Coil
X Launch app

$COIL · Robinhood Chain (4663) · Uniswap v4

Quiet winds the crank. Leaving opens the lid.

Every block the price stays inside its box, the crank turns once. The trade that ends outside opens the lid, and a share of the reserve that grew with the turns buys $COIL and burns. Up or down, it is the same box. Nobody is paid for opening it.

Launch app Read the law
Turns of the crank: 0

Worth now0.00 %

In the reserve0.000

The whole rule, on one tin.

The tin taken apart along one axis. From the top: the spring standing alone with nothing on its end, the lid with its hasp, the catch with no keyhole, the body with its crank drawn out and a counter window reading nought, the tub with a coin slot, and three tabs. Behind the body a strip of graph paper carries the price line between the two rules of the box.
  1. 1

    The box

    An anchor and a half width, in ticks. The anchor is where the last box opened. The width is the same for every box, for the whole life of the pool.

  2. 2

    The crank

    It counts the blocks since the box was drawn, and stops counting at a fixed maximum. It is computed lazily, so a box nobody touches for a day costs no gas for that day.

  3. 3

    The share

    A concave curve of the turns, up to a cap. The second hour of quiet adds less than the first, and no box ever burns the whole reserve.

  4. 4

    The opening

    A swap ends outside the box. In that transaction the share buys $COIL and goes to the dead address, and a new box is drawn around the tick where the swap ended.

  1. 5

    Up and down are the same

    A box that opens upward and a box that opens downward burn the same share for the same turns. The direction is recorded and changes nothing.

  2. 6

    Nobody is paid

    The swap that leaves the box pays the same toll as any other and receives nothing. It is not a prize, so it is not a race, so there is nothing for a sequencer to sell.

  3. 7

    The reserve

    One way in, the tolls. One way out, the dead address, when a box opens. No owner, no withdrawal, no setter.

  4. 8

    Only a swap opens it

    A box opens only when a swap ends outside it, and by no other means. No timer, no keeper, no key in anybody's pocket.

  5. 9

    Riveted at deployment

    The half width, the maximum turns, the curve and its cap are fixed when the contracts are deployed, and have no setter.

Read the law: each part in full

The toy

Wind it yourself.

The same box, on its own clock. Bots range inside it, then leave, then run for a few young boxes, and range again. Buy and Sell move the price line. The lid does the rest.

Worth now 0.00 % of the reserve, which is 0.000 if the lid opened this block
Turns of the crank of 100, then it stops counting 0
In the reserve every toll, until a lid opens 0.000
From the price to each rule in ticks · touching a rule is leaving

60 under the upper rule · 60 above the lower rule

Boxes opened each one redrawn where it ended 0
Burned so far gone for good, to the dead address 0.000

The crank turns once a block while the price stays between the two rules. Nothing burns yet: the reserve fills, and the share it will burn grows with every turn.

This runs the rule on its own numbers; the real ones are set at deploy. Its blocks are slower than the chain's so the crank can be heard, and this is block 1 of the toy, not of the chain.

Six invariants

What the contracts enforce.

Every number is fixed at deployment and published on the law page. The team keeps nothing.

Coil · Fixed at deployment · no setter

  1. I 1A box opens only when a swap ends outside it, and by no other means.
  2. I 2The share burned is a pure function of the turns of that box and of constants fixed at deployment.
  3. I 3The reserve leaves only as burned $COIL, and only at an opening.
  4. I 4Upward and downward openings are identical in every consequence.
  5. I 5No address has any right over the reserve, and no address is paid for opening a box.
  6. I 6The half width, the maximum turns, the curve and its cap are fixed at deployment and have no setter.

Said on the tin

What can go wrong.

Somebody opens the box on purpose.

They can, at the cost of the toll and of the price impact of moving the pool by half a box, and what they get is a burn that belongs to everybody. There is nothing to extract. After a long quiet stretch it is even likely, and this page would rather say so than act surprised.

A dead market.

The crank reaches its maximum and stops, the reserve sits full, nothing burns. It is the honest failure state, and it is why this page shows the turns and the reserve rather than only the total burned: you can see it the moment it starts.

Somebody reads the box as a signal.

The box is drawn by a rule around a past price. This page never calls an opening anything but an opening, never colours up and down differently, and says it in one line.

The box predicts nothing. It counts how long nothing happened.

Contract address

published at launch

Published here and on X at launch, nowhere else. Any other address is not ours.

Launch app

The app reads Robinhood Chain live: the block, the gas, your balance. It quotes a trade on the rule before anything is sent: the toll, where the price would end, whether the lid opens and what would burn. There is no contract yet, and the app says so.