Documentation

Learn how Gold Reserve works and how to start earning GOLD.

Overview

Gold Reserve is a Solana-based token burning platform where you burn $COIN tokens for a chance to win GOLD at a multiplied payout. Using on-chain verifiable randomness (VRF), each burn has a chance to win big!

The Redemption Mechanics

Payout: Multiplied burn value in USD (multiplier is configurable)

Loss: Tokens burned, no payout received

Winners receive: (burn_usd_value × payout_multiplier) / oro_usd_price = oro_amount

Getting Started

Connect Your Wallet

Click "Start mining" on the landing page and connect your Solana wallet using Privy. We support most major Solana wallets including Phantom, Solflare, and Backpack.

Acquire $COIN Tokens

Make sure you have $COIN tokens in your wallet. You can see your current $COIN balance on the Redeem page after connecting.

Enter Burn Amount

On the Redeem page, enter the amount of $COIN you want to burn. You'll see an estimate of the potential GOLD payout if you win, based on current rates.

Redeem and See Your Result

Click "Redeem" and sign the transaction in your wallet. Your transaction includes both the token burn and a VRF randomness request. Once the VRF result is fulfilled (5-20 seconds), you'll see whether you won or lost. Winners receive GOLD automatically.

How Burning Works

Redemption Flow

You enter your burn amount and click "Redeem"
A preflight check reserves your potential payout from daily limits
You sign a transaction that burns your tokens AND requests VRF randomness
Our system verifies the burn and VRF request on-chain
VRF (Verifiable Random Function) generates a provably fair result
If you win: GOLD is transferred to your wallet
If you lose: Tokens burned, no payout

Snapshot System

When your burn is verified, we capture a snapshot of the current $COIN and GOLD prices. This snapshot is used to calculate your exact payout if you win, ensuring fairness even if prices change during processing.

Transaction States

PENDING — Initial state
BURN_SUBMITTED — Your burn + VRF transaction submitted
VRF_PENDING — Waiting for randomness (5-20 seconds)
VRF_FULFILLED — Randomness received, processing result
ORO_SENDING — (Winners) GOLD transfer in progress
COMPLETED — (Winners) GOLD sent to your wallet
LOST — (Losers) Better luck next time!
FAILED — Transaction failed (contact support)

Provably Fair Randomness

We use ORAO VRF (Verifiable Random Function) on Solana to ensure every redemption is provably fair and cannot be manipulated.

How VRF Works

When you submit a redemption, a random seed is generated client-side and included in your transaction. ORAO's decentralized oracle network generates a verifiable random result that determines if you win or lose.

VRF fee: 0.001 SOL (paid by you as part of the transaction)

Win Determination

Win Determination: The first 8 bytes of the VRF result are compared against a configurable threshold.
On-Chain Verification: Anyone can verify the randomness and result on the blockchain.
No Manipulation: Neither you nor we can predict or change the outcome.

VRF Timing

After you submit your transaction, VRF fulfillment typically takes 5-20 seconds. During this time, you'll see a "Rolling the dice..." animation. Once fulfilled, you'll immediately see your result.

Understanding Payouts

If you win, your GOLD payout is calculated using USD prices at the moment of verification:

Payout Formula (winners only):

(burn_usd_value × payout_multiplier) / oro_usd_price = oro_amount

Example: If the multiplier is 5x and you burn $10 worth of $COIN = $50 → at $50/ORO = 1 ORO GOLD

$COIN Price

The USD price of $COIN determines the value of your burn. This is fetched from on-chain price data at the moment of verification.

GOLD Price

The USD price of GOLD determines how many tokens your winning payout converts to. This is also fetched at the moment of verification.

Rates are updated every 10 seconds on the UI for display purposes. However, your actual payout is always calculated using the exact prices at the moment your burn is verified on-chain.

Technical Details

Blockchain

Gold Reserve operates on the Solana blockchain for fast, low-cost transactions.

Token Standard

Both $COIN and ORO GOLD are SPL tokens (Solana Program Library standard).

Burn Mechanism

Burns are executed using the standard SPL Token burn instruction, permanently removing tokens from circulation.

Rate Limits

API endpoints are rate-limited to 10 requests per minute per IP address to ensure fair access for all users.

Security

Your keys, your coins: We never have access to your private keys. All transactions are signed in your wallet.

Separated services: Our web application and treasury operations run on separate systems. The treasury private key is only accessible to the background worker that processes verified burns.

On-chain verification: Every burn is verified directly on the Solana blockchain before any GOLD is distributed. VRF randomness ensures provably fair outcomes.