How it works
The whole system in six steps, then the details underneath. If something here disagrees with the contracts, the contracts are right.
Buy BARREL
Trade ETH for BARREL on the ETH/BARREL pool. That is the whole entry. There is no sign-up, no allowlist, and no minimum.
Hold it, and OIL starts arriving
Holding is the mechanism. OIL accrues to your address around the clock, in proportion to the BARREL you hold. Nothing is staked, nothing is locked, and you keep full custody the entire time.
Claim your OIL
Your accrued OIL waits until you collect it. One click on the holder dashboard moves it into your wallet as a normal ERC20 balance.
Optional: put barrels to work in the farm
Spend BARREL on an Oil Miner and it produces a second, larger stream, paid in OIL and BARREL together. Bigger miners carry more weight and a bigger fuel tank.
Keep miners fuelled
A miner burns power while it runs and stops the instant it hits zero. Top it back up with BARREL from the farm screen. The live power bar shows exactly how long each one has left.
Cash a barrel in whenever you want
Every unit of OIL is a pro-rata claim on a pot of real ETH. Cashing in burns your OIL and pays your share of that pot, at the rate showing at that moment.
The two ways to earn
Your share of this stream is your share of all BARREL that is eligible to earn. Infrastructure addresses, such as the pool and the contracts themselves, are excluded and never take a cut.
This stream arrives in lumps as trades flow through, not steadily by the second. A pending balance that sits still for a while is normal, not a fault.
Your share of this stream is your hashpower over all hashpower currently running on the farm. It pays in OIL and BARREL together.
Power drains in proportion to a miner's own hashpower, so reward earned per BARREL of fuel is the same at every tier. A bigger tier buys a bigger tank and less upkeep, not a better rate.
Trading fee
Every buy and sell pays its fee in ETH, never in BARREL. That ETH is what funds both reward streams.
Current schedule
The fee schedule starts counting from the pool's own initialization timestamp, written exactly once by the PoolManager.
How it is split
For a short window right after the pool opens, the fee runs higher and all of it goes to the marketing wallet. After that window closes it drops permanently to a lower, fixed rate, split between the two reward streams: one third to holders, two thirds to the farm.
The switch is timed purely by seconds elapsed since the pool opened. There is no setter for it. Nobody, including the team, can extend the window, shorten it, change either rate, or redirect where the money goes.
Contracts
Six contracts, each with one job. Addresses appear here once they are live.
BarrelToken
at launchBARREL itself. Fixed supply, minted once at launch, no mint function afterwards, no blacklist, no pause.
OilToken
at launchOIL, the reward token. Minted and burned only by the pot, never by a person.
OilPot
at launchHolds the ETH that backs OIL. No owner, no withdraw, no pause, no upgrade path. Cashing in is the only way ETH leaves.
OilRewards
at launchWorks out what each holder is owed and pays it on claim. Never loops over holders, so claiming stays cheap at any scale.
OilFarm
at launchThe Oil Miner game. Tiers, power, both reward streams, and the permissionless cleanup call.
BarrelHook
at launchSits on the pool and routes the trading fee, in ETH, to the two reward streams.
Network
What can never change
- The supply. Minted once at launch. No mint function exists afterwards.
- The fee schedule. Both rates and the window length are fixed in the code with no setter.
- The backing. The pot holding the ETH has no owner, no withdraw, no pause, and no upgrade path.
- The drain rate. How fast miners burn power is fixed and cannot be adjusted by anyone.
- The wiring. Each contract address is set once at launch and can never be repointed.