February 20, 2022
Ker Ting

NELO’s NFT Mining Pool

Launching on 28th Feb 2022

We are thrilled to announce that we are now bringing our NFT Mining Pool to the Nelo community. Built to maximise mining efficiency, Nelons will be able to receive the best out of selling their hashrate in a predictable and profitable manner.

What is the function of a Mining Pool?

A mining pool serves as a convenient coordinator for pool’s members. The functions include managing the hashes of pool members, scanning for rewards through pooled effort of available processing power, documenting work done by each pool member, and giving incentivised shares to each pool member in proportion to the work done after appropriate verification.

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Launch Date: 28th Feb 2022, 16:00 (UTC+8)


Running Time: 28 Feb 2022, 16:00 - 1 Aug 2022 16:00 (UTC+8)

  • Total NELO in pool = No. of Blindbox 1 Sold + No. of Blindbox 2 (Sold from contract 0xC6c28011786DC7d6eBC78a5B69e913472b575D2f)

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Blindbox 1: 136,867,736 NELO

Blindbox 2: Sale begins on 21st Feb 2022, 12:00 and ends on 28th Feb 2022, 12:00 (UTC+8)

Guidelines:

  1. How many NELO you can harvest over 24 hours from mining pool is dependent on the total Hashrate of NFT you have staked VS the total Hashrate in the pool.
  2. Each Wallet address can stake a maximum of 8 NFTs to provide Hashrate into the pool and you will receive your mining reward every 24 hours.
  3. No limitations are set on the types of NFT you stake.
    Example: It can be 8 x Common NFT or 8 x Legendary NFT. Minimum requirement will be to stake 1 NFT. Maximum limit to stake will be 8 NFTs.
  4. Get additional 10% Hashrate bonus only if you have staked 8 NFT on a single wallet address.
  5. Only NFTs with Hashrates can be staked into the pool and harvest mining rewards.
  6. You can only harvest mining rewards every 24 hours.
  7. You can withdraw staked NFT from mining pools and will receive your NFT immediately. However, you must wait 24 hours to harvest mining reward.

Happy Hashing Nelons!

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About NELO (NSC):

NELO is a protocol and framework for building & connecting Ethereum-compatible blockchain networks, overcoming the limitations of Ethereum blockchain networks.
Speed, security, and scalability, are the priorities and principles of NELO. If this is what you are looking for, then you are at the right place.