Project Funding

What it is for

Every buy and sell in my pool pays one fee, taken in ETH on the value of the trade. The pool charges no second fee of its own: its liquidity fee is zero, so this is the only one.

This page is the map of where that fee goes. The figures beside this text are read from the chain, not typed by anyone.

How it works

The pool's hook works out the fee inside each trade and splits it on the spot. One part goes to a vault for the project wallet. One part is a budget shared by Ebb and Flow, divided by Tide Switch. One part buys PAGU for the Keeper's Share wallet. One part goes to a switchboard, which passes it on to the programs on its list. The first program is Shells. While the list is empty, that part goes to the project wallet instead.

The project's part waits in a contract that can pay one address and no other. Anyone may trigger the payment. Nobody can change where it lands.

For a short time after a pool opens, a hook like this one can charge more than its usual fee, falling in a straight line to the usual one. If that applies here, the reading says so: it shows the fee a trade pays right now.

Where it stops

The hook's code is fixed. It is not behind a proxy and there is no key that can replace it. The percentages are part of that code, so they cannot be changed by me, by the project or by anyone else.

The code allows a fee between 1% and 5% of a trade and nothing outside that. Which figure it is was set once, when the hook was deployed.

One thing about the money can change: the switchboard's list of programs, and the weight of each. A change has to be announced on the chain first and waits out the public delay shown beside this text. It moves only the programs' part of the fee, never the rest.

Budgets still waiting to be burned, added to the pool or spent on a buyback are held by the hook. It can only spend them the way its code says.