Printers

A Printer is a share of emissions. Every matured open Printer earns the same share of the daily emission, p(d).

One Printer's daily emission, year one at 1.0x

3,000 matured PrintersEach earns 66.7 UNITED a dayRewards pool on top 20

More matured Printers means a smaller share each. A new Printer joins from the next epoch.

Rule	Detail
Equal shares	Every matured open Printer takes an equal share of the daily emission; a Fractional Printer a tenth of one share
Warmup epoch	A Printer opened in epoch k earns nothing for epoch k and joins from k + 1
Unminted until used	Earnings stay unminted until you redeem or spend them on more Printers through auto-bid
Rewards pool on top	Each Printer's emission adds a rewards pool worth 30% of it; the holder keeps 100% of their own emission
More Printers	One comes with each License; additional ones from the Printer auction, in UNITED only, up to 3 per License each sales cycle and 10 per License in all

• Every new Printer lowers everyone's share a little.
• Every Printer bought at the auction burns 80% of what was paid for it.

Life of a Printer

1. Earn. An equal share of the daily emission, unminted until you redeem or spend it on more Printers.
2. Expand. Buy Printers at the auction to raise your share.
3. Exit. Redeem to mint its share of the License's balance, minus the fee: 70% burned, 30% to the Printers of the same kind that stay open.

The last Printer

• Redeeming a License's last Printer burns the License, and its network rewards stop.
• The wallet's place in the network stays on record; buying a License again resumes network rewards from the next epoch.