Fees go in.
Buybacks come out.
The manager is blind.
The ledger is not.
A signet is the seal a house pressed into wax to prove a document was closed before anybody opened it. This one does the same job for a trading desk. Every decision is hash-committed on-chain before it trades, revealed in the transaction that executes it, and pays stakers a fixed share of what the reserve actually holds.
↗Pay a share of what you have,
not a share of what was promised.
The obvious design is "0.44% of your stake, every four hours". That is 1,498,000% a year and would take roughly two and a half times the token's market cap in daily trading volume to fund — forever. A protocol advertising it is not paying it. It is scheduling a shortfall and deciding how to word the shortfall later.
payout = min( reserve × 0.20% , staked × 0.44% )
Solvent
A share of the reserve can always be paid, so the reserve decays geometrically instead of hitting a wall. Insolvency stops being an event to survive and becomes a state the contract cannot enter.
Honest
The rate becomes an output, not a promise. Left alone it decays. BUY cycles push it back up. Nobody has to be believed, because nobody is claiming anything.
Self-pricing
At equilibrium the rate settles at exactly fee inflow ÷ staked — the true economic yield of the protocol, discovered rather than invented by a marketing page.
Other rebase protocols print your reward.
This one buys it — and only spends what it bought.
0.44% SURVIVES ONLY AS A CEILING / so a temporarily fat reserve cannot be dumped on whoever happens to be staked that epoch
Read it in whichever order you distrust it.
Protocol
The pipe from trading fee to staker balance, and the four moves that are the manager's entire world.
Vault
The drip mechanism, the decay curve, an honest calculator, and a stake panel that is open right now.
Ledger
Every decision, its commitment, and the block gap that proves the decision came first. Plus how to check one yourself.
Model
What stays sealed, what the digest commits to, and the four ways you could catch us lying without asking us anything.