Docs

Put LANT into the Hearth and you receive xLANT. That is the entire interaction. There is no claim button, no harvest, no reward token to sell and no compounding to remember, because yield does not arrive as a separate stream. It arrives as more LANT behind the same share.

A share is worth totalAssets / totalSupply, and nothing in the contract can move LANT out except a depositor withdrawing their own. So the number can go up and cannot go down.

No lock, no cooldown, no exit fee. The drip below already does the job those are usually there to do.

Nothing in this protocol mints. Every LANT ever paid out was bought on the open market with WETH the protocol earned:

• A sell pays 1% of its WETH into the OilReserve. Buys are never levied, because charging people to arrive is the wrong shape, and it is why the hook needs only two permissions instead of four.
• Anyone can light it. The reserve spends a bounded slice of its WETH on LANT and hands the LANT to the farm, in one transaction.
• The farm only pays what arrived. There is no promised rate anywhere in the system. If nobody sells, nothing is earned, and the site will say so.

An optimizer that depends on a keeper stops the day the keeper’s server does. So there is no keeper here and no operator role to lose. The problem that creates is the usual one: a fixed reward is either too small to attract anyone when gas is expensive, or a permanent overpayment when it is cheap.

So the reward is an auction. It starts at 0.1% of the WETH spent the instant after a lighting and rises in a straight line to 2% over 6 hours. Whoever is willing to work cheapest calls first, and by calling ends the auction at their own price.

If a purchase hit the share price in the block it happened, the correct play would be to deposit one block before it and withdraw one block after, capturing a day of everyone else’s yield for one block of risk.

So a fuel drop does not land, it vests. It is added to a locked balance that decays linearly to zero over 24 hours, and only the decayed part counts as assets.

The honest cost of that defence, since it is a cost and not only a feature: a depositor does not begin earning a drop that is already in flight. They earn the remainder of it, in proportion to how long they stay.

A lighting may take any path from WETH to LANT, up to 3 hops through pools this protocol has never heard of. That is what lets a better route be used the day one exists without redeploying anything.

What the caller cannot choose is the price. Every fill is measured against the canonical pool’s own spot price, read out of the PoolManager in the same transaction, and refused if it comes back more than the slippage bound below it.

That check is the whole reason open routing is safe. Without it, a route through a pool the caller made themselves with minOut = 0 would be a drain. With it, a bad route reverts and a good one is indistinguishable from one we picked.

There is exactly one governance key. It can change the sell levy within its cap and the reserve’s spend and slippage limits within theirs. It cannot touch the Hearth, move anyone’s LANT, change the bounty curve, or point the levy at a different pool, because setCanonicalPool is once-only.

• There is no APY. The honest figure is what has actually been bought and paid in, and it is allowed to fall to zero if nobody sells.
• The levy is not universal. It applies where the hook applies. A second pool can be opened by anyone and would pay nothing.
• A lighting is a market buy. It is bounded per call, floored against spot, and the caller sets their own minimum on top. Those bound the damage a bad moment can do; they do not remove it.
• Dust cannot be lit. A lighting needs at least 0.005 WETH in the reserve, so a quiet market means a still lantern.

The canonical pool is WETH/LANT on Uniswap v4, opened single-side at a 4.88 ETH valuation: the whole launch float placed in one range entirely below the opening tick, so the position started as 100% LANT and engaged no WETH. Every ETH in the pool arrived from a buyer.