FAQ

Did LEASE invent the auction-managed AMM?

No. It was designed by researchers from Columbia, Paradigm and Uniswap Labs: Austin Adams, Ciamac C. Moallemi, Sara Reynolds and Dan Robinson, arXiv 2403.03367. Bunni runs it on Ethereum. LEASE is the first on Solana.

Why would a bot pay rent instead of just trading?

The seat holder trades at zero fee and keeps every fee other traders pay. A bot that farms the pool anyway is better off holding the seat, and other bots bid against it. The rent they bid is paid to the LPs.

What if nobody bids?

Swaps pay a 1% fee and it all stays with the LPs, like a normal pool.

Can the seat holder charge 50%?

No. The program refuses any fee above 3%.

Can the seat holder take the LPs' money?

No. It never has a path to the reserves. It can only trade them through the same constant-product swap as anyone else.

How fast does a higher bid take over?

900 slots, about 3.3 minutes, if it beats the live rent by more than 10%. Otherwise it waits until the live seat's deposit runs dry, and never starts before those 900 slots.

What is the machine on the site?

The pool, drawn live. The left end is where swaps come in, and every strand is trade flow. Every strand passes through the gold collar in the middle, the manager seat. Gold sparks leave the collar for the right end, which is rent landing with the LPs. When the collar flashes, the seat has changed hands in the example.

Where is the token address?

LEASE the token does not exist yet, and no token address is published before launch. The program itself is live on Solana mainnet at B1RohVSotqVA1oibU8pYSv719VZDM83hpD51JYebNeSM.