Take the crown

The price of the crown

When someone is crowned, the price becomes the size of their winning buy. It then falls in a straight line to the floor over one hour, and stays at the floor for as long as the king reigns. The crown never expires on its own.

Example: A = 0.5 ETH, 30 minutes after the crowning: 0.01 + 0.49 × 30/60 = 0.255 ETH. To take the crown you must buy more than 0.255 ETH.

Beat it, don't match it

Your buy must be strictly bigger than the price. A buy exactly equal to the price does not count; one wei more does. When there is no king, any buy of at least 0.01 ETH takes the throne.

What counts as your buy

The amount compared to the price is the ETH that enters the $CTST market in your trade, fees excluded. It counts when:

• it is a buy of $CTST on Pons, on the bonding curve or, after graduation, on the Pons pool;
• it happens in one transaction, and you are the wallet that signs it;
• all the $CTST bought arrives in that same wallet;
• nothing leaves your wallet and nothing is sold in that transaction.

Routers and aggregators are fine as long as they buy through Pons and deliver the tokens to the wallet that signs. Several small buys are not added up: each transaction is judged alone.

When two pretenders buy at the same time

Trades are judged in the order the chain records them. If two buys land in the same block, the second must beat the price set by the first. Anyone can see your buy coming and try to outbid it first: the crown goes to whoever is recorded first with enough.

When a buy does not crown

• The tokens go to another wallet (a gift, or a contract that keeps them).
• The same transaction also sells, or sends $CTST out of your wallet.
• The buy happens on another market than Pons. It is not counted, and it pays nothing to the kings.
• You receive $CTST by transfer. Gifts never crown.
• You are already king. Buying more keeps you king but does not reset the price.