Founding Miner terms

Last updated: 12 October 2026. Draft of 11 October 2026. Version label: founding-draft-2026-10-11.

These Founding Miner terms are an agreement between you and Extra Watts B.V. (Herengracht 420, 1017 BZ Amsterdam, Netherlands; KvK 75938650), which runs Peryn. They set out what a Founding Miner receives and for how long. "You" means the person or organisation that controls a Founding Miner identity (section 1).

They add to our terms of service and our acceptable use policy, which also apply. If you also serve AI requests with us as a partner, our partner terms apply as well. Section 9 says which document applies when they differ.

1. Mining identities

Our pool counts mining per identity. There are two kinds:
- a PRL address that mines with our pool directly, where the address is the username your miner connects with;
- a Peryn account whose enrolled nodes mine with our pool.
Each identity is assessed on its own. An account and an address are separate identities, even when the same person controls both.

2. Who qualifies

We publish the Founding Miner window on our pool page: the time it opens and the time it closes, in UTC. We publish both times before the window opens.
An identity becomes a Founding Miner when the first accepted share our pool records for it has a time at or after the opening time and before the closing time.
An accepted share is a share that passed Pearl's own verification and our pool's checks (terms of service, section 12.4). Rejected shares do not count. The time of a share is the time our pool records it as accepted, in UTC, not the time your miner sent it.
Only the first accepted share counts. If our pool recorded an accepted share for an identity before the window opened, that identity does not qualify, even if it mines again during the window.
Only shares on the Pearl main network count. Test networks do not.
Addresses and accounts that we, our staff or our own GPUs use do not qualify. [Proposed, for counsel.]
While the window is open we may move the closing time later. We announce it on the pool page. We do not bring the closing time forward, and we do not reopen the window after it closes.
Our pool's records decide whether an identity qualified. For each Founding Miner we keep the identity, the time and record of its first accepted share, and the window it qualified in.
You can look up any PRL address on our pool page to see whether it is a Founding Miner address. An account sees its own status in the miner portal. We do not show account status publicly.

3. Your status

Founding Miner status is permanent for as long as Peryn operates the pool (section 7). It does not end if you stop mining for a while.
Status stays with the identity that qualified. We cannot move it to another address or account. Changing your payout address in the miner portal does not move or change it. If you mine to a new address, that address is a new identity, and it is a Founding Miner only if it qualifies itself.
For a Founding Miner address, whoever controls the address's private key receives what we pay to it. Keep the key safe. If you lose it, we cannot move the status to another address.
Founding Miner status has no cash value. It is not a share in Peryn or Extra Watts B.V., it is not an investment, and it gives no right to our profits. We do not buy, sell or exchange it.

4. A 0% pool fee

For as long as Peryn operates the pool, the pool fee on everything our pool credits to a Founding Miner identity is 0%.
"Pool fee" means any part of a block's full reward, including the transaction fees in that block, that we keep instead of crediting it to the miners whose shares earned it, and any amount we deduct from what we credit or pay to a Founding Miner identity, whatever we call it. It does not include:
- the Pearl network fee for sending a payout, if we pass that fee on to every miner;
- amounts we withhold under the terms of service (section 12.6) because of a breach or because the law requires it.
This holds whatever pool fee we set for other miners, now or later. Section 12.4 of the terms of service lets us change the pool's parameters with notice. For a Founding Miner identity, that does not apply to the pool fee.
When the pool finds a block, we split the whole reward among the recent shares, as section 12.4 of the terms of service describes, and only then take any pool fee from each other miner's part. A Founding Miner's part is therefore what it would be if no miner paid a pool fee, and the fee other miners pay never changes it.
Every other pool rule applies to you as to every miner: how rewards are split, maturity, the minimum payout, the payout schedule, review and screening (terms of service, sections 12.4 and 12.6). We may change those rules as the terms of service allow, but no change may work as a pool fee on a Founding Miner identity.
"For as long as Peryn operates the pool" means for as long as we, or a company that takes the pool over from us, run a Pearl mining pool under the Peryn name. [Proposed, for counsel: how a company that takes the pool over is bound, and whether a takeover under another name ends these terms.]

This section applies only if you also serve AI requests as a partner under our partner terms.

Under the partner terms, a partner earns a share of what customers pay for the tokens its nodes serve ("your share"). The partner terms set the default share, and your partner dashboard shows yours.
Your floor is the default share set out in the partner terms when the Founding Miner window opened. We record your floor with your identity, and your partner dashboard shows it.
Your share is never lower than your floor, and never lower than the default share in force at the time. If the default share goes up, you get the higher default, like every other partner.
If we agree a different share with you, it is never lower than your floor.
The floor raises your rate only. Which requests count, how nodes qualify, and how and when we pay follow the partner terms. The floor does not make a request payable that the partner terms do not pay for.
The floor applies to requests served by the nodes of:
- a Founding Miner account itself; and
- a partner account to which you have linked a Founding Miner address.
Linking a Founding Miner address to a partner account:
- You link it from the miner portal by signing a message with the address's key, as the portal describes.
- The address must have done at least the minimum amount of accepted mining work during the window that we state in the miner portal.
- You must link it within 180 days after the window closes.
- A link is permanent. An address can be linked to one partner account only, once, and the link cannot be moved later. An account can hold more than one link.
- Accounts that we or our staff use cannot hold a link.
- The floor applies to requests served after the link is made.
While you are a Founding Miner, we end your partner terms only for a serious breach or where the law requires it. No change to the partner terms takes your share below your floor.
[Proposed, for counsel: what happens to the floor if we stop paying any partner for serving AI requests.]

6. Bonus rules

Founding Miner status does not add a bonus of its own.
The launch bonus in the partner terms applies to Founding Miners in the same way as to every other partner: the same qualification, rates and limits.
The launch bonus is not locked. It changes and ends as the partner terms say.
The floor in section 5 applies to your share only, not to the launch bonus. Any bonus is paid on top of your share and does not count towards the floor.

7. How long these terms last

Founding Miner status and the benefits in sections 4 and 5 last for as long as Peryn operates the pool. We do not end them for any other reason.
If you breach our terms of service or acceptable use policy, we may refuse shares, remove nodes, ban an operator or withhold earnings linked to the breach, as sections 12.6 and 12.8 of the terms of service describe. That is not a pool fee, and your Founding Miner record stays.
We screen payouts against sanctions lists and may withhold or refuse payouts where the law requires it (terms of service, section 12.6). Your Founding Miner record stays.
If we stop operating the pool, we will announce it on the pool page and in the miner portal, and email account holders, at least [90] days in advance. We pay out remaining balances in a final payout batch, even if they are below the minimum payout, as long as they are larger than the network fee for sending them. Rewards that are still maturing are paid once they mature. [Proposed, for counsel: notice period.]

8. Changes to these terms

We change these terms only to make them more favourable to Founding Miners, to make them clearer without reducing what they give you, or where the law requires it.
No change reduces the 0% pool fee in section 4 or the floor in section 5.
Changes to the terms of service under its section 16, or to the partner terms under their section 5, do not change these terms.
We post each new version on this page and update the date at the top. We email account holders about material changes.

9. How these terms relate to our other terms

On the pool fee for Founding Miner identities and on the floor, these terms apply over the terms of service and the partner terms. On everything else, the terms of service, the acceptable use policy and the partner terms apply.

10. Law and disputes

Section 17 of the terms of service applies to these terms.

11. Contact

Questions about these terms: legal@peryn.ai. Everything else: hello@peryn.ai.