This post is also available in:
Being part of the MINX Club is really simple, you just have to have MINX and keep them or buy more to be part of this Club.
At InnovaMinex we reward the loyalty of all those who support the project and believe in it as much as we do.
Therefore, all club members who participate in this program will earn discount points (Goldings) that can be redeemed with discounts of up to 90% of the value of gold and precious metals products that we will sell in the shop.
Seasons for earning Goldings
The programme considers three (3) month intervals called “seasons”.
In order to obtain the benefits of the programme, the user must have enrolled their wallet before the start of one of the seasons.
Seasons:
- First season CLOSED: 1 January to 31 March.
- Season 2 DEMO: 1 April to 30 June
- Third season: 1 July to 30 September
- Fourth season: 1 October to 31 December
If you register your MetaMask wallet when a season is already in progress, you will automatically start participating in the next season.
So if you have recently activated the Minx Club, you will start participating in the third season.
The system will regularly and periodically check the amount of MINX present in all registered and participating wallets.
Details of the seasons
At the beginning of each season, all users with registered wallets will be automatically enrolled in the new season with the amount of MINX last checked by the system.
For the duration of the season, the MINX balance of each participating wallet must not fall below the amount registered at the beginning of the season, or it will no longer get all the benefits of that season, and could lose the status obtained in the previous season.
At the end of a season, all users who have kept at least the amount of MINX registered for that season in their wallets during that period will get Goldings and a status in the MINX Club.
The amount of Goldings and category depends on the amount of MINX.
Distribution of Goldings
The calculation of the amount of Goldings to be distributed is based on a formula that takes into account the quarterly profit of InnovaMinex, the profit obtained by the mining projects, the sale of the non-circulating MINX tokens released during the first 10 years, and different marketing actions to increase sales of the products and the community.
The seasonal distribution of the Golding for each year will be as follows:
- First season: April
- Second season: July
- Third season: October
- Fourth season: January
By having two values: the total amount of MINX that have participated in a season, and the total amount of Goldings that will be generated for that season, we know how many Goldings correspond to 1 MINX for the period of that season (or how many MINX are necessary to obtain 1 Golding).
Example of how it works
Example 1.
A user has 100,000 MINX during a quarter.
In that quarter, 10 million Goldings are generated.
And in that period, 5 million MINX have been kept in the wallets.
Thus, we have 10 M Goldings / 5 M MINX = 2 Goldings / MINX. Therefore, each MINX will get 2 Goldings, which means that this user will have 100.000 MINX x 2 Goldings = 200.000 Goldings to use for the purchase of our precious metal products.
And since 1 Golding = $0.01, the 200,000 Goldings can be redeemed in our e-commerce for $2,000 worth of our products. But to know the usage limits, we need to know your club membership status.
If you have not yet registered for the MINX Club we explain how to do it here: https://innovaminex.com/blog/en/how-to-activate-minx-club/
Besides being simple, you don’t lose anything by being a member, by maintaining or increasing your MINX you will see how your amount of Goldings increases every season and you will be able to use them for your purchase of gold and precious metals.
