the core is the sum of every ring. a ring is one liquidity position in the pons pool, minted by the adapter during a press and transferred to the burn address in the same transaction. the burn address has no private key. the position cannot be collected, cannot be moved, cannot be closed. rings are placed around the price at the moment of the press, with widths that grow with the ring index, so early presses sit tight and late presses sit wide.
| presses | |
| distinct pressers | |
| gain | |
| spent into core, all time | |
| paid to pressers, all time | |
| rings minted | |
| token reserve held | |
| anchor price | |
| spot price | |
| lean for next press | |
| last press block | |
| burn address | 0x000000000000000000000000000000000000dead |
| positions held by the burn address, on chain | |
| rings recorded in events | |
| agree |
ring k spans from spot divided by (1 + base)^(k+1) to spot times (1 + base)^(k+1), where base is a fixed parameter of the machine and k is the ring index. the ring index is the whole number part of log2(n + 1) where n is the press count before this press, so the first press is ring 0, the second and third are ring 1, the fourth to seventh are ring 2, and so on. rings get wider slowly. the depth near the price is built by many early rings, and the far wings by the few late ones.
| press | block | ring | lower | upper | tokens paired | eth paired | lean | presser | position |
|---|