BigONE Mixin Node Mining Pool New Version Instruction

Dear BigONE users: 

BigONE "Mixin Node" page is updated. The existing nodes: "KOL-1", "KOL-3", "KOL-5", "KOL-2", "KOL-6", “Bigger Together”, "X-ONE" will all be merged into the "New Mixin Node Mining Pool". The earnings on the merger day will be issued to the fund account through airdrop, and the earnings after merger will be distributed normally. 

The new version of the Mixin Node Mining Pool will launch on March 19, 2021 with the following detailed rules.

1. Product Overview

 

2. Product Rules

You can join immediately when a running node has an open spot and you can get the benefit of the running node
When there is no space in the running node, you can join the queue, and when there is space in the running node, you will join in order of queue. If the number of XIN in the queue reaches 80% of the total collection of a Mixin node, the BigONE team will advance 20% to allow the queued XIN to join the main network (the above ratio will be adjusted according to the situation)
The queuing nodes can cancel the queue at any time, and when the nodes in the queue form a new node to join the main network, the XIN in the queue will be locked and can be withdrawn according to the rules after joining the main network
XIN added to the B1 Provision can be withdrawn and deposited at any time, but they will not enter the running nodes or the queuing nodes

3. Earning Distribution

(1) 90% of the net profit of Mixin nodes is allocated to participating users of main nodes, and 10% of the net profit of nodes is used as platform service fee. 

(2) BigONE will award 10% of the platform service fee to the users of B1 Provision and Queuing Node (B1 Provision: 5%, Queuing Node: 5%).

4. Earning Rules

Earnings from running nodes, queuing nodes and provisioning nodes will be paid to the finance account on a daily basis
Users who participate before 18:00 (UTC+8) on the same day will receive their earnings on the following day, and users who participate after 18:00 (UTC+8) will receive their earnings on the third day
Daily 18:00 (UTC+8) to the next day 18:00 (UTC+8) is an interest-bearing period, if you withdraw within the interest-bearing period, you will no longer receive earnings on the next day.
When the XIN in the queuing node successfully joins the running node, the interest will be re-calculated according to the rules of the running node.

For example:

If the XIN in Jackson's queue successfully joins the running node before 18:00 (UTC+8) on March 16, Jackson will receive the main network running income at 18:00 (UTC+8) on March 17; if the XIN in Jackson's queue successfully joins the running node after 18:00 (UTC+8) on March 16, Jackson will receive the main network running income at 18:00 (UTC+8) on March 18. 

5. Withdrawal Rules

BigONE currently offers two ways for users to withdrawal

If there are XIN in the queue: XIN in the running node can be exited at any time, and there is no fee for exiting. The principal will be unlocked around 17:00pm(UTC+8) daily after the withdrawal request.
If there are no XIN in the queue: XINs in the running node can choose to withdraw by appointment, and BigONE will advance the withdrawal XIN to users who have made an appointment to withdraw from time to time according to the actual situation.

In addition, BigONE will also launch speedy exit function, immediate exit, direct to account. 

6. Co-building Node Cost

BigONE platform builds Mixin nodes with users and provides users with the service costs required for the nodes, including but not limited to: server rental, system development and maintenance, node operation, as well as the various risks borne by the subsequent changes in the market
The cost of building nodes together with the platform may fluctuate according to the market situation

7. Risk Warning 

According to the official Mixin rules, the pledge must be fully pledged in the Mixin network. The platform is not responsible for any loss of pledges not caused by BigONE.
If you are interested in participating, please read the above rules carefully. If you have any questions, please contact our online customer service. The platform will not be responsible for any losses caused by not reading the rules.

BigONE, more than just asset security

Best, 

BigONE Team

March 19, 2021