A holiday-season gift for miners. Starting on Jan. 1, 2022, | TON Community
A holiday-season gift for miners.
Starting on Jan. 1, 2022, mining pools TonWhales and TON Coin Pool, verified and certified by the TON Foundation, will not be collecting commission from miner rewards.
TON mining pool participants have spearheaded this generous holiday initiative, which became a reality thanks to the TON Foundation grant program.
The program will run until April 2022, and TON will cover miners’ commissions using its reserves of funds. If miners show interest in the program and prefer it to other pools, it may be extended.
Representatives from TON’s core community of developers will be observing and following whether the pools will complete their requirements honestly and whether they will provide users mining work without any fees.
The TON Foundation sees significant risks for users who connect their computing power to mining pools that have no partnership with or are unverified by the TON Foundation. Users who participate in these foreign mining pools do so at their own risk and without the protection of the community.
More specifically, concerns center around hidden commission fees, unexpected and unsanctioned seizure of income, or using a pool’s computing power for nefarious reasons toward other participants of the ecosystem.
For these reasons, the TON Foundation has decided to help honest market participants by removing the automatic commission taken and shifting everyone’s attention to increasing users’ income and developing the ecosystem.
Please note: Currently, only two resources have received financing for the program.
Maintaining a mining pool is an expensive process that hardly anyone would want to do when financial incentives are removed from the equation.
If you’ve come across a mining pool unlisted in our TON Apps suite that offers low commission fees or even zero fees, tread lightly: Participating in these pools carries high risks. Do your own research and be safe.
