Glossary

The words, defined once, so the group chat can stop arguing. Every definition here is the contract's, with the Fly's commentary after the dash. 🪰

Band — one of the protocol's permanent USDG bids: a Uniswap V4 position ten tick-spacings deep, starting just under the reference price, owned by the hook, with no withdrawal path. Concrete, poured.

Bounty — what compound() pays its caller: 0.5% of the tranche, at most 25 USDG. Free money for a click, until the bots learn the clock.

Compound — compound(): moves up to 2,000 USDG from the pot into a band. Permissionless, once per 30 minutes. The jar, tipped.

Controller — the key that tunes the fee curve within hard caps and can pause the fee. Two- step transferable. Has knobs, not levers.

Creator — the key that receives its share of the protocol fee. Two-step transferable. The dev's wallet, disclosed as such.

Dynamic fee — Uniswap V4's flag that lets a hook set the LP fee per swap. The Living Pool requires it. The weather needs somewhere to live.

Fee, LP — 0.20–0.75% per swap, to all liquidity providers pro rata. Set by the weather and the swap's own impact. The storm pays whoever stood in it.

Fee, protocol — 0.80% (cap 1%) of the USDG side of every swap, split between the creator and the pot. The rent.

Floor — the stack of bands, taken together. Grows at 0.40% of USDG volume. Slow. Say it with us: slow.

Hook — FlyHook, the contract Uniswap V4 calls before and after every swap in the pool. The brain.

Impact — how far a specific swap is projected to move the price; the part of the fee the causer pays. The whale tax.

Living Pool — the FLY/USDG pool plus its hook. The vending machine that started thinking.

Pending / the pot — pendingLiquidityUsdg: protocol fee collected for the floor and not yet compounded. A USDG balance held by the hook. Honey that is not yet concrete.

Pool creator — the key that created the pool and opened trading. Immutable; nothing left for it to do after launch. Retired on day one.

Reference price — what a band is priced against: the current price or its 30–60-minute time-weighted average, whichever gives the lower FLY price. A single transaction cannot raise it. Anti-pump-and-compound.

Seed — the position that opens the pool: ~5,000 USDG and 99% of FLY at full range, one Uniswap position NFT. Not the hook's; see Seed locker.

Seed locker — FlySeedLocker: the contract that holds the seed NFT until its unlockAt (15 days from launch to start; extendable, never shortenable). Its owner can collect the seed's LP fees meanwhile and nothing else. Read unlockAt(), not the tweet.

Regime — the market's rough-ness score, 0–100: an average of recent price moves that halves every 15 minutes of calm. The forecast.

Tick spacing — 200 for this pool; bands are placed on multiples of it.

Tranche — the most one compound() may lock: 2,000 USDG. One scoop per half hour.

Turbulence — the regime score as shown on the dashboard.

USDG — Global Dollar, Paxos's stablecoin, 6 decimals, native on Robinhood Chain. The pool's quote asset and the currency of every fee. Dollars, with an off switch that is not ours.

Weather — SUNNY / SWARM / FOG / STORM / CHAOS: the regime score in five buckets. Vibes, with a number underneath.