QUILL.FUN
QUILL.FUN
quill.fun is a launchpad where every token minted carries, as soon as it has enough liquidity, an UP / DOWN parimutuel market on its own price. One quote pair only: USDG.
Five steps, one flow: the launch feeds the spot market, the spot market feeds the options market. Scroll.
Anyone can deploy a token. Every token trades exclusively against USDG — no native pair, no ETH pair.
Price follows a deterministic curve up to the graduation threshold. Every trade pays a single spot fee.
At the threshold, the curve’s terminal reserves capitalize a constant-product AMM (v2-style). Same fee, same accumulator.
As soon as a token has enough liquidity, a binary market opens on it. Losers pay winners — the protocol is never the counterparty.
Multiple windows, desynchronized across tokens:
All collected fees (spot + options rake) are denominated in USDG and split by a fixed key.
Against pump.fun-style pads and their farm-and-dump cycle, every point below is a protocol invariant — not a parameter tuned after the fact.
Rewards score notional volume — wash trading is enough to farm.
The rebate score is indexed on fees actually paid. Washing costs the fee on every round trip.
The rake can flow back into the pool that generated it, making staking structurally +EV.
The rake never returns to the same pool. A contract invariant, not a setting.
The creator can bet on their own token from launch and exit first.
14-day ban on creator bets on their own token + on-chain vesting. No special mint rights.
The platform is often the implicit counterparty to positions, or holds a share of them.
The protocol takes no directional risk on options. Losers pay winners, never the protocol.
Depends on an external oracle (Chainlink, Pyth) or a CEX price, each with its own attack surface.
Settled on an internal TWAP (10–30 min). No Chainlink, Pyth or CEX oracle.
A betting pool can exceed the token’s real spot liquidity, making settlement manipulable.
U+D pool cap ≤ 20% of spot liquidity. Per-wallet cap: 15% of a pool.
Static spot fees: nothing deters price manipulation right before expiry.
Spot fee ramps up as expiry approaches — an anti “candle war” tax.
Identical windows across all markets concentrate manipulation on a single moment.
Windows are desynchronized across tokens — no shared settlement to target.
All protocol fees — spot and options rake — are collected in USDG and split by the same key, described in step 05.
USDG fees buy back and burn $QUILL. The burn is indexed on real fees, never on self-reported volume.
Protocol reserve in USDG for development and system resilience.
Redistributed to active participants, outside the U/D stake pools — no effect on the odds.
Binary markets on digital assets fall under strict regulatory frameworks — MiCA at the EU level, ESMA and AMF positions on binary options. Any production release requires prior legal review before deploying any contract or making it available to the public.