01 · Abstract
A fixed-supply token you mine, phase by phase
Bitcoin RH (ticker BTCRH) is a token on Robinhood Chain with a hard cap of 21,000,000 coins, the same number as Bitcoin. There is no presale, no team allocation and no premine. Every coin comes into existence when someone mines it, by calling the contract and paying a public, rising price.
Mining happens in batches. One mine creates 1,000 BTCRH. The first mine costs $0.10, and the price rises by one cent every 100 mines, across 210 phases, up to $2.19 for the last one. Up to 100 mines fit in a single transaction with a single wallet signature. When mine 21,000 is reached, the contract stops minting for good.
This document describes how the token works, how mining is priced and paid, what the contract will enforce, and the risks involved. It is a draft written before deployment, and some details will be confirmed when the contract is audited and published.
02 · Overview
Key facts
Robinhood Chain is an Ethereum Layer 2 built on the Arbitrum stack. It settles to Ethereum and uses ETH for gas. Bitcoin RH lives entirely on this chain: mining, payment and holding all happen there.
03 · Mining
How a mine works
In Bitcoin RH, "mining" is the act that creates new coins. It is not proof-of-work mining as on the Bitcoin network. A user connects a wallet set up on Robinhood Chain, chooses how many mines to do, from 1 to 100, and confirms one transaction. The contract then:
- checks that the request is between 1 and 100 mines and that enough supply remains;
- computes the exact US dollar price of those mines, phase by phase if the request crosses a phase boundary;
- converts that price to ETH using the live ETH/USD rate;
- checks the ETH sent covers the price, keeps the exact amount and refunds any surplus in the same transaction;
- mints 1,000 BTCRH per mine directly to the user's wallet and records the mine publicly on-chain.
There is no limit per wallet. A wallet can mine again as many times as it likes, up to 100 mines per transaction, as long as supply remains.
04 · Price schedule
210 phases, one cent per step
The 21,000 mines are split into 210 phases of 100 mines each. Every mine in a phase costs the same. Each new phase costs one cent more than the previous one. For mine number m (from 1 to 21,000):
| Phase | Mines | Price per mine | Price per coin | Coins minted by the end |
|---|---|---|---|---|
| 1 | 1 – 100 | $0.10 | $0.00010 | 100,000 |
| 2 | 101 – 200 | $0.11 | $0.00011 | 200,000 |
| 10 | 901 – 1,000 | $0.19 | $0.00019 | 1,000,000 |
| 50 | 4,901 – 5,000 | $0.59 | $0.00059 | 5,000,000 |
| 100 | 9,901 – 10,000 | $1.09 | $0.00109 | 10,000,000 |
| 150 | 14,901 – 15,000 | $1.59 | $0.00159 | 15,000,000 |
| 210 | 20,901 – 21,000 | $2.19 | $0.00219 | 21,000,000 |
If the full supply is mined, all mines together cost $24,045. The price only goes up. It never resets and never drops during mining.
Example: a user mines 100 times at the very start. All 100 mines fall in phase 1, so the cost is 100 × $0.10 = $10 for 100,000 BTCRH, plus network gas.
05 · Payment
Priced in dollars, paid in ETH
Prices are set in US dollars so the schedule stays readable and stable. Payment is accepted in ETH on Robinhood Chain only. ETH held on other networks, such as Ethereum mainnet or Arbitrum One, must be bridged to Robinhood Chain first.
- Rate source. The contract reads the ETH/USD rate from a Chainlink price feed on Robinhood Chain. The exact feed address will be taken from Chainlink's official list at deployment.
- Freshness check. If the rate is older than the feed's update window, the contract rejects the mine instead of using a stale price.
- Price buffer. The site sends slightly more ETH than the quoted amount, about 2%, to absorb a rate move between the click and the confirmation.
- Refund. The contract keeps only the exact price and returns the surplus in the same transaction. A user never pays more than the schedule.
Mining proceeds are sent to the project address set in the contract. Gas for the transaction is paid in ETH, as for any Robinhood Chain transaction.
06 · Contract
What the contract enforces
The rules above are written into the contract, not left to the website. The planned design:
- Hard cap. Total supply can never exceed 21,000,000 BTCRH. After mine 21,000, every mine call fails.
- No owner minting. There is no function that lets anyone, including the creator, mint outside the public schedule.
- Public schedule. The price formula is fixed in the code and readable by anyone.
- Batch mining. One call,
mine(n)with n from 1 to 100, mints all batches in a single transaction. - Public record. Each mine emits an event with the wallet, the number of batches and the price paid, which powers the "Latest mines" feed on the site and can be checked on the explorer.
The contract address will be published on the site and verified on the Robinhood Chain explorer before mining opens.
07 · Roadmap
What happens, in order
- Mining. The contract opens at an announced time. Anyone can mine, phase by phase, from $0.10 to $2.19.
- Supply complete. Mine 21,000 is reached. Minting stops forever at 21,000,000 BTCRH.
- Marketplace. We open a marketplace where holders can buy and sell BTCRH with each other.
No dates are promised beyond launch, and there are no price targets.
08 · Risks and disclaimers
Read this before mining
- Not Bitcoin, not Robinhood. BTCRH is not BTC and cannot be redeemed for BTC. Bitcoin RH is an independent project. It is not affiliated with, endorsed by or sponsored by Robinhood Markets, Inc. or the Bitcoin project.
- No promise of value. A coin can end up worth less than the price paid, or nothing. Nothing in this document is investment advice. Only mine what you can afford to lose.
- Price differences. Early miners pay up to 22 times less than late miners. Once trading opens, the market price may be far below the later mining prices.
- No per-wallet limit. A single person can mine many times, and with several wallets, so early phases may be taken quickly.
- Technical risk. Smart contracts, price feeds and the underlying network can fail or be attacked. Transactions on a blockchain cannot be reversed.
- Regulation. Rules for crypto-assets differ by country and change over time. Check what applies to you before taking part.