WHITEPAPER · v1.4 · SEPTEMBER 2026

Late Bitcoiners

A community-owned, mineable, deflationary blockchain with native NFTs, staking, a two-way Arbitrum bridge, and a bonding-curve memecoin platform.

No premine. No VC. No gatekeepers. Everyone starts at block zero.

Hard Cap
21M
Premine
0%
Block Reward
50
Halving
210k
Block Time
~3m

Contents

  1. Executive Summary
  2. The Problem
  3. Core Principles
  4. The Chain
  5. Supply & Halving
  6. Fee Economics
  7. Burn & Reserve
  8. Native NFTs
  9. Staking & Treasury
  10. Governance
  11. The Bridge
  12. Memecoin Platform
  13. Encrypted Wallet
  14. Roadmap
  15. FAQ

01Executive Summary

LBTC is a Proof-of-Work blockchain built for the people who arrived late to Bitcoin and never stopped thinking about it.

Bitcoin launched in 2009. Most of us heard about it years later, watched the price climb, and quietly accepted that we'd missed the ground floor. LBTC is a fresh start — same founding principles, a modern feature set, and a fair launch where everyone begins at block zero.

Since genesis, the network has grown to include:

⛏️

Mineable from any laptop

CPU-mineable PoW. No ASICs required. Every block reward goes to whoever finds the next hash.

🔥

Deflationary by design

Early stake unlocks, NFT transactions, and memecoin launches permanently burn LBTC. Supply only ever goes down from here.

🎨

Native NFTs on-chain

Mint, trade, and redeem NFTs directly on the base chain. No smart contracts, no gas wars, no layer-2 tax.

🏦

Honest staking

Yield comes from real app revenue — not inflation, not promises. If usage is zero, yield is zero.

🌉

Two-way Arbitrum bridge

Lock LBTC on the base chain, mint wLBTC on Arbitrum. Or burn wLBTC to get native LBTC back. Live since September 2026.

🚀

Bonding-curve memecoin platform

Launch a coin in 60 seconds. Instant liquidity, creator royalties, NFT minting on top of any coin. Built on the chain's own economy.

The one-line pitch: A mineable, deflationary blockchain that already runs a full application economy on top of it — NFTs, staking, memecoins, and a live cross-chain bridge — all shipped, all working, all before mainnet.

02The Problem

Latecomers are priced out, patronized, and left out. Existing crypto projects solve this by launching another token that the founders already own.

What we saw

Our bet: The people who missed Bitcoin don't need another Bitcoin. They need a chain that does something useful on day one — one where everything from mining to memecoins to a real bridge to Arbitrum is available from the very first block.

03Core Principles

Five rules that don't bend, no matter what the price does.

🌱

0% Premine

Every LBTC in existence was mined by someone running the software. No founder allocation, no treasury reserve, no venture round.

⚖️

Everyone starts equal

The mainnet genesis block rewards the first miner with the same 50 LBTC as block one million. No VIP round. No presale discount.

🛠️

Ship, don't promise

Everything documented here is already live on testnet. The bridge runs 24/7. The memecoin platform has real coins. The wallet encrypts real keys.

🔥

Supply is finite and falling

21M hard cap, and multiple mechanisms remove LBTC from circulation permanently. Deflation isn't a feature — it's structural.

🤝

No gatekeepers

No KYC to mine, no permission to mint, no approval to bridge, no whitelist to launch a coin. The chain is open.

04The Chain

A Proof-of-Work blockchain designed to be mined by ordinary hardware, not just industrial farms.

How a block is built

Every ~3 minutes, a miner somewhere on the network finds a SHA-256 hash that meets the current difficulty target. That block is broadcast to peers, verified by every node, and added to the chain. The miner earns 50 LBTC plus all fees paid by transactions in that block.

Block Structure
#8233 prev: 6e10... nonce: 243875 diff: 400000 1 tx #8234 prev: 4000... nonce: 18302731 diff: 1000000 1 tx #8235 prev: 6000... nonce: 9310825 diff: 4e104e4 4 txs next block ~3 minutes CHAIN OF BLOCKS · each references the one before every transaction is hashed, mined, and recorded permanently
Each block contains a coinbase reward transaction plus every user transaction included by the miner.

Difficulty adjustment

Difficulty re-targets every 5 blocks to keep block production near the 3-minute target. The adjustment window is short by design — the network reacts quickly to hashrate changes so block times stay predictable.

ParameterValueNotes
Block time target180 secRoughly 3 minutes
Difficulty window5 blocksFast retarget
Adjustment cap0.05× – 2.0×Never more than 2× up per window
Hash algorithmSHA-256Same family as Bitcoin
Mempool cap500 txsOldest evicted when full
Max txs per block50Prevents bloat

05Supply & Halving

21 million LBTC. Fixed supply, halving every 210,000 blocks, no exceptions.

Like Bitcoin, LBTC has a hard cap of 21 million coins. Block rewards start at 50 LBTC and halve every 210,000 blocks. The final LBTC will be mined sometime in the next century.

Supply Schedule
21M 16M 8M 4M 0 210k 420k 630k 840k 50 25 12.5 6.25 CUMULATIVE SUPPLY · APPROACHES 21M ASYMPTOTICALLY
Each halving cuts the block reward in half. By block 840,000 the reward is down to 6.25 LBTC per block.
EraBlocksRewardNotes
Era 10 – 210,00050 LBTCLaunch era
Era 2210,000 – 420,00025 LBTCFirst halving
Era 3420,000 – 630,00012.5 LBTC
Era 4630,000 – 840,0006.25 LBTC
Era 5+840,000+3.125 → 0Continues halving

06Fee Economics

Every transaction on LBTC costs 0.0001 LBTC in network fees. Fees go straight to miners, alongside the block reward.

Unlike most modern chains, LBTC does not inflate to fund anything. Miners receive the full block reward plus all transaction fees. Application-layer fees flow through the treasury system described in Section 9.

Where Every 1% App Fee Goes
0.40% POOL 0.20% 0.10% 0.10% 0.20% Liquidity providers Coin creator Stakers 🔥 Burned Reserve POOL 0.40% Deepens liquidity for every holder. Lower slippage. CREATOR 0.20% Paid forever. Launch once, earn on every trade. STAKERS + BURN 0.10% funds yield. 0.10% removed from supply forever. 1.00% total fee · every fraction verifiable on-chain
Every trade on the memecoin platform charges 1% — 100% of it flows to a real, on-chain destination.
ActionChain FeeApp FeeTotal
Send LBTC0.0001 LBTC0.0001 LBTC
Mint NFT (Common)0.0001 LBTC10.00 LBTC10.0001 LBTC
Mint NFT (Legendary)0.0001 LBTC200.00 LBTC200.0001 LBTC
Transfer NFT0.0001 LBTC1.00 LBTC1.0001 LBTC
Launch memecoin0.0001 LBTC5,000 LBTC5,000.0001 LBTC
Memecoin buy / sell0.0001 LBTC1.00%1.0001%
Bridge OUT to Arbitrum0.0001 LBTC1.00%1.0001%

07Burn & Reserve

LBTC's supply doesn't just stop growing — it shrinks. Every major app-layer action removes LBTC from circulation, permanently.

There are five paths that burn LBTC, and three that feed a permanent reserve that never gets distributed:

Deflationary Flow
NFT transfer fees 0.1 LBTC → burn Early stake unlock 2 LBTC → burn Memecoin launch 500 LBTC → burn Memecoin trade 0.10% → burn NFT redeem fee 0.1 LBTC → burn 🔥 BURN SUPPLY DECREASES permanently FIVE PATHS THAT REDUCE LBTC SUPPLY
Every mechanism that burns LBTC is a permanent reduction in supply — the chain can never undo it.

The permanent reserve

10% of every app-layer fee, plus 500 LBTC from every memecoin launch, flows into the permanent reserve — an address that is never distributed to anyone. It exists as a permanent backing layer for the chain.

08Native NFTs

NFTs on LBTC are not smart contracts. They are first-class objects on the base chain — minted, owned, transferred, and redeemed without leaving the ledger.

Every NFT has a name, description, image URL, rarity tier, and an escrow balance that sits in a dedicated on-chain address. When you redeem an NFT, the escrow balance returns to you automatically and the NFT is marked BURNED — but stays visible forever on the explorer.

NFT Lifecycle
🎨 MINT 10-200 LBTC 72% escrow 💼 HOLD yours forever no decay 💵 TRADE marketplace 2% commission 🔥 REDEEM 72% returned marked BURNED Every step emits a permanent on-chain transaction · explorer shows the whole history
The escrow model means redeeming an NFT is always financially meaningful — you get back 72% of what you paid, minus a small fee.

Rarity tiers

RarityMint CostEscrow (refundable)TreasuryReserve
Common10 LBTC7.20 LBTC1.80 LBTC1.00 LBTC
Rare25 LBTC18.00 LBTC4.50 LBTC2.50 LBTC
Epic100 LBTC72.00 LBTC18.00 LBTC10.00 LBTC
Legendary200 LBTC144.00 LBTC36.00 LBTC20.00 LBTC

09Staking & Treasury

Stakers don't earn from inflation. They earn from real application-layer revenue — and the payment is verifiable on-chain.

All app-layer fees flow into a treasury address that distributes to stakers every 20 blocks. Longer locks receive a bigger share.

Revenue → Stakers Flow
NFT mints 18% to treasury NFT transfers 0.9 LBTC each Marketplace 1.8% commission Memecoin fee dripped over 31 days Early unlock 3 LBTC each 🏦 TREASURY distributes every 20 blocks DISTRIBUTED TO STAKERS · by stake weight
No inflation. No fixed APR. If app usage is zero, stakers earn zero. If usage is high, they earn proportionally.

Staking pools

PoolLockWeightMin StakeEarly Unlock Fee
LBTC-30D30 days1.0×10 LBTC5 LBTC
LBTC-60D60 days1.5×10 LBTC5 LBTC
LBTC-90D90 days2.5×10 LBTC5 LBTC
Early unlock split: when a staker unlocks early, the 5 LBTC fee is split — 2 LBTC burned permanently, 2 LBTC to the reserve, 1 LBTC distributed to remaining stakers. Breaking a commitment costs you, rewards the community, and reduces supply.

10Governance

Any wallet can propose. Any wallet can vote. Vote weight equals LBTC balance at the time of voting.

Governance on LBTC is intentionally simple. There are no delegated councils, no multi-sig override, no founder veto. Proposals are created directly on-chain, voting lasts 7 days, and the results are public.

🗳️

Create a proposal

Any address with a positive LBTC balance can submit a proposal with a title, description, and voting options.

📊

Weighted voting

Your vote weight equals your LBTC balance at the moment you cast it. No lockups, no delegation, no vote buying.

⏱️

7-day window

Every proposal runs for exactly 7 days. No early closure, no extension, no manipulation of the timeline.

📢

Fully public

Every proposal and vote is recorded on-chain with a transaction hash. Anyone can audit the outcome.

11The Bridge

Lock LBTC on the base chain. Mint wLBTC on Arbitrum. Trade on real DeFi. Or burn wLBTC and get native LBTC back. Live since September 2026.

Two-Chain Architecture
LBTC CHAIN Proof-of-Work · native 🏦 Vault Address holds locked LBTC ⛏️ Miner + Relay emits lock events ARBITRUM Ethereum L2 · EVM 📜 wLBTC Contract mint / burn 🌉 LBTCBridge user-facing contract ⚡ RELAYER watches both chains 24/7 · runs on server LOCK-AND-MINT BRIDGE · TWO-WAY ~1 block per side · 0.10% bridge fee · no 7-day wait
Bridge IN: LBTC locked in vault → wLBTC minted on Arbitrum. Bridge OUT: wLBTC burned → LBTC released from vault.

How the bridge works

Security model: The bridge is a trusted relayer — a single operator (Late Bitcoiners) verifies deposits and withdrawals and holds the vault keys. This is the same model used by WBTC and Multichain. Before mainnet, we migrate to a 3-of-5 multisig controlled by independent signers.

Contract addresses (Arbitrum Sepolia · testnet)

ContractAddress
wLBTC Token0x09D188e0612259bB37371bda11b8bd152751bAfE
LBTCBridge0x4bB6fB87818A95CE34c745FC1675f10942CCD15c
LBTC Vault1215RNfGGMzXeNhn9SQvhtmrunwVAz1aUn

12Memecoin Platform

Launch a memecoin in 60 seconds. Instant liquidity, creator royalties, NFT minting on top of any coin. Built on a bonding curve.

The Bonding Curve
PRICE (LBTC / token) TOKENS SOLD LAUNCH · 0.00000003 WHERE WE ARE NOW 🎓 GRADUATION · 85 LBTC Price rises as demand grows · every trade is a live on-chain event
The curve replaces the order book. Every coin has instant liquidity from the very first block.

Launch economics

Launching a memecoin costs 5,000 LBTC, split as:

5,000 LBTC Launch Fee Split
10% 10% 80% → TREASURY (dripped over 31 days) 🔥 500 burned 💎 500 reserve 4,000 LBTC → stakers, released at 1/31 per day
Every memecoin launch is simultaneously deflationary, security-funding, and yield-generating.

Creator economics

Coin creators earn 0.20% of every trade, forever. Launch once, earn on every buy and sell for the lifetime of the coin. There is no cliff, no vesting, no clawback.

NFT minting on memecoins

Every memecoin can have its own NFT collection. Minting costs 1,000 tokens of the coin itself — permanently burned. This gives each memecoin a second, scarcer asset class on top of the fungible token, and reduces the coin's supply with every mint.

13Encrypted Wallet

The LBTC wallet runs entirely in your browser. Private keys are encrypted client-side, and the encryption never leaves your device.

Key Encryption Flow
🔑 PRIVATE KEY stays in browser 🔒 ENCRYPT AES-GCM 256 📦 STORE encrypted blob 🛡️ PASS-PROTECTED PBKDF2 600k rounds
Even if your browser storage is compromised, the attacker only gets the encrypted blob — useless without your passphrase.

Security properties

14Roadmap

What's shipped, what's next, and what's after that.

Shipped

Proof-of-Work chain · native NFTs · staking pools · marketplace · governance · encrypted wallet · memecoin platform · two-way Arbitrum bridge · illustrated whitepaper

🔄

In Progress

Difficulty tuning · relayer hardening · bridge multisig migration · memecoin spotlight pages · price chart aggregation

🎯

Q4 2026

Mainnet launch on October 1st · mobile wallet · Tier-1 CEX listings · DEX liquidity on Arbitrum

🔮

2027

Trust-minimized bridge (SPV proofs) · RWA tokenization framework · hardware wallet support · additional chain bridges

15Frequently Asked Questions

Is LBTC a fork of Bitcoin?

No. LBTC is an independent Proof-of-Work chain that shares Bitcoin's design philosophy (21M cap, halving, SHA-256) but is written from scratch with a modern feature set — native NFTs, on-chain staking, and a memecoin platform built into the base layer.

How do I mine LBTC?

Download the LBTC Wallet & Miner from the website, create or import a wallet, and click Start Mining. The miner runs on any modern laptop using CPU only. No ASIC, no mining pool, no permission required.

Where does staking yield come from?

100% from real application-layer revenue — NFT mint fees, NFT transfer fees, marketplace commission, memecoin launch fees, and early-unlock fees. There is no inflation, no premine unlock, no fixed APR. If app usage is zero, stakers earn zero.

Is the bridge safe?

The bridge is a trusted relayer — a single operator verifies deposits and holds vault keys. This is the same model WBTC and Multichain use. Before mainnet, the bridge ownership migrates to a 3-of-5 multisig controlled by independent signers, with a full audit pending.

How does the memecoin bonding curve work?

Every coin launches with 30 LBTC of virtual reserves and 1 billion tokens. The price is determined by the formula price = reserves / supply. Buying increases reserves and pushes the price up. Selling decreases reserves and pushes the price down. Every trade executes instantly at the current curve price — no order books, no waiting, no liquidity issues.

What happens when a memecoin graduates?

When a coin's real reserves reach 85 LBTC, it graduates. Graduated coins are eligible for DEX listings on Arbitrum via the bridge, and can be wrapped as w[SYMBOL] tokens. Graduation is a milestone, not a guarantee — most coins never get there.

When is mainnet launch?

October 1st, 2026. On launch day, the testnet chain is discarded and a fresh genesis block is mined. Everyone who participated in testnet will be able to claim a genesis allocation proportional to their testnet activity.

How can I contribute?

Run a full node on a VPS (see the Run a Node guide), mine LBTC with the desktop miner, launch a memecoin, mint NFTs, or join the Discord to help with development, design, or community growth. There is no formal team — the project belongs to whoever shows up.