FAQ
BlitzMiner is an Advanced dAPP, please read all documentation carefully and Be sure to read the usage guide!
What is BlitzMiner?
BlitzMiner is an advanced BUSD mining platform where you deposit BUSD into the protocol, and earn BUSD back at a daily % rate. This rate is dependent on multiple factors. Owning BLITZ tokens gives you additional bonuses using the miner. When you start earning BUSD, you can either re-mine (compound) or claim your rewards through our dAPP. To ensure sustainability there is a withdrawal penalty of 60% when claiming outside of the optimal 6-1 strategy. The 6-1 strategy is compounding 6 days and claiming on the 7th. All compound and claim functions can also be optionally automated for the ultimate set & forget investment. BlitzMiner takes into account all the latest developments in the miner meta such as earnings auto-compounder, extra sustainability mechanics, token integration, bounty rewards.
Website: https://blitzminer.io/
What is the price of BlitzMiner?
BlitzMiner does not have a set price. The higher the TVL, the more BlitzMiner you receive per BUSD spent. The Lower TVL, the less BlitzMiner you receive. There is no calculator available.
The contract is written to provide an optimal entry for any and all users, new or old. This is the reason the BlitzMiner per BUSD amount changes frequently with TVL fluctuation to provide an even playing field for any new user coming to BlitzMiner and not giving the first user/s a headstart.
How much can I earn with BlitzMiner?
The daily percentage is up to 8% which is dependent on several factors such as how often people are claiming rewards, the time of day you re-mine or deposit, and TVL fluctuation. BlitzMiner has many special features that maximize the rewards and sustainability for everyone. For example having mandatory compounding and rewards cutoffs ensures no one can abuse the system and stray from the 6-1 strategy.
Can I get my initial back?
BlitzMiner is a locked rewards pool. You earn your initial back over time through the rewards in the dApp.
How do referrals work?
If you refer a friend you will earn 8% of the BUSD used to buy BlitzMiner in referral rewards, an additional 1.2% can be earned trough the various $BLITZ bonus tiers for a total of 9.2%. This feature will be available one hour after the launch, and users will be able to create their own referral link.
For the first hour after the launch this fee will be collected by the Blitz Labs treasury and used to buyback $BLITZ tokens and develop the Blitz Labs ecosystem.
What are the fees?
There is a 5% fee on BUSD deposits and withdrawals. These fees are used for the improvement and sustainability of the Blitz Labs ecosystem.
60% fee for early withdraw, compound multiplier not reset for early claim!
Standard BSC network gas fees are required for EVERY transaction including deposits, claims and re-mines/compound.
How does the auto-compounder work?
Participants that have an initial deposit of 250 BUSD or more can opt-in to use the auto-compounder feature. The 250 BUSD does not have to be your first deposit, but encompasses all your deposits. This feature will automate all the compound and claim actions for the user meaning no manual action has to be taken anymore to follow the 6-1 strategy. Using the auto-compounder feature comes with an automation fee of 1% per compound or claim, so for example if you are automatically sent 100 BUSD on your claim day, or compound it, 1 BUSD is taken as a fee. Auto-compounding moments are done twice per day around 3:00 AM/PM EST. You can enable/disable auto-compounder at any time, but it will reset your 6-1 progress. When first enabling auto-compounder it will take up 12-23+ hours to sync up to the auto-compounding schedule, see the following examples:
You enable auto-compounder 1 hour after the previous compounding moment: You will sync up to the compounding schedule in 11+12 hours.
You enable auto-compounder 1 hour prior to the next compounding moment: You will sync up to the compounding schedule in 1+12 hours.
Auto-compounder will follow the 6+1 strategy: compounding for 6 days and claiming on 7th with no withdrawal penalty. All fully automatic, no input required. On your 7th day of auto-compounding your compound multiplier timer will show 00:00:00 for 12 hours as your full daily rewards build up. To deposit additional BUSD after auto-compounder is enabled you first have to disable auto-compounder (you can then re-enable it again after the deposit) Do note however this resets your compound schedule! For uninterrupted extra deposits depositing with secondary wallet or on the claim day is recommended. There is automation fee of 1% per compound/claim.
What is the Auto-compounder BOUNTY?
In the blockchain, in fact, nothing happens automatically until someone performs a transaction that triggers a given function, in this case auto-compounding. In other projects of this kind dev calls auto-compounding function every x hours.
We present BOUNTY functions to encourage investors to participate in the life of BlitzMiner and to reward them in addition.
So, how does this work? You, as an investor (which bought at least 250 BUSD of BlitzMiner), can trigger auto-compounding for everyone in exchange for a permanent 0.1 percent compounding boost. This function can be called every 12 hours on first come first served basis. Same address can't trigger this function twice in the row. Max 5 bounty per address.
How do I make another deposit with auto-compounder enabled?
Depositing more BUSD while auto-compounder is turned on cannot be done without disabling auto-compounder first. Disabling auto-compounder resets your current 6-1 cycle and multiplier bonuses.
Solution: deposit BUSD using a different wallet so you do not reset your rewards cycle.
Alternatively, you can follow the below steps:
On your 7th day of auto-compounding (claim day), click the 'Disable Auto-compounding' before your rewards timer runs out. To be safe, do this with at least 30 minutes remaining on the timer (00:30:00).
Wait until you have 30 minutes (00:30:00) remaining on your rewards timer.
Manually claim your rewards using the 'Claim current rewards' button.
Approve BUSD for the amount you want to deposit first. Enter the amount of the BUSD you want to deposit and hit the 'Buy BLITZMINER' button.
Click 'Enable Auto-compounding' to re-enable auto-compounding.
Blitz token integration and bonus tiers
Holding the Blitz token gives extra bonuses in a tiered system. Every compound will increase your compound bonus by the amount of the tier you are in. For example if you are on your 4th compound and have 68000 Blitz tokens (tier 5) you will have a compound bonus of 4%. The maximum bonus that can be achieved with tier 5 is 12.1% on the claim day. After a compound cycle of 11 compounds this bonus is reset.
Tier 1: 5000 BLITZ gives a stacking 0.1% compounding bonus with each compound up to 1.1%
Tier 2: 15000 BLITZ gives a stacking 0.2% compounding bonus with each compound up to 2.2%
Tier 3: 22000 BLITZ gives a stacking 0.3% compounding bonus with each compound up to 3.3%
Tier 4: 34000 BLITZ gives a stacking 0.5% compounding bonus with each compound up to 5.5%
Tier 5: 68000 BLITZ gives a stacking 1% compounding bonus with each compound up to 11%
An additional stacking 0.1% compounding bonus up to 1.1% is given as a loyalty bonus to anyone who holds over 34000 Blitz tokens. This loyalty bonus stacks with the bonus tiers. Extra referral bonuses based on the number of Blitz tokens held, increasing referral bonus to 9.2%! Part of taxes will be used to buyback $BLITZ and support the Blitz Labs ecosystem.
To be eligible for the tier bonus, you must have tokens in your wallet; staked tokens are ineligible.
Is this sustainable?
Yes, as long as there is TVL in the contract then there will always be rewards. BlitzMiner is the latest development in miner contracts and has the following features aimed specifically at sustainability:
A 24 hours earnings accumulation cut-off,
A mandatory compound system where if a claim is made before someone has compounded 11 times a withdrawal penalty is paid,
This withdrawal penalty of 60% is locked into the contract as TVL.
What is the best yield strategy?
We recommend compounding/re-fueling for 6 days, and claiming once a week. Taking into account the mandatory compound system this means that if you are not using the auto-compounder feature (which automates all actions) compounding every 12-14 hours will result in a claim window on the 7th day.
I bought 100 BUSD worth of BLITZMINER but i only see xxxx BLITZMINER, where did my BUSD go?
The BUSD is automatically used to hire miners, which create your BlitzMiner yield.
Can I track my referrals?
Yes, the BlitzMiner BUSD miner shows your total referral rewards and your referral count. All other data and transactions are publicly available on BscScan.
What happens to my earnings if I make a new deposit?
If you have earnings that have been unclaimed these will automatically be compounded when you make another deposit.
My rewards are gone after compounding moment, what happened?
Compounding is the process in which an asset’s earnings, from either capital gains or interest, are reinvested to generate additional earnings over time.
This means your current rewards were re-invested (into BLITZMINERs). As a result, you have more BLITZMINERs, meaning your daily yield is higher, meaning you will get more BUSD on day 7th of the cycle.
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