SHEET 04Method

How LODE works.

LODE is fee sharing by proof of work. The coin's own trading fees are collected every minute and split among the wallets that hashed that minute, weighted by the difficulty of each wallet's best hash.

§ 1Fee flow

From a trade to your wallet

AB
Trades
Buys and sells on the LODE pool pay a flat 1.5% fee.
BC
Keeper claim
Once a minute the keeper claims the fees the pool owes the deployer.
CD
Split
90% of the claim goes to the vault as the round's pot; 10% stays with the deployer.
DE
Hashes
During the minute, miners submit their best keccak256 hash for the round.
EF
Shares
Settlement: each miner is owed pot x weight / total weight.
Fend
Claim
Shares credit to your on-chain balance; claim pays it to your wallet in SOL.

LODE trades on a Meteora Dynamic Bonding Curve pool quoted in SOL, with a flat 1.5% trading fee. Every round lasts one minute. When a round ends, the keeper (a wallet run by the deployer) claims the fees the pool has accrued for the deployer, settles the round and opens the next one.

90% of each claim goes to the round's pot, held by the program's vault; the other 10% goes to the deployer. If a round has no miners, its pot is not lost: it carries into the next round that has miners.

Anyone with a Solana wallet can mine. There is no minimum holding and no pre-launch window. The keeper wallet itself cannot mine.

Earnings are credited to your Miner account's balance on your next submit or claim, and claim pays the balance to your wallet in SOL. The keeper may also push larger balances to their owners. A settled round stays claimable for 300 rounds, about five hours; a share nobody credited by then moves back into the pot as carry.

§ 2The hash

72 bytes, one keccak block

0-31 challenge: 32 bytes, from the Rounds account; new every round
32-63 wallet: 32 bytes, your public key
64-71 nonce: 8 bytes, u64 little-endian; the only part you vary

Each attempt hashes the round's challenge, your wallet and a nonce:

h = keccak256(challenge || wallet || nonce_u64_le)
d = leading zero bits of h
    (byte 0 first, most significant bit first)

The challenge comes from a recent Solana slot hash taken when the round opens, so nobody can start early. Your wallet is inside the preimage, so a nonce found for one wallet is worthless to any other, and copying someone's submission gains nothing.

keccak256 here uses the original Keccak padding, the same as Ethereum and Solana's keccak syscall, which the program uses to check every submitted hash itself. Calibrate runs the standard test vectors on your device.

§ 3Difficulty and weight

d_min, the cap, and what a bit is worth

Best d	Weight	Hashes per hit, average	Note
19	rejected	2^19 = 5.24e5	below d_min
20	1	2^20 = 1.05e6	d_min
21	2	2^21 = 2.10e6
22	4	2^22 = 4.19e6
24	16	2^24 = 1.68e7
26	64	2^26 = 6.71e7
28	256	2^28 = 2.68e8
30	1,024	2^30 = 1.07e9	cap reached
32	1,024	2^32 = 4.29e9	past the cap
36	1,024	2^36 = 6.87e10	past the cap

The program's defaults: d_min 20, cap_bits 10. The deployer can tune them in Config; the live values appear here once the program is on chain.

A submission counts only if d ≥ d_min. Its weight is 2^min(d - d_min, cap_bits): every bit past d_min doubles the weight, because finding it takes twice the hashing on average. Past d_min + cap_bits, more hashing earns that wallet nothing more.

Each wallet keeps only its best hash per round; a heavier one replaces it. At settlement a miner earns pot x weight / total weight, rounded down to the lamport.

The cap limits how much one wallet can take from a round. It does not stop anyone from splitting work across many wallets; see the risks.

Hash rate	Example device	Hashes in 60 s	Best d, 50% chance	Weight at that d
1 MH/s	Phone, WASM	6.0e7	26	64
10 MH/s	Laptop CPU	6.0e8	29	512
100 MH/s	Desktop GPU	6.0e9	33	1,024
1 GH/s	Fast GPU or several	6.0e10	36	1,024

Arithmetic, not a measurement: after H attempts the best hash reaches d with probability 1 - (1 - 2^-d)^H, so the 50% point is about log2(H / 0.69). Device labels are rough orders of magnitude; measure your own on the Mine or Calibrate sheet.

§ 4Accounts

Where the numbers live

Account	Seeds	Holds
Config	"config"	keeper, mint, d_min, cap_bits, round length, pot share, carry, what is owed to miners
Vault	"vault"	every lamport of pot, carry and miner balances
Rounds	"rounds"	the live round (id, challenge, clock, total weight, miners) and a ring of the last 300 settled rounds
Miner	"miner", wallet	your balance, your pending round and weight, totals earned and claimed

Program LodeVLYx4t3t8cakjds4vNy596A9FVVVi9aXqTrT7rw. All four are program-derived addresses of it.