♻️Mining Process
1. Mining Process
Imagine starting your day by tapping the Torq logo button within the app. This simple action activates a 24-hour mining session, during which you earn Torq at the current mining rate per hour. By consistently checking in every day, you accumulate Torq without any impact on your device's performance or battery life.
Individual Mining
When mining solo, you're earning the base rate of 16 Torq per hour. It's like having a crypto-earning companion that works tirelessly for you, providing a steady stream of tokens.
Team Mining Bonus
Now, let's talk about the power of teamwork. When you invite a friend to mine together, both of you receive a bonus of 20% on your base mining rate. For instance, with a base rate of 16 Torq/hour, mining with a friend boosts your and your friend's rate to 19.2 Torq/hour. Teamwork not only makes the mining experience more enjoyable but significantly enhances your earning potential.
Tiered Friend Bonus
As your mining community expands, so do your rewards. Imagine inviting five friends, and they, in turn, invite their 5 friends. If all 25 friends from your Tier 2 connections mine simultaneously, you earn an additional 1.6 Torq (10%) for each, resulting in a substantial bonus. For example, with a base rate of 16 Torq/hour, this could mean an extra 40 Torq/hour in your pocket.
So your total earning after inviting 5 friends who invited their 5 friends will be 72 Torq/h
Here's how this calculation is done!
HMR = BMR + (T1 × 0.2 × BMR) + (T2 × 0.1 × BMR) + (TF * BMR)
Assuming the base mining rate is 16 and you have 5 tier1 friends and 25 tier2 friends and you haven't purchased any Torq Fuel Package yet.
HMR = 16 + (5 * 0.2 * 16) + (25 * 0.1 * 16) + (0 * 16)
HMR = 16+16+56+0 = 72 Torq/h
Torq Fuel
Torq Fuel is your ticket to turbocharged mining. Purchase fuel packs to amplify your mining rate and maximize rewards.
The new Torq Fuel feature is an exciting addition. Users can now purchase fuel packs to boost their mining earnings significantly. Here are the details:
Power Fuel: $5 for 5X mining rate (T1: $1.5, T2: $1)
Remember, when your T1 and T2 friends purchase the same or higher fuel package, you'll receive a commission. Get ready to supercharge your mining experience with Torq Fuel! 🚀
Jump to TorqFuel page for more info.
Hourly Mining Formula
The hourly mining rate calculation gets even more exciting:
This formula captures the essence of the Torq ecosystem, where every referral and TorqFuel contributes to your hourly mining rate.
Where,
HMR = Hourly Mining Rate
BMR = Base Mining Rate
T1 = Total Number of Active Tier1 Friends
T2 = Total Number of Active Tier2 Friends
TF = Torq Fuel Multiplier
3. Days Off and Burning Mechanism
Imagine a scenario where you consistently check in for six days straight, earning yourself a valuable Break Day. This day off can be used when life gets busy, and you can't tap the check-in button. During the Break Day, your account is considered active, and you continue to earn Torq as if you were mining regularly.
Burning
However, if you exhaust all your Break Days and remain inactive, the Burning mechanism kicks in. This is like a countdown where you lose 4% of your balance daily. For example, if you have 1600 coins when you become inactive, you lose 64 coins on the first day. This process continues until, on the 25th day, your total earned balance is wiped off.
4. Staking for Long-Term Growth
Now, let's explore the concept of staking, a strategic move to grow your Torq holdings over time.
Staking Duration and Interest Rates
Suppose you decide to lock 50% of your 1600-coin balance for four years. That's 800 coins locked, and after the staking period, you not only get your initial 800 coins back but also earn interest. In this case, at a staking interest rate of 190%, your total balance after five years would be 2320 coins.
Staking Deposit Process
Users can create a staking deposit once per cooldown period, preventing excessive staking deposits. If the staking cooldown period is, let's say, 10 days, you can strategically stake your coins and then wait for the cooldown before staking again.
Inactivity and Staking
Staked balances are immune to burning during inactivity. However, if you remain completely inactive for 30 days, both your available and staked balances become zero. This dual mechanism ensures that users stay engaged in the Torq ecosystem actively.
Torq Network's Mining Experience: Collaboration and Recognition
Torq Network's mining app provides users with a multifaceted experience where collaboration, strategic decision-making, and consistent engagement lead to substantial and sustained rewards. Through vivid examples, users can envision the possibilities and advantages of participating in the Torq mining ecosystem.
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