About MING

MING is a mining protocol. Every 60 seconds a round opens on a grid of 25 tiles. Miners deploy BNB on the tiles they choose, one amount per tile, and when the round closes one tile is drawn from a verifiable randomness source. The miners on the drawn tile receive that round's output: the BNB the whole grid deployed, less the protocol fee, shared in proportion to what each of them put on the tile, and 1 MING from the reward reserve.

That is the whole protocol. There is no hidden level, no multiplier and no house account mining against you. Every tile has the same 1 in 25 chance every round, whatever anyone puts on it.

What is mined

Two things come out of every round. BNB, which is what the grid deployed that round less the fees, and MING, the protocol's token. 3,000,000 MING were minted once, at launch, and no more will ever be minted. Half of them, 1,500,000, sit in a reward reserve that pays 1 MING to the drawn tile every round. MING you mine arrives unrefined and can be refined into your wallet at any time.

Where the fee goes

The protocol fee is 10% of every round. 9% buys MING on the open market, of which 95% is burned and 5% goes to the people staking MING. The other 1% buys XAUT, Tether Gold, into the goldpot, which pays out to the drawn tile one round in 250. A further 1% is the admin fee.

In the light

Every deployment, every draw and every payout is recorded on a public chain, and the draw comes from a randomness source nobody can steer, including the people who run this site. The fees are stated on the page where you mine, the odds are stated beside them, and the risks are stated in plain words at the end of this section.

Most rounds pay nothing to most miners. We would rather you knew that before your first tile than after it.

Who runs it

A small team that does not hold your funds and cannot move them. The contracts hold every balance; this site shows their state and prepares transactions for your wallet to sign. What the operator can and cannot do is written down under Risks.