VαLD is a reserve-floor token — ETH flows into a visible balance sheet, rETH underneath compounds the backing, dynamic buffer logic absorbs sell pressure, and the floor lifts without emissions or an operator schedule.
A reserve-floor token whose ETH backing compounds through rETH while the market exposes a live balance-sheet floor, sell-pressure-aware buffer, and deterministic launch rules.
iThe pool is a balance sheet.
iiThe reserve is the floor.
iiiThe hook enforces the rules.
§01
thesis: liquidity should be legible
Most token markets show a price but hide the economic story behind it. A constant-product LP can move sharply while holders have little visibility into what backs the quote, whether fee flow is productive, or how sell pressure is absorbed.
VαLD makes the market read like a balance sheet. ETH entering the system is split between liquid buffer and productive reserve. The reserve is visible, the floor is derived from reserve value, and the hook applies the same rules for every compatible route.
The official market should show what backs it — not only what it last traded for.
§02
architecture: ERC20 stays simple, the hook carries the mechanism
VALD uses a fixed-supply ERC20 and a Uniswap v4 Hook. The token contract does not rely on owner controls, transfer taxes, pauses, rebases, or upgrade hooks. Trading behavior lives in the reserve hook, where it can enforce one pool, one rule-set, and deterministic settlement.
Fixed supply10,000,000 VALD minted to the hook inventory.
Hook-owned inventoryExternal LP add/remove is rejected; the hook itself quotes the reserve curve.
PoolManager settlementExact-input swaps are intercepted, input is taken from PoolManager, and output is synced and settled back.
This differs from a normal LP: inventory and backing are protocol-side state. The website is the intended interface, but the on-chain hook is the enforcement layer for compatible v4 routes.
§03
reserve + rETH: productive backing without emissions
After launch tax is separated, net ETH is allocated between a raw ETH buffer and a Rocket Pool rETH adapter. The raw buffer exists for near-term exits. The rETH side is the productive layer: as rETH appreciates against ETH, the reserve value under the market can grow without new token emissions.
The reserve adapter boundary keeps the accounting explicit: deposit ETH, hold reserve tokens, quote reserve value in ETH, and withdraw ETH when the buffer needs support. The adapter must be mainnet/fork checked before deployment.
§04
curve + floor math
The buy quote uses hook inventory, net ETH, virtual cushion, and current reserve value. The sell quote pays from reserve value against circulating supply. This is intentionally balance-sheet based rather than a promise of external yield.
reserve value
ETH buffer + adapter reserve value
live backing
floor display
(reserve value + virtual ETH) / total supply
balance-sheet floor reference
buy quote
inventory × net ETH / (virtual ETH + reserve + net ETH)
reserve curve
sell quote
reserve value × VALD in / circulating VALD
pro-rata reserve exit
Large buys receive a small deterministic size boost capped at 2.5%. The boost is not an off-chain promotion and not an admin grant; it is a transparent curve adjustment that scales up to the configured full-size threshold.
§05
buffer + sell volume tracking
VαLD keeps an ETH buffer for immediate settlement. The base buffer target is 5% of reserve value. When sells occur, the hook records gross ETH sell volume into a decaying pressure metric. Higher recent sell pressure raises the target buffer up to a capped 15%, keeping more new ETH liquid before routing the rest into rETH.
Base buffer5% target when sell pressure is low.
Pressure capBuffer target can rise to 15% during recent sell pressure.
Decay windowTracked sell pressure decays over 300 blocks.
This is the main reason VALD should not remain an overly simplified reserve hook. Buffer and sell-volume tracking are not decorative features; they reduce brittle exits and make the reserve route more credible.
§06
launch mechanics
Launch protection is deterministic. Trading can only launch after the configured delay. The launch tax starts at 15%, decays by 1% every 50 blocks, and reaches zero after 750 blocks. During the first 50 blocks, buys are subject to a 20,000 VALD per-address cap.
Launch tax is routed directly to the immutable treasury wallet. It is not retained as hidden hook balance and it is not an owner-withdraw model. External liquidity operations are rejected so the market surface stays tied to the reserve hook.
VALD is experimental infrastructure. rETH carries external protocol and liquidity risk, plus integration risk. A v4 Hook market is not a normal constant-product AMM. The floor is a reserve-derived reference, not a guarantee of redemption price, profit, or APY.
Mainnet hook deployment is live and source verification is complete. Trading launch still requires explicit launcher action, PoolManager initialization, and final market-window confirmation. Until launch is called, launchBlock remains 0 and trading is inactive.
live state
block · live