FredX ⛏️ retweeted
Yesterday someone who's opinion and voice has been substantial in the sovereign SoV renaissance that seems to be taking place currently within the current market cycle asked a very simple yet respectable question.
"Why is $ORE needed?"
As someone who is a staunch advocate of both ORE and the grid mining primitive, I don't necessarily see this question as a slap in the face. To give a respectable benefit of the doubt, I genuinely think the question comes from an individual's curiosity and a desire to understand why many of us have gravitated so heavily towards the mechanism that is ORE within its first two years of existence.
Likewise, I think that questions like the one posed are actually needed and we as advocates of the project need to be ready with our own respectable answers.
It allows a broader participation to be measured, challenged, and ultimately improved. And this is ultimately needed in this space.
With that stated, I want to say that I can only speak for myself in attempting to answer the question of why ORE does indeed matter, at least for me personally. What follows is my own personal case for such. These reasonings reflect what I, personally, value in an open monetary system.
1/ Because Permission To Own Is Only Half The Promise
A monetary system becomes more compelling when people can participate in its distribution as well as purchase its supply. ORE makes the question of who gets to mine worth asking again.
2/ Because Scarcity Should Not Require An Industrial Empire
I firmly believe there is room for scarce digital money whose long-term(and this is the key time frame)pursuit does not depend on warehouses of specialized machines. ORE explores whether the machinery can become a shared interface rather than what has become a privately owned barrier.
3/ Because Hardware Manufacturers Should Not Determine The Boundaries Of Participation
When mining(or the creation of money) depends on specialized equipment, access begins long before someone chooses to attempt to join a network. ORE offers a different starting point where the actual participation organized around a protocol rather than a monopolized equipment supply chain(currently 96% of BTC mining rigs are produced by two companies)
4/ Because Geography Should Have Less Power Than Opportunity
Currently 3 countries(the United States, Russia, China) account for 67% of BTC hash rate. This is not by happenstance. Traditional mining economics favor particular combinations of electricity prices, infrastructure, and regulations. ORE's importance lies in exploring a model where those geographic advantages carry less weight.
5/ Because Capital Can Coordinate People Without Purchasing More Machinery
I firmly believe that economic commitment can take forms beyond consuming electricity or acquiring equipment that needs constant updating. I truly believe ORE provides a live experiment in what happens when allocation itself becomes the organizing primitive.
6/ Because The Future Needs Alternatives That Actually Operate.
Criticism can expose the limits of existing systems however working alternatives let people actually make a choice. ORE turns an argument about mining into something people can enter, inspect and help shape.
And perhaps that is one of the defining reason why ORE is needed. Because working alternatives, in their own right, are not only needed but they make ideas accountable.
BTC proved that money could initially exist without a "central issuer". Alternatives such as ORE matter because that former achievement gave us a foundation from which we should be able to explore other ways of distributing value rather than assuming one method is the only route to organized participation.
-fin-
FredX ⛏️ retweeted
I'll admit something. Even we as the team behind ORE struggle to explain it in one liner.
Call it the Store of Value of Store of Values, and you miss its mining design, which over 50 projects have tried to replicate without much success.
Call it Bitcoin on Solana, and you overlook the role of buybacks, yield and reserves.
Call it Gen Z Bitcoin, and you make it sound like a generational rebrand when there's a lot more going on under the hood.
It's easy to ride existing narratives like AI or Bitcoin. People already know what to associate them with.
ORE doesn't have that luxury.
And I think that's partly why some people struggle to fully understand it while struggling to write it off completely.
We're trying to explain something new using the language of things that already exist.
Maybe the problem isn't that ORE is hard to define in a one liner.
Maybe we're still trying to fit it into definitions it was built to outgrow.
FredX ⛏️ retweeted
🎥 As Solana brings traditional assets like stocks and gold onchain, ORE is taking the opposite approach.
@ORE is a Solana-native store of value, mined not sold and bought back with its own revenue.
Why does this matter during the tokenization supercycle? 👇
FredX ⛏️ retweeted
We're celebrating our first year around the sun as solana:oreoU2P8bN6jkk3jbaiVxYnG1dCXcYxwhwyK9jSybcp holders by bringing it back to the origins.
This was a 12 minute conversation with @mattytay in The Lost Tape series, talking everything ORE. We covered the @colosseum hackathon, @HardhatChad as a generational talent, and the competitive edge built into ORE's design against other SOVs.
Shoutout to Matty. He's a great guy who never hesitated for a second to support the content we were making for ORE. He's one of the busiest people in this ecosystem, and we're honored and grateful he always took the time to sit down and chat with us.
FredX ⛏️ retweeted
Do people realise that solana:oreoU2P8bN6jkk3jbaiVxYnG1dCXcYxwhwyK9jSybcp won @colosseum's first ever hackathon ⛏️
Two and a half years later it's a $44M hard money protocol on @solana, and the design is still the most interesting thing on the chain. Here's how it actually works 👇
The mine is a 5×5 grid.
1. Every round, miners deploy SOL onto the squares they like, and one square wins. The randomness comes from a seed committed before the round, mixed with a Solana slot hash nobody can know in advance.
2. The winning square takes back its SOL plus everything on the other 24, minus a 1% fee and a 10% protocol cut of the losing SOL.
3. Every round also mints +1 ORE to the winning square. Some rounds it's split across everyone on it. Other rounds one miner takes the lot, picked by weight of SOL.
4. Then there's the Motherlode. Another +0.2 ORE goes into the pot every round, and it only hits 1 in 500 rounds. When it does, the whole pot pays out.
Where the SOL goes:
1. The protocol cut buys ORE off the market through @JupiterExchange. 90% of every buyback gets buried, burned forever, and 10% goes to stakers.
2. In the first half of September alone that was $1.26M of buybacks and ~18.5k ORE buried.
My favourite detail is refining.
Claim your mined ORE and you pay a 10% fee. That fee goes to the miners who haven't claimed yet.
Paper hands literally pay diamond hands, onchain.
Supply:
The hard cap is 3M and ~497k is circulating. Max 1.2 ORE is minted per round, and the burns eat into it. At the 30-day net pace, max supply is 7,138 days away. That's over 19 years.
On top of that:
1. The ORE Reserve parks protocol-owned liquidity below the market, so buybacks are already bidding when price dips. It had $39k+ deployed before it was two weeks old.
2. ORE paired memecoins can lock supply in a vault whose upgrade authority is frozen. Every ORE fee it earns gets buried. Dashboard by @dchapman and @GRAMS_OF_ORE.
3. $40M in revenue in 11 months of V3, per @Blockworks data.
4. And the Colosseum loop is closing. @ORE just put up an extra $30k at the @solanamobile CLOCK IN hackathon run by @RadiantsDAO, for the top build that integrates ORE.
Team seem based: @HardhatChad @Theptilla @treybuckingham
Go deeper: @zinnresearch's MineShaft Weekly and @networkstate001's GRID Magazine
NFA. DYOR obv
FredX ⛏️ retweeted
A $32M token is growing its reserves at a rate of $200K per month
Enough to buy almost 1% of its supply, at any moment, whenever the token drops
It also allocates 95% of all revenue to token buybacks at any price
It is a built-in plunge protection tool that no other token has in crypto
$SOL going up means that @ORE activity, revenue, buybacks and reserve grow much faster
If you assume SOL pumps to ~$170 which is incredibly realistic, then the reserve could grow up to $500K a month
In this scenario, downtrends become way more muted, whereas holder confidence grows and incentive to sell decreases
This is the cycle where revenue-generating businesses that deploy value back to their holders become the norm
FredX ⛏️ retweeted
Not all buybacks are the same
They're almost always NOT enough to counter inflation
ORE tends to become highly disinflationary whenever it trends higher because there are more miners deploying SOL to the grid
In the most illiquid month of the year AND during a deep bear, we're still seeing ORE buybacks eating up new supply
I thought ORE was very confusing but it's not and the reason there is such a strong community around it is that once you get into it, it all starts making sense
Just like BTC miners spend energy to win block rewards, ORE miners spend SOL to win ORE
The Motherlode is a reward reserve adding 0.2 ORE per round, distributed proportionally on a 1-in-500 trigger.
It sometimes exceeds $20K, even in current market conditions. This for me is one of the best longterm incentives created by ORE. With BTC, you know there isn't much more supply to be mined and for it to be worth it the price of Bitcoin needs to scale up forever. In a scenario where almost all ORE is minted, the Motherlode remains to incentivize miners.
The way ORE works is very playful but also strategic
You allocate SOL to squares in a 25 square grid. After 1 minute, a square is randomly selected and 1 ORE is minted & split among miners that had SOL on it.
You need to make some calculations to see what makes the most sense but generally, trying to pick 1 or 2 squares is not very smart.
There's a lot of people better at me than explaining this, its worth looking into
FredX ⛏️ retweeted
A better explainer for the recent changes which brings Ore solidly into its "v4 life"
In Bitcoin mining, the thing you spend is energy: Energy → consumed permanently → maybe BTC
Previously in $Ore: Your SOL sent to the grid → if you lose, your SOL is transferred into the winning side's payout
Now in Ore mining: 1 SOL deployed → ~0.109 SOL consumed → ~0.891 SOL refunded → chance of ORE
The SOL that doesn't need to be consumed as the mining cost is returned to its original owner instead of becoming the winner's prize.
The ~10.9% that isn't refunded is the closest analogue to electricity expenditure: its the SOL production cost being consumed to try to produce ORE.
FredX ⛏️ retweeted
A Store of Value must be fast enough, open enough, and decentralized enough that custodians never become mandatory.
If speed is insufficient, belief migrates toward intermediaries.
This is how you get IOU tokens masquerading as freedom money.
Ore is the first attempt at a truly non-sovereign digital commodity designed without the velocity bottlenecks that killed its ancestors.
Fast settlement.
Open mining.
Belief-driven supply dynamics.
No committees.
No builders’ tax.
No priesthood.
It’s the oldest monetary idea in the world, rebuilt with modern tools.
Ore is the beginning of a monetary culture shift.
From dependency -> to sovereignty.
From passive holding -> to active belief.
From extraction -> to participation.
New Money will belong to the people and it will be Ore on Solana.
