State elements constitute the components of the world state

  • Blocks are defined by their constituent transactions, optionally with a consensus proof
  • Consensus proofs are attached to blocks, turning them into confirmed blocks.
  • The world state contains history and coin state

Each transaction has:

  • Transaction inputs, each of which spends a coin (mapping in the coin state) by unlocking its covenant
  • Transaction outputs, each of which has a value, a denomination, and a MelVM covenant
  • Attached data


  • The base currency is “mel”, but the ticker symbol is MEL. This is like “ether” vs “ETH”.
    • We accept mel, Bitcoin, and other cryptocurrencies.
    • The burger cost 4 mel
  • Decimal SI prefixes can be used.
    • A burger and a side of fries costs 6 mel and 33 centimel.
    • The smallest unit of money on Themelio is 1 micromel.
  • SYM and sym is similar.
  • Actual usage that emerges will probably be different and will be “correct”.


  • The PoS system as a whole is Synkletos.
  • Melmint is the cryptocurrency issuance mechanism. It’s not a currency.
    • In the last week Melmint minted a record 3 megamel onto the Themelio blockchain, half of which were locked up and reissued as ERC-20 tokens.