| A_max |
The per-address ceiling on counted contribution, equal to FDV × 2%. Currently 138.84 USDG. Deposits above it are refunded, never allocated. |
| Canonical LP |
The single liquidity pool minted at graduation, pairing the project token against the creator's chosen Stock Token. |
| Creator tax |
An optional 0–10% fee set by the creator at launch, separate from the protocol trading fee. |
| e_i |
Effective contribution. The portion of address i's deposit that actually counts toward the target. Bounded by both z_i and A_max. |
| FDV |
The protocol-fixed internal fully-diluted valuation, 6,942 USDG. Fixed exogenously — the auction does not discover it. |
| Largest remainder |
The deterministic procedure that distributes integer rounding residuals so conservation identities hold exactly. Ties break by ascending address order. |
| MONEY failure |
A round that fails because insufficient total capital was committed. |
| N_min |
The minimum number of distinct participating addresses mathematically capable of clearing a round: ⌈ V_target / A_max ⌉. |
| Pinned |
An address whose effective contribution has been fixed at A_max and removed from the waterfilling problem. |
| PvE |
Player-vs-environment. A launch where a participant's outcome is a function of their own deposit and aggregate demand only — never of block position, gas bid, or reaction speed. |
| reachable |
Aggregate capped demand, Σ min( z_i, A_max ). The quantity the clearing test compares against the target — not total deposits. |
| R_raise · R_pool · R_reserve |
The three supply shares, constrained to sum to exactly 100%. |
| roundId |
The identifier of a single auction round. A failed round is never re-run; a retry is a new roundId. |
| SEATS failure |
A round that fails despite sufficient capital, because too few distinct addresses existed beneath the cap to reach the target. |
| snapshotVersion |
The version counter on a published Merkle root. A correction increments it; roots are never edited in place. |
| Stock Token |
A tokenized real-world asset, chosen by the creator, that the Canonical LP is paired against. |
| USDG |
The protocol's single unit of account for raises and refunds. |
| V_target |
The USDG amount that must be effectively raised for a round to clear: FDV × R_raise. |
| Waterfilling |
The constrained proportional-fill algorithm that solves for every e_i subject to the cap and to exact conservation. |
| z_i |
Address i's cumulative deposit, aggregated across all its deposits before any computation. |