TOM Finance Mining Closes Today, Unmined TOM will be Burned
Hong Kong-based cryptocurrency service provider TMTG Enterprise HK Limited announced the closing of the first season of its TMTG DeFi project TOM Finance today.
The closing time was delayed than expected due to the Ethereum network. As of 10:00 am Jan 13, 2021, the Ethereum block number is 11,643,562, and the remaining number of blocks until the completion of the mining is 3,405. Although the actual closing time will be affected by variables, it is expected that TOM mining completion time is 10:11 pm, Jan. 13.
TOM mining participants are required to unstake their LP tokens staked on TOM Finance DeFi platform. The participants can retrieve the TMTG and LBXC provided to the liquidity pool only after they have unstaked the LP tokens. Once the mining is complete, all the unmined volume out of the total supply of 25,000 will be burned. The number of unmined TOM is expected to be 2,087.
Following the TOM mining, the second season of TOM Finance will begin immediately, from Thur. Jan. 14. The second season will feature DeFi DEX TOMSWAP platform developed by the company. The DEX provides swaps and liquidity pools, as well as TOM2 mining. The platform will also have a mining pool using TOM, with four times the leverage.
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