How $SQK is issued
The launch bonus, three halving periods, start cutoff, and lifetime cap.
TL;DR
- After issuance starts, each completed Squeek block issues $SQK under a fixed schedule: a launch bonus, then three periods whose rate halves each time.
- The schedule issues from the issuance allowance, which is the 2.1 billion lifetime cap less the premint. Blocks completed before the start issue nothing.
- Mining funds Staking with every issued $SQK, and Staking streams it to stakers by power.
How much $SQK does each block issue?
After issuance starts, each completed Squeek block issues $SQK in two parts:
- Launch bonus. An extra amount, spread evenly over a fixed number of blocks from the start.
- Base issuance. Three equal periods, each at half the rate of the one before, so they issue about four sevenths, two sevenths and one seventh of the allowance left after the bonus.
After the third period, blocks issue nothing.
The premint, launch bonus, bonus window and period length are deployment values. Launch configuration lists the Sepolia values, and the SqueekMining reference gives the exact formula.
When does issuance start?
Once Staking is connected and the admin starts issuance, it begins with the next full ten-minute round. Blocks completed before that round never issue $SQK. The hamster's earlier work stays in the public record, outside the schedule.
What limits total supply?
The lifetime cap is 2,100,000,000 $SQK, counting the premint and all issuance. Each checkpoint also limits its issuance to the remaining capacity, so lifetime minted $SQK can never exceed the cap.
How quickly $SQK is issued depends on how quickly blocks complete, which follows the hamster's activity and the current difficulty.
Where does a block's $SQK go?
Mining funds Staking with all of it. Each funding adds to anything still unreleased and restarts a 20-minute stream, shared by power; at zero total power, the stream waits. You then claim your rewards or stake them. Staking explains power and the stream.