Concepts
Mining Shares
Tradeable on-chain proof-of-work assets
What is a Mining Share?
A mining share in m1n3 is a verified proof-of-work submission recorded on the Sui blockchain. Unlike traditional pools where shares are just internal accounting entries, m1n3 shares are on-chain assets that can be traded on the marketplace.
Share Types
m1n3 supports two share submission modes:
| Type | Description | Gas Cost |
|---|---|---|
| Full (NFT) | Creates a MiningShare NFT on Sui, tradeable on the marketplace | Standard |
| Lite (Event) | Recorded as an event only (no NFT), ~84% gas savings | Reduced |
Lite shares save significant gas costs but cannot be traded on the marketplace. They still count toward pool statistics and block-finding eligibility.
Share Lifecycle
- Submission — Miner finds a hash meeting the pool's difficulty target
- Verification — Sui's native SHA-256 function verifies the double-hash on-chain
- Recording — Share is minted as an NFT (full) or emitted as an event (lite)
- Trading — Full shares can be listed on the marketplace immediately
- Redemption — When a block is found, share holders can redeem BTC rewards
Trading & Fees
- 2% Transfer Tax — Applied when shares are traded on the marketplace
- Zero Cost for Holders — Miners who hold and redeem their own shares pay nothing
- Instant Liquidity — Sell a share the moment it's minted, bypassing the 100-block maturation wait
Comparison: Most mining pools charge 2% on all rewards. m1n3 charges 0% pool fees. The 2% tax only applies when shares are traded, and it goes directly to M1N3 stakers — not to a pool operator.