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How it works
An OHM-style reserve currency with three substitutions: equities for stablecoins, revenue for a fixed reward rate, and a session-aware fee for a static one.
What it is
$HUI is a reserve asset backed by tokenized US equities (TSLA, NVDA, AAPL) held in a treasury. $stHUI is $HUI staked: it grows each epoch, automatically, paid from protocol revenue. There are two tokens and one idea. The people who trade impatiently pay the people who hold patiently.
Closing Bell
The pool is a Uniswap v4 hook. Before every swap it reads the New York trading calendar and sets the fee for that exact moment; after every swap it takes the same fee for the treasury and hands it to stakers. The tiers, in basis points:
| Session | New York | Fee |
|---|---|---|
| Pre-market | 04:00–09:30 | 30 bps |
| Open | 09:30–16:00 | 5 bps |
| After hours | 16:00–20:00 | 30 bps |
| Closed | nights, weekends, holidays | 100 bps |
| Earnings | override, any session | 200 bps |
The same session logic runs in two places: a TypeScript state machine that drives this site, and a Solidity calendar that drives the hook. A differential test runs ten thousand random timestamps through both and fails if they ever disagree. If the site says five basis points, the chain charges five.
Bonding
Bring equity, receive $HUI below the market price, vested linearly over five days. The bond price is a function of outstanding debt but never falls below backing, so a bond never dilutes existing holders. Redeem what has vested at any time. Leave early and a fifth of the unvested remainder is forfeited to stakers: that penalty is revenue, and revenue is what the patient are paid.
Staking
Stake $HUI, receive $stHUI one for one. $stHUI rebases: the number in your wallet grows every epoch, in place, without a claim. Each epoch the Distributor takes the revenue collected (swap fees plus penalties) and folds it into the next rebase. Unstake back to $HUI at any time. Your balance grows each epoch. There is no lockup beyond an optional warmup.
Backing
The single most important line in the protocol sets the reward to the smaller of the revenue and the treasury’s excess reserves. Nothing is minted past its backing. Backing per $HUI is therefore non-decreasing across any sequence of protocol operations: bonds, swaps, rebases, exits. Only the equities themselves, priced by the market, can move it. An invariant test asserts exactly this, and fails if it ever stops being true.
The calendar
Daylight saving is handled by the zone, not by a fixed offset: every naive implementation of this is wrong twice a year. NYSE holidays and half-days are modelled, and the day after Thanksgiving and Christmas Eve close at 13:00. Weekends are one continuous closed span from Friday’s last bell to Monday’s first. On-chain, governance moves the UTC offset twice a year and keeps a holiday bitmap; the earnings flag is an override that forces 200 basis points regardless of session.