GoMining Launches Instant Funds for Digital Miner Borrowing
GoMining has launched 'Instant Funds', a feature that allows eligible digital miner holders to borrow USDT or USDC against their NFT miners without selling them. This move extends GoMining's push beyond tokenised hashrate into payment and earning products.
The feature, previously in closed mode, lets users lock an eligible NFT miner and access up to 30% of its collateral value, starting at $5, with a total cap of $10,000 per user across any number of positions. Positions run 30-day terms at 0% APR with mandatory automatic renewal.
An origination fee of 1.5% to 2.5%, depending on the user's VIP level, applies when a position opens and at each renewal. If a position hits the 60% loan-to-value liquidation threshold, it enters a seven-day buyback period, during which mining rewards are forfeited.