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OIL uses a refining system to reward miners who are patient and hold their mining rewards longer. Instead of receiving instantly “final” OIL, your mining rewards are first tracked as crude OIL. Crude OIL When you win a round or deploy to the winning block, you earn crude OIL. Claim = Refining (10% fee) When you press Claim, the protocol:
  • Converts your Crude OIL into refined OIL
  • Takes a 10% refining fee on the amount you claim
Who gets the 10% fee?
  • It is redistributed to all miners who still hold crude OIL (have not claimed yet), proportional to their crude balance.
Refined OIL Refined OIL is fee-free and accumulates automatically as others claim their crude OIL. When you claim, you receive 100% of your refined OIL plus 90% of your crude OIL (after the 10% fee).