Flat take
Day one and day one thousand charge the same share of every fill.
Whetstone
Whetstone
The Edge Schedule has no setter.
Console · Papers · Rules
‹ problem ›
Use should tighten the rule.
A flat take treats the first fill and the thousandth as the same event. A take someone can edit is a preference.
Aimed take
A key can retune the rule after the floor is open.
The gap
Neither records how long the floor has been in use.
‹ solution ›
A honing market.
Whetstone is a honing market that turns each settled pass into a stricter Edge Share.
Draw Fee
Two percent on every fill. Holding and sending are free.
Edge Schedule
Published at construction. Maps Pass Count to Edge Share.
Pass Count
Steps on every completed transfer and never falls.
Honed WHET
Leaves issue. Cannot return to circulation.
‹ thesis ›
Each pass hones a stricter share.
The Edge Share rises with the Pass Count. An older floor hones more of every trade than a young one.
‹ parts ›
Four things to hold.
Draw Fee, Edge Schedule, Pass Count, Honed WHET.
Draw Fee
Two percent. The whole take.
Edge Schedule
No function can change it.
Pass Count
Read by each transfer.
Honed WHET
Issue only falls when the floor is used.
‹ floor ›
Where WHET fills.
Uniswap v4. ETH is the quote asset. Ethereum is the chain. 150,000 WHET, all of it on the floor at launch.
‹ how ›
A completed transfer.
Read the count. Look up the share. Hone. Step forward.
1 Fill
Draw Fee of two percent leaves the trade.
2 Read
Pass Count selects the Edge Share.
3 Hone
That share of the fee leaves issue.
4 Step
The next transfer reads a count that is never smaller.
‹ possible ›
What a Carrier can expect.
The issue hones with use. The map is readable. Nobody moves a balance.
Older is stricter
Use raises the Edge Share and never lowers it.
Readable map
The Edge Schedule is in storage from block one.
No hand on the lever
The deployer cannot pause, move, or reissue.
‹ model ›
Three numbers.
Issue, take, setters.
150,000WHET issue on the floor
2%Draw Fee on each trade
0setters
Whetstone
The Edge Schedule has no setter.
Rules · Console · Papers