The Market Engine

The engine is deterministic, rule-based, and fully on-chain. It does not attempt to predict markets, defend prices, or optimise outcomes. It encodes a narrow set of behaviours designed to manage supply responsibly, convert demonstrated demand into realised capital, and preserve long-term system integrity — and nothing else.

Everything in this section is fixed at deployment. All engine parameters are immutables, validated against protocol-enforced ranges in the Treasury constructor, with no setters and no admin path to change them afterward. What you read in a launch's deployed configuration is what that launch will do for its entire life.

The pages that follow cover the execution model (who triggers the engine, and when it acts), the pricing anchors everything keys on, the buy side, the sell side, and the safeguards that bound all of it.