Overview

What you do: vote, swap, burn. Every week the holders vote for one coin, the war chest buys it and offers its holders HITCOIN at a premium, and everything bought is burned. The box at the top of the board index tells you your move. The rest of this page is the machine behind those three words; the contracts use the M&A names, given in parentheses.

HITCOIN is a token on Robinhood Chain that acquires other tokens. A 3.5% tax on every trade fills a war chest. Once a week the holders pick a target, the war chest buys a toehold and buys back HITCOIN, and the holders of the target are offered HITCOIN for their tokens at a premium. What the war chest acquires is retired. The forum is the deal room: nominations, votes, tenders, and claims all happen in the weekly deal thread.

Two contracts run the whole thing. WarChest collects the fee, executes the toehold and the buyback, and receives greenmail. DealRoom holds nominations, vote locks, the tender escrow, and the earn-out schedule. Neither has an owner over funds. Parameters are fixed at deployment.

Weekly cycle

One deal per week, on a fixed schedule in UTC. Every phase is a state of the same thread.

If no nomination reaches quorum, there is no deal that week. The war chest keeps growing and nominations reopen on Monday.

War chest

• HITCOIN trades on a Pons v2 pool. Every buy and sell pays two things: the standard Pons fee of 1%, of which 0.70% of volume is the creator share, and a creator tax of 3.5% that goes entirely to the creator. Both are paid in ETH, on the bonding curve and in the pool alike.
• The creator is the WarChest contract, set when the token was created. So the war chest takes 4.20% of every trade: the 3.5% tax plus the 0.70% creator share. It cannot be pointed at a wallet, and the tax is fixed at creation, so it cannot be raised later.
• Anyone can call harvest. The contract sweeps the pool fees into the war chest and pays the caller a bounty of 0.5% of the amount moved.
• The war chest balance and the weekly budget are shown in the header of every page.

Ballot (the LOI)

• The ballot opens on Monday for 48 hours.
• A wallet holding at least 0.1% of supply sponsors a pitch: it names the coin by contract address and locks a bond of 0.1% of supply. One sponsorship per wallet per week. In the contracts this is the letter of intent.
• The target must be a Pons token that has graduated to its pool. HITCOIN itself cannot be nominated.
• The spot price of the target is recorded at nomination.
• Bonds return after the burn, or on cancellation.

Vote (the proxy fight)

• A vote is a lock: the tokens move into DealRoom for the rest of the cycle. Weight equals the amount locked.
• Each wallet can lock at most 2% of supply. Quorum is 5% of supply across all nominations.
• The coin with the most locked votes wins if the total reaches quorum and it beats Pass.
• Locks return after the burn. Tokens locked in a vote still count for forum access and rank.

Execution

• The budget is 25% of the war chest at the moment of execution.
• First buy (the toehold). 10% of the budget buys the coin from its own pool. The purchase is visible on the target chart, and the forum bot posts the bear hug letter.
• Buyback. The rest of the budget buys HITCOIN from the Pons pool in 20 chunks through a permissionless crank with a bounty, so no single block carries the whole order.
• Swap rate. HITCOIN received per ETH spent, multiplied by the coin price in ETH, multiplied by 1.25. The coin price is the lower of the spot recorded at sponsorship and the spot at execution. The rate is fixed once the buyback completes.

Swap (the tender offer)

• The window is 72 hours, from Thursday to Sunday.
• A holder of the coin approves the token and calls swap with an amount. DealRoom takes the tokens and allocates HITCOIN at the fixed rate.
• Each wallet can receive at most 5% of the budget in HITCOIN. The offer ends when the window closes or the allocation is used up.
• Allocation is measured by balance change, so tokens with a transfer fee are counted by what actually arrived.

Unlock (the earn-out)

• HITCOIN received in a swap unlocks linearly over 14 days from the burn.
• Claim at any time. The claimable amount is what has vested minus what you already claimed.
• Unlocked and still-locked HITCOIN from a swap both count toward forum access, so a swapping wallet gets the War Room on the day it swaps.

Burn (closing)

• All swapped tokens and the first buy are sent to the dead address.
• HITCOIN bought back but not allocated is sent to the dead address too. A quiet swap still ends as a buyback and burn.
• Vote locks and nomination bonds return to their wallets.
• The Graveyard gets a record with the amounts and the transaction, and the deal thread is locked.
• A 72-hour cooldown follows before nominations reopen.

Greenmail

• During the vote or the tender window, anyone can pay 30% of the budget in ETH into the war chest to cancel the deal.
• HITCOIN already bought back is burned. The first buy is burned. Swapped tokens, vote locks, and bonds become returnable.
• The war chest keeps the payment. The next cycle starts on Monday.

Boards and access

Restricted boards return the error page to readers without access, and their content is never sent to the browser.

Ranks

Ranks come from the chain, not from post counts. Activity is days held. Merit is deals taken part in, by locking a vote, tendering, or filing an LOI.

Identity

• The wallet is the account. There is no email, no password, and no social login.
• Logging in is a signed message. It costs nothing and moves nothing.
• Access is recomputed from wallet balance, tokens locked in a vote, and unclaimed earn-out, on every read and every write.
• Guests read public boards without any of the above.

Faucet

• A fixed daily pot is shared equally by every wallet that mines that day. More miners means smaller shares; the faucet can never pay more than the pot.
• Halving. The pot halves every 8 weeks, like the block reward: 90,000 HITCOIN a day in era 1, then 45,000, 22,500, 11,250, and 5,625 until the reserve is spent, about 46 weeks in all. The faucet page shows the current era and the days to the next halving.
• Mining is proof of work in the browser, no captcha: SHA-256 of your address, the day, and a nonce, until the hash starts with enough zero bits. The contract checks the same hash before it counts you in. If the pot gets crowded, the zero-bit target goes up.
• One claim per wallet per day, and the wallet must be logged in on the forum.
• Faucet coins are paid straight to the wallet: every valid claim is worth the day’s fixed payout, set from yesterday’s turnout, and the day’s pot is the cap. They are yours to vote with, keep, or sell.
• The reserve is 1% of supply. Pons v2 mints the whole supply to the curve, so the reserve is bought at launch and locked in the faucet contract; the contract address and balance are shown on the faucet page.

Numbers at a glance

Contracts

• Network: Robinhood Chain, chain id 4663.
• Launchpad and pool: Pons v2.
• Contracts: the HITCOIN token, WarChest, and DealRoom. Addresses are posted in Announcements at launch and listed here on the same day.
• Retirement address: 0x000000000000000000000000000000000000dEaD.

Glossary

War chest

The ETH held by the WarChest contract, fed by the 3.5% trade tax and the creator share of the pool fee. It pays for every deal.

Ballot

The list of coins holders can vote for this week, plus Pass. Coins get on it by sponsorship.

Sponsor, LOI

A wallet holding 0.1% that puts a pitch on the ballot and locks the bond. In the contracts this is the letter of intent.

Vote, proxy fight

Holders lock HITCOIN behind a coin or behind Pass; the coin with the most locked wins.

Toehold, 13D

The first open-market purchase of the target, made from the war chest before the offer opens.

Bear hug letter

The public notice sent to the target community when the toehold lands.

Swap, tender offer

The window in which holders of the coin swap their tokens for HITCOIN at a fixed rate.

Unlock, earn-out

HITCOIN received in a swap unlocks linearly over 14 days.

Burn, closing

The transaction that burns everything bought and swapped and returns locks and bonds.

Greenmail

A payment into the war chest that cancels the deal.

Retired

Sent to 0x000000000000000000000000000000000000dEaD. It never comes back.

Conquest

A closed deal, listed in the Graveyard.

FAQ

Do I need HITCOIN to read the forum?

No. Every public board is readable as a guest. HITCOIN opens the War Room, and 0.1% of supply opens the Boardroom.

Where do the fees come from?

Every trade pays the 3.5% tax and the standard 1% Pons fee. The tax and the 0.70% creator share of the fee, 4.20% of volume in ETH, are claimed by the WarChest contract. No wallet holds it.

What can be on the ballot?

A token launched on Pons that has graduated to its pool, sponsored by a wallet holding 0.1% of supply. Every sponsorship is checked against that before votes count.

What happens to my locked vote if the deal is cancelled?

It returns at the same time as the nomination bonds, on cancellation or at closing.

Can I swap more than the cap?

No. Each wallet can receive at most 5% of the budget in HITCOIN per deal. The panel shows what you can still take.

When can I claim HITCOIN from a swap?

Any time after the burn. It unlocks linearly over 14 days, so the claimable amount grows every second until the end.

Who can pay greenmail?

Anyone with a wallet, during the vote or the tender window. The price is 30% of the budget.

What if the war chest is small?

The budget is always 25% of what is there. A small war chest means a small deal, not a skipped week.

Is the acquired token really gone?

Yes. Acquired tokens, the toehold, and unused HITCOIN are sent to the dead address at closing. The transaction is linked from the Graveyard.

Why is my rank different from yesterday?

Ranks are recomputed from the chain. Holdings, days held, and deals joined all move.

Something missing? Ask in Meta or read the forum help.