How it Works

What is Short-Term Mining?

Filecoin short-term mining allows individuals to earn FIL by providing Filecoin storage providers (SPs) the FIL collateral they need to store data on the Filecoin Blockchain. With the Short-Term mining model, users can earn a daily reward based on the amount of FIL they pledge. Instead of waiting as long as 540 days to receive their pledge, short-term miners can choose between 30 days, 90 days, 180 days, or 360 days giving the miners the flexibility to mine on their own terms instead of being locked into typical long-term storage agreements.

Power Meta Corp is the technical provider that has developed a cutting-edge smart contract that guarantees FIL miners share their rewards with short-term miners before they can claim their rewards. Our smart contract effectively manages and secures the ownership of nodes, with the addresses being conveniently listed in the final section of our web portal.

Daily earnings are provided by storage provider nodes listed in the Storage Provider tab and are automatically deposited into your Metamask account. Once the mining period concludes, your initial pledge will be transferred automatically to your Metamask. Plus, you have the flexibility to withdraw your eFIL to FIL anytime using the Ararat site. Dive into earnings today!

Step-by-Step Guide:

Step 1: Navigate to 🖱

Step 2: Log into your Metamask account 🦊

Step 3: Choose Your Short-Term Mine 🔒 Secure your FIL tokens by entering the amount you want to short-term mine.

Step 4: Set Your Timeline ⏳ Decide how long you'd like to short-term mine your FIL – it's in your hands.

Step 5: Let's Begin 🚀 Click "Start" and watch your staking journey take off!

Step 6: Confirm the Magic 🪄 A MetaMask pop-up will appear, just click "Confirm" and patiently await processing.

Step 7: Time to Relax ⌛ Kick back while your transaction gets finalized.

Step 8: Harvest Your Rewards 💰 As soon as it's done, you'll find your well-earned eFIL right in your wallet.

Step 9: Once the mining period is complete, navigate to and log in using your Metmask account 🦊

Step 10: Cash out your Rewards 💸 Click on Swap to enter your F4 wallet address and amount of eFIL you would like to swap for FIL

Last updated