Built toback itself.
- 90%
- 10%
- ≥ 1.25× floor
- 0
Live from the contract · refreshed every few seconds
Protocol statistics
01
GOOD at a glance
GOOD is a standard NEAR fungible token (NEP-141, with 24 decimals). You can hold it, send it, and redeem it with the contract for its share of the Hearth at any time.
It is created in exactly one way: when a fire catches, its givers receive new GOOD, paid for out of the 10% of their gifts that goes into the Hearth. Nothing else creates GOOD: no owner, no mint function, no emissions outside the fires.
02
Maximum supply
GOOD started with a maximum supply of 1,000,000,000. That number can never increase. It decreases when:
- A fire is smothered. That week's allowance is destroyed: GOOD that was never minted, and now never can be.
- A week is closed. 52 weeks after a catch, any GOOD its givers never claimed is cancelled, and the cap falls by the same amount.
Burning GOOD (by kindling or redeeming) reduces the GOOD in existence, but it never frees room under the cap.
03
No premine. No team. One locked seed.
There is no premine, no team allocation, no vesting and no owner. After the contract was created, every access key on its account was deleted, so nobody, including the people who deployed it, can change the rules, the parameters or the causes.
There is one thing at launch that needs explaining: the locked seed. The deployer put 1 NEAR into the Hearth, and the contract records a matching 1,000,000 GOOD as an internal counter. That seed is not a balance in anyone's wallet. Nobody owns it; it can't be transferred, redeemed or burned.
It exists for one reason: so the backed supply is never zero. That keeps the floor defined from the very first fire and closes the “first depositor” trick by which an early holder could otherwise distort the floor.
04
How GOOD is minted
When a fire catches, 10% of its gifts go into the Hearth. That fee buys the fire's new GOOD at 1.25 times the current backing floor, but never more than the week's allowance: a quarter of one percent of the remaining headroom under the cap.
The GOOD is earmarked for the fire's givers the moment it settles and shared among them by weight. Each giver claims their own share.
For the curious
M = min(A, ⌊fee · B ÷ (H · 1.25)⌋), with fee = ⌊total · 10%⌋, H the Hearth and B the backed GOOD before the catch, A = ⌊0.25% · headroom⌋. All arithmetic is exact integer math, rounded in the Hearth's favour.
The minting rule
Each new GOOD is paid for with at least 1.25× the floor. Nothing else creates GOOD.
05
Hearth backing
The Hearth is the NEAR held by the contract to back GOOD. It grows only from the fees of fires that catch. Nobody can deposit into it directly, and nobody can withdraw from it except by redeeming GOOD at the floor.
It backs every backed GOOD: the GOOD in wallets, the GOOD earmarked for givers who haven't claimed yet, and the locked seed.
06
The redemption floor
The backing floor is the Hearth's NEAR divided by all backed GOOD. Anyone can burn GOOD and receive exactly that much NEAR per GOOD, at any time. No fee, no delay, no admin, even while earlier fires await settlement.
The floor never goes down. A catch raises it, because new GOOD is paid for above it. A redemption leaves it unchanged, because it rounds in the Hearth's favour. A kindle or a closed week raises it. A smother leaves it where it is. The contract stores the highest floor ever reached and checks after every state change that it hasn't fallen.
THE BACKING FLOOR IS DENOMINATED IN NEAR. IT IS NOT A GUARANTEED MARKET PRICE OR USD VALUE.
If GOOD trades anywhere, its market price can be above the floor or below it. The floor only says how much NEAR the contract will hand back for it.
07
The ratchet
The weekly goal is a number of distinct givers. After a fire catches on its own, the goal steps up by about 10%; after a smother, it steps back down. A fire rescued by kindling doesn't move it, so holders can't pump the goal by buying catches.
The steps are exact fractions, so a catch followed by a smother lands exactly where it started, and the goal stays within fixed bounds.
| Caught on its own | ≈ +10% |
|---|---|
| Caught with a kindle | Unchanged |
| Smothered | ≈ −10% |
08The record so far
Supply reductions & fire ledger
What the cap has lost to smothers and closures, and what each caught fire put into the Hearth and created as GOOD, all derived from the contract's own fire history.
Smothers don't touch anyone's GOOD: they lower the ceiling, not the circulating supply. A week in which nobody gives is smothered too, so an idle protocol slowly lowers its own cap.
09
Kindle economics
In the last 10% of a week, when a fire is at most a quarter of its goal short (always at least one; this week, ), a holder can burn GOOD to lower the goal by one giver.
The first kindle costs one gift's Hearth share (10% of a minimum gift) worth of GOOD at the floor. That is exactly what a real giver would have added to the Hearth. Each further kindle in the same fire costs double.
Burned GOOD is gone, and the NEAR behind it stays in the Hearth for everyone else, so every kindle raises the floor. A holder who owns a share s of all backed GOOD gets s of the burn back through the floor; their net cost is the rest.
Kindles are never refunded and never raise next week's goal. The cause still receives only real gifts.
10
A worked example: fire №0
The first fire on the demo deployment (6-minute fires, minimum gift 0.1 NEAR, goal 4) is a good small example. These figures are recomputed here from its inputs with the same exact arithmetic the contract uses; you can check them against fire №0 on the Good Wall.
Alice gave 1 NEAR. Bob gave 0.1 NEAR as his first-ever gift and named Alice as his spark, so 0.025 NEAR of his weight moved to her. Carol and Dave gave 0.1 NEAR each. Four givers met the goal of four, and the fire caught.
The Hearth started from its seed: 1 NEAR backing 1,000,000 GOOD. The fee of 0.13 NEAR bought 104,000 GOOD at 1.25 times that floor, and the floor rose.
Each giver also paid the 0.005 NEAR record fee on their first gift; it pays for storage and is not part of the gifts above. Notice the proportions: Carol's 8,000 GOOD redeems for about 0.0081 NEAR at the new floor, about 8.1% of her 0.1 NEAR gift. Giving is giving.
Recomputed with the site's protocol math
Example- 1.3 NEAR
- 1.17 NEAR
- 0.13 NEAR
- 104,000 GOOD
- 82,000 GOOD
- 6,000 GOOD
- 8,000 GOOD each
- 0.0000010000
- 0.0000010235
Every GOOD was made by giving.
Check the live numbers, then join the fire.