one reserve

the contract's eth balance is the cistern. there is no second account, no fee wallet, no treasury, no router. eth arrives only through mint and leaves only through burn. the storage plate shows the whole state: six words and two mappings. there is nowhere for anything else to live.

burning pays book

a burn of some amount of tokens pays that amount times the cistern over the supply, less forty basis points that stay behind. the curve is not consulted. position does not move. this is why the position on the curve plate only ever advances while the cistern can fall: the curve is a memory of everything that ever entered, the cistern is what is still here.

the cooldown

an address that mints cannot burn for sixty four blocks. that is about six seconds, which is nothing to a person and everything to a bundle. a mint and a burn cannot share a block, cannot share a batch, and cannot be arranged around a pressure reading by the same address in the same breath.

nothing else

no owner. no pause. no upgrade. no allow list. no blacklist. no mint function that takes an address. no withdraw. no rescue. the functions are mint, burn, and views. the contract page on the explorer shows the verified source and its name, and every claim on this page is a field on that page.