APE Mining Club - Basic Introduction

Hi everyone,

I had some liquidity available for playing around, and I wanted to try the mysterious APE Mining Club.

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Ape Mining Club is a simulated mining pool, in which anyone holding APE (token tradable on Hive-Engine) can buy miners and get a share of the reward pool. I've putted 40 HIVE on the table, bought APE at 0.6 HIVE/APE, and got my first gear: 2 CPUs, 1 CLOUD, and 2 GPUs.

Had no clue what would be the return rate of my investment, but few hours later I received the daily payout: 1.272 APE.

Wow! Mother of all monkeys, I'm highly impressed!

With the first payout I'm also able to make the first calculations of the return of investment:

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To explain a bit the terms, this is what I've learned so far:

  • for every type of miners there's a separate pool.
  • all miners in the pool are equally sharing the number of APE tokens listed under the Daily Rate.
  • Daily Rewards are the payout received for each miner I owned.
  • Running Miners is the computed number of miners running under that specific pool, and is obtained by a simple division operation.
  • APR is of course, the Annual Return Rate; an annualized profitability of the investment.

Again, wow! Mother of all monkeys, high three digit ARP rate? Never expected this!

The APE Mining Club is a cool place to be! And I have a feeling that this is only the beginning of a great adventure.

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