[ 01 ]Both threads
A buy and a sell do the same thing.
The light thread
A buy passes the shuttle once and lays one row. Its thickness comes from the size of the trade through the same concave scale, capped at the same clamp. It pays the same toll into the same reserve, and if it fills the piece it cuts it, burning the whole reserve. The trade that does so pays the same toll as any other and receives nothing.
The dark thread
A sell passes the shuttle once and lays one row. Its thickness comes from the size of the trade through the same concave scale, capped at the same clamp. It pays the same toll into the same reserve, and if it fills the piece it cuts it, burning the whole reserve. The trade that does so pays the same toll as any other and receives nothing.
The two paragraphs above differ by one word. That is the whole argument: the colour of a row is a record, not a score, so nobody can be sold the idea that pushing the price one way is what the loom wants.
[ 02 ]The night bands
The cloth remembers the nights.
On Robinhood Chain the on-chain market never closes. The market underneath the Stock Tokens does, every night and every weekend. Look at the window behind the loom: when it goes dark, every row woven is laid in a deeper tone, so a piece that spans a week carries dark bands across it, the way a tree has rings, and a brass tick on the upright marks where each band begins.
The test is the block's own timestamp against a session table fixed at deployment. There is no oracle and no outside call. The table knows weekdays and hours and not the exchange calendar, so a market holiday weaves as an open day. That is cosmetic and it touches nothing: the tone changes no toll, no advance, no cut and no burn.
[ 03 ]The law
Seven things written at deployment.
No function changes any of them, for anyone. There is no owner, no admin, no upgrade path and no pause.
- The length woven is a pure function of the trades since the last cut, and of nothing else.
- The reserve leaves only as burned
$WELFY, and only at a cut. - A buy and a sell are identical in toll, in advance and in consequence; they differ only in the colour of the row.
- No address has any right over the reserve, the loom or the catalogue, and no address is paid for finishing a piece.
- The toll is the same for everyone at every moment and in both directions.
- A row, once woven, is never altered or removed. A piece, once cut, is never altered.
- The warp width, the length of a piece, the thickness scale, the clamp and the session table are fixed at deployment.
Every number is fixed at deployment and published in the law. The team keeps nothing.
[ 04 ]In plain words
What can go wrong, said here.
A frozen loom is the honest failure. In a dead market the piece sits half-woven and the reserve sits full in the pot, possibly for a long time. There is no decay, no timer and no lever in the contract to do anything about it. That is why this page shows the reserve and the distance to the cut, and not only the total already burned.
Somebody can fill a piece on purpose. They can, at the cost of the tolls and the price impact of a one-sided run, and the clamp means it takes at least fourteen trades however large they are. What they get for it is a burn that belongs to everybody and a cloth that shows exactly what they did.
Wash trading weaves. A buy and a sell of the same size lay two rows, advance the piece twice and pay the toll twice. It is not an attack, it is the mechanism working, and the cloth records precisely what it was.
Nothing is ever paid to anyone. Not to holders, not to the team, not to whoever finishes a piece. The only thing that leaves the pot is $WELFY on its way to the dead address.