[{"data":1,"prerenderedAt":153},["ShallowReactive",2],{"docs:en:\u002Fdocs\u002Fduel\u002Fconcepts\u002Fsplit":3},{"id":4,"title":5,"body":6,"cover":144,"description":145,"extension":146,"meta":147,"navigation":148,"path":149,"seo":150,"stem":151,"__hash__":152},"docs\u002Fdocs\u002Fduel\u002Fconcepts\u002Fsplit.md","The split",{"type":7,"value":8,"toc":135},"minimark",[9,13,22,27,35,45,52,56,59,81,90,94,101,104,108,111,115,127],[10,11,5],"h1",{"id":12},"the-split",[14,15,16,17,21],"p",{},"The split is ",[18,19,20],"strong",{},"side A's share of the duel",". It is the large number on every duel, 54% against 46%, and it\ndecides the rounds.",[23,24,26],"h2",{"id":25},"how-it-is-read","How it is read",[14,28,29,30,34],{},"The split comes from the two ETH pools. If ",[31,32,33],"code",{},"P"," is A's price in ETH divided by B's price in ETH, side A's share is:",[36,37,42],"pre",{"className":38,"code":40,"language":41},[39],"language-text","share of A = P \u002F (1 + P)\n","text",[31,43,40],{"__ignoreMap":44},"",[14,46,47,48,51],{},"At launch both supplies are equal, so the split also matches A’s share of the combined market caps. ",[31,49,50],{},"P = 1"," and the split starts at 50% \u002F 50%. Later burns can make the supplies unequal; the split continues to compare prices per token.",[23,53,55],{"id":54},"what-moves-it","What moves it",[14,57,58],{},"Every trade in ETH:",[60,61,62,69,75],"ul",{},[63,64,65,68],"li",{},[18,66,67],{},"buying A"," with ETH raises A's price, and the split moves toward A;",[63,70,71,74],{},[18,72,73],{},"selling A"," lowers it, and the split moves toward B;",[63,76,77,80],{},[18,78,79],{},"switching from B to A"," moves it toward A from both ends: B is sold and A bought.",[14,82,83,84,89],{},"A switch can go through the A\u002FB pool, which changes no ETH price by itself. If the subsequent ",[85,86,88],"a",{"href":87},"\u002Fdocs\u002Fduel\u002Fconcepts\u002Frealignment","realignment"," runs, its ETH trades can move the split. If it is skipped or moves no ETH price, neither the split nor the round’s average changes. The A\u002FB price never counts directly.",[23,91,93],{"id":92},"market-caps-and-the-split","Market caps and the split",[14,95,96,97,100],{},"For equal supplies and fixed liquidity, a price ratio of 4:1 (an 80% \u002F 20% split) corresponds to a 2:1 ratio of ",[18,98,99],{},"virtual plus real ETH",". It does not imply twice as much real deposited ETH; after burns, the market-cap ratio can also differ from the price ratio. Move the sliders:",[102,103],"split-simulator",{},[23,105,107],{"id":106},"the-leader-has-an-edge-not-a-lock","The leader has an edge, not a lock",[14,109,110],{},"The A\u002FB pool couples the sides when profitable realignment runs. A purchase on one side can then also raise the other side’s ETH price. The strength of that coupling depends on the cross-pool allocation, pool balances and whether the loop can complete; a price lead is not a guaranteed round win.",[23,112,114],{"id":113},"the-split-you-see-and-the-rounds-average","The split you see and the round's average",[14,116,117,118,121,122,126],{},"The large split is ",[18,119,120],{},"live",": it follows the two ETH prices. The round’s average instead integrates their log price ratio over time, then converts it back into a share, shown as “Leading this round… on average”. See ",[85,123,125],{"href":124},"\u002Fdocs\u002Fduel\u002Fconcepts\u002Frounds","Rounds",".",[128,129,132],"callout",{"title":130,"type":131},"Burns and the split","info",[14,133,134],{},"The split compares prices per token. Burns shrink a side's supply over time, so after many buybacks the price ratio and\nthe ratio of market caps drift apart a little. The contracts use the price ratio.",{"title":44,"searchDepth":136,"depth":137,"links":138},2,3,[139,140,141,142,143],{"id":25,"depth":136,"text":26},{"id":54,"depth":136,"text":55},{"id":92,"depth":136,"text":93},{"id":106,"depth":136,"text":107},{"id":113,"depth":136,"text":114},null,"The split is side A's share of the duel. It is the large number on every duel, 54% against 46%, and it\ndecides the rounds.","md",{},true,"\u002Fdocs\u002Fduel\u002Fconcepts\u002Fsplit",{"title":5,"description":145},"docs\u002Fduel\u002Fconcepts\u002Fsplit","MDofgLRdkkcER0a6cfGCpKD2p9UynP2tCMnhzMiw5Pg",1791226974097]