What is Squeekchain?
How a physical hamster wheel produces Squeek blocks on Ethereum, how their $SQK funds staking, and where SqueekFi fits.
TL;DR
- The WHEELY9000 records wheel activity; Ethereum holds the settled work record.
- Settled work completes Squeek blocks, and each block's scheduled $SQK goes to Staking.
- Stake your Squeeks and $SQK to earn a share, then claim your rewards to a wallet; anyone can follow the system.
The physical and digital sides
Squeekchain turns activity on a hamster wheel you can watch into $SQK rewards. A sensor on the WHEELY9000 records wheel activity, and verified work settles on Ethereum.
Settled work completes Squeek blocks. Once rewards start, each completed block issues $SQK on a fixed schedule: a launch bonus, then three periods that each issue at half the rate of the one before, up to a lifetime cap of 2.1 billion. All of it goes to Staking.
To earn, you stake your Squeeks and $SQK. Squeeks, the project's NFTs, are the main source of power: the higher a Squeek's level, the more power it adds. Staked $SQK adds power on top, and your Squeeks multiply it. Staking shares each block's $SQK by power, and rewards collect in Staking until you claim them.
SqueekFi builds hamster-powered onchain finance on the same work record and token.
What you can do
Anyone can follow the device and explore public status with no wallet. Once you have a Squeek in your wallet, you can transfer it, deposit it in Staking, or merge two eligible same-level Squeeks into one a level higher; Getting a Squeek covers how to get one. You can also stake $SQK, claim your rewards, or restake them.
Deposited Squeeks and staked $SQK add power immediately. To sell or transfer a deposited Squeek, withdraw it first: earned rewards stay in Staking, while its level and merge cooldown go with the Squeek. Withdrawing Squeeks is free; unstaking $SQK burns an exit fee of 2% to 60%, depending on how many others are leaving. A merge permanently burns one of the two Squeeks. Squeeks covers these choices.
What “hamster proof of work” means
Hamster proof of work is Squeekchain's record of accepted wheel-magnet passages, one work unit per passage. It's separate from Ethereum's consensus: Ethereum only stores the record and orders its transactions.
The sensor's record is what counts work; cameras are a separate way to watch the device. What the system proves explains what a work record establishes.
How the parts connect
The device records work, services verify it, and Ethereum stores the settled record. Mining issues $SQK for completed blocks and funds Staking, which streams it to stakers by power.
Read How it works for the steps from wheel activity to a claim, or Components and responsibilities for the technical system map.