Virtual mining in the Phoenix Gold Network involves purchasing a virtual mining device that generates Phoenix Gold Coins (PGC) daily. This innovative approach to mining allows participants to contribute to the network's liquidity and growth without the need for physical mining hardware.

When you purchase a virtual mining device, 90% of the payment (made in POL) is allocated to a liquidity pool within the mining smart contract. This ensures that you can sell your device back instantly, promoting liquidity and stability within the Phoenix Gold Network.

The price of virtual mining devices is dynamically managed by a bonding curve in the smart contract, meaning that, the more devices that are in operation, the higher the price for new devices will be. This system encourages early participation and rewards miners for their contribution to the network's growth.

There is a 10% fee for buying or selling virtual mining devices. Half of this fee is used to enhance PGC liquidity on DeFi exchanges, supporting the overall health and accessibility of the Phoenix Gold Network.

Mined PGC can be claimed every 24 hours directly from the smart contract. You have the flexibility to swap half of your daily mined PGC for USDC or POL immediately, while the other half is locked for a year to ensure long-term participation and network stability.

If you don't claim your mined PGC daily, it accumulates regardless — but with a one-day penalty for each day you delay. For example, if you claim after 2 days, you will receive PGC equivalent to 1 day of mining. This mechanism encourages regular participation and engagement within the Phoenix Gold Network.