how a lamp works
Dark, then glowing. Then dust.
Every Mothly lamp is lit in the dark. For one minute after it is lit no trade can reach it — from the lighter, from a bot in the same block, from anyone, through any router. The hook refuses every swap with the seconds still to wait. When the minute is up the lamp glows, and from then on every trade leaves the same dust, in ETH, for the rest of the lamp's life.
The dark minute
the same minute for every lamp
The dark is set in the block the lamp is lit, from the chain's own clock. It is a constant with no setter: nobody can shorten it, skip it, or extend it. By the time it lifts the lamp has been visible on chain and on this porch for a full minute, and everyone is looking at the same start line.
Above: a lamp counting its minute, over and over. A real lamp counts once, and never again.
Gathered
read from the dust
- —
- Gathered
- —
- Shaken out
- —
- Goes to
held, not yet shaken out
over the lamp's life
the keeper · immutable
Whoever presses this pays the gas. The ETH goes to the keeper regardless — there is no recipient argument to give it.
Recent dust
every router, every lamp
Nothing has fluttered yet.
Why a dark minute
The block a pool is born in belongs to whoever has the fastest wire, and on most launchpads that is also the block the first buy lands in. Here it cannot be. The block a lamp is lit in is never the block somebody buys in.
Why a cocoon
The pool's share of the supply goes into one position across the whole range, held by the hook. The hook has no function that removes it, and it refuses anyone else who tries to add or take liquidity. The ETH buyers put in stays inside and is what sellers are paid from.
Why ETH
A launchpad paid in the tokens it launches has to sell them, and the only place to sell them is the pool it just charged. This one is paid in ETH on both sides, so the keeper never holds a single token it would need to dump.
The four shapes
- Buy, exact input. ETH is named. The dust comes off the top before the curve sees it.
- Sell, exact input. Tokens are named; ETH comes out. The dust comes off what the curve paid.
- Buy, exact output. Tokens are named; ETH goes in. The dust is laid on top of what the curve charged.
- Sell, exact output. ETH is named. The curve is asked for that and the dust besides.