[{"data":1,"prerenderedAt":177},["ShallowReactive",2],{"docs:en:\u002Fdocs\u002Fduel\u002Fconcepts\u002Fpot":3},{"id":4,"title":5,"body":6,"cover":168,"description":169,"extension":170,"meta":171,"navigation":172,"path":173,"seo":174,"stem":175,"__hash__":176},"docs\u002Fdocs\u002Fduel\u002Fconcepts\u002Fpot.md","The pot and the burn",{"type":7,"value":8,"toc":159},"minimark",[9,13,22,27,30,85,88,92,95,106,128,131,134,137,141,144,148],[10,11,5],"h1",{"id":12},"the-pot-and-the-burn",[14,15,16,17,21],"p",{},"Every duel has a pot of ETH. When a round with a winner is settled, it can buy that side on its ETH pool, paying at most about 10% above that side's reference price, and ",[18,19,20],"strong",{},"burns every token it buys",". A round without a winner carries the pot over.",[23,24,26],"h2",{"id":25},"where-the-pot-comes-from","Where the pot comes from",[14,28,29],{},"The table uses default launch terms; each duel’s fees and launch tax are fixed at its launch.",[31,32,33,46],"table",{},[34,35,36],"thead",{},[37,38,39,43],"tr",{},[40,41,42],"th",{},"Source",[40,44,45],{},"Share",[47,48,49,64,72],"tbody",{},[37,50,51,55],{},[52,53,54],"td",{},"Swap fees",[52,56,57,58,63],{},"34% of the 1.2% fee on every trade against ETH (67% for a ",[59,60,62],"a",{"href":61},"\u002Fdocs\u002Fduel\u002Fguide\u002Fcreators#supporter-duels","supporter duel","), plus what the protocol leaves of its share",[37,65,66,69],{},[52,67,68],{},"Anti-snipe tax",[52,70,71],{},"All of it: the tax paid by buys in the first 10 seconds",[37,73,74,77],{},[52,75,76],{},"Realignment",[52,78,79,80,84],{},"All the profit of the hook's ",[59,81,83],{"href":82},"\u002Fdocs\u002Fduel\u002Fconcepts\u002Frealignment","realignment"," after each trade",[14,86,87],{},"The pot is held by the hook as ETH claims in the Uniswap V4 PoolManager, apart from every other duel's pot. Nobody can\nwithdraw it: it can only buy back its own duel's winner.",[23,89,91],{"id":90},"the-buyback","The buyback",[14,93,94],{},"When a round is settled with a winner, the pot buys that side with ETH on its ETH pool, then burns what it bought. The ETH spent goes into the pool, behind the tokens still in circulation.",[14,96,97,98,101,102,105],{},"The buyback has a ",[18,99,100],{},"price ceiling",": it never pays more than about ",[18,103,104],{},"10% above the winner's reference price",". The reference is an exponential average of the ETH pool's ticks (log prices) with a 30-minute time constant — a price held for half an hour weighs about 63% of it, for an hour about 86% — except that it follows the price down at once: whenever the price is below its average, the price itself is the reference. The ceiling sits 953 ticks above it. The buyback spends the pot until it is gone, or until the price reaches the ceiling:",[107,108,109,116,122],"ul",{},[110,111,112,115],"li",{},[18,113,114],{},"A pot that fits under the ceiling"," is spent in full.",[110,117,118,121],{},[18,119,120],{},"A pot too big for its pool",", such as the anti-snipe tax of a new duel, stops at the ceiling: the rest stays in the pot and buys at the next settlement, again up to 10% above the reference.",[110,123,124,127],{},[18,125,126],{},"A price already at or past the ceiling"," when the round is settled buys nothing this time: the whole pot waits.",[129,130],"buyback-ceiling",{},[14,132,133],{},"The reference rises gradually with prices held over time and falls at once with the price. If the current price is already at or above the ceiling, the buyback is skipped. The time-weighted ETH price lead determines the round's winner separately. Since the reference is never above the current price, a buyback never moves the price up by more than about 10% from where it finds it: tokens sold just before the close are not bought back near the average they left.",[14,135,136],{},"Unspent ETH stays in the pot for a later round. After a buyback, the hook attempts realignment; it may be limited or skipped, so the three prices need not agree exactly.",[23,138,140],{"id":139},"why-burn","Why burn",[14,142,143],{},"When a buyback executes, burning makes the winning side scarcer: fewer tokens remain in circulation. A winning round that executes no buyback does not reduce supply through that buyback.",[23,145,147],{"id":146},"watching-it","Watching it",[14,149,150,151,154,155,158],{},"On a duel's page, ",[18,152,153],{},"Pot"," shows the ETH waiting for the next buyback, and the ",[18,156,157],{},"Rounds"," tab lists every settled round:\nits winner, the ETH it spent and the tokens it burned. The leaderboard ranks duels by their burns.",{"title":160,"searchDepth":161,"depth":162,"links":163},"",2,3,[164,165,166,167],{"id":25,"depth":161,"text":26},{"id":90,"depth":161,"text":91},{"id":139,"depth":161,"text":140},{"id":146,"depth":161,"text":147},null,"A duel’s pot collects swap fees, the anti-snipe tax and realignment profit, buys back a round’s winner up to about 10% above its reference price and burns it.","md",{},true,"\u002Fdocs\u002Fduel\u002Fconcepts\u002Fpot",{"title":5,"description":169},"docs\u002Fduel\u002Fconcepts\u002Fpot","r32e5MpZ81zLntsQhqzkbWJdVlBMSXWfztTv9H_2lYo",1791226974097]