Never show the whole vault.
An AMM that exposes a fraction of its inventory per block. Less lost to arbitrage, deeper prices for everyone else.
The first trade of every block is a robbery at yesterday's price.
It costs a constant-product pool σ²/8 of its value per unit time. Fees tax it. Batching delays it. Tide shows it less.
One block of Tide
Top of block
λ of the inventory becomes active. The rest is passive: still in the wallet, not quotable.
Same math, two venues: three SwapVM opcodes on 1inch Aqua and a Uniswap v4 hook, one shared library. One test, identical fills.
The knobs are ENS records. The guardrails are the owner's.
λ, N, δ and the fee are text records on an ENSv2 name, mirrored on-chain in TideParams. Anyone can read them; the venues trade on the mirror.
The manager has its own name and a resolver role for exactly three records. Inside the owner's on-chain guardrails it acts alone.
Inside the owner's guardrails the manager acts alone. Outside them nothing moves without a fresh World ID sign-in by the owner, then the owner's wallet.
The owner removes the manager's role per record and drops it on-chain. Inventory never moved.
On-chain, now
Shipped through the official Aqua registry, filled by a resolver, swapped through the v4 hook. Every record written and read on-chain.