I’m fully aware that sometimes buying $ORE in the open market can be more cheaper than mining because mining cost sometimes can be higher than buying in the open market but I mine to earn 57% apy while I stake to earn 18% apy
For short term it’s fine to buy and resell when you are happy with your investment
But for a long term investment like me, mining is the best option for you because longer you hold more uORE you earn lowing your cost production and helping the ecosystem grow
Appreciate you sharing your take. It’s a fascinating perspective, but I think it misinterprets the community's intent. The $ORE ecosystem isn't a zero-sum PvP game, and nobody is telling miners to cash out to pump their own unrefined holdings. I haven't seen anyone trying to mislead newcomers with bad advice.
In fact, holding and accumulating is viewed as pretty sacred here. The beauty of the protocol is that it aligns incentives organically without needing underhanded tactics. The overarching gospel of the HardHat vision is to hold, lock in immutability, and build value together through a shared network effect of belief.
It’s a cooperative network where everyone wins, but I'm always open to learning if there's a specific angle or dynamic I've missed!
Yield on solana:oreoU2P8bN6jkk3jbaiVxYnG1dCXcYxwhwyK9jSybcp is often misunderstood.
There are two types of yield: staking and refining.
Staking yield is determined by the amount of $SOL miners deploy to acquire ORE over time, as well as your percentage of the total stake.
As more miners deploy and your stake percentage increases, your staking rewards will grow.
ORE stakers are extremely well incentivized to encourage more mining.
Most stakers are miners as well.
The second type of yield is obtained through refinement.
When you successfully mine ORE, the rewards you receive are considered unrefined.
Unrefined ORE can be regarded as “raw” digital material. To transform it into tradable and circulating ORE, it must be claimed. However, a 10% refining fee is applied to all rewards at the time of claiming.
The 10% fee is automatically redistributed to all other miners who haven’t claimed their rewards yet. This is the source of the refinement yield.
The longer you leave your unrefined ORE in its original state and the more unrefined ORE you have, the more “refined” ORE you accumulate from the fees of other miners who claim their rewards before you.
Miners are highly motivated to be patient and wait a while to claim after they have mined their ORE.
@Wisemenmentors created two characters, Solomon The Staker and Fred The Miner.
Interestingly, both Solomon and Fred are invited to dine at ORE’s table.
One character wears a business suit, while the other sports a denim and flannel outfit.
Both characters enjoy a sumptuous meal.
Solomon can expect an annual return of 15-20 percent, while Fred can expect a return of 55-65 percent.
Understanding the power of compounding, it’s clear that being Solomon and Fred is the optimal strategy.
This is why I frequently advise:
- If you buy ORE, stake it.
- If you mine ORE, refine it.
- If you hold ORE, covet it.