every trade on pons pays the creator. here the creator is a contract. the coil receives every creator fee the pool pays out and keeps it until someone presses induce. it has no owner, no admin key, no withdraw function, and no way to send anything anywhere except into the pool.

the coil measures flux. flux is the rate at which fees are arriving, sampled every block over a rolling window. a quiet market gives a low reading. a violent one gives a high reading. the reading decides how much of the jar the next press is allowed to spend, so the machine spends faster when the market is loud and slower when it is quiet.

the jar is never spent in one go. each press is limited by a saturation curve so a fat jar drains along a curve instead of dumping, which removes the obvious play of waiting for the jar to get big and then racing to press it. the curve is printed on the induce page with the exact number it will allow right now.

what goes into the core never comes out. every press mints a liquidity position from the jar, sends the position to the burn address, and records it as a ring. the rings stack around the price. the more presses there have been the thicker the wall of depth on both sides of the market, and there is no function anywhere that can unwind a ring.

the direction of each press follows the tape. if the price is below where it was at the last press, the press leans toward buying. if it is above, the press leans toward depth. the lean is a number between one half and one, computed on chain from the two prices, and it is printed for the next press before anyone presses.

the burn address holds every ring. you can open it on the explorer and count them. the site counts them too and the two numbers must agree, which is the only kind of promise this project makes: not a roadmap, a balance you can check.