Engraved for this edition — the door on School Street, 1920. Everyone in that line was paid, if at all, by the person behind them.
The whole thing, in three rules
How you are paid
20% of your buy is set aside
Spend 1 Ξ. 0.80 buys $LINE, 0.20 goes to the Vault and books your place — owed 0.32 Ξ.
The Vault pays the front of the line
When it can cover the person at the head, it pays them in full and strikes them off. Strict first in, first out. No queue-jumping, ever.
Then everybody moves up one
Sell whenever you like — it costs a 5% toll, which also goes to the Vault. The impatient pay the patient.
The catch, up front
The line owes 1.6× what it takes in
0.20 Ξ goes in. The claim written is 0.32 Ξ. Every ticket digs the hole 1.6× deeper than it fills it — so the line only moves while new money arrives.
That is not a flaw being worked on. It is the instrument, and it is the first line of the documentation rather than something you find out later.
One ETH, in full
| You spend | 1.0000 Ξ |
| → buys $LINE | 0.8000 Ξ |
| → into the Vault | 0.2000 Ξ |
| Your claim | 0.3200 Ξ |
| Paid when | the line reaches you |
| Paid if it never does | 0.0000 Ξ |
You leave holding tokens and a claim. The claim is an ERC-721 you can sell to somebody who wants your place.
At press time
The register
One bar per place · green paid · red being paid · grey waiting
Cover — every wei ever paid into the Vault against every wei the register has promised. Ceiling 1.00. Why it sits near 0.65.
Not deployed. Every figure above is a chain read, so they are zero because the queue is empty — nothing here is illustrative.
Notice to the holder — read this twice
This is a Ponzi. It is on the front page because it is the product.
You are paid with the money of the people who arrive after you. No revenue, no yield, no treasury. If buying stops, the line stops and your claim is never called.
Expect to lose everything you put in. Most claims in most queues are never called.
The door is on the left.
Everybody ever paid by this contract was paid by somebody standing behind them.