New money,
one cleared floor at a time.

Verify the network and every contract

Elevator is configured for Robinhood Chain, chain ID 4663. Addresses below are release data, not browser-local overrides. A missing address is explicitly shown as unpublished.

Bridge to Robinhood Chain · Review source · MINE ELE

The entire machine in one view

Trading produces price history, fee reserves, and net-flow evidence. Those inputs may qualify unpaid floors. Cleared floors release reserve ELE, mint bounded new ELE, reward Car participants, and add permanent sell liquidity. Weak markets can activate buybacks that move ELE back out of circulation.

Market strength
  → observations and WETH fees
  → sustained target floors
  → reserve release + new issuance
  → Car rewards + permanent liquidity

Market weakness
  → Buyback Reserve becomes executable
  → WETH buys ELE
  → acquired ELE enters excluded reserve inventory

Responsibility is split across immutable contracts

No single contract both observes the market, holds every asset, chooses policy, and distributes rewards. Wiring is performed once during deployment.

ELE is explicit supply, not a rebase balance

Wallet balances change only through ERC-20 transfers, rewards, minting to the distributor, or reserve burns. There is no share index, wrapper token, or global balance adjustment.

Circulating versus reserve supply

ELE held in the Reserve Vault is excluded from circulation. Moving ELE into the vault compresses circulation without changing total supply. Releasing it reverses that circulation change. Minting increases total supply. Burning reserve inventory reduces total and reserve supply together.

Fifty thousand ELE, zero contributed WETH

The entire genesis supply enters five permanent, one-sided v4 positions. No WETH is paired at launch. Geometry creates approximately 7.0022 WETH of synthetic launch valuation and 6.4289 WETH of active virtual depth.

What virtual liquidity means

The positions contain real ELE but initially no WETH. Buyers bring the first physical WETH and remove ELE. Selling traverses the ranges in reverse and can reactivate finite layers.

The v4 hook sits inside every protocol swap

Elevator binds to one ELE/WETH PoolKey with a 0.30% LP fee and 60-tick spacing. Exact-input fees are calculated before the swap. Exact-output input is grossed up after actual consumption is known. v4 return deltas make PoolManager settle the complete obligation.

The first WETH-input trade

At launch PoolManager has no physical WETH available for a pre-settlement fee transfer. The first WETH-input trade therefore waives only Elevator’s hook fee; the 0.30% LP fee still applies. Normal hook fees begin after physical WETH exists.

Fees fund distinct jobs

The 0.30% LP fee belongs to liquidity positions. An additional state-dependent hook fee is assessed on input.

WETH-input routing

Fixed input slices send 0.05% to keeper rebates and 0.20% to revenue. The remaining hook fee is split 60% Buyback and 40% Stability. Only Buyback plus Stability WETH counts as eligible ascent fees.

ELE-input and LP fees

On sells, a fixed 0.20% input slice goes to revenue and the remaining hook-fee ELE enters the Ascent Reserve. LP harvest routes WETH 50% revenue / 30% Stability / 20% Buyback and all harvested ELE to the reserve.

Policy reads time, not a single trade

The hook stores 1,536 cumulative-tick observations at a 15-minute storage interval, approximately 16 days. Consults interpolate history and extend the latest cumulative value to the current block.

A floor is a paid monetary level, not a price guarantee

Every floor is a relative price level anchored to launch. Each newly cleared floor authorizes 0.10% of the immutable 50,000-ELE anchor: exactly 50 ELE.

The 18.1262% spacing derives from the floor quantum and selected 0.6% supply elasticity. The market chooses how many fixed levels it sustains; it does not redefine their spacing.

Price discovers candidates; gates decide whether they count

Qualification must remain live for 15 minutes with checkpoints no more than five minutes apart. The controller stores the minimum target seen during the shared dwell, so a late spike cannot inherit earlier time.

Every gate

1. Valid 30-minute and 5-minute TWAPs.
2. Sustained target above the cleared high-water.
3. Fresh 15-minute dwell checkpoints.
4. Minimum observed liquidity.
5. Positive signed net WETH flow.
6. Eligible WETH fees at least 0.05% of circulating market value.
7. Candidate-tested Stability coverage.
8. Enough reserve plus mint capacity for a complete floor.
9. First delay, cooldown, prior-expansion, and pause checks.

Fees earn authority to print; they do not collateralize ELE

The higher TWAP is used as valuation price. Stability coverage tests the concrete candidate; it is a gate, not redemption backing. The first 0.1 WETH of Stability is excluded.

Independent ceilings

• 2% gross event cap.
• 2% new issuance per event.
• 2% tranche cap.
• Rolling 24-hour, 7-day, and 30-day caps.
• 21 million hard cap.
• At least 40% newly minted in each executed floor.

Rolling bases exclude still-live mint records, so printing cannot grow its own allowance. The high-water taper never reverses.

Every fully payable crossed floor settles together

DesiredFloors = SustainedTarget - CurrentFloor
MaximumPayable = min(2% event cap,
                     Reserve + MintCapacity,
                     MintCapacity / 40%)
PayableFloors = min(DesiredFloors, floor(MaximumPayable / 50))
Authorized = PayableFloors × 50 ELE

Rounding is downward; no floor is partially paid. Authorization lasts one hour. Execution revalidates price, liquidity, rolling capacity, hard-cap room, and coverage. Whole-floor tranches are at least 15 minutes apart. Expired remainder is erased rather than owed.

Each floor is a separate economic slice

Even inside one aggregate transaction, floors settle in order so destinations stop at the selected level.

Commit ELE and mine the next floor

Curve Mining is the user activity powered by the Elevator Car contract. A miner deposits ELE, chooses a destination above the current floor, waits, activates, and earns floor slices while active through the selected destination.

Lifecycle

1. Deposit ELE and choose a destination one to 64 floors ahead.
2. Wait at least 15 minutes.
3. Activate using current age and destination weight.
4. Refresh prospectively at later age tiers.
5. Claim rewards or exit with principal plus accrued rewards; early exit has no principal penalty.

Destinations are inclusive: a Floor 10 rider receives Floor 10, then stops. Positions are non-transferable.

Qualification cutoff

Deposits made while qualification is active are permanently ineligible for the pending floor and begin at the following floor. Activation rechecks the stored cutoff, so later tranche execution cannot admit a late position.

Weakness can move ELE out of circulation

Compression spends only Buyback Reserve WETH to buy ELE. Acquired ELE settles directly into excluded reserve inventory.

Buyback WETH → WETH-to-ELE swap → Reserve Vault
             → circulating ELE decreases
             → inventory may carry future floors

Activation

• 30-minute TWAP and spot are at or below 85% of active floor.
• Spot/TWAP deviation is no more than 5%.
• Average purchase price is no more than 90% of floor.
• Buyback WETH exists, protocol is unpaused, and caller supplies slippage limits.

Purchased ELE is not automatically burned. It can supply at most 60% of future floors. Inventory above 15% of circulation may be burned permissionlessly.

Issuance continually reinforces the sell curve

Ten percent of each floor accumulates in the liquidity vault. Anyone may lock it into a new one-sided range above current price. Principal is non-withdrawable.

Permissionless harvest does not remove liquidity. WETH LP fees route 50% revenue / 30% Stability / 20% Buyback; ELE fees enter reserve.

The protocol advances because anyone can call it

Anyone may checkpoint observations and qualification, authorize and execute valid floors, compress supply, deploy liquidity, harvest, expire stale expansion, or burn reserve overflow. The optional Keeper Executor can reserve bounded WETH credits only for productive actions.

Rebates

The WETH-only vault caps measured gas, action gas units, gas price, each call at 0.05 WETH, and each four-hour epoch at 0.25 WETH. Exhaustion returns zero rather than reverting completed work.

Very little remains changeable after bootstrap

There are no proxies, governance policy setters, treasury withdrawal keys, or alternate governance mint paths.

What users see as the market changes

Immutable version-one configuration

The hard problem is economic behavior

Tests establish accounting evidence, not economic safety.

• One-pool dependence: TWAPs, fees, flow, and liquidity are correlated.
• Thin launch: approximately seven WETH of virtual geometry creates MEV and ordering risk.
• Price impact: marked rewards may not sell at spot value.
• Concentration: few riders can earn large percentages; more riders dilute rewards.
• Public execution: operations are visible and orderable.
• Liquidity proxy: raw v4 liquidity does not prove independent depth.
• Permanent capital: LP principal cannot be removed.
• Audit and legal: independent technical, economic, and regulatory review remains mandatory.

Terms used throughout Elevator

Active floor

Price of the highest permanently cleared monetary floor.

Ascent Reserve

ELE held by Reserve Vault and excluded from circulation.

Buyback Reserve

WETH only Compression may spend.

Car

Non-transferable participation and reward-accounting contract.

Cleared floor

A relative level whose complete 50-ELE entitlement was authorized.

Compression

Bounded protocol buyback that moves ELE into reserve.

Eligible fees

Hook WETH routed to Buyback and Stability this epoch.

Floor quantum

Fixed 50-ELE gross expansion per cleared floor.

Net WETH flow

Buyer inflow minus seller outflow, excluding compression.

Reserve release

Existing excluded ELE returned to circulation.

Stability Reserve

Segregated WETH used for coverage; only the amount above its immutable floor can be reclassified into gated compression budget.

TWAP

Time-weighted WETH/ELE price from cumulative v4 ticks.

Virtual liquidity

Quoted depth from one-sided ELE positions without launch WETH.

Every WETH subaccount remains physically backed

The Reserve Vault enforces that its physical WETH balance covers Buyback plus Stability accounting. The subaccounts are not discretionary. Compression may reclassify Stability WETH above the immutable floor into Buyback only after its zone and deviation gates pass; the floor itself is unreachable. Direct WETH donations remain unaccounted and unusable unless they arrive through an authenticated credit path.