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How THASOS works

THASOS is a mining game on Elysium, the Hyperliquid chain built by Kinetiq. Every minute, one of 25 blocks wins.

Winning block100%

If you are on the winning block, you get your whole stake back, plus a share of 7% of every losing stake and a share of the round's kHYPE reward.

Staking1%

If you stake THASOS instead of playing, you get a share of 1% of every losing stake, paid in THASOS.

Losing block90%

If you are on a losing block, you get 90% of your stake back.

The kHYPE is paid from THASOS's trading fees. This page covers every rule the contracts enforce, with worked examples. Where this page and the contracts differ, the contracts apply.

Open the appTry a round

The numbers at a glance

1,000,000,000THASOS, created once on Ascend
25blocks on the board
60 sper round, counted from its first stake
10solo blocks per round, known before you stake
90%back on a losing block
7 · 2 · 1% to the pot, burned, to stakers
1/10,000of the Reward Pool per round
5/6 · 1/6to the winning block, to the Motherlode
1 in 500chance per paying round
10%to claim kHYPE, paid to the miners still holding theirs
70 · 30% of the fee share to the Reward Pool, to the treasury
1 huntil a round with no draw is refunded in full

01A round, step by step

  1. A round opens. Its clock doesn't run while the board is empty. The first stake starts a 60-second countdown.
  2. Miners stake. You put THASOS on one or more blocks. Other miners do the same. The app shows the total on every block, live.
  3. Time runs out. From that moment no stake can join the round. Anyone can close it. The keeper bot normally does it within a second or two.
    • Closing asks for a random number and opens the next round in the same transaction, so the game never pauses.
  4. The draw. A few seconds later the random number arrives, and the round is settled. That means four things happen:
    • the winning block is picked;
    • the 10% from losing blocks is split;
    • the kHYPE reward is assigned;
    • the Motherlode is rolled.
  5. Your result. It shows up in the app right away as THASOS and kHYPE "in the mine". You withdraw it whenever you want, or stake it straight into the next round.

A round needs at least one stake to close. An empty round just waits.

You can't stake again while your previous round is still being drawn. That only lasts a few seconds, and the app tells you when it's done.

02Putting THASOS on blocks

  • You can stake on as many blocks as you want, from 1 to all 25.
  • You can stake only once per block per round. You can still add other blocks later in the same round.
  • Each stake must be at least the minimum stake, which the team sets. The app shows the current minimum.
  • You pay from your wallet, from THASOS already waiting in the mine, or from both.
  • Your stake is locked until the round is settled. After that, it is back in your mine balance, minus the 10% if your block lost.
Solo blocks

Every round marks 10 of the 25 blocks as solo. The board tags them SOLO.

  • The contract picks them from the round number, so they are known before anyone stakes and nobody can change them.
  • On a solo block, the kHYPE reward goes to one miner instead of being shared.
  • The THASOS pot is still shared by stake on every block, solo or not. See section 5.

03The draw

Odds. The winning block is keccak256(seed, "block") mod 25. Every block has the same chance, 1 in 25, whatever is on it. Putting more THASOS on a block doesn't make it more likely to win. It only gives you a bigger share if it does.

Where the seed comes from. The mine accepts one randomness provider at a time.

  • Pyth Entropy. The mine uses it whenever Pyth runs on Elysium. Pyth's provider commits to its random numbers in advance and reveals one per request, so it can't pick a result after seeing the round.
  • Operator randomness, used while Pyth Entropy is not available on Elysium:
    • The operator commits in advance to a long chain of hashes, published on chain.
    • After each round closes, it reveals the next link of the chain. The seed mixes that link with the hash of the block that closed the round.
    • Nobody knew that block hash while stakes were open, and the link was fixed long before the round started.
    • So the operator cannot pick a winner. All it can do is fail to reveal. In that case the round is refunded in full after an hour.
    • The operator key never plays.

Why the timing can't be gamed. A stake is only accepted while the round's time is left (block.timestamp < endTime). A round can only close once the time is up (block.timestamp ≥ endTime). So no stake can land in the block that closes the round, and the seed doesn't exist yet when the last stake goes in.

If the draw never comes. If no seed has arrived one hour after the round's end time, anyone can call refundRound. Everyone in that round gets 100% of their stake back, with no 10% taken.

04What you get back in THASOS

Your block What you get
Loses 90% of your stake
Wins 100% of your stake, plus your share of the pot
If you put 100 THASOS on a block that loses
  • 90 back to you
  • 7 to the pot of the winning block
  • 2 burned
  • 1 to THASOS stakers

The pot is 7% of everything staked on the 24 losing blocks. The miners on the winning block share it in proportion to their stake:

Formula
your pot share = pot × (your stake on the winning block ÷ total staked on the winning block)

The rest of the 10%:

  • 2% of losing stakes is burned (sent to 0x…dEaD).
  • 1% goes to THASOS stakers (see section 8).

If nobody is on the winning block, the pot has no one to go to, so it is burned too. That round burns 9% of the losing stakes, and stakers still get their 1%.

Example

One block on an even board

If every block holds 1,000 THASOS (25,000 on the board) and 100 of the 1,000 on block 7 are yours:

  • 24 rounds out of 25, block 7 loses. You get 90 back.
  • 1 round out of 25, block 7 wins.
    • The losing blocks hold 24,000, so the pot is 1,680.
    • You own 10% of block 7, so you get 168 from the pot, plus your 100.
    • That's 268 back.
  • In that winning round, 480 THASOS is burned and 240 goes to stakers.

On average you get 97.12 back per round: 24/25 × 90 + 1/25 × 268. That is a cost of 2.88% before the kHYPE reward.

Example

All 25 blocks

If every block holds 1,000 THASOS and 100 on each block are yours (2,500 in total):

  • whichever block wins, you get 268 back on it, and 90 back on each of the 24 others;
  • that's 268 + 24 × 90 = 2,428, or 97.12% of your 2,500, every round;
  • you are always on the winning block, so you always get a share of the kHYPE reward on a split block, and a chance at all of it on a solo block.

Amounts are rounded down to the token's smallest unit. The dust, a few wei, stays in the contract.

05The kHYPE reward

kHYPE is HYPE staked with Kinetiq, so each kHYPE is worth more HYPE as staking rewards come in. The mine holds kHYPE in its Reward Pool, which trading fees refill (see section 9).

How much a round pays. Each paying round takes

Formula
R = Reward Pool ÷ 10,000
  • 5/6 of R goes to the miners on the winning block.
  • 1/6 of R goes into the Motherlode.

A round pays only if all three of these are true:

  1. the board holds at least minRoundTotal THASOS (set by the team, shown in the app);
  2. at least one miner is on the winning block;
  3. the Reward Pool isn't empty.

Otherwise nothing leaves the pool and the reward stays for later rounds. This stops a single wallet from collecting the pool cheaply when nobody else is playing.

Split blocks (15 per round). The winners' 5/6 of R is shared by stake.

Solo blocks (10 per round). One miner on the winning block takes all of the winners' 5/6 of R. The draw is fair to the size of your stake:

  • Stakes on the block are laid end to end, in the order they were placed.
  • A random point between 0 and the block's total is drawn with keccak256(seed, "solo").
  • Whoever's stake covers that point wins.

If you own 10% of a solo block, you have a 10% chance at the whole reward.

Example

If the Reward Pool holds 50,000 kHYPE, R is 5 kHYPE:

  • 4.1667 kHYPE goes to the winning block, and 0.8333 kHYPE to the Motherlode;
  • if you own 10% of the winning block:
    • on a split block, you get 0.4167 kHYPE;
    • on a solo block, you have a 10% chance at all 4.1667.

How fast the pool pays out. Each paying round takes 0.01% of what's left. If every minute pays and no fees come in:

  • the pool pays out about 13.4% per day, since 1 − 0.9999^1,440 ≈ 0.134;
  • it halves in about 4.8 days.

With fees coming in. If fees add F kHYPE a day and every minute pays, the pool settles where it pays out F a day. At that level it holds about 7.5 days of fees (F ÷ 0.134).

06The Motherlode

  • Every paying round adds 1/6 of its reward to the Motherlode.
  • Every paying round also has a 1 in 500 chance, from keccak256(seed, "motherlode"), to break it open.
  • When it opens, the whole Motherlode goes to the winning block, shared by stake on solo and split blocks alike. It then starts again from zero.

What the numbers mean:

  • On average it opens after 500 paying rounds. If R stays the same, it then holds 500 × R/6, about 83 rounds' worth of rewards.
  • If every minute pays, it opens 2.88 times a day on average (1,440 ÷ 500). Each round is a separate 1 in 500 draw, so long gaps happen too.

07Withdrawing and claiming

THASOS is always free to withdraw. That covers both your stakes coming back and your pot shares. You can also leave it in the mine and stake it into the next round without a wallet approval.

kHYPE arrives unrefined.

  • Claiming unrefined kHYPE costs 10%.
  • That 10% is shared among every miner still holding unrefined kHYPE, in proportion to how much they hold. What you receive this way is refined kHYPE, and it is free to claim.
  • Each time another miner claims, part of their fee is added to your refined kHYPE.
  • If nobody else holds unrefined kHYPE at that moment, the fee goes back to the Reward Pool.
Example

If you hold 2 kHYPE unrefined and other miners hold 98:

  • one of them claims 40, which costs 4 in fees, and 60 stays unrefined, 2 of it yours;
  • you receive 4 × 2 ÷ 60 = 0.133 kHYPE, refined;
  • if you claim after that, you get 90% of your 2 unrefined plus the 0.133 refined: 1.8 + 0.133 = 1.933 kHYPE.

08Staking THASOS

1% of every losing stake goes to THASOS stakers, paid in THASOS.

  • You don't pick blocks, and your stake is never at risk on the board.
  • Rewards are shared by how much each staker has staked.
  • There is no lockup: you can stake, withdraw and claim at any time.
  • If nobody is staking, that 1% is burned instead.
Example

If 10,000,000 THASOS sits on losing blocks in a day and 100,000,000 THASOS is staked (10% of the supply):

  • stakers share 1% of 10,000,000 = 100,000 THASOS that day;
  • if you stake 10,000,000 THASOS (1% of the supply), you own 10% of the staked total and earn 100,000 × 10,000,000 ÷ 100,000,000 = 10,000 THASOS that day.

09Where the kHYPE comes from

AscendEvery THASOS tradepays a 1% fee
Creator share25% or 50%of that fee goes to THASOS
TaxRouterTurned into kHYPEand split on chain
70%Reward PoolEach round pays 1/10,000 of it: 5/6 to the winning block, 1/6 to the Motherlode.
30%TreasuryPays the team, in kHYPE.
  1. THASOS trades on Ascend, Elysium's launchpad. Every trade there pays a 1% fee, and a token's creator share is 25% or 50% of it, so 0.25% to 0.5% of each trade (Odaily). THASOS's share goes to the protocol's fee contract, the TaxRouter.
  2. kHYPE that reaches the TaxRouter is split on chain. Anyone can trigger the split by calling distribute().
    • 70% goes into the Reward Pool.
    • 30% goes to the treasury, which pays the team in kHYPE, not by selling THASOS.
  3. Ascend pools are quoted in USDC, so fees mostly arrive as USDC. They are converted to kHYPE first, then split the same way.

The Reward Pool can only be filled. The only way kHYPE leaves it is as round rewards, which go to the winners.

10THASOS supply

  • The whole supply, 1,000,000,000 THASOS, is created once, on Ascend, where all of it trades.
  • The team gets no THASOS allocation, and there is no reserve. The team is paid from 30% of the trading fees, in kHYPE.
  • The mine never creates THASOS. Its rewards are paid in kHYPE.

Nothing mints THASOS after that, so the supply can only go down. THASOS is burned by:

  • 2% of every losing stake;
  • the whole pot when the winning block is empty;
  • the stakers' 1% when nobody is staking.

11Odds and expected value

  • Every block wins 1 round in 25 (4%).
  • The cost in THASOS. Across all players together, a round costs 3% of what sits on the losing blocks: 2% burned and 1% to stakers. On an even board, that is 2.88% of everything staked. A typical stake gets 97.12% back on average, before kHYPE.
  • The kHYPE reward is what the players get in return. For the players as a group, a round pays more than it costs when the kHYPE it pays is worth more than the 3% of losing THASOS. The bigger the Reward Pool and the less THASOS on the board, the more kHYPE each staked THASOS receives.
  • Variance. Solo blocks and the Motherlode are winner-takes-all. Over a few rounds, results vary a lot around the average.

These are averages, not promises. You can lose part of what you put in.

12Fairness, control and risks

The team can
  • pause new stakes; withdrawing and claiming always stay open;
  • set the round length (20 to 600 seconds), the minimum stake and minRoundTotal;
  • switch the randomness provider, which is needed if a provider stops working;
  • switch off the stakers' 1%, which then burns. It can't redirect that share anywhere else once the mine is open.
The team cannot
  • move your stakes, your winnings or the Reward Pool;
  • change the payout rules (90/7/2/1, 1/10,000, 5/6 and 1/6, 1 in 500, 10%). They are constants in the code;
  • upgrade the contracts. They can't be upgraded.
Risks you take
  • Smart contract risk. The contracts are tested, including a solvency test that replays hundreds of random games on every run. Read the audit status below before you stake a meaningful amount.
  • Randomness. With operator randomness, you trust the operator to reveal every round. If it doesn't, the round is refunded, but the operator alone decides whether a given round gets refunded.
  • Prices. THASOS and kHYPE prices move. The kHYPE reward depends on trading fees, which depend on volume.
  • Rules where you live. THASOS is a game of chance with real-value prizes, and some countries regulate or ban that. Check your local rules.

13Contracts

Contract What it does Address
ThasosMine Rounds, draws, payouts, the Reward Pool, the Motherlode, claims —
ThasosStaking THASOS staking and the stakers' 1% —
TaxRouter Receives trading fees and sends 70% to the pool, 30% to the treasury —
Randomness Pyth Entropy adapter or operator hash chain —

Audit report: —

Main functions, for builders:

  • deploy(blocks, amounts, fromClaimable) stakes on blocks.
  • endRound() closes a round. Anyone can call it, and the caller pays the randomness fee.
  • settleRound(id) settles a seeded round.
  • refundRound(id) refunds a round with no draw after 1 hour.
  • claimThasos(amount), where 0 means everything, withdraws THASOS.
  • claimRewards() claims kHYPE.
  • Read functions: getRound(id), getMiner(address) and getMine().

14Questions

Is this ORE?

It follows the rules of ORE V4, the open-source mining game on Solana: the same 25-block board, the same draw and the same Motherlode. Two things are different. You mine with THASOS instead of SOL. And the rewards are kHYPE bought with trading fees, not newly created tokens.

Can I lose THASOS?

Yes. A losing block costs you 10% of what you put on it. If the board is even, a round costs 2.88% of your stake on average, before kHYPE.

Does it matter which block I pick?

The odds are the same for every block. But if it wins, a block with less THASOS on it gives each of its miners a bigger share of the pot and of the kHYPE.

What is kHYPE?

HYPE staked with Kinetiq. It earns staking rewards, so each kHYPE is worth more HYPE as rewards come in. You can sell it on a DEX, or unstake it with Kinetiq, which takes 8 to 9 days (Kinetiq).

Why did my block win but I got no kHYPE?

One of three reasons:

  • The round had less than minRoundTotal on the board.
  • The winning block was solo and the draw picked another miner on it.
  • The Reward Pool was empty.

What happens if I close the app during a round?

Nothing. Your stake plays out and the result waits in the mine for you.

Why can't I stake right now?

One of three reasons:

  • Your previous round is still being drawn (a few seconds).
  • The round just ran out of time and the next one is opening.
  • New stakes are paused.

Who runs the keeper?

The team runs one. Every step it takes, except revealing operator randomness, is open to anyone, and the app shows a button for it if rounds stop moving.

Why Elysium?

Gas is paid in HYPE, and Elysium makes a block every 100 to 200 ms (Alchemy), so a stake is in a block well before the round ends.

Glossary

Block
One of the 25 squares on the board.
Stake
THASOS you put on a block for one round.
Pot
7% of the losing stakes, shared by the winning block.
Reward Pool
The kHYPE the mine pays rewards from, refilled by trading fees.
Solo block
A block whose kHYPE reward goes to a single miner, drawn by stake.
Motherlode
A growing kHYPE jackpot that opens 1 time in 500.
Unrefined / refined kHYPE
KHYPE you won (10% fee to claim) and kHYPE you received from other miners' claim fees (free to claim).
Keeper
A bot that closes and settles rounds. Anyone can run one.

Sources