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Hi Ember Crew,
Thank you to everyone who has participated in the first season of the mining program! The Ember team is proud to announce that the 1 BTC has been fully mined and Mining Season 1 is coming to a close. Users will be able to withdraw their BTC within a few weeks. Due to the community’s support, we’ve decided to continue building out the mining program with new features and rewards!
The mining feature going forward will be broken up into 3-4 month long “Seasons”. Each Season, new features & mining rates will be implemented to incentivize full usage of the Ember platform in accordance with the Bitcoin price and number of active miners. Season 2's rates activate in 2 weeks on November 17th.
Anyone invested in an Ember portfolio will receive a boost of +5 Satoshi / hr. Invested users should see this boost in-app already ;)
Any Bitcoin rewards in the mining page will be automatically lent out on Compound to generate an additional 1-3% APY
There will no longer be a community 1 BTC requirement for withdrawals 🚀
We built a new page called "Boost" so users can track which referrals are actively mining
Once the Boost page is launched, users will also be able to withdraw their Bitcoin rewards. All you will need to do is enter a valid BTC wallet address, and Ember will send out any mining rewards you've accrued at that point
To optimize mining fees, there is a $5 BTC minimum to withdraw, and Ember will be batching payouts on a two-week basis. Dates for when to expect a payout will be shown on the boost page when it's ready.
We expect the boost page and withdrawals to be ready in a couple weeks. We appreciate everyone’s patience!
Reflection on Season 1: Since the mining program launched, Bitcoin doubled in price to $60k, and the number of miners has increased significantly
For Season 2, the base rate and referral boosts will be halved to 5 Sats/hr
as a result of the Bitcoin price increase
Additional ways to boost (and other rewards…) coming as well!
The Mining page is getting a new look!
We recommend everyone continue to mine from their original Season 1 Ember accounts ;)
The holidays are coming soon, and we want to properly thank our early supporters!
This is only the beginning of the mining program. Mine and refer friends at higher rates while you can. Season 2 kicks off in 2 weeks! Let’s continue to build an amazing community!
Cheers to the future, and happy mining!
Please email us if you have any questions. 🙏
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