Kuro Shiba Gem Mine Live on Harmony Mainnet!

4 min readJul 12, 2021

We are excited to announce that the Kuro Shiba Gem Mine, $KURO, will open for registration on block 15,155,221 on Harmony’s Mainnet!

$KURO Mine:

You can access the KURO Mine on TokenJenny (and, in the future, mining will also be available directly on kuroshiba.one).

Here’s what we love about the KURO Mine, which improves on conventional “mining” or “farming” with the following key innovations:

There is no staking or risk of impermanent loss. Entry into the KURO Mine requires a one-time fee of 100 JENN per wallet. Once paid, your wallet is enrolled to mine until the mine is depleted.
Rewards are unlocked immediately. As soon as the KURO Mine says you can claim them, they are yours to claim and do with as you please. Sell, swap, or keep your KURO — totally up to you!
The emission is dynamic and rewards per block per wallet are static. Instead of rewards depending on your “pool share” like on a DEX, your rewards will depend on the “amount of time mined.” From TokenJenny.ONE:

So the more wallets entered, the higher the “emission” and the shorter the mining period, benefiting the early birds while not punishing those getting in later in the mines life. Versus the more “weighted” entrance, where the higher the “pool share” the more paid out, reducing how much is earned by the smaller investors, lop-siding fairness and distribution.

KURO Mine Planner and Estimated Rewards.

To explain how we arrived at the 100 JENN entry fee and 0.02 $KURO rewards per block, let’s talk numbers.

The price of $KURO at the time of writing this Medium post is $0.00025161714, giving KURO a total market cap of $125,808.57. Factoring in this extremely low market cap and the imminent incentivized pool on ViperSwap, the team made a judgment call that the price of KURO is likely to increase quite a bit as a result.

Accordingly, the entry fee is calculated to be recouped based on the assumption that the JENN:KURO ratio might be something like 1:300 as a result of the incentivized Viper pool. The JENN:KURO ratio is currently 1:2400, so this assumes an 8x in price, resulting in a ~$1,006,468.56 market cap.

It is important to note that this assumption is just that — an assumption. It’s impossible to predict the price of any coin or token, but the KURO team decided to factor in the low market cap and the potential price action we might see given the Viper pool.

Ultimately, the KURO Mine is designed to reward long-term miners without causing a massive dump after a likely increase in per-token price.

Based on the above assumption, we determined that:

100 JENN entry fee will be recouped in ~42 days at 2.44s block time, or
100 JENN entry fee will be recouped in ~34 days at 2s block time.

If there’s anything confusing about this calculation, feel free to hop in our Discord and ask for clarification. Please mine responsibly!

Miner Perks:

To sweeten the mine, we will be giving away 25,000 KURO each, to 10 lucky miners who register for the KURO Gem Mine before block 15,400,000. No need to do anything else to qualify — just start mining! We’ll announce winners and send out rewards shortly after block 15,400,000. ✨💎⛏

How to Mine $KURO:

Mining KURO could not be easier, thanks to TokenJenny. Here’s how to enter the mine and start earning, in just a few simple steps:

Registration opening in just a few blocks!

Go to the KURO Gem Mine and make sure your MetaMask wallet is connected to Harmony Mainnet. If you need help setting up your MetaMask wallet, click here and follow steps 1–2.
Click the “Approve” button. Approving gives the KURO Mine contract permission to withdraw the 100 JENN entry fee from your wallet. Click here to buy $JENN on ViperSwap.
Click the “Enter” button. Entering the mine will enroll your wallet in the list of rewards distributions from the block that you entered on. Without entering, you will not earn any rewards. And, the earlier you start mining, the more $KURO you’ll mine compared to others who enter after you.
Start earning and claiming your $KURO! You can now claim the $KURO you’ve earned, at any time. Your rewards are 100% unlocked per the KURO Mine contracts, and you can click “Claim” any time to receive KURO in your wallet to sell, swap, or keep.

That’s it! You are now earning $KURO, supporting our community projects like Kuro Shiba and TokenJenny, and most importantly, supporting the Harmony network!

Thanks so much to TokenJenny.ONE for this fun opportunity, and thank you to the community for your continued support and enthusiasm.

Happy mining!