Decentralized cloud infrastructure · indexed onchain

The cloud was centralized.
OPEN puts it back on the network.

Compute, storage and data networks are becoming measurable onchain. OPEN is the ticker that reads them as one instrument on Base, built to be benchmarked against $AAPL: the open stack against the closed one.

And the pool that quotes it is metered like the thing it indexes. Not a flat fee · capacity. An idle pool banks credit and quotes spot. Only the flow that overruns that credit is billed, at the on-demand rate.

Supply1,000,000,000 OPEN
Opening valuation4 ETH
Pool fee0.30%
On-demand ceiling3.00%
Liquiditysingle side · 0 ETH

02 · the mechanism

The pool is metered like capacity

Cloud is not sold by the transaction. It is sold by the resource: an instance that runs below its baseline banks credit, and only the work that overruns that credit is billed at the on-demand rate. The OPEN pool runs the same meter.

  1. Capacity is 10% of the ETH-equivalent depth standing at the current price, L / √P. That is the pool's own arithmetic, read live · a deeper book absorbs bigger bursts on its own, with no number for anyone to tune.
  2. Credit refills with time alone: an empty bucket is full again after an hour of quiet, and it never fills past capacity.
  3. Spot is anything that fits inside the standing credit. It pays the pool's 0.30% and nothing else · but it spends the credit it used.
  4. On demand is the part of a swap that runs past the credit. The rate on that overrun rises with how far past capacity it reaches, up to 3%, so there is no cliff at the edge of the bucket.

The bill is donated into the pool in the same transaction and the claim is burned. The hook holds no ETH, no tokens and no claim between transactions · there is no pot, no distributor, and nothing anyone can be locked out of.

live meter not open yet
credit standingspent
Capacity
·
Credit now
·
Utilization
·
Refill
full bucket / hour
Swaps at spot
·
Swaps billed
·
Billed to the LP
·
Held by the hook
0 · by construction

03 · the bill

What a swap costs, exactly

ETH
Covered at spot
·
Overrun, metered
·
Bill
·
Effective rate
·
Plus the pool's own fee
0.30%

Modelled on the launch book until the pool opens.

The same order is not the same trade. Into a quiet pool it is baseline · into a pool that has just been drained it is contention, and contention is what the meter charges for.

OrderBucketBill
0.05 ETHfullspot · 0

The meter cannot be washed into a discount. Its only state is a credit balance and every swap spends it: a wash trade burns the bucket it would want full, pays the pool fee and moves the price against itself on the way. The one thing it can do is drain the credit so the next trader is billed · and that bill is paid to the liquidity.

04 · the thesis

The open stack, read as one line

01

Compute

GPU and CPU networks that sell cycles instead of instances. Metered by the work they actually serve.

02

Storage

Capacity committed by operators who are paid to keep proving they still hold it.

03

Data

Bandwidth, indexing and delivery · the layer that turns the other two into a product.

the counter-asset

$AAPL

·

A benchmark is only useful if it is read against something. The closed stack is the something.

05 · onchain

Contracts

Token · OPENnot deployed yet
Meter hooknot deployed yet
LP managernot deployed yet
Pool id·
PoolManager · Uniswap v40x498581fF718922c3f8e6A244956aF099B2652b2b

Capacity 10% of depth · refill 3600s · on-demand ceiling 3% · pool fee 0.30% · tick spacing 60. Every one of those is a compile-time constant with no setter.