SEXTANT

Questions

FAQ

What is a Vernier?

A plain ERC-20 claim on an Arc, ticker sx-<TICKER>. It is a claim on a fraction of the tokenised equity the Arc holds, and on nothing else. It transfers like any other token, with no hook and no whitelist.

Where does the price come from?

A Uniswap V3 pool on Robinhood Chain — there is no Chainlink here, so every price on this chain comes from a pool. That matters: a pool price is the marginal rate at this instant for a trade of zero size, and it is one transaction away from being something else. Which is why the Arc keeps it out of the part that matters.

So what is the share price?

Computed, not marked. The Arc tracks the equity it actually holds, and a Vernier is a claim on a fraction of it. previewFixInKind is a ratio of two integers — no pool, no oracle, no feed appears in that path at all. Property P9 moves the pool up, down and back and requires the payout to be identical to the wei.

Then why does the contract read the pool?

For one thing only: the convenience exit. fixToStable pays you in USDG, which means the Arc has to buy your equity from you, which means it needs a number. It uses the worse of its last two observations, so you pay the spread between them and the holders who stayed never do.

Is there a lockup?

No, and neither exit can be halted. Stow — the emergency stop — halts deposits, Sights, commitments and harvesting. It cannot halt either exit, and a sabotage that makes it halt one is caught by property P11.

Where does the yield come from?

A harvest is somebody putting assets in without taking shares out. Until accumulate runs they are untracked and move no price; accounting for them raises the share price, and the protocol's Dip is charged on that harvest, capped in code at 20%. Nothing in this repository generates yield on its own and no page says otherwise.

Is any of this deployed?

The contracts are real and the app deploys them from your own wallet. Whether an Arc exists on chain right now depends on whether anyone has deployed one — the app scans for them and says plainly when it finds none. There is no token. The state table says which part of the site is which.

What data does this site collect?

None. No analytics, no cookie, no server. The app talks directly from your browser to the public Robinhood Chain endpoint and stores nothing but a list of Arc addresses in your own browser.

Why "sextant"?

Because a sextant is honest about the difference between a reading and a position. It measures one angle, once, from a moving deck, and it comes with five named corrections, each with a sign and a table. Every front page in this category prints a number where a reading belongs.