Bootstrap and graduation
New Satcoin supply starts at zero. Bootstrap divides earned SAT 50% miners / 50% LP and routes 90% of actual deductions plus exact-entry fees to LP SOL / 10% Operating. Principal recovery is unchanged. Bootstrap has no ordinary BTC, daily-prize or staking distributions. The 8× boost is limited to 60,000 gross SAT inside the 1,500,000 annual / 30,000,000 lifetime totals. Mining continues without a calendar expiry until settled LP funds reach 50 net SOL and 15,000 SAT. Accepted rounds finish before all accounted balances seed the official SAT/SOL pool. Earned SAT can begin its 24-hour stake maturity during bootstrap. After verified LP activation, normal mining does not require eligible stakers. If the fixed snapshot has none, that round’s staking allocation returns in SOL to its original forfeiture contributors, proportional to their actual deductions; later stakers cannot claim it. Bootstrap advances the annual allowance; the remaining schedule is reduced as necessary, with reservations counted once and no boost reset. Extra liquidity later uses received treasury funds, without new SAT minting. The opening price comes from actual deposited balances and available market depth. See the full launch rules.Normal mining: follow the SOL
Exact entries receive 99% of their principal; the remaining 1% goes to Operating. Incorrect entries recover 90%–95%, with the actual deduction determined by distance. Only that deduction, called the forfeiture, is split:
The exact-winner fee is additional Operating income, not part of this split. Principal returns, pending reward funds, acquired BTC, carry, prize rights, Operating and treasury balances remain separate.
Fresh miner release equals the miner allocation multiplied by the highest credit in the round. Released fresh rewards use capital × credit weights. The unreleased part becomes carry. With no exact winner, partial-credit entries may still receive fresh BTC/SAT; with zero credit everywhere, all miner input becomes carry and no SAT is issued. An all-exact round has no forfeitures to fund fresh BTC, but capital can still unlock SAT.
BTC quantities are determined by actual conversions. Pending SOL is not yet BTC, and quoted SAT value is not cash received from a sale.
Unlocking SAT
For display, before the exact integer rounding and remaining allowance checks:Round SAT = scheduled slot ceiling × min(1, accepted SOL / 5 SOL) × highest credit
The ordinary unadvanced ceiling is approximately 28.5388 SAT per ten-minute slot. Bootstrap uses its bounded 8× gross award and 50/50 split; the remaining-year ceiling may be reduced to account for that advance. SAT shares use capital × credit. The 1,500,000 annual total maximum and 30,000,000 lifetime issuance cap include reserved awards; unused allowance and burns cannot create extra capacity. See Satcoin.