STEM Miners - How do they work?

in stem •  5 months ago

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How does STEM mining work?

The STEM token has two inflation pools.

Proof of brain accounts for 80% of the inflation for the STEM token. This is what powers the reward pool and handles the distribution to authors and curators for content published with #STEM.

Mining draws 20% of the inflation for the STEM token. The mining pool is emptied every 1 hour and pays out to 20 individual staked STEMM tokens.

The inflation of STEM dedicated to mining is higher than most tribes without impacting the reward pool.

How to mine STEM tokens

You first need to purchase or trade OTC STEMM tokens.

STEM Miners will not be eligible for mining rewards until you stake them. Once staked, you are put in a pool with all other staked STEMM tokens. Every hour 20 random miners are chosen to win an equal stake of the current mining reward pool.

The mining reward pool is reduced to zero after paying out the 20 miners and builds up until the next hourly distribution.

All miners have an equal chance to win one of the available 20 tickets.

Can I win more than one ticket hourly distribution?

Yes, every staked miner can win one of the 20 tickets.

How much are STEMM tokens?

There is currently a 10,000 STEMM sell wall at 10 Steem. This will be removed and replaced tomorrow with 10,000 sell wall for 11 Steem. I am a fan of repetition.

Can I sell STEMM tokens?

Yes, you may stake your STEM miner or sell it. You also can stake it and then unstake and trade it in the future.

How does unstaking a STEM Miner work?

Unstaking the STEMM token works the same as unstaking STEM. It will take 30 days to unstake your STEMM and will be paid out over 5 transactions. You will receive 1/5th of your unstake every 6 days. You may cancel your unstake at any time.

Today is the lowest price we will post STEMM tokens.

I make no promises STEM or STEMM will be worth anything now or in the future. The price is up to what that market believes it is worth.

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With around 1400 miners in the wild, I think the mining rate works out to roughly 0.96 STEM every 3 days on one miner on average. This will diminish as more miners are staked.

Mining reward pool is 19.2STEM per hour, split 20 ways.

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To me mining is a feat of engineering and technology. This just seems like RNG. Math is also cool, but the term mining is misleading.