Re: [ANN] Minereum - First Self Mining Smart Contract

So I have a question in regards to Genesis Address Level 3

Genesis Address Level 3

You CAN:

- Set your address for sale at the price you wish

- Transfer the Genesis Address to another address

- Self-mine (mining process only starts on Level 2 or Level 3 activation)

- Transfer MNE to another address <-- Does this mean that the 32,000 MNE becomes available balance or is it only the self mined that can be transferred?

- Use the MNE Decentralized Trading

- Destroy your Genesis Address to buy/transfer stakes

No, the 32,000 MNE does not become available. Once you activate Level 2 or Level 3, you will be mining roughly 2 MNE per day. Think of this as unlocking 2 MNE per day. This self-mined amount can then be transferred, but only if you are on Level 3.

32,000 MNE is the maximum amount of MNE that can be mined by a L2 or L3 genesis address.

and to make your genesis address mineable you have to pay minereum dev ?

Yes, we do need to pay. This benefits stakeholders as they get a share of all fees:

L1 to L2 is 0.10 ETH; mining starts but we cannot transfer the self-mined MNE and this is fine if you just want to HODL
L2 to L3 is 0.20 ETH; obviously, mining has already started but you are now allowed to transfer the self-mined MNE if you wish
L1 to L3 is 0.30 ETH; mining starts and you are allowed to transfer the self-mined MNE if you wish

Those who do not have a genesis address can buy a L1 address for 0.44 ETH. The fee includes upgrading to L3, so you are effectively getting a L3 address for 0.44 ETH