HOLD DOLLARS
WITH YOUR ETH
WITHOUT BLOWUPS
Deposit ETH. Get two tokens back. One stays steady. One tracks the upside.
Together they always equal what you put in. The math protects you. Nothing can liquidate you.
You decide when to cash out.
HOW IT WORKS
SIMPLEStep 1. You put 1 ETH in. You get a P token and an N token. Each one is a claim on part of that ETH later.
Step 2. Time passes. You can hold both, sell one, or trade them. P holds value steady. N moves with price.
Step 3. On a scheduled date, the price is checked. You claim your share of the locked ETH. P + N always add up to what was deposited. There is no point where the protocol owes more than it has.
FEE_SCHEDULE
TO TREASURYTHE TWO TOKENS ALWAYS ADD UP
Three scenarios. ETH price goes up, down, or sideways. The total stays the same.
PRICE STABLE
PRICE 2X
PRICE 0.5X
OTHER DEFI
RISKYCIRCLE
CALM$CIRCLE TOKEN
Fixed supply. Honest distribution. No team unlocks.
ERC20 with 3% buy / 3% sell tax → ETH → treasury.
All protocol fees and CIRCLE taxes are converted to ETH and forwarded to the treasury multisig.
WHAT YOU GIVE UP
Honest about the trade. Here's the cost of removing liquidations.
NOT EXACTLY $1
P drifts a small amount per year. It tracks the dollar, but it's not a peg. Think of it as "close to" the dollar, not "exactly" the dollar.
YOU MIGHT REBALANCE
If ETH moves a lot, you may want to roll your position into a different P to keep your dollar exposure tight. Optional. You decide.
PAYOUT TAKES TIME
The final claim happens on a scheduled date, not instantly. You can always swap or combine back to ETH on the AMM before then.
READY? NOT YET
Mainnet deploy pending. Contracts compiled and tested.