the specification

the protocol's fixed constants, its instructions, and its read interface.

constants

total supply1,000,000,000
transfer fee100 basis points (1.00 percent)
reserve share of fee10,000 basis points (100 percent)
floor precision9 decimals
ratchet ruleup only

all constants are fixed in the program bytecode and the immutable mint configuration. the mint authority and the freeze authority are renounced. no authority is retained over the reserve or the locked liquidity, and no upgrade authority was set on the program.

program instructions

initialize_protocol
fund_reserve
acquire_and_pair
lock_liquidity
ratchet_floor
fallback

read functions

get_floor_level() returns u64the current backed level beneath the token, as a 9-decimal fixed-point number.
get_reserve_value() returns u64the present balance of the program-owned reserve account, denominated in the quote asset.
get_backing_per_token() returns u64the reserve balance divided by the circulating supply. a straightforward read of how much capital stands behind a single token.
get_ratchet_history() returns Vec(RatchetStep)an ordered list of every recorded step. each entry contains the previous floor, the new floor, the backing at the step, and the timestamp.

events

event ReserveFunded { amount: u64, source: Pubkey }emitted by fund_reserve on every transfer that routes a share into the reserve.
event LiquidityLocked { position: Pubkey, amount: u64 }emitted once by lock_liquidity when the withdrawal authority of a position is burned.
event FloorRatcheted { previous_floor: u64, new_floor: u64, backing: u64 }emitted by ratchet_floor when the derived backed level exceeds the recorded floor and the recorded floor is stepped up to match.

program address

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