we hosted an amazing AMA with CoolMining on the 4th March
And here we will put some of the best questions:
Q1: can you Briefly introduce your game and your team?
Hi all. I’m glad to be here and introduce you about our exciting project – CoolMining.
To answer the question:
CoolMining is an on-chain simulation game based on real-life hash power. All hashrate corresponds to real-world hashrate.
It is the first Gamefi project with NFTs backed by real life assets.
Players can participate as stakers, miners and mining site owners to savor the joy of creation.
About our team:
Our team is a group of early BTC adopters with backgrounds in BTC mining, solidity development and graphic design.
As we share a common faith in the Proof-of-Work and witnessing the evolvement of Dapps over the years, we are inspired to combine these two exciting innovations and create a decentralised game so that all individuals are able to participate in BTC mining.
Q2: Can you share more of your gameplay mechanism?
About the gameplay:
So in general, there are currently two ways to enjoy CoolMining after we officially launch the game.
- Staking through mining pool. Put CoolHash, the hashrate token, into the mining pool to “connect” to the BTC network and start earning BTC rewards.
This game play is already live and we’re distributing BTC rewards everyday!
- Mining using miner NFTs. Players need to collect miner accessories first to customise miners.
The miners help to accelerate mining by adding hashrate bonus, which will translate into higher BTC rewards for players.
The Miners NFTs will hit the market pretty soon, we’re about to launch the Miners gameplay soon.
All of our gaming mechanism is realised on-chain through smart contracts. Our techs have been working so hard to achieve this.
Also, just to mention, our contracts have been audited by Certik. 😁
Well we actually have other gameplay mechanism such as playing as the mining host which is under development now.
We’ll keep on working to deliver more interesting things in the game!
Q3: Where does the BTC rewards coming from?
This is really important and it’s actually the most frequently asked question in our community.
As I mentioned in the introduction, we are using real world hashrate to back the hash power in our ecosystem.
Along with some of our founding members, we have been running our own mining business since 2017.
And till now, majority of our hashrate comes from industry-leading mining sites located in North America, Russia and Central Asia.
So that’s basically where the real hates are from.
If you get a chance to check out our roadmap and docs. For Phase one, we have secured 100 PH/s hashrate to support the 10,000,000 CoolHash we distribute.
This means, every 10 minutes, these real world hashrate are generating BTC as block rewards, which will be distributed to players.
And to ensure a stable and continuous BTC rewards delivery, we actually have excess hash power in reserve in case of extreme events.
As I checked today, our players are receiving their daily BTC rewards just as fine as it suppposes to be.
Q4: How does your NFT and mystery boxes work?
Hey this is my favourite part!
NFTs are actually the coolest thing we’ve realised in the CoolMining world.
We have two categories of NFTs in the ecosystem. Which can be collected from our mystery boxes.
So, the mystery boxes include CoolPart NFTs, which are essentially miner accessories that can be used to customise a miner.
We’ve made some innovation in this to explore the further use of NFT.
There are two types of mystery boxes, Essential Hash Parts and Elective Hash Parts.
Essential Hash Parts contain only hash boards while Elective Hash Parts include control board, power supply unit and cooling system.
Players would need at least one hash board and at most four nonduplicated components, one from each type to mint a miner (our unique NFTs which is customized by the parts).
Each part has three level of rarities and assigns different attributes to the miners.
Q5: What is your tokenomics?
As gamefi has blown our mind about games in the Crypto world since last year.We all know that gamefis are about P2E (play to earn).
And players do care about the earn part!
To explain our tokenomics, let me introduce the 2 tokens circulating in the coolMining ecosystem, CoolHash and CoolGas.
CoolHash, aka COOHA, is the hashrate token. 1 CoolHash = 0.01TH/s hashrate.
Players can use CoolHash to stake for BTC rewards or purchase mystery boxes and customise their own miners.
Also, it is the governance token for the CoolMining community.
As a decentralized mining game, we want to do our best to involve as many community members as we can.
We’ve recently updated the info about COOHA on CMC, check it out!
And for CoolGas, aka COOGA, is the utility token.
Players need CoolGas to boot the miners in the miner gameplay part. At the same time, players receive CoolGas as mining rewards besides BTC rewards.
We haven’t released COOGA yet. But trust me, it can be really important in the ‘EARN’ part!
And here we will put best questions from our members and CoolMining fans:
Q1 : CoolMining deploys the project on the KCC Chain. Why have they chosen this network? Do you plan in the future to merge several blockchains into your platform?
Right, this is the question from twitter, I’ve seen some really good questions there!
About KCC, I hope you guys can check it out. KCC has got some great potential in it!
The reasons we choose KCC to start are:
First of all, our team has been working closely with the KuCoin Pool. Great team and solid partnership!
Besides, as we’re looking and the successful gamefi project in the market.
With Axie running on Ronin, Farmers World on Wax, DeFi Kingdom on Harmony, all of which to ensure a smooth gaming experience with negligible transaction fees, we agree with this experience-first thesis and consider KCC a decent chain to deploy.
Apart from the low fees, KCC has the infrastructures established such as the DEX and the launchpad.
We happened to be the first Launchpad project on KCC and our IDO was a great success!
Just so you know, the official name of KCC is Kucoin Community Chain.
We really love the idea of community chain, which represents the spirit of the decentralisation.
However, as some of you might have asked, we do have plans to deploy the game on other chains as the ecosystem grows.
That’s pretty much it. KCC is just like a younger version of BSC.
Q2: One of the most common issues is that most investors nowadays are just concerned with short-term gains and do not consider long-term rewards. Is it possible for you to give them some reasons why they should buy and hold #COOHA tokens over time?
If you’re a Bitcoin lover, I guess you have already understand that LONG-term is the key.
The reason why I’m so confident about Coolmining and Coolhash is:
CoolHash is backed by real world hashrate and you can earn real BTC rewards as long as you are staking.
The rewards come from bitcoin network mining directly.
That is to say, as long as the BTC never stops, CoolHash does not stop.
If you believe in BTC, just stick with CoolHash!
I hope you guys are also Bitcoin MAXIs like I am. hahah
We’re here for the long-term, to grow with Bitcoin.
Q3: Many of the people who try to enter the world of cryptocurrency mining face the problem that normally a powerful computer or specific equipment is needed for mining, so, will CoolMining be a much more accessible alternative in this sense for those interested in mining?
Okay, this is actually the starting point as well as the mission of CoolMining.
I, along with my guys from the team, we do undertand the hardship in real life mining.
That’s why we start CoolMining.
By gamifying the mining process and realised it with smart contracts.
Players not only are able to participate in mining under a cozy environment with low cost, but also exploit their imagination to create mining rigs never seen in real life before.
I have to thank our artists for making this happen. Our Miner NFTs are much more cooler than the real mining rigs.
So in CoolMining, as long as you’re familiar with gamefi. You should be able to onboard youself pretty easily!
Q4 )What is your top 3 things for priorities in 2022? Could you share some plans for the upcoming year?
I’ll start with the first question I saw.
Our top 3 things in our 2022 roadmap are:
- We’re currently working on the development of the mining host gameplay. We want make sure our tokenomics fits the gameplay and everything is ready before we release it.
- We’ll start exploring the deployment of the game on multi-chains.
- We’re also talking with other major miners we’ve been working with. Once they’re on board, we’re very likely to add more real-life hashrate into the project and bring more rewards to our players.
Q5 )Ok sir, as we all know, that it is the Corona virus season, will the corona virus also have an impact on your project, sir? if so in what way?
Okay Hannah, thank you for DM me your question.
Right, the Corona Virus is raelly a big deal as some of our workers on site have been affected.
However, we’ve allocated more than 100 PH/s hashrate in CoolHash and we are doing our best to make sure the hash rate is stable enough to support the BTC reward distribution.
We really hope the world will recover from the Covid and every one here can get back to the life they used to be.
Q6) I’m very excited, sir, I have a question other than on Telegram, where else can you introduce your project? I really want to follow him 🙏🏿🙏🏿
Hey Ummu, no worries.
I have this ready for you!
Here’re some official links of CoolMining:
Please check it out and join our community. Our coomunity members will be happy to help you onboarding!
Q7 )CoolMining is based on 2 tokens CoolHash and CoolGas. Why 2 token based? What is the difference between the two tokens?Will this determine your strategy for choosing a baseless local stablecoin in the future & What Method will be used to achieve global adoption of the stablecoin?
Okay, the bold letters are working!
As I’ve answered in the tokenomics part,
CoolHash is the token backed by the reallife hashrate. It represent the hashrate and it’s the token which generate your BTC rewards.
And it’s also the governance token in our project. You’ll be able to use it for voting about the decisions of our project.
CoolGas is the utility token in the Miner gameplay. It’s also quite important in miner hosting gameplay.
About the stablecoin, nah, I don’t think we’ll touch that.
We’ve got USDT/USDC/DAI and many other trustable stablecoins in the market. You’ll be easily to swap your CoolHash to stablecoin through Dex or Cex.
Btw, you can now get CoolHash from Mojitoswap (dex on KCC) and here’s the link:
Q8 )💥Staking programme is very important for any project, Can i stake your token? Do you have any plan of starting staking programme?1
Okay, we come to the last question!
The mining pool gameplay is live now on our website!
We name it mining pool just to stimulate the real mining pool in our game where players can share the BTC rewards based on the hashrate they stake.
So basically, you can just stake your CoolHash into the mining pool and enjoy your BTC rewards!
And this is also the most exciting thing I want to share today.
We’re running an event about giving BTC reward bonus to our early supporters and players.
If you stake you Coolhash into the mining pool today. You’ll be able to receive up to 30x bonus reward in BTC!!!
Check our pinned tweet!
And this was the end of our AMA with CoolMining.
Some useful links :
Website : https://coolmining.io/
Telegram : https://t.me/coolmining
Twitter : https://twitter.com/CoolMiningGame
Discord : https://t.co/KpisTBHnxF