How it works
Follow wheel activity from the sensor to Squeek blocks on Ethereum, $SQK issuance into staking, and a claim to your wallet.
TL;DR
- The WHEELY9000 saves accepted wheel activity, and verified work is settled on Ethereum.
- Settled work completes Squeek blocks, and a checkpoint issues their scheduled $SQK into Staking.
- Staking streams that $SQK to stakers by power, and you claim your rewards in a separate transaction.
From wheel activity to a wallet
Work moves through five steps in order, each with its own job.
Recording wheel activity
A magnet on the wheel passes a sensor, and the WHEELY9000 saves each accepted passage as one work unit, grouped into ten-minute rounds.
The device saves records locally before sending them, so it keeps counting during a network outage while its sensor, clock, and storage stay healthy, then sends the records when the connection returns.
Settling work on Ethereum
Services verify the signed records and submit accepted work to Ethereum. Once it's recorded there, the work is settled; public chain views show it after the required confirmations.
Settled work earns progress toward a Squeek block, Squeekchain's own unit of progress. The work a block needs adapts gradually to active rounds, and progress already earned carries forward unchanged.
Issuing $SQK into staking
After the admin starts Mining, each checkpoint issues the scheduled $SQK for newly completed Squeek blocks and funds Staking with all of it. The schedule is a launch bonus, then three halving periods, up to the lifetime cap; How $SQK is issued has the details.
Earning in staking
Stake your Squeeks, your $SQK, or both. Your power is the base power of your deposited Squeeks plus the power of your staked $SQK, boosted by those Squeeks. It changes immediately when you deposit, stake, withdraw, or unstake.
Each funding joins whatever hasn't been released yet, and the total streams out evenly over the next 20 minutes, shared by power. While no power is staked, the stream pauses. Staking covers deposits, power, and exit fees.
Claiming to your wallet
Rewards collect in Staking, not in your Squeeks, until you claim them. A claim pays them to your wallet or your claim recipient for a network fee; you can restake them as $SQK instead. Claiming rewards explains what to expect.
Why updates take time
Records can be waiting for delivery, verification, an Ethereum transaction, confirmations, or a checkpoint while the wheel keeps moving; funded $SQK then streams over 20 minutes. Each public view reports one of these stages. Outages and checks can add delay and there's no fixed deadline; How work reaches Ethereum explains each stage.
What the records show
Only the sensor's record of accepted magnet passages counts as work; video is a separate way to watch and can't fill gaps. If the measurement device stops, it records the missed rounds as zero work when it restarts, so a zero-work stretch can be an outage rather than a resting hamster. What the system proves covers these limits.
For the component-by-component view, see Components and responsibilities and How work reaches Ethereum; exact contract behavior is in Developers.