Skip to the three stations

NICT · last-look desk · illustrative

Window 00

NICT

Nictate

The protective blink for NICT/WETH: bond NICT, quote from V3 TWAP, and pay the pair when you fade.

A first-party LastLookDesk beside the canonical NICT/WETH Uniswap V3 pool. The desk freezes one two-sided quote, then a bonded underwriter may fade or anyone may confirm.

Slit lamp

Request, then the lids shut for one block

observe() live · slit open pool.observe TWAP ± immutable spread

Optical bench · not a live book

A request freezes the two-sided quote and opens a one-block last-look window.

Three stations through the slit

What the blink actually does

  1. 01

    The frozen quote

    A taker calls request. The desk reads pool.observe and locks one two-sided price: TWAP plus or minus an immutable spread. That quote does not wander while the next block is open. One live request per taker.

    observe locked · one block window
    Station 01 · freeze plane

  2. 03

    The inventory ledger

    If no fade, anyone may confirm. Inventory fills at the frozen quote. Buy-side spread is routed through ForfeitRouter as ETH reward to remaining bonders. Residual inventory plus that spread accrues pro rata to remaining lockers. Timeout refunds the taker and still charges the forfeit.

    NICT WETH reward vault fill · spread to remaining bonders
    Station 03 · escrow trays

Refraction card

What is fixed on this desk

Immutable fixed supply
Solmate-lean ERC20. Randomized fixed supply. Tiny ABI. One hundred percent minted to the launch wallet. No presale, vesting, or airdrop. Caps off.
NICT-only fade-bond
FadeBondBook locks NICT and haircuts fading claims. No other asset is accepted as the fade-bond.
Fixed spread and forfeit
The desk quotes TWAP ± an immutable spread. Fade pays an immutable NICT forfeit. Both quantities are set, not tuned per trade.
Escrow-bounded settlement
InventoryVault holds maker NICT and/or WETH only. ForfeitRouter pays the taker and accretes residual inventory plus spread to remaining bonders. Fills never leave that escrow. Buy-side spread does not remain in the Uniswap pool; it is routed as ETH reward to remaining lockers.
slot0 / observe only
Oracle-free beyond Uniswap V3 slot0/observe and escrow balances. One live request per taker. No transfer tax. The pool fee tier is untouched.
No token custody of LP
The token never stores the launch LP NFT. Fills never touch that NFT. Nictate neither stores nor recovers the tokenId.
Protection operator
A separate immutable protection operator can block transfers and sells for arbitrary non-launch addresses, individually or in bulk. It is a deploy-only wallet, never imported into the token or desk modules. A later 2-of-3 Safe may approve a spend policy on InventoryVault; that policy can bound large sell-side desk fills and does not control the token, the launch LP, or canonical AMM trading.

Opening liquidity

A shallow one-sided concentrated range

Genesis liquidity is token-only. The NICT/WETH pair names the market; the opening deposit carries exactly zero paired quote asset. The position is a shallow one-sided concentrated Uniswap V3 range — never full-range.

price NICT token-only WETH side empty paired quote = 0
External LaunchOps uses NFPM through the launch wallet to mint the LP NFT/tokenId directly to that wallet and exclusively manages decreaseLiquidity, collect, and burn.

Specimen card

Nictate

Nictate takes its name from the protective blink before impact. It is an immutable fixed-supply ERC20 conceived for a canonical NICT/WETH Uniswap V3 market and its first-party LastLookDesk. Underwriters may acquire and escrow NICT as the sole fade-bond, alongside NICT and/or WETH inventory. The desk freezes one two-sided quote from pool.observe TWAP plus or minus an immutable spread. During the following block, a bonded underwriter can fade only by paying a fixed NICT forfeit to the taker and accepting a haircut; otherwise anyone can confirm the inventory fill. Timeouts refund the taker while still charging the forfeit. Spread and residual inventory accrue pro rata to remaining bonders. This may give market makers a bounded defense against LVR when a shallow launch market is noisy, while giving passive lockers possible participation in desk economics. Demand is not assumed: the proposition is simply that an underwriter who values last-look for this pair must hold and lock NICT. The design is oracle-free beyond V3 slot0/observe and escrow balances, has one live request per taker, leaves the pool fee unchanged, imposes no transfer tax, and never touches the launch LP NFT. Its rich implementation is purposefully modular, bounded, non-extractive, compatible with protected separate-wallet operations, and designed to be plausibly fork-provable by the launch gate.

Underwriters may find the desk useful. Adoption and returns are not assumed.