Chapter 03

Concepts

A short glossary, written so that the rest of the documentation can stop explaining itself. Nothing here is a definition we invented for marketing reasons — each term maps to something that exists in the contracts or in the API.

Objects

Model token: An ERC-20 deployed by the factory, attached to exactly one upstream model. Fixed supply, one billion units, minted once.
Model id: The provider-side identifier, for example deepseek/deepseek-r1. Written into the token at construction and never changed.
Revenue vault: One per token. Holds ETH from the trade fee. Its only outward path is a swap on the token's pair followed by a burn.
Pair: A Uniswap V2 pool holding the model token and WETH. Created by the Uniswap factory, not by us, and seeded by whoever chooses to.
Trade router: The wrapper a trade can be routed through. Takes a slice of the ETH side, pays it into that token's vault, and swaps the rest on the pair.

Money terms

Trade fee: 100 basis points of the ETH side of a trade routed through the trade router. This is the only thing that fills a vault on its own.
Basis point: One hundredth of a percent. 100 bps is 1%. Fees are expressed in bps because that is how they are stored on-chain.
Buyback: A swap of vault ETH for the model token on that token's pair, executed by a keeper call, at whatever price the pair offers at that moment.
Burn: A transfer to an address with no known key. The tokens still exist on-chain; nobody can move them again, and every surface treats them as out of supply.

Actors

Creator: Whoever called the factory. Receives the full supply at deploy. Has no privileged access to the vault and no role after the launch transaction.
Trader: Whoever buys or sells. Pays the fee if they route through the interface, and pays nothing if they go to the pair directly.
Keeper: Anyone who calls buybackAndBurn. The function is permissionless; a keeper cannot direct the proceeds anywhere except the burn.

There is no admin in this list because there is no admin anywhere in the protocol. No contract here has an owner, a pause, or a withdrawal path — which is a stronger claim than it sounds, and the one worth checking first.