Two ETH settlement rounds have now run. This note explains, with numbers, how they were distributed, what policy changed between them, and why one wallet's line on the ledger looks different from the others. We'd rather over-explain than let a spreadsheet speak for itself.
The first distribution ran pro-rata by Print Power with no ceiling. One operator — the largest on the network, running roughly 39% of all active PP — received 3.7398 ETH, about 44% of the round. That was the math working exactly as written. The wallet did nothing wrong, gamed nothing, and broke no rule. It simply held a lot of machines.
The same round was interrupted before completion, leaving 75 smaller operators unpaid. On August 29 every one of them was settled in full, at their exact snapshotted amounts — 2.7926 ETH total. Round one is now 100% distributed.
A network where one address can take ~44% of every cashflow round doesn't die from unfairness — it dies from everyone else leaving. So settlement policy changed: no wallet receives more than 10% of any payout round. The overflow doesn't disappear; it redistributes to every other online operator, still pro-rata by PP. A community vote on the exact ceiling is live on our X as this is published.
Scope, stated plainly: the ceiling governs the off-chain ETH fee and royalty distribution only. $ATM emissions are untouched and untouchable — the rewards contract is immutable, pays raw pro-rata by PP, and no one, including us, can change that.
The ceiling is not a punishment and it is not retroactive. Round one was paid under the old rules and stands as paid. From round two onward, every wallet — including the largest — is paid its capped share like anyone else. In round two that share was 0.20 ETH (10% of the 2.0 ETH pool), and it was paid the same evening as everyone else's.
| Ledger line | Amount | Status |
|---|---|---|
| Round 1 · received (uncapped, pre-policy) | 3.7398 ETH | paid · on-chain |
| Round 2 · capped share (10% ceiling) | 0.2000 ETH | paid · on-chain |
round 2 payment: 0x797847195c05b5b7ed66d299bf9c57432a5881b6680741c3cf252505e6fd17b3
Under pure pro-rata the same wallet would have taken 0.766 ETH of round two. The 0.566 ETH difference went to the other 93 operators instead — that redistribution is the entire point of the ceiling. The same rule applies to any wallet in the same position, ours included.
Round one settlement and round two were paid across 169 on-chain transactions on August 29. Two of them, picked arbitrarily — follow either on the explorer and work outward:
0x0fca635c181123896e725626f43147bbd2f92c534909ca0dad89473d4a3c8bb3
0x99b4cb2ea1c32da0dc7197fec69843809d8d56305a8dc654d15a0ab6cc49adad
The full ledger — every wallet, every amount, every hash — is available to any holder who asks.