here to submit a ticket, or send an email to contact us: support@coinex.com.
Related Articles