Sepolia

$SQK & Tokenomics

$SQK's economic design: a one-time premint, then a halving schedule over completed Squeek blocks, all funding Staking, up to a 2.1 billion lifetime cap.

TL;DR

  • $SQK has a fixed lifetime cap of 2.1 billion. A one-time premint comes first, and completed Squeek blocks issue the rest.
  • Issuance follows a schedule: a launch bonus, then three periods whose rate halves each time.
  • Mining funds Staking with all issued $SQK. Stake Squeeks and $SQK to earn a share, and claim it from Staking.

Where $SQK comes from

$SQK comes from a one-time premint and from the hamster's completed Squeek blocks:

  1. The hamster runs on the WHEELY9000; each accepted wheel-magnet passage is one work unit.
  2. Work settled on Ethereum earns progress toward Squeek blocks at each round's difficulty.
  3. Once issuance has started, a checkpoint issues $SQK for newly completed blocks, on the schedule.
  4. Mining funds Staking with all of it, and Staking streams it to stakers by power.
  5. You claim your rewards to your wallet, where $SQK is an ERC-20 token.

Settled wheel activity creates block progress at each round's difficulty, and completed blocks drive issuance.

How issuance works

The 2,100,000,000 $SQK lifetime cap counts every $SQK ever minted, premint included. The cap minus the premint is the issuance allowance, which the schedule issues over Squeek blocks completed after issuance starts:

  • A launch bonus is spread evenly over a fixed number of early blocks.
  • The rest is issued over three halving periods of equal length, each at half the rate of the one before.
  • Blocks completed before issuance starts never issue $SQK, and issuance ends with the third period.

The premint, the launch bonus and its window, and the period length are deployment values; Launch configuration lists them for the Sepolia testnet, and How $SQK is issued explains the schedule.

Burning $SQK lowers circulating supply without reopening the cap, and only Mining can mint. Only the admin can upgrade Mining and Staking, through a public, time-delayed process. These supply figures aren't a sale promise or an earnings forecast.

How you earn $SQK

Your power comes from the Squeeks you've deposited and the $SQK you've staked, and it sets your share of each checkpoint's $SQK. Staking explains power, the reward stream and the fee for unstaking $SQK.

In this section

  • The $SQK token - The token itself: premint, lifetime cap, burns and standard ERC-20 transfers.
  • How $SQK is issued - The launch bonus, the three halving periods, the start cutoff and the cap.
  • Staking - Deposit Squeeks and stake $SQK to earn, and what withdrawing or unstaking costs.
  • Checkpoints - The update that turns completed blocks into $SQK and funds Staking.
  • Claiming rewards - Pay your rewards to your wallet, or compound them.
  • Supply limits and rounding - Circulating, burned and lifetime supply, where $SQK is held, and how fractions are kept.
  • SqueekFi - Hamster-powered onchain finance, and the kinds of projects that can build on the work record and $SQK.