Gomining (GMT)

Gomining

GoMining is a liquid bitcoin hashrate (LBH) protocol. It allows users to own a BTC hashrate without maintaining mining infrastructure. LBH tokens are yield-bearing assets that can be used in DeFi.

What is Liquid Bitcoin Hashrate?

The idea of the liquid bitcoin hashrate originated from the general Liquid Staking narrative (often referred to as LSTs, or Liquid Staking Tokens). Liquid bitcoin hashrate (LBH) works in a similar fashion – while physical mining equipment and corresponding hashrate operate in a data center, the user owns a token representing the hashrate position. LBH tokens can be used in DeFi in the same way that LSTs are used, that is, they generate income on behalf of their owner, can be traded, and can be used in DeFi protocols for borrowing and lending purposes. As an example, LBH tokens can be used as collateral for borrowing stablecoins, that can be used in farming strategies and provide additional income to the LBH token owner. Liquid Staking Tokens on PoS blockchains, such as staked Ether may be considered the closest analogy to LBH tokens.