Everything on this page is intention, not a promise. The rest of these docs describes
contracts that are deployed and verified. Nothing here is deployed, none of it is committed to in
code, and no dates are given. Judge the project on what is already on chain.
What exists today
Goat Street converts revenue into tokenized equities and credits them to holders by weight. That is the whole live product, and it is deliberately narrow: one conversion, one ledger, and whatever revenue has actually reached the pot. Two sources reach it today — marketplace royalty and half of every entry fee. Cashmere app revenue, and revenue from the products on this page, are intended to be routed into the same pot. The engine splits whatever arrives, so adding a source needs no contract change; what it needs is the team actually sending it. Half of the royalty, and half of every entry fee, goes to the treasury instead. Today that half is a balance. The rest of this page is what it is meant to become.Liquidity farming
The plan is to put the treasury half to work in the same markets the rewards are bought from, and to route what it earns back into the pot that pays holders. Three venues: Uniswap V3, Uniswap V4, and STORMM — the options engine behind Clutch Markets’ Leverage Machine, on the same chain.Concentrated liquidity farming
Narrow ranges around the current mark on the tokenized-equity pairs, rebalanced as it moves.
More fee income per unit of capital than a full-range position, in exchange for active
management.
Delta-neutral LP farming
Providing liquidity while hedging the price exposure that comes with it, so what is earned is
the fee and the premium rather than a bet on the stock.
Automated liquidity farming
Rebalancing, range moves and hedges run on rules published in advance, rather than by hand.
Options underwriting on STORMM
Selling volatility against tokenized stock inventory, collecting premiums rather than taking a
view on direction.
V3 and V4 are not the same job. Goat Street’s router buys through Uniswap V3 today, so
liquidity provided there deepens the pools a distribution actually fills against. V4 holds more of
the depth on this chain, but the engine cannot reach its singleton pool manager yet — teaching it
to is a separate step, and one the engine’s own settings allow without touching the registry, the
credit ledger or the frozen rarity table.
Access
The platform is intended to be open in two ways: Goat Street NFT holders get access as part of holding a goat. Everyone else can access it by paying a fee.Access is a product decision, not a security property. It says who may use an interface. It is
not a claim that any contract checks anything about you, and it does not make participation an
investment, a share of a business, or a claim on revenue. The Terms apply to
everything on this page.
What would come first
1
Analytics
Publish what the treasury holds and what it earns, before anything is automated. A strategy
nobody can audit is not ready to be automated.
2
One manual position
A single concentrated position in one pool the protocol already routes through. Small, visible,
reversible.
3
Hedging it
Delta-neutral only once the unhedged version has run long enough to know what it costs.
4
V4 routing, then STORMM
Reach V4’s depth from the engine, then underwrite options — volatility last, because being
wrong there is most expensive.
5
Automation, then access
Rules published and running for a while before anyone else’s capital is invited in.
The honest limit
Revenue funds rewards. The treasury half funds liquidity. That liquidity earns fees and premiums, and those returns are meant to flow back into the pot that buys rewards. Only one link in that loop is a contract. What reaches the pot reaching holders is mechanism — distributing and delivering are open to anyone and the ledger is per NFT. Which revenue is sent there in the first place is not: routing Cashmere app revenue, or anything else on this page, is a plan the team can execute well, badly, or not at all.Treasury income is not a second reward stream, and holders have no claim on it. Nothing in the
contracts routes trading fees, option premium or LP income to holders. What holders are owed is
whatever has actually reached the reward pot, split by weight. That is the whole of it — not what
the treasury earns, and not what this page intends to send.If the treasury stopped tomorrow, every guarantee in these documents would still hold, because
none of them depends on it.
STORMM and Leverage Machine are built and operated by Clutch Markets, not by us. Nothing here
is a statement on their behalf or a commitment they have made.