Rig Pools

Rig pools let holders who cannot fund a full tier collectively own one rig. Pools are first-party protocol contracts, permissionlessly creatable through RigPoolFactory, and audited as part of the rig stack.

The model

  • Fixed 100-lot ownership. Every pool divides its rig into exactly 100 lots of 1% each. Contributions, exits, and buy-ins all move whole lots, so no dust positions exist.
  • Everything at par, always. One pool share equals one BOTCOIN of rig principal, at deposit, at exit, and at buy-in. The rig's accumulated mass premium is never priced or oracle-fed; it is realized only when the whole rig sells at auction, and it pays everyone pro rata at that moment. Exiting early means receiving exactly your principal and leaving your slice of unrealized premium to those who remain. Because everyone exits at the same price regardless of order, there is no first-mover advantage and no bank-run dynamic.
  • One FIFO exit queue is the entire liquidity mechanism. An exit request is fillable at par by anyone from the moment it is posted: new entrants, the operator, or third parties. Queued exiters keep earning rewards until the moment they are bought out.

Lifecycle

  1. Funding. Contributors buy lots until the target (tier principal plus activation fee) is reached; the final contribution auto-launches the pool, which mints and activates the rig. Contributors can cancel freely while the raise is incomplete, and a raise that fails to launch refunds everyone permissionlessly.
  2. Active. The pool's operator mines with the rig and earns the fee percentage disclosed at pool creation. Rewards accrue to holders continuously and are claimable at any time, in every state, forever.
  3. Exit. A holder exits their whole position into the queue after their lockup. If the queue head sits unfilled past the pool's grace window, the pool becomes auction-triggerable by anyone. The countdown is also the cure window: filling the stale head cancels the escalation.
  4. Terminal auction. The whole rig, principal and mass intact, is auctioned for BOTCOIN. The reserve price is the dismantle-equivalent floor, so an auction outcome always weakly beats scrapping the rig. A 24-hour auction with anti-snipe extensions settles permissionlessly; proceeds pay every holder the identical per-share amount. If no bid clears reserve, the pool dismantles the rig and distributes principal instead.

Auctions also trigger if the operator posts a dissolution notice, or automatically if the rig repeatedly fails its qualification threshold (an operator liveness dead-man switch, evaluated on-chain).

The worst-case exit timeline with a one-week grace period is roughly two weeks of continuous par-fill liquidity followed by a one-day auction. The operator can never touch principal, the NFT, or the queue; the protocol administrator can tune future pool parameters within caps but cannot pause, drain, or alter a live pool.