ETH / RENT · Uniswap v4 · not yet deployed
The most valuable number in a pool is its fee. This one is leased at auction.
Somebody always ends up controlling how a pool behaves — and in an ordinary pool that control is free. Here it is sold, block by block, to the highest bidder. What they pay is called rent, and the rent is paid to the people who put up the liquidity.
- The lot
- the pool's swap fee
- The sale
- continuous, open, per block
- The reserve
- outbid by 5 % to take it
- The proceeds
- liquidity · stakers · burn
- The auctioneer
- a contract, not a desk
Illustration of the mechanic — the board resolves into a leaseholder, the rent they pay each block, and the fee that rent buys them. The figures are examples, not readings: nothing is deployed and this page reads no chain.
Rent enters from the searcher's side and leaves on the liquidity side.
In plain terms
Every pool leaks. When the price moves somewhere else first, whoever reaches this pool fastest takes the difference. That value leaves the pool and never comes back to the people whose money was sitting in it.
The lever all of that runs through is the swap fee. In an ordinary pool the fee is a constant somebody chose once. Here it is a lease: one address at a time holds the right to set it, and they hold it only for as long as they keep paying rent for it — with anybody free to outbid them at any moment.
Bid for the board
Name the rent you will pay per block, in $RENT, and post a deposit that covers it. If the slot is vacant, any positive bid takes it. If somebody holds it, you must beat their rent by the outbid increment — 5 % at deployment.
Hold it, and set the fee
While you hold the slot you set the pool's swap fee anywhere inside a band the contract can never leave: 0.01 % to 3.00 %. Rent is charged out of your deposit for every block you held it. When the deposit can no longer cover another block, the slot goes vacant and the pool falls back to its default fee.
The rent goes home
Every unit of rent charged is split three ways and none of it is reserved for a team: donated into the pool for liquidity providers, paid to $RENT stakers, or burned. The proportions are shown below.
Where the rent lands
The LP share is not a transfer to an address. It is donated into the pool itself, where it accrues to in-range liquidity in exactly the way a swap fee does — so an LP collects it the same way they collect everything else, with no claim step and no new contract to trust.
The staker share is pushed to a single-asset vault: stake $RENT, earn $RENT, withdraw whenever you like. The burn share reduces supply and can never be reversed, because the token has no mint function after construction.
These three shares are movable by token vote inside limits fixed at deployment — the liquidity share can never be voted below 50 %, and the burn share can never be voted above 20 %. The full accounting is on The Rent →
- Fee band, hard limits
- 0.01 % – 3.00 %
- Fee when the slot is vacant
- 0.30 %
- Minimum outbid increment
- 5 %
- Rent split, LP / stakers / burn
- 70 / 25 / 5
- Total supply, fixed
- 1 000 000 000
- Pool
- ETH / RENT, v4 dynamic fee
What this does, and what it does not
This does not abolish arbitrage, and it does not promise to capture every last unit of value that a block builder can extract. It does something narrower and more defensible: it takes the one parameter that decides how much a pool gives away, refuses to let it be free, and routes the price of it to the liquidity.
A trader who wants the fee low can bid for it and drop it. A party who profits when flow is expensive can bid for it and raise it. Both of them pay, every block, for as long as they hold the board — and whichever of them values it more will be paying more.
For a liquidity provider
Swap fees as normal, plus 70 % of whatever the fee-setting right turns out to be worth, donated straight into the position.
For a bidder
A priced, contestable claim on the pool's fee — no allowlist, no application, no team in the middle. Post a higher rent and it is yours in the same transaction.
For a $RENT holder
Rent is denominated in $RENT, so holding the board means holding the token. Stakers take a quarter of the flow, and the vote over the three adjustable parameters is a token vote.
The board is dark.
Nothing here is deployed. There is no contract address, no pool, no sale, and no date. When there is one, it will appear on this page and in the contracts listed under Particulars — and until then, treat any address claiming to be $RENT as not ours.
The contracts are written and tested. They have not been reviewed by an outside auditor.