Full Mechanics Disclosure

Equimine (formerly MineStreet, then HoodMiner, then Stock Miner 2026-07-14; renamed Equimine 2026-08-27 - name only each time, every number below unchanged by the renames; token ticker now $EQUIMINE, was $MINER, was $TICK; NFT symbol RIG).

This page is the product. Every cap, split, fee, rate limit, and known limitation in Equimine is on it - including the ones that take money away from you. We wrote it because of a rule we set before writing any code: if a mechanic can't survive being disclosed, it doesn't ship.

Every number here is read from contracts/src/config/Params.sol, the single file that holds every economic constant in the protocol. No other contract is permitted to hard-code an economic value. If this page and the chain ever disagree, the chain is right and the page is a bug - tell us.

See also: Litepaper · Risks · FAQ

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1. Where your money goes

Every primary mint splits five ways. Nothing is held back and nothing is undisclosed.

Plus a flat 500 $EQUIMINE burned per mint. You must hold it and approve it; the mint reverts if you don't.

So: 93% of your mint price is reachable by holders (75% pool + 13% vault + 5% insurance, which all feed the pool over time), and only 7% is the protocol's permanent take - 5% treasury and 2% buyback-burn. That 7% is the whole house edge on a mint.

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2. The miners

• Hash power is superlinear vs. price (a Whale is 5x the price and 7x the weight). Supply is strictly decreasing with tier. Both are deliberate.
• Supply caps are per ticker and permanent. Burning or merging a miner does not free a supply slot - 600 Penny Miners will ever be minted on GOOGL, full stop.
• Primary mint limit: 5 per tier, per ticker, per wallet. The marketplace is unrestricted.
• The lifetime caps are ceilings, not promises. Read risks.md §2 - the aggregate of all advertised lifetime caps exceeds the money that can ever fund them, and most miners will never reach theirs.

How a payout is computed

Pools use standard accRewardPerShare accounting (MasterChef-style). When ETH enters a ticker's pool, it is divided across the total active hash power in that ticker. Your miner's claim is its hash power's share, and nothing else - there is no allocation, no queue, no discretion.

Hash power is zero if the miner is burned out. Burned-out miners are not in the denominator either - they don't dilute anyone.

Payouts are pull-based: nothing is pushed to you, you claim it.

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3. The daily cap is a leaky bucket (read this one carefully)

The daily cap is not a midnight-resetting daily allowance, and it is not a rolling 24-hour lookback. It is a leaky-bucket rate limiter, and here is exactly how it behaves:

• Every miner has an allowance, denominated in ETH, that refills continuously - linearly, second by second - at a rate of one full daily cap per 24 hours.
• The allowance is capped at one full daily cap. It cannot accumulate past that, no matter how long you wait.
• When you claim, you receive up to your current allowance, and the amount you actually earn is deducted from it.

Three consequences, stated plainly:

1. Sustained throughput can never exceed one daily cap per day. Not by claiming more often, not by claiming less often, not by any pattern of claims.
2. A miner that skipped a day can claim at most one full cap as a catch-up burst. Skipping five days does not bank five caps. It banks one.
3. Claiming frequently is not punished. Claim every hour and you'll take 1/24th of a cap each time. Claim once a day and you'll take one cap. Same total. (Gas is your own problem.)

Reward you couldn't take because of the daily cap is not destroyed. It stays pending on your miner and is claimable later, once the bucket has refilled. The daily cap delays earnings; it does not confiscate them.

The one place that isn't true is a marketplace sale - see §6.

The daily cap is a USD number converted by a governance rate

Daily caps are specified in USD ($30 / $80 / $200). They are enforced in ETH. The conversion uses ETH/USD from an on-chain RateRegistry that is set by governance behind the 48-hour timelock - not a live price oracle.

That means the daily cap is a governance-pegged dollar equivalent, not a live-market dollar. If ETH moves fast, the cap is temporarily loose or tight in real terms until governance updates the rate. Rates older than 7 days are flagged stale in the app, but a stale rate does not block claims - we chose availability over freshness on purpose, so that a lapsed rate update can never freeze your money.

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4. Burnout, refurbish, and merge

Burnout

When a miner's lifetimeEarned reaches its cap, burnedOut = true. It stops earning immediately and contributes zero hash power from that moment. It remains transferable and sellable - burned-out miners are collectibles with distinct "smoked" art, and the marketplace shows the burnout status on the card.

Refurbish

Burn $EQUIMINE to bring a burned-out miner back for another cycle.

• The new cycle raises the lifetime cap by exactly one mint price (for a merged miner, by the combined mint price of its two constituents).
• The miner comes back at 0.5^(refurbish count) of its nominal hash power. First refurbish: 50%. Second: 25%. Third: 12.5%.
• Maximum 3 refurbishes. After the third burnout, the miner is done, forever.

This is a token sink with sharply diminishing returns, by design. A third-refurbish Penny Miner is running at one-eighth of a hash and has burned 15,000 $EQUIMINE to get there. Whether that's worth it depends entirely on the pool, and we are not going to pretend to know.

Merge (the "stock split")

Burn two miners → get one.

Requirements - all of them:

• Same ticker, same tier.
• Neither is burned out.
• Neither has ever been refurbished. Prime miners only.
• Neither is itself a merged miner. A merged miner cannot be merged again.
• 50,000 $EQUIMINE burned.

What you get:

• Hash power = 2.0x the tier's base hash power. Two Whales (7 + 7 = 14) become one merged Whale at 14. Merge conserves hash power. It does not create it.
• Lifetime cap = the sum of the two miners' remaining caps × 1.0. No bonus.
• The two originals are destroyed. Supply does not regenerate.
• The daily cap does not change. A merged Whale still has a $200/day cap - the same as an unmerged one - but twice the lifetime cap to work through. It therefore takes roughly twice as long to reach its cap. Merging does not speed up extraction; it concentrates it.

An earlier version of these parameters gave merged miners 2.2x hash and a 1.1x cap bonus for 15,000 $EQUIMINE. Our own tokenomics simulator found that this made merging unconditionally profitable - roughly $90 of free cap for $15 of token - which meant full pairwise merging was the rational equilibrium and merged whales broke the 20-whale scarcity ceiling by 10% while diluting every Penny and Blue Chip holder in the shared pool. We took the bonuses out and raised the cost. Merge is now a status mechanic and a token sink. It is not an edge, and we would rather tell you that than let you find out by modelling it yourself.

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5. No warm-up - miners earn immediately

A newly minted miner earns immediately - from the block it is minted in. There is no warm-up or boot delay (WARMUP_PERIOD = 0).

A miner still only earns from pool inflows that arrive after it is minted: its share is registered against the pool's accumulator at mint, so it never earns retroactively from purchases that landed before it existed. It just doesn't have to sit idle first.

Buying a miner on the marketplace is the same - it earns for its owner from the moment the sale settles.

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6. The marketplace

Fee: 5% of the sale price. Split three ways:

That last 20% is the flywheel: every sale of a GOOGL miner pays every other GOOGL miner. There is no additional royalty on top of the 5%.

Listings are in ETH. Offers are supported (WETH escrow). Listing transfers the miner into escrow.

Escrowed miners keep earning - for the seller

A listed miner does not stop mining. It keeps accruing to you, the seller, right up until it sells. A permissionless crank auto-claims for escrowed sellers daily, so those earnings land in your wallet as they accrue.

What happens to your pending rewards when it sells - READ THIS

This is the mechanic most likely to cost you money if you don't know it, so here it is in plain language:

On sale, you receive everything that is claimable under the daily cap at that moment - that is, up to one daily cap's worth of allowance - plus any rewards that were deferred because the reward token was paused, which are paid to you in ETH.

Any pending reward beyond that one daily cap's allowance rolls back into the ticker pool. It goes to the other miners on that ticker. It does not go to the buyer, and it does not go to us. It does not come to you.

We do it this way because the alternative - paying out unlimited pending on sale - would make "list and sell to yourself" a trivial bypass of the daily cap, which would break the rate limit for everyone. The rate limit has to hold on the way out or it doesn't hold at all.

What this means for you, practically:

• Claim daily. The crank does this for escrowed listings, but it is your money and your responsibility to check.
• Drain your miner before you list it, or at least before it sells.
• In practice the amount at risk is at most about one day's accrual, because the crank keeps the buffer small - but "about one day's accrual" is not "nothing."
• The app shows your exact pending amount and warns you before you confirm a sale. Do not click through the warning.

The buyer inherits nothing pending - they start clean. The machine is already earning.

Full information on every listing

Every listing displays the miner's lifetime earned, cap remaining, refurbish count, and burnout status. This is deliberate: it makes "sell the nearly-dead miner to someone who doesn't know how to check" impossible to do quietly. The provenance is on the card, on-chain, for everyone.

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7. Governance

Token-gated voting on which pre-IPO tickers go live.

• Voting is snapshotted at the proposal block. Stake acquired after the snapshot carries zero weight - flash-loan voting doesn't work.
• The +5% stake boost requires at least 10,000 $EQUIMINE staked - the same threshold as voting. Below that, staking gives you no boost.
• Proposals may only promote a ticker from the pre-approved pre-IPO list (COIN, SPY, BTC). This is parameter governance, not open governance. There is no proposal shape that moves treasury funds or changes an arbitrary parameter.
• A vote can also be opened permissionlessly once the protocol hits a milestone: 5,000,000 $EQUIMINE cumulatively burned, or 100 ETH of pool TVL.

Disclosed limitation: sqrt voting is sybil-gameable

We use sqrt weighting to dampen whale dominance. It has a real, well-known weakness, and we are going to state it rather than let you discover it:

Splitting a stake across N wallets - each holding at least the 10,000 $EQUIMINE vote threshold - multiplies your voting power by roughly √N. One wallet with 250,000 $EQUIMINE gets a weight of ~500. Twenty-five wallets with 10,000 each get 100 apiece, for a total of 2,500 - five times the voting power for the same tokens.

This is inherent to quadratic voting without a proof-of-personhood layer, and we do not have one. What limits the damage:

• The per-wallet 10,000 $EQUIMINE floor sets a real cost on each additional wallet.
• Gas and operational complexity scale with the number of wallets.
• Votes are restricted to a pre-approved ticker list. The worst outcome a successful sybil attack achieves is listing COIN earlier than the community wanted. The blast radius is bounded by design.

It is a known limitation, not a solved problem. See SPEC §10.

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8. Treasury and the insurance fund

The 5% of every mint that goes to treasury, plus 40% of every marketplace fee, is split into published, enforced buckets:

Separately, 5% of every mint goes directly to the Insurance Fund, on top of the 30% treasury bucket.

Treasury is a 3-of-5 Gnosis Safe multisig behind a 48-hour timelock. Every movement is queued in public before it executes, and the app has a live treasury dashboard showing balances, flows, and every pending timelock item.

An honest note on the size of this. Our simulator found the mint-fee treasury tops out around 13.2 ETH protocol-wide (~$24.8k) for an entire year in the best (growth) case (about 0.99 ETH in a bust), and the insurance fund it feeds ends the year around 0.33 ETH (0.017 ETH in a bust). That is not enough to backstop anything meaningful. Operations are funded from the 15% $EQUIMINE treasury allocation and marketplace fees - not from mint fees - and the insurance fund should be understood as a token gesture at current volumes, not a safety net. This is in the risks page too, because it belongs there.

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9. Events

All events run through the EventController, owned by the timelock. All emit on-chain events and appear in a public log in the app.

Earnings Week

The ticker's vault drip doubles from 1%/day to 2%/day, for up to 7 days, on one ticker at a time.

That is the whole event. It is not a hash-power multiplier - a uniform hash multiplier applied to everyone in a pool would change nobody's share of it, and we weren't going to ship theatre. Earnings Week is a self-funded double vault yield: the vault pays for it out of its own holdings, which means it draws down the vault's stock faster. Real money, from a real place, and the place is disclosed.

Dividend Day

A one-off bonus drip of up to 5% of a ticker's vault balance into its pool. Capped at 5% in the EventController and independently capped again at 5% inside the Vault itself, so a compromised controller cannot drain a vault.

After-Hours Boost

A top-up paid into pools from the treasury's Growth bucket while the event is live. It is treasury-funded - new money from the treasury, not a redistribution of yours. Size is at governance's discretion and bounded by what's in the Growth bucket.

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10. What you actually get paid, and what happens if it breaks

Payouts are made in the real tokenized stock itself. All internal accounting is in ETH; the reward asset is touched at exactly one point - the final delivery step of your claim, where your realised ETH is swapped for the ticker's asset and sent to you.

Per-ticker, the asset you receive is:

ETH pays ETH. The ETH ticker is paid straight through, 1:1, with no swap and no stock leg. Everything below about swaps, oracles, and market-hours settlement applies to the six stock tickers only.

How the stock delivery actually happens

There is no stock/ETH pool on Robinhood Chain, so a claim can't buy stock with ETH in one hop. Delivery is a two-leg swap, built once and run automatically at the end of your claim:

1. ETH → USDG on Uniswap V3 (USDG is Robinhood's Global Dollar stablecoin - deep pools, never the bottleneck).
2. USDG → the tokenized stock on Uniswap V4 (where all the real stock liquidity lives).

Both legs are priced against the native per-stock Chainlink oracle that Robinhood Chain publishes for each ticker, and the whole delivery is floored at the same 3% max slippage (see Keeper swaps below). If the swap can't clear that floor, the claim safely DEFERS - the protocol books your reward as retryable ETH on your miner rather than executing a bad trade. During US market hours you never get a worse-than-floor fill and the worst case is a short delay; off-hours the floor widens so the claim still settles 24/7 (see below). (Deferral is the same mechanism as a paused token.)

Stock claims settle 24/7 - with a wider off-hours price band

Stock claims settle 24/7 - you never wait for the US market to open. What changes is the price protection, because the native Chainlink stock feeds only update while the US market is open (24/5):

• During US market hours: the swap is protected by the tight 3% slippage floor against the live feed.
• Off-hours, weekends, holidays: there is no live price, so the claim settles against the last-known market price with a wider ~5% band and no live price check. You still get your stock immediately - you may just get a slightly worse rate than a market-hours claim would.

What the off-hours band can cost you, in numbers. The loss is bounded by your tier's daily cap: about $1.50 / $4 / $10 per off-hours claim (penny / blue chip / whale - ~5% of the $30 / $80 / $200 caps). In a large adverse weekend price gap - one the on-chain pool has already repriced to while the feed was dark - the loss can exceed that band by roughly the size of the gap, bounded above by your tier's full daily cap. Three things keep this fair rather than a trap:

• It falls only on your own reward - never on other miners, the pool, or the treasury.
• It requires an active off-hours MEV bot to be captured at all; absent one, you settle at the anchor price.
• It's avoidable - claim during US market hours for the tight 3% protection.

ETH settles 24/7 with no band (no oracle, no swap). And if a stock feed is out longer than a genuine-outage window (over ~96 hours, well past any weekend), the claim safely defers rather than settling on an ancient price.

Two consequences you should understand

Price risk sits between mint and claim. Your reward accrues in ETH and is converted to stock at claim time. The amount of stock your ETH buys depends on the market when you claim, not when you minted. Each claim's swap costs a fee and some slippage, borne by you. The app defaults to a 1% max-slippage bound; you can override it.

If a stock token is paused, your rewards are deferred - never lost. Robinhood's stock tokens can be paused globally or by an oracle signal. If that happens mid-claim, the protocol still computes your reward, applies your caps, and credits the ETH to your miner as deferred, retryable balance. Nothing is destroyed. Nothing leaks to anyone else. You retry when the token unpauses - or, where the protocol provides an ETH path (a marketplace sale settlement, or governance-declared emergency mode for a delisted asset), you take it as ETH instead.

Minting never depends on the stock being live. The mint path routes pure ETH and never touches the stock token. A globally paused stock market cannot brick Equimine.

Keeper swaps are slippage-bounded

Permissionless cranks (vault drip, buyback-and-burn, vault provisioning) are bounded to a maximum 3% slippage against the native per-stock Chainlink oracle - with a short-lived governance-set fallback if a feed is briefly unavailable, and a DEFER if neither is fresh. Nobody can crank a swap at a worse price than that, which removes the sandwich profit from cranking.

The vault costs swap spread on the way in and out

Because the vault actually holds the underlying stock, value cycles through Uniswap twice: ETH → stock when the vault is provisioned, and stock → ETH when it drips or redeems into the pool. Each leg is floored at that same 3% max slippage.

In the worst governed case - both legs at the full 3% bound - a complete ETH → stock → ETH round trip retains about 94.09%, i.e. up to ~6% is lost to swap spread per full cycle. Real pool liquidity makes it much smaller in practice, but it is never zero. So the vault's 1%/day base yield is net of this cost: holding the underlying is a real feature, but it is not a lossless store of value. We would rather you know the drag is there than imply the vault is free.

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11. What rolls back into the pool

Three things flow back into a ticker's pool rather than to an individual. All three are disclosed here because they are, in effect, transfers from one miner to the rest:

1. Lifetime-cap overflow. If a claim would take a miner past its lifetime cap, the excess is rolled back into the pool and pays everyone else. It is not paid to the capped miner.
2. Marketplace residual. Pending reward beyond one daily cap's allowance at the moment of sale rolls back into the pool (§6).
3. The 20% pool share of every marketplace fee (§6).

Daily-cap excess does NOT roll back. It stays pending on your miner and is yours to claim later. The distinction matters: the daily cap defers, the lifetime cap forfeits.

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12. The full parameter sheet

Everything above, in one block, exactly as it appears in Params.sol:

TIERS
  Penny      0.02 ETH · hash 1 · supply 600/ticker · $30/day  · lifetime 4.0x · refurb  5,000 EQUIMINE
  Blue Chip  0.05 ETH · hash 3 · supply 150/ticker · $80/day  · lifetime 6.0x · refurb 10,000 EQUIMINE
  Whale      0.10 ETH · hash 7 · supply  20/ticker · $200/day · lifetime 8.0x · refurb 25,000 EQUIMINE

PURCHASE SPLIT (every primary mint)
  75% pool · 13% vault · 5% treasury · 2% buyback-burn · 5% insurance fund
  + 500 EQUIMINE burned per mint
  Primary mint limit: 5 per tier, per ticker, per wallet

CAPS
  Daily cap:    leaky bucket, refills at 1 cap / 24h, max accumulation 1 cap
  Lifetime cap: hard stop; overflow rolls back into the pool

REFURBISH   0.5^n efficiency · max 3 cycles · +1 mint price of cap per cycle
MERGE       2.0x hash · 1.0x cap factor · 50,000 EQUIMINE · prime miners only · no re-merge

WARM-UP     none - miners earn immediately from mint (WARMUP_PERIOD = 0)

VAULT       drips 1%/day of holdings into the pool (2%/day during Earnings Week)
EVENTS      Earnings Week: 2%/day vault drip, max 7 days, 1 concurrent
            Dividend Day:  one-off vault drip, max 5% of vault
            After-Hours:   treasury Growth-bucket top-up

MARKETPLACE 5% fee → 40% treasury / 40% buyback-burn / 20% back into the ticker pool

$EQUIMINE   1,000,000,000 fixed supply · no emissions ever
            60% liquidity (12mo LP lock) · 15% treasury (24mo) · 10% team (6mo cliff,
            18mo linear) · 10% airdrop · 5% CEX/partnership reserve (locked)

TREASURY    30% insurance · 25% liquidity · 25% ops/audits · 20% growth
            3-of-5 Safe behind a 48h timelock

GOVERNANCE  vote ≥10,000 EQUIMINE · propose ≥250,000 EQUIMINE · sqrt weight · 4% quorum
            5-day vote · 48h timelock · +5% stake boost · 7-day unstake cooldown
            Milestones: 5,000,000 EQUIMINE burned OR 100 ETH pool TVL

RATES       Daily-cap USD→ETH: governance-set ETH/USD registry (48h timelock, NOT an oracle)
            Reward delivery: ETH→USDG (Uniswap V3) → USDG→stock (Uniswap V4), floored
            off the native per-stock Chainlink oracle (3% in market hours); off-hours
            (US market closed) settles 24/7 vs last price, wider ~5% band (>96h → defers)
            Registry stale after 7 days (disclosed, does not block claims)
            Keeper swap max slippage 3% · default claim slippage bound 1%

TICKERS     Live:    GOOGL · TSLA · NVDA · AAPL · AMD · SPCX · ETH
            Pre-IPO: COIN · SPY · BTC

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→ The risks - the inflow dependency, the late-buyer numbers, and everything else we'd rather you read before you buy than after.