01 / GATE
Direct launch buys hit a closed gate
During the launch window, the hook's beforeSwap path rejects canonical $QBALL pool buys. the buyer does not receive a quiet first fill through the AMM.
chute
The chute path
A launch buy has one accepted route through the machine. the pool hook blocks direct AMM fills, then the queue path turns input into a ticket, a ball number, a round, and a later claim.
02 / HOPPER
Input enters escrow
The queue path checks the same pool key, pulls input into hook escrow, and mints a visible ticket. each ticket receives a ball number inside the current round.
03 / CLEAR
The round settles as a cohort
Once the ball count or block clock makes a round eligible, anyone can call settlement. the round computes one clearing rate across its input and available $QBALL inventory.
04 / TRAY
Claims release fill and refund
After settlement, each buyer claims allocated $QBALL from hook-held inventory. unfilled input is released from that ticket's refund tray.
FORMULA
The rate is a round property
clearing rate = qball allocated to round ÷ input used by round. every ticket in that round references the same rate.
clearing rate = qball allocated to round ÷ input used by round
Read the whitepaper for the complete state model and invariants.