Mining is how you get newly minted fund tokens. Each fund has exactly one Mine. You pay USDC to take over the Mine, become its current miner and earn the complete current emission rate until someone else takes it over. When they do, you receive 80% of what they paid plus everything you mined.

Reading the Mine

The fund's Mine tab shows the current miner and their message, what they paid and have mined so far, the Mining revenue split and recent takeovers. The price falls in a straight line to zero over the hour after each takeover. A high price means someone recently took over the Mine; a price near zero means its auction has been running for most of an hour. The next starting price is twice what the last miner paid, never below 1 USDC; before anyone has taken over a new fund's Mine, it starts at 1 USDC.

Taking over the Mine

1. The Take over panel shows what you pay now, the Mining rate you would earn, the 80% Takeover payout and the Next starting price.
2. Optionally write a Message of up to 50 characters (the contract allows 280 bytes). If you leave it empty, the app sends “We glaze the world.” The message is stored with your tenure and emitted for permanent event history. The next miner's message replaces it in contract storage.
3. Press Take over for $…, check the review and confirm. You pay at most is the current price plus 1%; only the price when your transaction lands is charged. Your wallet may first ask to approve USDC for the Periphery helper (or for the Mine itself on funds launched from an older Launchpad); wallets that support batched transactions confirm both at once.
4. The mine transaction carries the current epoch id, a deadline ten minutes out and your maximum payment, so if someone else takes over the Mine first, or the price moves past your cap, the transaction reverts instead of paying more.

The app always makes your connected wallet the miner. The contracts also let a caller name another address, other than the fund, as the miner; the caller pays and the miner earns.

While you're the miner

The emissions guide charts an example halving schedule and lets you explore what a takeover near a boundary earns.

Your fund tokens accrue every second at the rate fixed when you took over the Mine. They are minted to you when someone else takes it over. The Mine's pending emission is already counted in the withdrawal denominator, so settlement timing cannot dilute withdrawals.

When someone takes over from you

The moment someone else takes over the Mine, your accrued fund tokens are minted to you and 80% of their payment is recorded as your claim. Claims are paid by claimPayment(account); the Rewards tab triggers it for you, and anyone else can trigger it too, since payment always goes to the recorded account.

When the takeover goes through the Periphery helper, as the app does for funds from the current Launchpad, it also attempts your claim right after mining, paid directly to you. If that claim fails, the takeover still succeeds and your claim remains available. The incoming caller pays upfront; the helper does not use their old claim balance to pay for the takeover.

Costs

The takeover price is the payment to the protocol. Of it, 80% goes to the miner you replace (nothing if nobody had taken over the Mine yet). Team and protocol fees independently range from 0.01% to 2% when their recipients are set, with a default of 0.5% each. The FundController owner sets the team rate; the Launchpad owner sets the protocol rate. The remainder goes to the Mine's current revenue destination, which the team can change. Under the launch-time routing setup it can pay for strategy purchases. At both defaults with an outgoing miner and both recipients enabled, the split is 80% miner, 19% revenue, 0.5% team and 0.5% protocol. Gas is an additional cost, and neither a profitable takeover nor a later paid replacement is guaranteed.