How mining works?

Why mining?

We use the term "mining" because it is more comprehensible for users. However, WFI doesn't use a traditional proof-of-work system; it operates on a proof-of-stake mechanism. Even so, WFI is generated through a complex mathematical algorithm, ensuring only a limited number can be mined.

Mining Duration and Halving Events

The mining process for WFI tokens is projected to span almost 8 years, with a halving event occurring every 2 years. These halving events are crucial as they reduce the mining reward by half, effectively managing the rate at which new tokens are introduced and supporting the token's long-term value. Total WFI supply: 1,000,000,000 WFI tokens WFI for ITO activation: 862,068,966 ("mined" WFI) WFI for referrals and staking rewards: 127,931,034 ("referral&staking" WFI)

Reserve for exchange listings WFI: 10,000,000 WFI

WFI mining details:

Blocks:	WFI Reward per block / sec	#of blocks	WFI tokens before halving
from 1 to 57 471 264	8	57 471 264	459 770 112
from 57 471 265 to 114 942 528	4	57 471 264	229 885 056
from 114 942 529 to 172 413 792	2	57 471 264	114 942 528
from 172 413 793 to 229 885 062	1	57 471 270	57 471 270

Mining Rate

WFI tokens are mined at a consistent rate of 8 tokens per second per block. This controlled rate of distribution ensures a steady supply while maintaining network security and efficient processing of transactions. Why ITO is important for mining?

Each ITO unit represents a measure of computing power within the WeChain network. It is comparable to the units used in traditional data centers to quantify the computational power allocated for various tasks. When users activate ITO units, they will essentially contribute this computing power to the WeChain network, helping secure and sustain the blockchain.

By contributing ITO, users become part of the decentralized infrastructure, and in return, they are rewarded with WFI tokens. This process reflects how the broader concept of mining operates within the blockchain ecosystem, where users contribute resources and, in exchange, receive rewards.

How to mine WFI tokens?

The only way to obtain WFI currently is by mining them through the activation of ITO nodes. Please be aware that activating ITO nodes is an irreversible action! Once your nodes are activated, you cannot retrieve your ITO because the nodes will be operational. Additionally, like any nodes, our ITO nodes will undergo algorithmic amortization, meaning their mining power will decrease over time. To maintain or boost your mining power, you should activate more ITO. Steps to Activate ITO and Mine WFI Tokens:

1. Purchase ITO: Buy ITO nodes on our ITO platform.

2. Choose the amount of ITO to activate: Navigate to the "Activate ITO" page, select the block and the amount of ITO you wish to activate.

   Be aware that the block price affects the annual percentage rate (APR) you will receive; earlier blocks typically offer higher APRs.

   

Note that this amount may vary based on the rate of ITO amortization and the total number of ITO activated in this block by others.

1. Estimate Potential Earnings: Adjust the WFI price projection to estimate potential earnings in USDT if WFI reaches your target price.

   
2. Complete Activation: Click 'continue' to proceed with your activation process.

3. Subscribe to Staking and Confirm Activation: Stake your mined WFI to potentially increase your overall WFI earnings. Refer to the 'Staking Details' chapter for more information.