PERMANENT COLLECTIONProtocol Reference
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The $111 token

0x61C9d89fe1212F6b55fF888816A151463287B8ae · view on evm.now

The protocol's ERC20. Name permanent collection, symbol 111, total supply 1,110,000,000 (fixed at deploy; burns only reduce it). Deployed through the artcoins factory as an ArtCoinsToken instance, paired with native ETH in a Uniswap V4 pool (the official pool), with 100% of supply placed as locked liquidity across 14 tick ranges at launch.

The token has no governance. Holding it grants no control over any protocol contract.

The official pool

The canonical V4 pool is native-ETH-paired and carries the skim hook. Its pool id is listed on Addresses. Swaps in this pool are what fund the protocol: the hook skims 6% of volume per swap and routes it to the live bid, the protocol leg, and referral attribution in the same transaction.

The LP fee is 0.5%, separate from the skim, and accrues to in-range liquidity per standard V4 mechanics. The launch liquidity is held by a locker whose fee recipient is permanently set to LiveBidAdapter, so LP fees from the locked positions also fund the live bid. Anyone may mint additional LP positions and earns the LP fee pro-rata.

Where burns come from

$111 is burned (sent to 0xdead or destroyed via burn, reducing totalSupply) on three paths:

  • BuybackBurner swaps accumulated ETH for $111 in the official pool and burns it, in permissionless paced steps
  • VaultBurnPool burns the transfer-tax proceeds it accrues (see below) every time a return auction settles by vaulting
  • Cleared return auctions route 25% of the protocol's cost basis to BuybackBurner for the same buy-and-burn path

Venue-scoped transfer tax

The token carries a buy-side transfer tax that exists to keep trading concentrated in the official pool, whose skim funds the protocol. Current rate: 15% (taxBps = 1500), bounded by a structural 20% maximum (TAX_BPS_ABSOLUTE_MAX = 2000) that no role can exceed.

When it fires:

  • Only on $111 leaving a known venue (the V4 PoolManager or one of 44 precomputed V2/V3 pool addresses for WETH/USDC/USDT/DAI pairs) to a non-exempt recipient. In practice: buys in unofficial pools
  • Never on transfers into a venue (sells and LP adds), never on wallet-to-wallet transfers, never on lending/bridge/CEX flows

Buys in the official pool are exempt through a hook-attested budget: the skim hook attests the exact $111 amount leaving the canonical pool each swap, and the token waives the tax against that budget. The budget lives in transient storage and clears at the end of each transaction.

Tax proceeds accrue as $111 in VaultBurnPool and are burned there. They're never sold and never fund the bid; the bid is fed by the routing shift toward the official pool, not by the tax itself.

The rate is tunable within [0, 2000] bps via TokenAdminPoker.setTokenTaxBps, a two-key carve-out that survives the admin lock until both roles are burned.

Token admin

The ERC20's tokenAdmin role is held by TokenAdminPoker, a protocol contract whose owner-gated surface is limited to: binding (and permanently locking) a future pool extension, tuning the referral cap on the hook, and tuning the transfer-tax rate within its bounds. There is no mint function, no pause, no blacklist, and no upgrade path anywhere in the token.

Reading token state

bash
cast call 0x61C9d89fe1212F6b55fF888816A151463287B8ae "totalSupply()(uint256)" --rpc-url https://ethereum-rpc.publicnode.com
cast call 0x61C9d89fe1212F6b55fF888816A151463287B8ae "taxBps()(uint16)" --rpc-url https://ethereum-rpc.publicnode.com
cast call 0x61C9d89fe1212F6b55fF888816A151463287B8ae "balanceOf(address)(uint256)" 0x000000000000000000000000000000000000dEaD --rpc-url https://ethereum-rpc.publicnode.com

The dead-address balance plus the supply delta from burn calls gives the total burned to date; the indexer tracks burn steps and tax burns as first-class tables.

The $111 token · Permanent Collection