24 seats / 1,440 sessions
NETT, a token with its own clearing house
NETT never trades on the spot. Orders wait for the end of the minute, buys and sells settle against each other at one price, and only what is left over reaches the pool. 1,440 times a day, on Avalanche.
00:00Session ---- · now24:00 UTC
Nett clearing
Matched at P · residual capped at 2%
T+0 · DvP
Every sixty seconds, buys and sells meet at one price. Only the difference touches the pool.
The price
Read from the pool when the session clears. It only moves at a clear, so you know it when you order.
The pool
Uniswap v4, NETT / AVAX. A hook refuses every swap that does not come from the clearing house.
The cap
The leftover is swapped with a 2% price limit. What does not fit is refunded, untaxed.
Session 0417
60S2,840 bought, 2,600 sold. 5,200 cancel out at the axis, 240 go to the pool: 96% of the volume never moved the price.
24 seats, one per hour. The holder clears every session of that hour and keeps 1.5% of each.
- 00
- 01
- 02
- 03
- 04
- 05
- 06
- 07
- 08
- 09
- 10
- 11
- 12
- 13
- 14
- 15
- 16
- 17
- 18
- 19
- 20
- 21
- 22
- 23
Seat -- is clearing now
A seat is taken by locking NETT as margin. Hours trade at different prices: the Wall Street open is worth more than 04:00.
Fees are paid inside every clear. Nothing to claim, nothing to stake.
Seat 14 → buy-in
Miss the window, lose the session.
The holder has 10 seconds after a session ends. Then anyone can clear it and take 1.5% plus 5% of the holder's margin. Three fails in the same hour and the seat is gone, half its margin burned.
Outbid at 110%
To take a held seat, lock at least 110% of the holder's margin. The seat changes hands on the next hour.
The old holder keeps every fee already earned and withdraws the margin. Holders top up to stay out of reach.
1,440 sessions a day. The clock does not stop for weekends.
Opened today —
Still to open —
A 2% tax on what clears. A quarter of it burns.
Taken on the NETT side of every executed order, inside the clear. Transfers between wallets pay nothing.
Burned · 0.5%
