Earning Venom with Miners

One of the key ways to earn Venom is by creating miners using your DRIPX tokens. Here's a more detailed breakdown of how miners work and why longer pays better:

1. Create Your Miner: To start, you’ll use your DRIPX tokens to create a miner. The miner acts as a tool to generate Venom, and the length of time you set for the miner directly affects how much Venom you can earn.

2. Longer Pays Better: The longer you create your miner for, the higher your APR (Annual Percentage Rate). The longer you commit to letting your miner run without claiming rewards, the more Venom it will generate over time. This incentivizes long-term participation and patience, giving bigger rewards to those who stay invested in the system.

3. Claiming Venom: You can only claim your Venom rewards once your miner expires. After the expiration, you’ll be able to claim all the Venom you’ve earned. If you wait too long to claim, though, be aware of the penalties.

4. Late Claim Penalties: After the miner expires, you have a 7-day grace period to claim your Venom rewards. If you claim after that, you’ll face late claim penalties that reduce your overall rewards. For more details on this, you can refer below.

5. Hyper Deflationary Mechanism: Here’s the kicker—95% of all DRIPX used to create miners is burned & 5% is sent to the Buy & Burn pool. That’s right, every miner created reduces the overall DRIPX supply, making it hyper deflationary. This burn mechanism helps to boost scarcity and, over time, increases the value of remaining DRIPX tokens.

Penalties:

- Claim within the 7-day grace period to avoid penalties.

- After that 7-day grace period, you enter penalty zone, which looks like this:

if 1 day late ~> lose 1% of your claimable DRIPX

if 2 days late ~> lose 3%

if 3 days late ~> lose 8%

if 4 days late ~> lose 17%

if 5 days late ~> lose 35%

if 6 days late ~> lose 72%

if 7 days late ~> lose 99%

Limits:

- Each wallet is limited to a maximum of 1000 miners.