Binding Note
Abstract
Handfast is a windowed binding market. It issues 6,000,000 HAND, all of it in the Pair Book at launch. Each trade leaves a Window Share of two percent. That share enters a Timed Hold rather than a balance. A Timed Hold Unbinds into Closed HAND only when the Gate Rule is met and a Counter Fill has occurred in the same Live Window. Otherwise the Hold Rolls, never cancelled and never clawed back. Closed HAND leaves issue and is never issued a second time. Window Share, the Gate Rule, and the issue sit sealed at construction.
The problem, stated once
A take that credits a wallet can be spent, redirected, or emptied by whoever holds the key. A finish that needs only one side of a trade lets the last mover choose the outcome.
Handfast answers both. The Window Share is bound at the trade. Unbind needs the window and the other side. If they do not agree, the Hold continues.
Design
The token contract holds the issue. The Pair Book is the only market: Uniswap v4, Ethereum, ETH as quote. The live path advances the Live Window on every transfer. Timed Holds are not a spendable balance. Unbind writes Closed HAND. The Roll writes the same Hold forward.
The token contract cannot shift a Partner's HAND. It cannot halt the Pair Book. It cannot mint Closed HAND back into issue. The Pair Book cannot rewrite the Window Share. The live path cannot skip a window for one Partner.
Parameters
| Name | Value | Unit | Where it lives | Setter |
|---|---|---|---|---|
| Issue | 6,000,000 | HAND | token contract | none |
| Window Share | 2 | % | Pair Book fee path | none |
| Gate Rule | fixed | cadence | live path | none |
| Quote | ETH | asset | Pair Book | none |
| Venue | Uniswap v4 | venue | Pair Book | none |
| Chain | Ethereum | chain | Pair Book | none |
Mechanism
A trade on the Pair Book leaves a Window Share of two percent. That share is written into a Timed Hold for the current Live Window. Each transfer steps the Live Window forward. Unbind reads two facts: whether the Gate Rule's block deadline has passed, and whether a Counter Fill occurred in that same Live Window. If both are true, Unbind retires the Hold as Closed HAND. If not, the Roll copies the Hold into the next Live Window. No other path settles a Hold.
Worked examples
Busy window. A 500 HAND sale leaves 10 HAND bound. A Counter Fill lands. The Gate passes. 10 HAND become Closed HAND. Proceeds are 490 HAND.
Quiet window. A 500 HAND sale leaves 10 HAND bound. No Counter Fill lands. The Gate passes. 10 HAND Roll. Proceeds are still 490 HAND. The next window inherits the Hold.
| Path | Sale | Bound | Unit | End |
|---|---|---|---|---|
| Busy | 500 | 10 | HAND | Closed HAND |
| Quiet | 500 | 10 | HAND | Roll |
When nothing happens
A Live Window with no trades writes no new Hold. Existing Holds still meet the Gate Rule: they Unbind if a Counter Fill already landed, or they Roll if it did not.
If a call reverts, no Hold is written and the Live Window does not take a false step from that call. Nothing happens.
An empty HAND balance cannot sell. No Window Share is taken from a zero sale.
What cannot change
Window Share has no setter because a movable take is a preference. The Gate Rule has no setter because an aimed window is a privilege. The issue has no setter because a second mint is a different product. No deployer key has a path to shift balances, halt the Pair Book, or mint Closed HAND.
Verification
On the explorer, read total supply for the issue. Read the Pair Book fee path for two percent. Read the cadence counter for the Live Window. Read issue remaining for Closed HAND. Timed Holds do not sit in a deployer wallet. The address appears as a control on this property at go-live.
Notation
- Handfast — the protocol and the name.
- HAND — the token symbol.
- Window Share — two percent of each trade.
- Timed Hold — the bound share.
- Live Window — the current block window.
- Gate Rule — the deadline that must pass before Unbind.
- Counter Fill — a trade the other way in that window.
- Unbind — discharge that retires as Closed HAND.
- the Roll — the Hold moving forward untouched.
- Closed HAND — units that left issue.
- Pair Book — Uniswap v4, Ethereum, ETH as quote.
- Partner — a wallet that holds HAND.
- Binding Note — this document.
- Window Desk — the app surface.
