Tick

$TICKRobinhood Chain (4663) · Uniswap v4

Tick. Nobody is first.

One price per tick. The burn never stops.

Time on this market runs in ticks of a few blocks. Orders wait for the tick, then every one of them clears at the same price, buys against sells, and only what is left over goes through the pool. The toll buys and burns a little $TICK at every tick, never in a lump.

Read the law How it works

A metronome beats once per tick. At every beat the book of orders settles at one price, the tape prints that price, and the reserve buys and burns its share.

Orders wait for the tick. Leave one, or watch the bots: every order in the book clears at the same price.

TICK 0001 · OPEN
Orders in this tick
tape · one line per tick, one price per line
metronomesettle in 4 blocks
size

This runs the rule on its own numbers; the real ones are set at deploy.

tick in4blocks
orders0in this tick
tick price1.0000last settle
burned this tick0.00$TICK
burned0.00$TICK, total
How it works

Four rules, one clock.

A tick is a few blocks long. Everything that happens on this market happens once per tick, in the same order, for everyone.

01

The tick

Time here runs in ticks of a few blocks, numbered from the day of deployment. The tick you are in is a function of the block number, and no call in the contracts can move it.

02

The book

During a tick, anyone leaves an order: a buy in the quote asset, or a sell in $TICK. There is no limit price to set, because the tick price is the price. An order can be taken back until the tick closes.

03

One price

At the first block of the next tick, anyone calls settle. Buys are netted against sells, only the imbalance goes through the pool in a single swap, and the price that comes out is the tick price. Every order of the tick settles at it.

04

The burn

A fixed toll on every settled order goes to a reserve. At every settle, the reserve spends a fixed share of itself buying $TICK on that same swap, at that same price, and sends what it bought to the dead address.

The law

What the contracts hold to.

Six things that stay true whatever the market does. The law page has the rest.

I1

Every order of a tick is executed at the same price.

I2

The pool executes one swap per tick, the one that settle sends it.

I3

The toll leaves the system as burned $TICK, and in no other form.

I4

The buyback of a tick is exactly the published share of the reserve, no more and no less.

I5

The current tick is a function of the block number. No function moves it.

I6

An order that was not executed is refundable in full.

Every number is fixed at deployment and published on the law page. The team keeps nothing.