APE Mining Club - Basic Introduction

in LeoFinancelast year (edited)

Hi everyone,

I had some liquidity available for playing around, and I wanted to try the mysterious APE Mining Club.

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Ape Mining Club is a simulated mining pool, in which anyone holding APE (token tradable on Hive-Engine) can buy miners and get a share of the reward pool. I've putted 40 HIVE on the table, bought APE at 0.6 HIVE/APE, and got my first gear: 2 CPUs, 1 CLOUD, and 2 GPUs.

Had no clue what would be the return rate of my investment, but few hours later I received the daily payout: 1.272 APE.

Wow! Mother of all monkeys, I'm highly impressed!

With the first payout I'm also able to make the first calculations of the return of investment:

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To explain a bit the terms, this is what I've learned so far:

  • for every type of miners there's a separate pool.
  • all miners in the pool are equally sharing the number of APE tokens listed under the Daily Rate.
  • Daily Rewards are the payout received for each miner I owned.
  • Running Miners is the computed number of miners running under that specific pool, and is obtained by a simple division operation.
  • APR is of course, the Annual Return Rate; an annualized profitability of the investment.

Again, wow! Mother of all monkeys, high three digit ARP rate? Never expected this!

The APE Mining Club is a cool place to be! And I have a feeling that this is only the beginning of a great adventure.

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Wow those are some great rates. I bought a few CPUs yesterday but I think these numbers will probably go down over time because more people are being added to the pools over time.

Posted Using LeoFinance Beta

Yes, this is right. But it will also increase demand for the APE, which should increase the price in the end. We will see when we will reach an equilibrium...

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