Ore

Ore (ORE): Hard-Money Proof-of-Work on Solana

Ore is a Solana-native store of value (SoV) cryptocurrency with a hard-capped supply of 5 million tokens, designed to emulate the scarcity and "digital gold" ethos of Bitcoin while leveraging Solana's high-speed, low-cost infrastructure for instant finality, sub-cent fees, and native DeFi composability—such as seamless integration into liquidity pools, staking for yields, and collateralized lending. Unlike traditional proof-of-work systems, ORE's distribution now occurs through an innovative, RNG-based mining protocol resembling a decentralized game: participants deploy SOL on a 5x5 grid in one-minute rounds, with winners selected randomly to receive redistributed SOL and ORE rewards, incorporating mechanics like a "motherlode" jackpot, a 10% protocol revenue fee for automated buybacks and token burying (enabling potential deflation), and a refining fee that redistributes 10% of claimed rewards to unclaimed holders for compounding yields often exceeding 200% APY—ultimately aligning incentives toward long-term commitment and value accrual for dedicated participants. This evolution from earlier PoW iterations addresses past challenges like network congestion and value leakage, positioning ORE as a sustainable, community-driven asset that captures protocol revenue to support tokenomics, reduce net emissions, and reward patience in a fast-paced blockchain ecosystem.

Introduction

• “Hard money for the Solana age”: Ports Bitcoin’s proof-of-work scarcity onto Solana’s fast, low-fee network.
• Fixed 5 M supply: Roughly four times scarcer than Bitcoin on a per-coin basis, with no pre-mine or developer reserve.
• Instant DeFi access: Mined ORE arrives on-chain immediately, usable in DEX pools, lending markets, or rest-staking with sub-cent fees.

Ore’s journey began with the v1 launch in April 2024, which highlighted high miner demand and temporarily congested Solana. Upgraded to DrillX, Ore v2 relaunched in August 2024—resuming mining under a more controlled emission mechanism while maintaining universal, decentralized access.

History of the Mining Algorithm

ORE launched in April 2024 with a simple proof-of-work (PoW) system inspired by Bitcoin. The high demand led to a flood of transaction activity that temporarily congested the Solana network, famously "breaking" the chain and highlighting throughput limits. This congestion prompted the project to pause mining and led to improvements in Solana's infrastructure, such as better spam resistance and priority fee mechanisms. In response, ORE pivoted to v2 in August 2024, introducing the DrillX algorithm—a memory-hard PoW designed to be device-friendly and less susceptible to spam or ASIC dominance. However, over time, traditional PoW revealed fundamental issues like value leakage to parasitic users who extracted rewards without long-term commitment, misaligning incentives with the project's store-of-value mission. This forced a deep rethink, culminating in a brand new mining protocol launched on October 22, 2025. The new system replaces PoW with a game-like grid mechanism that captures protocol revenue, limits inflation through buybacks and burying, and redistributes value to long-term holders, addressing prior flaws while maintaining decentralized access.

Key Features

• Steady Linear Emission — ≈ 1 ORE per minute → 5 M cap in ≈9.5 years. No pre-mine, no dev tax, no halvings.
• Device-Friendly Mining — Mining is CPU-friendly and accessible from any device, but costs SOL for transaction fees and grid claims (typically break-even or slightly EV- for short-term, but positive long-term via unrefined yields).
• Native DeFi Compatibility — ORE is an SPL token, so it slots directly into pools, lending, and perps on Solana.

Technological Framework

The $ORE token is a (SoV) Store of Value cryptocurrency on Solana, designed as a store of value with a total supply cap of 5 million tokens. Mining involves a game-like mechanism where participants deploy SOL on a 5x5 grid of blocks each round (lasting 1 minute). One block is randomly selected as the winner via Solana's secure RNG; SOL from losing blocks is redistributed proportionally to winners, and ORE rewards are distributed (typically +1 ORE to one winner by chance or split among all on the winning block in about 1/3 of rounds). There's also a "motherlode" mechanic that accumulates +0.2 ORE per round and pays out rarely (1 in 625 chance) to winners.

Difference Between Refined and Unrefined ORE

• Unrefined ORE: This refers to mined ORE rewards that remain unclaimed in your mining account. It acts like a high-yield holding position, earning additional ORE from the protocol's "refining fee" system. Specifically, when other miners claim their rewards, 10% of those claimed ORE is redistributed proportionally to all holders of unclaimed (unrefined) rewards. This creates a compounding effect, often resulting in APYs over 200% for long-term holders, as it rewards those who delay claiming and reduces circulating supply. The goal is to incentivize long-term commitment and penalize short-term extractors.
• Refined ORE: This is the ORE you receive after claiming your unrefined rewards (minus the 10% fee). It's the liquid, tradeable form of the token that can be sold on markets, staked for yields (currently around 22% APY via liquidity pools), or used elsewhere. It doesn't accrue the same high compounding rewards from fees, but it's more flexible for immediate use. In essence, refined ORE is the "final" version after processing, while unrefined is the raw, accruing form.

Holding unrefined ORE is generally more profitable long-term due to the fee redistribution (e.g., one miner tracked ~200%+ APY from this mechanic alone), but it ties up your rewards until claimed. Claiming converts it to refined but triggers the fee, benefiting others with unrefined holdings.

Process to Refine the Token

1. Set up mining first (if not already): Use the official ORE app at ore.supply (connect a Solana wallet like Phantom) or the ORE CLI (download from GitHub: github.com/regolith-labs/ore-cli). Start mining via the app's one-click interface or CLI commands like ore mine for solo mining or with a pool.
2. Check your rewards: In the app, view your mining dashboard for unclaimed (unrefined) balances. Via CLI, run ore account to see your on-chain mining account details, including unclaimed rewards.
3. Claim to refine: In the app, click "Claim" on your rewards. Via CLI, use ore claim (optionally specify amount with --amount <value>). This deducts 10% as the refining fee, which is instantly redistributed to unclaimed holders network-wide. The remaining 90% becomes refined ORE in your wallet.
4. Post-claim options: Stake your refined ORE for yields via the app's staking dashboard (e.g., in ORE-SOL or ORE-USDC pools) or trade it on DEXes like Jupiter or Raydium. Note that 10% of all SOL used in mining rounds goes to protocol revenue, which buys back and buries ORE for future mining, supporting token value.

Mining is CPU-friendly and accessible from any device, but costs SOL for transaction fees and grid claims (typically break-even or slightly EV- for short-term, but positive long-term via unrefined yields). For more, check the official docs in the app or Discord (discord.com/invite/UbKnZGjd). DYOR, as market conditions (e.g., SOL/ORE prices) affect profitability.

Tokenomics (v3 – Grid Protocol)

Parameter	Value	Notes
Max Supply	5 000 000 ORE	Hard-capped
Emission Rate	≈ 1 ORE / min	Targets full supply in ≈9.5 yrs; net emissions can be deflationary via buybacks
Initial Distribution	0 pre-mine	All coins earned via mining
Current Circulating	≈ 414 000 ORE	(as of Nov 2025)
Miner Reward	100 %	No dev tax or treasury cut; 10% SOL revenue to protocol for buybacks

Scarcity & Emissions

Ore tightened supply from 21 M to 5 M ORE, making each coin 4× scarcer than a Bitcoin relative to its cap. Only ~414 k have been mined so far, leaving > 91 % unissued—gradually reachable over ~9.5 years through the grid protocol. With no pre-mine and no team tax, every future coin lands in miners’ wallets, aligning incentives from day one. The introduction of protocol revenue and automated burying means net emissions can fluctuate between limited inflation and uncapped deflation if protocol revenues are large enough.

Utility & Thesis

• Store-of-value narrative: capped, transparent issuance.
• On-chain composability: swap into stables, LP on DEXes, or collateralise for leverage—capabilities Bitcoin lacks without bridges.
• Future fee-burn: proposal to burn 0.01 ORE tx fee per on-chain transfer, adding long-term deflation.

Roadmap & Development Phases

Phase	Timeline	Deliverables
v1 Launch	Apr 2024	Simple PoW; led to Solana congestion (paused)
v2 Release	Aug 2024	DrillX algorithm, mobile mining, reopen 1 ORE/min
New Protocol Launch	Oct 2025	Grid mining system, protocol revenue, buybacks, refining fee
OreFi Integration	Q4 2025	Wrapped ORE vaults + lending collateral
DAO Governance	2026	On-chain votes for fee-burn, treasury grants
Lightning-Style Payments	2026+	Off-chain ORE channels for micro-pay & gaming

ORE - Fundamental Value

• Accessible Mining: Mine from laptops or mobile devices via the one-tap app or SDK, democratizing proof-of-work without needing specialized hardware.
• Immediate Liquidity: Convert mining rewards into USDC, stablecoins, or leverage in DeFi pools instantly—no long waits or bridge overhead.
• Scarcity Preservation: With a hard cap and no dev reserve, every coin remains scarce forever, positioning ORE as digital gold with programmability.

Strategic Value & Risks

• Strategic Value: Brings a true PoW asset into Solana’s DeFi stack, providing rare store-of-value characteristics alongside on-chain yield strategies.
• Strategic Value: Native composability allows ORE to power hard-money vaults, leveraged products, and scarcity-linked derivatives on Solana.
• Risk: A surge in mining activity could lead to temporary transaction congestion or fee spikes, testing Solana’s throughput limits.
• Risk: The long, linear emission schedule (~9.5 years) means value crystallization depends on sustained demand over decades.
• Risk: Competes with wrapped Bitcoin and synthetic gold alternatives; user trust and adoption hinge on security and decentralization.

Conclusion

Ore marries Bitcoin’s hard-money DNA with Solana’s ultrafast rails, creating a scarce, mine-from-anywhere asset that slots natively into modern DeFi. If the vision plays out, ORE could become the go-to “digital gold” within the Solana economy—hard, liquid, and instantly usable.

Learn more or start mining at ore.supply and follow updates on X: @OREsupply.