It is a new concept that comes with Validator. It aims to reduce gas fees by 90% until it passes the Ethereum Pos system. The system aims to reimburse the user 32 Ether gas fee by locking or burning VALX worth 3.2 Ether.
When the participant's gas spend reaches 3.2 Ethereum, VALX tokens are is sent to the participating address. This process is repeated ten times in a single entry.
Attention; If you are not constantly consuming gas, it may not be beneficial for you.
To prevent loss of value, participants need to lock or burn 3.2 Ethereum worth of Valx. The participation fee is 3.200.000 VALX according to the instant values.
3.2 Ether Value (Currently 3,200,000 VALX)
To start mining, 3.2 Ethereum or 3.2 Ethereum value VALX is sent to the address below.
When the gas fee spent by the addresses you initiate the locking process reaches 3.2 Ether, 3.2 Ethereum worth of VALX from the contract is automatically transferred to your wallet. This process is repeated ten times in a single locking operation.
For every 3.2 Ethereum worth of VALX mined, 10% is deducted tokens from the locked VALX.
Participation and withdrawal from Mining will soon be contract dependent. You will be able to withdraw accumulated VALX instantly. But if you want to mine in advance, the following rule will apply to withdraw from mining.
**To withdraw currently locked tokens, you need to send 1 VALX to the same address.
At 3.2 Ethereum, it is burnable using the VALX Incinerate function.
or directly 0x0000000000000000000000000000000000000000
sent to the burning address.
When the gas fee spent by the addresses you initiate the burning process reaches 3.2 Ether, 3.2 Ethereum worth of VALX from the contract is automatically transferred to your wallet.This process is repeated ten times in a single combustion process.