A machine you mine on, with the rig you already own.
Difficulty is counted in bits. Each bit doubles the work. The target tightens by a bit whenever a window beats it, and loosens only when a window comes in at a quarter of it or less, and never below the bits it starts at. Between those it holds.
Burn the token and take the vault's NVDA. Your slice pays out in NVDA, or in kind if the pool is dead. What stays raises the backing of everyone who remains.
Trade the token against USDG on the pool, quoted before you sign. The hook takes its fee for the machine.
A quote leaves your device only when you ask for one, to the router named in the page's policy. Nothing else does.
A redemption pays you in NVDA.
The symbol is the face. The mark is the hash.
The token's symbol is the face itself, 11 codepoints. The mark is keccak256 of the word HASHCOIN: its first eight bytes, one byte per row, a cell where the bit is one and a hole where it is zero. Anyone can recompute it.
A proof-of-work token on Robinhood Chain. It exists only by mining: no premine, no round, no vesting, and no mint but the Miner contract. The cap is 21,000,000 and a token is only ever created by finding a share and paying the claim price for it. Once minted it also trades on the pool. Behind it is a vault the protocol owns, holding tokenised NVDA and USDG. Read WHAT BACKS IT before you believe that sentence, because neither asset is quite what its name says.
A share is a nonce whose keccak256, hashed with a recent block and your own address, lands below the target. The seed is a block hash. Your first batch pins it and it lives until its window closes, so a rig mines one seed and sends one batch per window, and nothing can be precomputed before the block exists. And because your address is inside the hash, nobody can steal a solution by watching the mempool and resubmitting it. Anyone may carry a batch to chain: the address in the hash fixes the credit. Nonces in a batch go up, and the chain keeps only the highest winning one per seed and miner, so a batch costs one write however much work it carries. The work is integer hashing, which does not care about tensor cores. That is why a consumer card is not far behind a datacentre one.
Difficulty is measured in bits: the target is two to the minus N, so each bit doubles the work. It starts at 31 bits, which is also its floor, and moves at most one bit per window, on real elapsed time. It is not symmetric: it tightens whenever a window beats the target, but loosens only when a window comes in at a quarter of it or less, never below 31 bits, and holds between the two. A quiet network is never handed a cheaper puzzle. It is paid less instead, as WINDOWS explains.
A window is 3,125 blocks, five to the fifth, which is about five minutes at the nominal block time. The target is 8,518 shares per window across the whole network, and half of it, 4,259, releases a full window. Under 4,259 shares a window mints its shares divided by 4,259 of its emission: each share earns a fixed amount and the rest is never minted, so few miners means few tokens. From 4,259 shares on, the window pays in full, split pro rata. One 510 MH/s rig alone finds about 74 shares a window, about 1.74 per cent of a full one, and a full window takes about 57 such rigs. Splitting one rig across many wallets earns nothing extra.
A share unclaimed after 288 windows returns to the cap. It is not paid to someone else and it is not burned: it goes back to the unmined supply for whoever finds it next. This is the one deadline in the protocol that can cost you something while you do nothing, because claiming is a transaction you have to send.
The cap is 21,000,000 tokens in 8 tranches of 2,625,000. A tranche ends when its 2,625,000 are minted, never on a clock, and emission per window halves at each tranche. The durations you see quoted, 8.5h, 17h, 34h and on out to 45 days, are a forecast that holds only while the network hits the share target, not a rule: a network above the full-emission count gains nothing, because a window never pays more than its full emission, and a smaller one mints less and arrives later, and mine-out lands near 90 days on that same forecast.
The first 276 windows, about a day, climb to full emission from a floor of 5 per cent. The first tranche alone is an eighth of the entire cap. The ramp slows the first day for everyone, and a lone rig is held to its own shares' worth, as WINDOWS explains: two brakes on an early sweep. The floor exists for the opposite reason: a first window worth one 276th of a full one pays almost nothing and nobody watches that, so the floor lifts roughly the first hour and leaves the rest of the ramp where it was.
Shares are internal accounting. To turn them into tokens you pay USDG at the claim price: the greater of that tranche's price floor and the backing per token times K. K is flat at 1.0530. What rises is the floor, one rung per tranche, from 0.005 to 0.008518 USDG. A later claim always costs more, so it overfunds everyone before it. USDG is a dollar stablecoin, so that is the dollar price. You pick any share of what you mined, from none of it to all of it, and pay with one token or several: the zap turns them all into USDG in one transaction and refunds what is left over. A claim ends the run: whatever you do not buy, the window still open included, returns to the cap at once, unminted. To claim again, mine from zero. Or claim together. Any wallet can fund your card, you set the most it pays per token, and anyone may claim for every funded card at once: the same price, the same split, the tokens to you. Only you can withdraw your card.
Every claim and every hook fee splits 69/21/5/5: vault, conditional leg, permanent pool, team. Backing gets 74 per cent always, the vault's 69 plus the permanent 5, and the conditional 21 joins them while price is above backing. While that leg goes to the vault 95 per cent of a claim lands, and 0.95 times 1.0530 is more than 1, so the split never lowers backing per token. What can is the vault pool's swap fee of 0.05 per cent on the part the vault converts to NVDA: at most 40 parts per million of backing per token per claim. When the market trades below backing that leg becomes a bid instead, only 74 per cent reaches the vault, and backing per token does fall until the bid fills and burns the tokens it buys: deferred, not lost. It can also still fall if NVDA falls.
The vault holds tokenised NVDA and USDG, and neither is what its name says. A Stock Token is not a share: it is a debt security issued by Robinhood Assets (Jersey) Limited, giving economic exposure and, in the issuer's own words, no legal or beneficial right in NVIDIA, nor against NVIDIA. Splits and dividends move an onchain multiplier rather than your balance, so a token count is not a share count. Both it and the USDG are upgradeable proxies. Read on the explorer, the implementation can be paused and carries adminBurn. Our contracts cannot be changed. These can, by someone else.
Coverage is backing divided by price, and it moves. Three numbers, not one. OPEN is a tranche's first claim and CLOSE its last, with its own claims filling the vault between them. Tranche 0 opens at zero per cent because the vault is empty and the floor is the whole price, and CLOSE can never pass 95 per cent because the team's 5 per cent never enters backing. AT END is the final backing divided by what your cohort actually paid: 134 per cent for the first tranche down to 79 per cent for the last, because later and pricier claims overfund everyone before them. Those figures assume zero fees, zero burns, every token claimed, and the conditional leg routed to the vault.
Burn tokens and receive your slice of the vault, paid in NVDA (in kind, NVDA and USDG, once a dead pool is declared; that is terminal): 69 per cent yours, 21 per cent into the pool's permanent class (released 180 days after a dead pool), and 10 per cent back to the holders who stayed as redeemable NVDA. The team takes nothing from a burn. Your USDG leg is converted on the vault's own pool with a TWAP and a slippage guard, and if it cannot clear the whole burn reverts. Never a partial basket. The 31 per cent that stays is what makes a later burn worth more per token than an earlier one: the same money divided among fewer holders. If the permanent pool ever holds more than 31 per cent of the vault, a burn pays your share of the part that can leave, and the site shows it before you sign.
When the market trades below backing, the conditional leg becomes a bid: single-sided USDG sitting entirely under backing, with hysteresis so it cannot flap at the boundary. When price falls into it, USDG becomes token and the token is burned, and fewer tokens against the same vault lifts backing for everyone left. No keeper runs it. It is a resting order, filled by whoever sells into it. While it sits unfilled that money is outside backingPerToken, which is why a claim can lower backing by more than a pool fee in this one regime.
Every inflow to the vault splits three ways, 69/21/10, and the three do different things. 69 per cent is NVDA held: never lent, never sold, and every burn adds its 10 per cent here. 21 per cent is sleeve B, two-sided NVDA/USDG liquidity earning fees, and burns are paid from it too. The 5 per cent of every claim and the 21 per cent of every burn enter its permanent class: no burn pays it out and it backs the token, until 180 days after a dead pool is declared, when it joins what burns pay. 10 per cent is a dip ladder: USDG placed in steps below the day's price, deeper steps larger, that only ever buys NVDA and never sells, so its average cost sits under the market. The weights drift with use rather than being pulled back to a target. Swaps are guarded by the vault's own pool TWAP against spot, and that TWAP is an oracle: ours, on our own venue, with no third-party feed, but the vault is not oracle-free. The team's share sits apart and never enters a pro-rata sum, so it cannot reach backing. It leaves past 100 USDG.
A Uniswap v4 hook on the token/USDG pool charges 2: the only inflow that is not from miners. There is no launch fee and no presale. The pool gains a token side only when the first miner redeems and sells, so the first sale prices a USDG-only pool and whoever gets there first sets it. The fee splits the same 69/21/5/5 a claim does, so trading the token funds the thing that backs it.
Every claim splits 69/21/5/5, so backing gets 74 per cent always and 95 per cent while the conditional leg routes to the vault. The team is paid two ways: 5 per cent of a claim and 5 per cent of the hook fee, always in USDG and never in token. A burn pays it nothing. Over the whole run, with every token claimed and no fees or burns, 148,507 USDG is raised, 7,426 goes to the team and 141,081 to backing.
Every task rides on a transaction that was going to happen anyway: the retarget on the first share of a window, the deposit inside the claim, the rebalance on the next touch. No keeper, no cron, nothing waiting to be paid to act. Our contracts are immutable and have no owner: no pause, no upgrade, no admin key. The deployer wires once and holds nothing. That does not cover what backs them: the tokenised NVDA and the USDG are upgradeable proxies whose issuer can pause them. The token, Miner, Vault, Claim and Lens addresses end in 85A8, mined by CREATE2 salt, while the ClaimZap and PoolWatch are plain CREATE and do not: check the full address, never the tail, and the Hook ends in 0CC because v4 reads a hook's permissions from the address itself. This chain's block.number is the L1's, so the contracts count windows with ArbSys. Block.timestamp times only the retarget and deadlines, and prevrandao is never used as randomness.
Automated scanners flag this token for minting, burning and a fee. Each flag names a real permission, and each one belongs to a contract, not to a person. Only the Miner can mint, only against a valid share, and only inside the 21,000,000 cap the token enforces itself: one token past it and the call reverts. Only the Vault can burn, and it burns only from whoever calls it to redeem, or the hook's own tokens when the bid fills. No path burns a balance you did not send. Both roles were wired once at deploy, and a second wiring reverts with AlreadyWired, so neither can be pointed anywhere else. The hook's 2 is a constant in the bytecode: it cannot be raised, lowered or switched off. The source of every contract is verified, and the limits sit in the token's mint and burn, the Vault's redeem and burnFor, and the Hook's fee.
Nothing here is investment advice, a solicitation, or a promise of return. There is no premine, no round and no vesting, and a token is only ever created by mining a share and paying the claim. Whoever wrote these contracts cannot change them, which is precisely why who they are does not matter. A name would add nothing you could verify. Everything the contracts do is on this page and in the code they are tested against. Nothing is withheld except that name, which has no power.
Nonces go up in batches of up to 1,000, verified in a loop, so one transaction carries a lot of work. The miner runs in your browser on WebGPU and self-tests against a CPU keccak before it counts anything. Nothing leaves your device unasked: no analytics, no third-party script, no CDN font. The fonts, the audio and the maths are all served from here. Nothing is submitted unless you mine, and every number nobody measured prints as an em dash rather than as a guess.