08 Sep 2022 · 6 min read

Why Copium Protocol is Set to Disrupt Cloud Mining this Year

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

For the longest time, crypto mining was confined to the well-off who could afford the mammoth resources it demands. The hard-to-crack mining jargon further drove people away. 

This is where cloud mining came in. It promised to decentralize crypto mining, empowering anyone to remotely join crypto mining pools for a basic cost with little to no technical knowledge. It involved renting mining hardware or hash power from third-party sources.

However, the enthusiasm didn’t last long. While most cloud mining platforms succeeded in lowering the initial investment barrier to crypto mining, the technical barrier remained too high for everyday investors to break in. 

Due to the lack of usability and negligible returns, cloud mining platforms failed to live up to expectations. While the concept has massive potential, we are yet to see it unfold.

Copium Protocol is a new crypto mining investment ecosystem that has been creating waves in the market since its project announcement. Although the platform doesn’t fit into the traditional definitions of cloud mining, it aims to decentralize crypto mining with a novel approach. 

In this article, we take a closer look at Copium Protocol and how the ecosystem delivers its mission. Will it disrupt cloud mining as we know it? Let’s find out. 

What is Copium Protocol

Copium Protocol is a multi-pronged mining investment project based on the Ethereum blockchain. The project is centered around Copium Mining, a crypto mining company registered in New Zealand. 

As Copium Mining expands its infrastructure, it brings some attractive investment opportunities to the public, leveraging cryptocurrencies and NFTs. 

Even if you are new to cryptocurrencies and crypto mining, the platform promises to help you make a profit from the ecosystem. It eliminates the restrictions of cloud mining, providing investors with a straightforward, easy-to-use solution. 

How Does it Work?

The Copium Protocol ecosystem has four pillars — Copium Coin, Copium Investor Pass, Copium Mining, and Copium Staking. Let’s understand how they contribute to the platform’s goal to decentralize crypto mining. 

1. Copium Coin (ERC-20 token)

Copium Coin is the ERC-20 token that fuels the Copium Protocol ecosystem. It serves a wide range of utilities in the ecosystem, which will be unveiled as the platform grows and evolves. The key role of Copium Coin will be facilitating the staking reward system that is central to the ecosystem. 

You can stake your Copium Coin holdings for locked and unlocked periods in exchange for attractive yields. The rate of interest will vary depending on the locked period of the selected staking contract. 

The longer you keep your Copium Coins in the staking contract, the higher the rate of interest. You can unstake the tokens along with the rewards when the contract expires. 

The token will have a total supply of 1B. Since Copium Coin is an ERC-20 token, you can store it in any wallet that supports Ethereum. 

2. Copium Investor Pass (NFT)

Another key asset on Copium Protocol is Copium Investor Pass, an Ethereum-based NFT collection. As a holder of Copium Investor Pass, you become eligible for a wide range of perks and privileges in the Copium Protocol ecosystem. 

Additionally, you can stake your Copium Investor Pass in exchange for attractive yields. The platform distributes ten Copium Coins per staked Investor Pass for a guaranteed period of 24 months. 

The ecosystem shows appreciation to Copium Investor Pass holders for their early-stage support with the following benefits: 

  • Exclusive one-off airdrop of 10,000 Copium Coins via a gas-only transaction
  • Exclusive rates when staking Copium Coin holdings
  • Eligibility for the draw to win 1 of 2 Bitcoin giveaways
  • Automatic entry into monthly Copium giveaways

3. Copium Mining 

The Copium Protocol ecosystem is designed around Copium Mining. The company’s largest mining facility is located in an isolated town in NZ. It is completely powered by a surplus of 100% clean, renewable hydroelectricity generated locally. 

The ideal location of the mining facility allows Copium Mining to run an efficient, profitable business model. Apart from that, the company has several mining facilities across the globe. 

So, what is Copium Mining’s role in the Copium Protocol ecosystem?

The project uses the funds collected from the sale of the Copium Protocol Investor Pass collection to upgrade the company’s mining infrastructure. 

The existing relationships with leading suppliers help it procure wholesale quantities of the latest and most power-efficient generation of miners at lower prices.

 In addition to that, the proceeds will be used to upgrade infrastructure and capacity at the existing Copium Mining facility. 

In essence, Copium Investor Pass NFTs and Copium Coins are indirect investments in Copium Mining. The platform has well-defined staking and burning mechanisms in place to distribute a share of the revenue generated from the upgraded infrastructure to investors.

The protocol buys back Copium Coins from the open market using the revenue generated by the Copium Mining facility. The tokens are then sent to a burn address to bring down the circulating supply. 

The deflationary mechanism goes a long way in sustaining the value of the token in the market in the long term. It encourages investors to stake their Copium Coin holdings and Investor Pass NFTs despite the ups and downs in the market. 

4. Copium Staking Platform

You can stake your Copium Coins and Investor Pass in the Copium Staking Platform, which is expected to go live after the launch of the Investor Pass NFT collection and Copium Coins. 

The staking dashboard allows you to check the interest rates and potential earnings before you sign the staking contract. Since the platform is noncustodial, you retain the ownership of your assets during the staking period. 

Copium Staking Platform charges no penalty for premature unstaking. But there is a catch. If you exit a time-locked staking contract early, you will have to forfeit all the interest accrued by your staked assets.

How Copium Protocol Reinvents Cloud Mining 

As you can see, Copium Protocol takes an innovative approach to bringing crypto mining to the masses. Rather than renting hardware or hash power, the project upgrades its mining infrastructure and shares its benefits with users through an advanced investment ecosystem. 

Copium Protocol creates a new paradigm for crypto mining with these competitive advantages: 

  • Real passive income opportunities
  • No hardware or software requirements
  • Higher returns than traditional cloud mining platforms
  • Green mining

Conclusion 

Copium Investor Pass NFT collection will be launched via a Dutch auction scheduled for early-mid October. While the price of each NFT will start at 3.5 ETH, you can get them for a discounted price of 3 ETH by registering early. 

The first 2000 people to pre-register via the pre-mint link published on the Copium Protocol website are eligible for the discount. 

Copium Coin will also be launched around the same time, debuting its exchange listing with Uniswap. 

However, you can get them early by participating in the presale that is scheduled to run for 60 days before the public launch. The presale price is $0.10 per Copium Coin, offering the cheapest way into the project. 

Visit Copium Protocol