what Gems is

Gems is a launchpad. Someone creates a token here, and instead of selling the supply, they leave it in a vault that releases a fixed amount every sixty seconds. Anyone can take a share of that release by depositing units of the token and submitting one proof of work per round from their browser.

The thing that makes it different from a launchpad that sells supply is not the mining. It is that the numbers are frozen. Supply, emission schedule, difficulty, round length and the creator's allocation are chosen once, in the launch transaction, and then no instruction exists that can change them. §1.1

1. 01

   someone launches

   They fix the supply, point at a metadata document they have already paid to store permanently, and sign once. The full supply is minted, the creator's allocation goes to their wallet, the rest goes into a vault, and the mint authority is revoked in the same transaction. §2.4

2. 02

   a round opens

   Each round lasts a fixed number of seconds and carries a fixed budget from the emission schedule. Rounds end on the clock, not when someone solves. §3.1

3. 03

   miners stake and submit

   A miner deposits units of that token into its stake vault. From the next round on, those units are their weight. Each round they solve one proof in the browser and submit it. Solving faster earns nothing extra. §1.3

4. 04

   the round settles

   When the round closes, its budget is divided across everyone who submitted, in proportion to staked units. Rewards accrue and are claimed separately, without stopping mining. §4.4

Gems does not create a market. The current build makes a mint, a supply and two vaults. It does not open a liquidity pool, lock one, or route a trade, so a launched token has no price until somebody independently makes one for it. §1.4

There are no jackpots, lotteries or random bonuses, and there will not be. Every share is a deterministic function of the round's budget and the weight in it. §1.5

The proof of work is not securing anything. Solana provides consensus; the hashing here exists so that new supply costs something to obtain, and so that the cost is payable from a browser. §1.2

Every excavation on this site runs on mainnet with a Raydium pool. Gems is deployed on mainnet, and every launched token gets a Raydium pool at launch. §9.1

The program has passed local and compiled-program tests and two independent reviews, but the exact current artifact has not yet completed an end-to-end run against a deployed program. Read security and status before treating anything here as proven.