Parameters
What is tunable, what it is set to, and what bounds it. Anything not listed here is fixed in code. Terms that matter to an open pack — the surcharge, the bid rate, the windows — are frozen onto each acquisition at purchase, so no change here can re-cut a pack already paid for.
Economics
| Surcharge | 10% capped at 30% in the contract |
| Bid rate | 90% of backing bounded 50–100% |
| Backing floor | 111.11% of value bounded 100–150%; the bid must clear the stock |
| Protocol cut, acquisition | 1% of each pack capped at 5% |
| Protocol cut, settlement | 1% of backing return, keeps only capped at 5% |
| Depositor share | 60% of surplus — the only depositor profit |
| $SP buy share | 20% of surplus |
| Protocol share | 20% of surplus, plus rounding dust |
| Min backing | 0.001 ETH floor so dust listings cannot distort weight |
The three surplus shares must sum to 100%; the contract rejects any split that does not. They are runtime parameters on purpose — depositor supply is the launch-critical constraint, so the weighting needs to be tunable toward depositors during bootstrap and rebalanced once supply is healthy.
The window and the crown
| Settlement window | 15 minutes purchaser-exclusive; ≤ finalize window |
| Finalize window | 2 hours then anyone may close to the keep-default; ≤ 7 days |
| Crown tithe | 5% of compensation capped at 20% |
| Crown threshold | 10% over the holder capped at 100% |
Both windows are frozen per-pack at purchase. The durations are tunable because the right length is an empirical question — the window is an option the pool writes to purchasers, and its cost scales with the square root of time.
Mechanics
| Unit size | 1 whole token fixed — one listing is exactly one unit |
| Selection weight | 1e36 ÷ backing fixed |
| Concurrent draws | 1 fixed — a correctness constraint, not a setting |
| Emission period | 15 days nominal clock starts when draws first open; idle days stretch it |
| Emission weighting | √value (depositors) fixed; purchasers split daily pots |
| Buyback routing | 40 / 40 / 20 depositors / purchasers / burned; must sum to 100% |
| Tree capacity | 2²⁰ listings concurrent, not lifetime — slots are recycled |
Switches
| acquisitionsEnabled | owner opens draws; also starts the emission clock |
| paused | owner blocks deposits and draws; never blocks withdrawal |
| escapeMode | owner, one-way unconditional withdrawals, permanently |
paused and acquisitionsEnabled are deliberately separate. acquisitionsEnabled holds the demand side closed while the supply side fills — the loading phase. paused is the incident lever and stops both at once.Bounds that exist for a reason
Every economic parameter above carries a hard bound, and each bound is aimed at the same actor: a compromised owner key. The surcharge cannot become confiscatory, the bid rate cannot be pushed past what escrow can fund, the crown cannot drain compensation, and the cuts cannot quietly become the counterparty's margin. Similarly, the randomness coordinator cannot be changed while a draw is in flight, so a swap cannot be used to reach into an unresolved pack.