Inside the
monetary engine.
Elevator connects market activity, segregated reserves, time-weighted price signals, and bounded supply operations in one deterministic monetary cycle.
Each contract owns one part of the monetary cycle.
Market observation, asset custody, policy decisions, supply execution, and allocation accounting are separated across seven contracts with one-time configuration.
ELEVATOR HOOK
Observes the ELE/WETH pool, records TWAP data and minimum liquidity, applies the monetary fee state, and routes swap-input fees to protocol recipients.
STAIRCASE CONTROLLER
Qualifies floors, authorizes bounded expansion, manages the mint window, advances or abandons floors, and selects the hook fee state.
RESERVE VAULT
Accounts for Buyback WETH, Stability WETH, and ELE Ascent inventory. It releases ELE to the distributor and funds the Compression Engine.
COMPRESSION ENGINE
Executes budgeted WETH-to-ELE swaps when the compression zone is active and settles acquired ELE directly into the Reserve Vault.
ELE TOKEN
Implements non-rebasing ERC-20 supply with permit, a fixed maximum supply, controller-only minting, and vault-only reserve burns.
ISSUANCE DISTRIBUTOR
Splits each executed expansion tranche between eligible Car weight and the caller that executed the tranche.
ELEVATOR CAR
Tracks deposited ELE, destination floors, time-qualified weight, reward accumulators, claims, and position exits.
PRICE · FEES · LIQUIDITY
OBSERVE · ROUTE · ACCOUNT
QUALIFY · AUTHORIZE
The ELE/WETH pool supplies every monetary signal.
The hook binds policy to a single Uniswap v4 pool with a 0.30% LP fee and 60-tick spacing. Swap and liquidity callbacks update price and liquidity observations.
OBSERVATION RING
1,536 tick-cumulative observations are written at 30-minute intervals, providing 32 days of rolling price history.
TWAP CONSULT
A requested lookback resolves the past cumulative tick, extends the current cumulative value to the present block, and converts the average tick into WETH per ELE.
LIQUIDITY RECORD
The hook records the minimum active liquidity observed during the current monetary epoch. The value resets when an ascent or abandonment resets the epoch.
FEE ACCUMULATOR
WETH monetary fees accumulate as eligible fee production for the epoch. Authorization compares this value with circulating market value.
SPOT READING
The current pool tick supplies a spot price for compression-zone checks. Expansion qualification uses primary and confirmation TWAP windows.
Input-side fees adapt to the monetary state.
The hook adds a state-dependent monetary fee to the pool LP fee. Exact-input swaps settle the fee in beforeSwap; exact-output swaps gross up input settlement in afterSwap.
| STATE | BUY HOOK | SELL HOOK | EFFECTIVE TOTAL | CONTEXT |
|---|---|---|---|---|
| Lobby | 1.00% | 1.00% | 1.30% / 1.30% | Baseline routing |
| Ascending | 1.25% | 1.25% | 1.55% / 1.55% | Qualification dwell |
| Doors Open | 0.80% | 1.50% | 1.10% / 1.80% | Post-tranche window |
| Descending | 0.60% | 1.75% | 0.90% / 2.05% | Abandonment dwell |
WETH INPUT
Five basis points pre-fund bounded keeper gas rebates and twenty basis points route to revenue. The remaining monetary portion splits 60% to Buyback WETH and 40% to Stability WETH.
ELE INPUT
Twenty basis points route to revenue. Every remaining fee unit settles into the Reserve Vault as excluded Ascent inventory; keepers never receive ELE.
Three balances connect fees to future monetary operations.
The Reserve Vault separates reserve purpose at the accounting layer while maintaining direct token backing for each recorded balance.
BUYBACK WETH
Funds Compression Engine swaps. Each execution debits the recorded amount before settlement and returns any unspent WETH to the same balance.
STABILITY WETH
Supplies coverage for proposed new issuance. Stability WETH below the configured floor is excluded from eligible coverage.
ASCENT INVENTORY
Includes ELE received from sell-side fees and compression. Vault-held ELE is excluded from circulating supply and released before minting.
CIRCULATING SUPPLY
Calculated as total ELE supply minus the Reserve Vault’s ELE balance.
INVENTORY CEILING
Reserve inventory above 15% of circulating supply can be burned, returning the vault to its configured ceiling.
circulating supply = total supply − vault ELEReserve inventory contracts circulation without changing total supply until an overflow burn executes.
Two price windows establish the next-floor signal.
Floors form a geometric sequence in WETH per ELE. The controller checkpoints qualification and maintains the Ascending fee state while the signal remains continuous.
floor(n) = launch floor × 1.181262^nEach floor earns 0.10% of anchor supply; qualification threshold = target floor × 1.03.
Consult the 30-minute primary TWAP and 5-minute confirmation TWAP.
Use the lower reading to derive the highest target floor and require positive net WETH flow.
Start or continue the qualification timestamp and set the hook to Ascending.
Maintain qualification for one hour with no checkpoint gap longer than 15 minutes.
Recheck price and every remaining gate when ascent authorization executes.
Authorization becomes circulation in bounded tranches.
Any caller can execute part of an active allocation. Each call is capped at 0.25% of the authorization supply snapshot and the remaining authorized amount.
Size a blended tranche with at most 60% reserve ELE and at least 40% newly issued ELE.
Transfer reserve-funded ELE from the vault to the Issuance Distributor.
Mint the mandatory new-money portion, debiting active mint capacity and every rolling mint window.
Allocate 88% to eligible Car weight, 10% to permanent sell liquidity, and 2% to the team wallet.
Return the Car share to Ascent inventory when no position weight is eligible.
Set the hook to Doors Open for 45 minutes. Any amount left after four hours expires unissued.
tranche = reserve release + new issuanceReserve inventory may supply at most 60% of an executed allocation; newly issued ELE supplies at least 40%.
Buyback WETH converts into excluded ELE inventory.
The Compression Engine can be called by any address when both TWAP and spot price enter the configured compression zone.
ZONE
The 1-hour TWAP and spot price must both be at or below 85% of the active floor.
DEVIATION
Spot and TWAP may differ by no more than 5%.
AVERAGE PRICE
Post-trade average execution price may not exceed 90% of the active floor.
BUDGET
Reference limits are 10 WETH per call, 50 WETH per day, and a 30-minute cooldown.
SETTLEMENT
WETH settles into PoolManager and acquired ELE transfers directly to the Reserve Vault. Compression swaps do not generate a monetary hook fee.
RESERVE VAULT
POOL MANAGER
RESERVE VAULT
Prolonged weakness can move the active floor down one step.
Abandonment is a separate checkpoint process tied to a 30-day TWAP and the state of buyback capacity, qualification, and active expansion.
Require an active floor above zero and a valid 30-day TWAP below 75% of that floor.
Require Buyback WETH to be fully spent, no remaining expansion, and no active ascent qualification.
Maintain abandonment qualification for 30 days with checkpoints no more than one day apart.
Decrease the floor index by one, restore the exact stored floor value, reset the monetary epoch, and begin a new cooldown.
Destination and time determine mining power.
Curve Mining is participation through the Elevator Car contract. Each position escrows ELE, selects a future destination, and builds eligible weight across hour-scale time tiers. Expansion allocations accrue through the Car's Q128 reward-per-weight accumulator.
| POSITION AGE | ELIGIBLE WEIGHT |
|---|---|
| Less than 15 minutes | 0% |
| 15 minutes | 25% |
| 1 hour | 65% |
| 4 hours | 100% |
DESTINATION RANGE
From one to 64 floors above the floor at deposit.
ACTIVATION
A position activates after its first eligibility delay and before its destination floor closes.
QUALIFICATION CUTOFF
Deposits made during an active ascent qualification use a later eligible-from floor.
WEIGHT REFRESH
Mature positions can advance to the next time tier without receiving retroactive allocation.
DESTINATION CLOSE
When the controller reaches a destination, its weight retires and its reward accumulator becomes fixed.
EXIT
Exit removes the position and returns principal plus accrued ELE allocation.
Authorities are narrow and monetary operations remain callable.
One-time bootstrap configuration connects the system. Runtime permissions assign each asset operation to its corresponding contract.
| OPERATION | AUTHORIZED CALLER | RECIPIENT / EFFECT |
|---|---|---|
| Mint ELE | Staircase Controller | Issuance Distributor |
| Burn reserve ELE | Reserve Vault | Reduces vault balance and total supply |
| Credit swap fees | Elevator Hook | Reserve Vault accounting |
| Spend Buyback WETH | Compression Engine | Uniswap v4 PoolManager |
| Release Ascent ELE | Staircase Controller | Issuance Distributor |
| Set fee state | Staircase Controller | Elevator Hook |
| Pause monetary actions | Guardian | Bounded duration up to 24 hours |
| REFERENCE VALUE | PARAMETER | ROLE |
|---|---|---|
| 1.181262× | Floor ratio | Derived from 0.10% quantum and 0.6% supply elasticity |
| 3% | Activation buffer | Price distance above next floor |
| 50 ELE | Floor quantum | 0.10% of immutable launch anchor per cleared floor |
| 2.00% | Event ceiling | Maximum authorized share of current supply |
| 2.00% | Tranche ceiling | Maximum execution share of supply snapshot |
| 10% | Monthly mint ceiling | Early-tier rolling 30-day supply limit |
| 0.50%–1.50% | Reserve coverage | Coverage tiers for concrete candidate issuance value |
| 15m / 1h / 1h | Dwell / cooldown / window | Qualification and expansion timing |