How uMINER works

Introduction

uMINER is a memecoin with a working primitive underneath: instead of LP positions earning fees, Miner NFTs do. The NFT is minted automatically when you buy $UMINER, and the protocol routes a slice of every trading fee to active Miners proportional to their hashpower.

You don’t stake. You don’t lock. You hold the NFT. Holding is the position.

The Hook · afterSwap

Uniswap v4 introduced hooks — code that runs at specific points in a pool’s lifecycle. uMINER implements the afterSwap hook on the GPT/ETH pool. When a swap completes, control passes to the hook, which decides whether to mint a Miner NFT and how to split fees.

// uMinerHook.sol — simplified
function afterSwap(
  address sender,
  PoolKey calldata key,
  SwapParams calldata params,
  BalanceDelta delta,
  bytes calldata
) external override returns (bytes4, int128) {
  if (params.zeroForOne /* eth -> uminer */) {
    _mintMiner(sender, params.amountSpecified);
    _routeFees(delta);
  }
  return (uMinerHook.afterSwap.selector, 0);
}

Trigger conditions

• Direction: ETH → $UMINER swaps trigger a mint. Sells do not mint.
• Minimum size: swaps below 0.005 ETH are dust and do not mint.
• Cooldown: a wallet can mint at most once per block to prevent sandwich-mint farming.

Miner NFT

Each Miner is an ERC-404 token with on-chain metadata describing its class, hashpower, and birth block. Class is rolled at mint time using a commit-reveal scheme that makes the result unpredictable to MEV searchers.

Hashpower & Yield

Every Miner has a hashpower (H/s) value rolled at mint. Trading fees from the pool are pooled per epoch and distributed pro-rata by hashpower:

payout_i = epochFees · (hashpower_i / Σ hashpower_j)

Epochs are ~1 hour on mainnet (300 blocks). At epoch close the hook snapshots active hashpower and credits Miners. Fees can be claimed at any time via the dashboard or by calling claim(tokenId) directly.

Upgrade & Burn

Two Miners can be combined into a single, stronger keeper:

1. Choose a keeper — the NFT you want to upgrade.
2. Choose a fuel — any Miner you own. It will be burned.
3. The keeper’s hashpower increases by 40% of the fuel’s hashpower.
4. If the fuel’s class is rarer than the keeper’s, the keeper has a 20% chance to upclass.

Smart Contracts

All contracts are deployed on Ethereum mainnet and are non-upgradeable. Source is verified on Etherscan.

Tokenomics

• Supply: 1,000,000,000 $UMINER. No mint function.
• Distribution: 60% LP, 20% Mining Rewards Vault, 15% Treasury, 5% Team (24-month vest).
• Fee split per swap: 70% to NFT holders, 20% to LP, 10% to Treasury.
• Burn rate: upgrades destroy fuel NFTs and a small share of $UMINER fees, lowering effective supply over time.

Audit & Security

The hook and supporting contracts are scheduled for audit by an independent firm prior to mainnet launch. Audit reports will be linked here on completion.

The protocol does not hold user keys, does not request approvals beyond the swap itself, and does not have an admin pause/upgrade switch.

FAQ