SPIN

an erc-20 on ethereum. zero initial supply. no operator. no off-switch.

issuance

every spin token was minted against real ether paid by a real buyer. the contract is the issuer. there is no team allocation, no premine, no insider round. the curve is the schedule. the code enforces it.

buy deposits ether into the reserve. sell redeems against it. total supply starts at zero. every token in circulation was bought into existence.

the two phases

spin has two phases. the threshold is one number: circulating supply reaches 3¹⁷.

phase one: 0.2% tax. one ether max buy. nft minting closed. the protocol gathers reserves.

phase two: 0.5% tax. no buy limit. nft minting opens. staking rewards begin releasing.

the transition is automatic and permanent. phase one builds the treasury. phase two distributes it.

curve math

supply at cumulative ether e:

ether returned for selling amount b:

every calculation is on-chain. no oracles. no off-chain data. the curve only knows math.

the curve is asymptotic. max theoretical supply is 3²¹ tokens — unreachable, and pushed further away by every sell that destroys tokens. marginal cost rises with every buy. the market decides when minting stops.

the lock pool

every buy and every sell pays a tax. the tax enters the lock pool. the lock pool is the protocol's memory.

in phase two, the lock pool releases tokens to stakers. release is proportional to how far supply is below the threshold and how many blocks have passed. no inflation. no printed yield. what stakers earn is what traders paid.

vortex

the protocol's nft. 19,683 will ever exist. each costs 13,000 spin and a seven-day lock.

the deposited spin belongs permanently to the original minter. after seven days, the minter reclaims it. the nft can be traded, but the deposit stays with its origin.

stake your vortex. earn a share of the lock pool. the nft stays in your wallet — soft-staked, not deposited. you can unlock your deposit while staked. the nft keeps earning.

weight scales by how many you hold: full weight for the first three, half for the next seven, marginal beyond. this rewards distribution, not concentration.

routing

the bonding curve is a uniswap v4 pool with a hook attached. the protocol ships with a custom router that targets the curve directly. no quote-shopping. no fallback.

most exchanges will route through aggregators. trading on the curve mints or burns supply. trading elsewhere does not. both prices are real. both are available.

no operator

no premine. no team allocation. no admin key. no upgrade path. the deployer holds nothing that any other participant cannot hold.

if everyone who built this disappeared tonight, the contract would run tomorrow. same rules. same prices. that is the point.