How it works

The creator picks a mining window, from 30 seconds to half an hour. It opens at least 30 seconds after the coin is created, so everyone can see the coin before anyone can mine it, its creator included. During the window, anyone can open the coin’s page and press Start mining. Your browser hashes in the background and submits its best work once a round: every minute in longer windows, every 10 seconds in the shortest.

Each hash either has enough leading zero bits to count as a share or it doesn’t. Hashy sets your share depth to fit your computer’s speed, so a laptop and a workstation both land a share or two a minute. Deeper shares count for more: a share at depth 12 counts twice as much as one at depth 11, because it took twice the hashing to find.

Each submission pays the mining price, 0.02 SOL per unit of work and the same on every coin, for the work it carries. A unit is 4,096 hashes, about a minute on a typical laptop, so a phone pays less per minute and a fast desktop more. You only pay for work you submit, and you can stop any time. You can watch every submission land on the coin’s share chart as it happens.

Everything miners pay goes into a shared pot. When mining ends, that pot buys the coin first, in the same transaction that creates its market. No one can buy before the miners, because the market doesn’t exist until their buy is already in it. The buy moves the price up the curve as it fills, so the miners pay the average price along that stretch, the same price per coin for all of them.

The coins from that buy are sent straight to the miners’ wallets within seconds, split by what each one paid in, which follows the work each one did. Nobody claims anything. If the pot is larger than the opening buy is allowed to be, the rest goes back to miners’ wallets in the same proportion.

The miners’ buy, and every trade after it, pays the curve’s normal 1.25% fee. There is no higher fee at the start: the miners are first because the market doesn’t exist until their buy is in it.

After opening, the coin trades on a Meteora bonding curve: the price rises as people buy and falls as they sell. Every coin has a supply of one billion and graduates when about 64 SOL sits in its curve.

At graduation, the curve’s SOL and 20% of the supply move into a Meteora pool. That liquidity is locked permanently: nobody can pull it, including the creator and Hashy.

Creators don’t take a cut. The creator’s share of every trade, about 0.3%, goes into buying that same coin and burning what it buys, so its supply only goes down. Every 5 minutes, each coin whose buyback share has reached 0.25 SOL is bought back: Hashy’s keeper collects its fees, sends Hashy’s part to Hashy and spends the buyback part on the coin, in one transaction, then burns the coins. Smaller amounts keep adding up until they get there. Buybacks show in the coin’s trades, and the coin page counts what they have burned.

The keeper runs the buybacks, so they rely on Hashy’s service rather than on the chain alone. Coins launched before buybacks keep paying their creator.