Pioneer.
07 / How it works
The whole thing,
in order.
Seven steps. No jargon, no diagram you need a key for.
What you are sending, and the least you will take
One side of the trade is always HYPE — either you are spending it or you are being paid in it. You also pick how long bidding lasts, when you stop waiting, and which of the three environments a Pioneer may touch.
Your assets sit in the router, and nowhere else
They are not lent out, not pooled, not rehypothecated. While no Pioneer holds a live claim, one call brings them home.
Pioneers bid, and a bid is one number
How much HYPE will come back to the router when the fill lands. If you are being paid in HYPE, that is what you receive. If you are spending HYPE, that is what the Pioneer hands back unspent. Higher always wins, and it binds whoever said it.
The router hands over the escrow and calls the winner
What the Pioneer does next is its own business. One pool, five pools, a venue on another layer — the router does not look and does not need to.
What matters is what arrived
Before the transaction can end, the router compares its own balances against your floor and against the winning bid. Short on either and the whole thing reverts as if it had never happened. No quote is read, no oracle is consulted, nobody is taken at their word.
Improvement is shared, the amount is not taxed
Whatever beat your floor goes — to you and — to the vault, where PIONEER stakers can claim it in HYPE. If the fill lands exactly at your floor, the layer earns nothing at all.
The outcome joins a chain nobody can edit
Filled or missed, each outcome is hashed with the one before it. Anyone can replay the log and arrive at the same root — or find the exact point where they cannot.
If the winner never shows
Anyone can end it.
Once the deadline passes, a single call takes — of the winner's collateral — half to you, half burnt — and returns your escrow. You do not have to be the one watching the clock.
What is fixed forever
These are set when the contracts are created and cannot be changed afterwards. Nothing in the layer has an owner.