Community Voting for BFG Mining Price Increase
BFG Mining has become a key feature on BetFury, and it's still considered to be like that. It has been active since the foundation of the platform.
The mining price of BFG in each currency depends on the BTC exchange rate at Binance and rises after every 50 000 000 BFG tokens mined. You may track it on the Staking page anytime.
The price and number of mined tokens are growing very fast. Currently, 4 693 150 493 BFG have already been mined. The total amount of tokens left is 306 849 507, and the quantity is constantly decreasing. The total emission is 5 000 000 000 BFG. It's the maximum number of BFG tokens that can be mined on the platform, and it will not be changed! Then if mining continues with the same tempo, it will end in about 3 months.
What will happen when all the tokens are mined?
Once all of them are mined, no new BFG will enter circulation. Therefore, when all tokens are emitted, this will increase the value of BFG, since new tokens will not enter the market, and existing ones will be burned periodically. Currently, BFG has many utility opportunities: Staking, playing, getting bonuses, and trading. Then the only way to get BFG tokens will be to exchange them.
We want to make this process longer and continue mining to strengthen BFG tokenomics. Therefore, we offer the following plan for maintaining the token price and stable tokenomics:
- Increase the price of mining by 3 or 5 times.
- Reduce the range for increasing the mining price from 50 000 000 to 25 000 000.
- Change the mining price dependence: from BTC price to USDT price.
These changes will affect the BFG tokenomics in the following ways:
- Slow down the speed of mining tokens;
- Contribute to a more stable APR for staking;
- Continue mining for around 32 or 53 months;
- Make a positive impact on the BFG price.
According to the voting results:
- If the price of mining is increased by 3 times, then it will be extended for about 32 months;
- If the price of mining is increased by 5 times, then it will be extended for about 53 months.
After increasing the mining price by 3 or 5 times, there will be a gradual rise in the mining price by 10% from the previous one.