The Gomining community distributes rewards via weekly voting, which requires locking Gomining tokens into a vote-escrow contract (veGMT) to receive votes.

Liquid Bitcoin Hasrate NFTs are issued by Service Providers using Gomining. The requirements for Service Providers include: (1)to have public hashrate proof in known BTC mining pools (2) membership in reputable mining organizations such as the [Bitcoin Mining Council](https://bitcoinminingcouncil.com/). In the future, Gomining aims to launch its own BTC mining pool and require Service Providers to use it for even more transparency.

The design of GoMining token combines a Discount token, a modified version of the burn and mint equilibrium (BME) [[2]](https://messari.io/report/burn-and-mint-equilibrium) [[3]](https://multicoin.capital/2018/02/13/new-models-utility-tokens/), and ve Token (voter escrowed) governance model [[4]](https://www.hashkey.com/en/insights/vetoken-model-and-its-impact). The GOMINING token has the following functions within the Gomining ecosystem: Discount token for electricity payments. NFT hashrate owners are required to pay electricity and maintenance costs, which are deducted from BTC mining revenue. By using the Gomining token for power/maintenance payments, users receive a 10% discount and continuously mine more bitcoins. Protocol governance. Users participating in Gomining governance can vote on proposals, influence protocol management, and most importantly - Gomining rewards distribution to the community of NFT owners and GameFi activities. Participation in governance requires locking tokens into a veGMT contract, which works identically to the well-known veCRV (vote-escrowed Curve contract). Users who lock Gomining tokens in a vote-escrow (ve) contract receive (1) votes and (2) stake rewards. The longer the lock, the greater the number of votes and shares in the reward distribution for a given number of locked Gomining tokens. In addition to the Discount Token Utility and Governance Utility, token holders can upgrade the hashrate and energy efficiency of their Liquid Bitcoin Hashrate positions using Gomining tokens.

GoMining is a Liquid Bitcoin Hashrate protocol.  Gomining allows users to own Bitcoin hashrate digitally as an NFT asset on the Ethereum/BNB chains and the Bitcoin blockchain (ordinals) without the necessity to own or maintain their physical mining infrastructure. It simplifies Bitcoin mining for millions of users and unlocks the huge potential of Bitcoin hashrate to be used as RWA (Real World Asset) in Defi. The hashrate NFT position continuously generates Bitcoins and can be traded or used as collateral in Defi like any other asset. To make this possible, Gomining created and developed the Liquid Bitcoin Hashrate (LBH) concept: while the physical mining equipment and the corresponding hashrate operate in the data center, the user owns an NFT that represents the hashrate position. The LBH tokens can be used in Defi like Ethereum-based LSTs (liquid staking tokens) : they generate income on behalf of their owner, can be traded, and can be used in Defi protocols for borrowing/lending purposes. For example, LBH tokens can be used as collateral for borrowing stablecoins for farming strategies and providing additional income to the LBH token owner. In addition to using NFTs for bitcoin mining or Defi-related activities, NFT owners can participate in play-to-earn mechanics that enrich the NFT-based mining experience, engage the community, and provide additional income to NFT owners. Gomining actively develops GameFi elements that allow users to generate additional income in NFTs on top of primary BTC mining proceeds.