Mining

Each round, miners have one minute to prospect on blocks in a 5x5 grid. At the end of the round, one winning block is chosen by a secure random number generator on the Solana blockchain. All SOL deployed on losing blocks is split amongst miners in proportion to the size of their claimed space on the winning block. In addition, the protocol will split a +50 GODL reward amongst all winning miners on the winning block. Alternatively, half of the time, one winning miner will be selected by weighted random chance to receive the entire +50 GODL reward.

Each round, +10 GODL is minted and added to the motherlode pool. When the winning block is revealed, there is a 1 in 625 chance that those winning miners will also hit the motherlode. If the motherlode is hit, the pool is split by the winning miners in proportion to the size of their claimed space on the winning block. Alternatively, if the motherlode is not hit, the pool keeps accumulating and will be distributed to winning miners when it is hit in a future round.

A "refining fee" of 10% is applied to all GODL mining rewards when claimed. The proceeds from this fee are automatically redistributed to other miners in proportion to their unclaimed GODL mining rewards. Thus, the longer a miner holds onto their mined GODL, the more refined GODL they will receive. The net effect of this process is to redistribute tokens to longer term holders.