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  • Writer's pictureDatamine Global

How to Profit Using Datamine Network - Strategy #2

Updated: Nov 24, 2022

Datamine is a complex DeFi ecosystem that offers ample ways to run a profitable mint. In this blog, we'll be breaking down a strategy you can use to run your mint.


 

Strategy Overview


The next level up in making a profit with Datamine is to use the burning mechanism. In Datamine, you burn FLUX tokens before minting to get a larger amount of FLUX as well as a permanent amount of FLUX burned to your address. Even if you unlock all of your DAM, come back in a year or 2, the amount burned will still count towards your burn rate.

 

Step 1: Achieve Your Time Bonus with the FLUX Mint

  • Lock your DAM to start your FLUX mint

if you do not know how to do this, view our first blog to learn how.

  • Wait 28 days to maximize time bonus. Time bonus starts after 24 hours of DAM locked in.


Step 2: Forecast your FLUX Mint


  • Slide Burn Bonus Multiplier to see amount to burn and new amount to mint for profit.



  • Buy desired amount of FLUX to burn from Uniswap.


Step 3: Burning and Selling FLUX





 

Conclusion


By doing this strategy, you effectively shave off X amount of time to mint more FLUX depending on amount of FLUX burned. So if you minted FLUX after 1 month and burned enough for a 2x bonus, you effectively minted 2 months of FLUX in 1 month. Also, you have now actively contributed to decreasing the supply of FLUX.

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