Golden Outpost | The end of SUN genesis mining and the opening time of Justswap liquidity mining are confirmed.

According to Justin Sun’s Weibo news, SUN Genesis Mining will officially end at 21:00 (Hong Kong time) on September 16, 2020. After Genesis mining ends, it will start at 23:00 (Hong Kong time) on September 16, 2020 Suncoin SUN officially launched liquidity mining, and will cooperate with Justswap.org to start a 14-day liquidity mining of three mining pools: SUN/TRX LP, JST/TRX LP, and USDT/TRX LP.

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1. SUN will officially reduce production from today (16th): After the official mining, SUN will start to reduce production. This time, the single-day output of the mining pool is 10% lower than that of Genesis Mining, from 132,000 per day to 117,000 per day. It is expected that the production cut will have a positive impact on SUN.

Jinse Finance mining data broadcast | BCH network computing power dropped by 4.93% today: Jinse Finance reported, according to the data of the spider mining pool:

The computing power of the entire ETH network is 180.609TH/s, the mining difficulty is 2280.34, the current block height is 10164280, and the theoretical income is 0.00842766/100MH/day.

The computing power of the BTC network is 93.636EH/s, the mining difficulty is 15.14T, the current block height is 632246, and the theoretical income is 0.00000926/T/day.

The computing power of BSV network is 2.016EH/s, the mining difficulty is 0.26T, the current block height is 637117, and the theoretical income is 0.00044639/T/day.

The BCH network computing power is 2.487EH/s, the mining difficulty is 0.35T, the current block height is 637322, and the theoretical income is 0.00036182/T/day. [2020/5/30]

2. Impact of SUN LP liquidity mining: Due to the opening of SUN/TRX LP, JST/TRX LP, and USDT/TRX LP liquidity mining, the demand for SUN/JST/TRX will increase, and the three tokens will be have a positive impact. Since the total amount of SUN in the SUN/TRX LP liquidity pool is the largest, and the current circulation of SUN in the market is very small, the positive impact of SUN will be even greater.

3. Impact of TRX lock-up: Calculated based on SUN’s current price of 20 USD and annualized 100%, the lock-up funds of the LP mining pool will be greater than 864 million USD, which is much higher than the current total amount of TRX genesis mining lock-up (8,711,688,582.305 TRX ), which will reach 3.6 times of the current locked-up amount. Therefore, the end of Genesis Mining on September 16 will not cause selling pressure on the market, and will even bring more locked-up funds, which will further promote TRX benefits.

Liquidity mining refers to the process of depositing or lending specified token assets according to requirements through DeFi products with mining mechanisms to provide liquidity for the product's fund pool and obtain income. This benefit could be the project's native token, or the governance rights it represents.

On the surface, liquidity mining is to inject liquidity into different projects. In essence, it effectively connects value islands in the decentralized dimension, accelerates the frequency of value exchange, and ultimately promotes price discovery. In liquidity mining, miners not only assume the obligations of LP (liquidity provider), but also play the role of Oracle (oracle machine).

The LP mining participation tutorial is here

SUN official website: Sun.io

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