01Compute
GPU and CPU networks that sell cycles instead of instances. Metered by the work they actually serve.
Decentralized cloud infrastructure · indexed onchain
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.
02 · the mechanism
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.
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.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.
03 · the bill
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.
| Order | Bucket | Bill |
|---|---|---|
| 0.05 ETH | full | spot · 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
01GPU and CPU networks that sell cycles instead of instances. Metered by the work they actually serve.
02Capacity committed by operators who are paid to keep proving they still hold it.
03Bandwidth, indexing and delivery · the layer that turns the other two into a product.
·
A benchmark is only useful if it is read against something. The closed stack is the something.
05 · onchain
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.