Concepts
Where the ETH goes
Every purchase splits in up to three parts, and each has exactly one way out.
A purchase with a window#
| Part | Where it sits | Where it can go |
|---|---|---|
| The ETH spent on the tokens | Held by the hook, in your name | Back to you if you undo; into the pool if the purchase is kept |
| The premium | Held by the hook until the window closes | Spent buying tokens from the pool, which are burned |
| The 1% tax | Owed to the dev from the moment you buy | To the dev, in ETH, when anyone calls claimDev |
Your tokens are held beside your ETH, out of the pool. They reach your wallet only if the purchase is kept, so a purchase is either refunded or delivered, never both.
A plain swap#
Without a window it is an ordinary Uniswap swap. The ETH goes into the pool, less the 1% tax, and the tokens come out to you. Selling is the same in reverse: the tokens go into the pool, and the ETH comes out to you, less the tax.
What nobody can take#
- The liquidity. The hook is the only liquidity provider, and no function hands its positions to anyone. Nobody else can add or donate liquidity either.
- A window's ETH. Only its owner can get it back, and only by undoing before the expiry.
- The supply. Nothing can mint a token. The supply only goes down, when premiums buy tokens back and burn them.
The dev receives the tax, in ETH, and nothing else: never a token, never the liquidity, never a window's ETH or premium.