ZMC is the digital asset proof issued by BitSE, it is the rights of equity of Zcash United Mining project. This mining project is held by BitSE. ZMC holders will get ZEC mining profits everyday. YUNBI is in charge of distributing the mining profits.
What is ZMC?
ZMC is short for Zcash Mining Coin, it is the rights of equity of Zcash United Mining project. The hash rate of each ZMC increase from 0.029 H/s to 0.05 H/s, the participants use ZMC as rights for ZEC mining shares. It will continue share mining profits (ZEC) until the first halving of Zcash. If a user holds ZMC on his account, he will receive the mining profits proportionally each day on 4:00 a.m. The profits settlement will be in ZEC.
How ZMC are generated?
ZMC is issued by: BitSE
ZMC is generated from the ICO Zcash Unites Mining. There were two ICOs of ZMC.
The first ICO raised 1000 BTC and generated 1,000,000 ZMC. The issuing ratio of ZMC to BTC is 1000:1.
For business development purpose, BitSE issued the second ZMC ICO with the amount of 15,000,000. After one month of the second ZMC ICO, the newly issued ICO will be ready to move to the second market, they will share the mining profits from Jan 10th, 2017.
How to share out the mining profits?
ZMC profits sharing period will be effective until the end of first halving of Zcash. ZMC will be functioning until the first halving of Zcash on Block Height 840,000 (approximately 4 years).
After first halving, BitSE will assess the project and determine whether ZMC mining service could prolong for other 4 years.
ZMC trading will be prolonged as long as ZMC can has mining profits sharing ability.
The official site of BitSE: https://bitse.com