Everything you need to know about the Donut ecosystem, from mining mechanics to building your own shop.
Donut is a decentralized protocol on the Base network that introduces a novel way to distribute tokens. Unlike traditional mining that requires hardware, Donut uses a competitive "King of the Hill" auction mechanism.
Tokens are emitted continuously to the current auction winner. No pre-sales or VC allocations.
The protocol is immutable and permissionless. Anyone can participate, mine, or build on top of it.
Mining is based on a continuous Dutch Auction. Here is the lifecycle of a mining epoch:
The price to become the King starts high and drops linearly over time (1 hour). It eventually reaches zero if no one buys.
A user pays the current ETH price. They become the King Glazer and instantly start earning DONUT rewards.
When someone else buys the rights, the previous King gets 80% of the new purchase price back!
You need an Ethereum wallet (like MetaMask or Coinbase Wallet) connected to the Base network. Ensure you have some ETH for gas and purchasing.
Watch the "Current Price" on the dashboard. It drops every second. Wait for a price you think is undervalued or fair.
Click "Mine" to pay the current price. You are now the King Glazer! You will stream DONUT tokens to your wallet every second.
When someone outbids you, you automatically receive 80% of their bid. If their bid is higher than what you paid, you made an ETH profit PLUS all the DONUTs you mined!
Donut is a "headless" protocol. This means there is no single official website. Anyone can build a frontend (a "Donut Shop") and earn rewards.
We provide open-source SDKs and builder codes to help you get started quickly.
Get Builder Codes