Glossary

Plain-language definitions for the WHEELY9000, Squeeks, $SQK, staking, work records, and the technical terms used in the docs.

TL;DR

• The WHEELY9000 is the physical device; a Squeek is an NFT whose level sets the base power it adds once deposited in Staking.
• $SQK is the token Mining issues for completed Squeek blocks and funds Staking with; work units measure the hamster's activity.
• Settlement, funding, and claiming are separate steps.

Everyday terms

WHEELY9000 : The hamster mining device: a wheel-mounted magnet, a sensor, and small computers that record wheel activity.

Squeek : The project's NFT. Its level sets the base power it adds when deposited in Staking; level and merge cooldown stay with it when it changes hands.

$SQK : Squeekchain's token, issued for completed Squeek blocks up to a lifetime supply cap.

SqueekFi : Squeekchain's ecosystem for hamster-powered onchain finance, built on the public work record and $SQK.

Mining : What the hamster does: his wheel work completes Squeek blocks, a form of proof of work.

Proof of Squeek : Squeekchain's staking system for distributing $SQK: rewards go to stakers by power, and a Squeek counts only while deposited. See Staking.

Staking : Depositing Squeeks or staking $SQK so you earn a share of issued $SQK. Staking records your deposited Squeeks, staked $SQK, power, and earned rewards. Unstaking $SQK costs an exit fee.

Exit fee : The fee for unstaking $SQK, burned in full. It's 2% when few people are leaving and rises with exit pressure, the share of staked $SQK unstaked over the past week, to 60% when a fifth leaves. Withdrawing Squeeks and claiming rewards are free. See Unstaking $SQK.

Issuance : The $SQK Mining issues under the schedule; Mining funds Staking with all of it. See Checkpoint.

Power : What you earn with: the base power of your deposited Squeeks plus the power of your staked $SQK, boosted by those Squeeks. Deposits, withdrawals, stakes, unstakes, and deposited merges change it immediately; your share is your power divided by all power.

Rewards : The $SQK you earn. Rewards collect in Staking until you claim them; no Squeek holds them.

Reward stream : How Staking pays out funded $SQK: each funding joins the unreleased balance, and the total streams over the next 20 minutes, shared by power. The stream pauses while no power is staked.

Claim : A transaction, paid with a network fee, that pays your earned rewards to your wallet or claim recipient.

Claim recipient : An address you name to receive your claims. While it's set, only that address can claim your rewards.

Unclaimed rewards : Rewards earned but not yet claimed or restaked. They stay in Staking when you withdraw or transfer a Squeek.

Checkpoint : An update that processes settled rounds, issues $SQK for their newly completed Squeek blocks after Mining starts, and funds Staking with it.

Hamster proof of work : Squeekchain's record of accepted wheel-magnet passages.

Work unit : One accepted magnet passage recorded by the device.

Round : A ten-minute period that groups measured work. The device saves every round's total, recording rounds missed while stopped as zero.

Squeek block : One billion earned block units. Settled work earns units at each round's difficulty.

Ethereum block : A block of Ethereum transactions, separate from Squeek blocks. Later blocks add confirmations to earlier transactions.

Progress terms

Stages the same work passes through.

Observed : Measured or estimated from device data; check which source a displayed value uses.

Accepted : For a passage, counted and saved by the device; for a record, approved by the Oracle as eligible to settle.

Verified : A record passed the Oracle's checks.

Optimistic / projected : An estimate assuming pending work is recorded as expected; not settled work or a payment.

Submitted : Sent to Ethereum and waiting to succeed and gather confirmations.

Settled : Recorded on Ethereum by SqueekCore. Public views also wait for their required confirmations.

Funded : Issued by a checkpoint and delivered to Staking, ready to stream to stakers.

Claimed : A completed claim transaction. Check its actual payout; the public view may show pending claims separately.