This page defines every term used by Danake and answers the common questions.
Glossary#
| Term | Definition |
|---|---|
| Roll | The loss ledger of one dead token at one snapshot: for each wallet, what it paid in HYPE for the tokens it still holds, minus what they are worth. Committed to a Fare as a Merkle root. |
| Fare | An offer by a payer on a dead token: a budget, a Roll root and rules. |
| Crossing | A holder burning all or part of a dead bag into an Open Fare. |
| Stay | Optional clause: a stream continues only while the wallet holds at least what it has already claimed. |
| Ferry | Planned: one free crossing per week, funded by protocol fees, to a dead token chosen by $DANAKE stakers. |
| Payer | The wallet that opens a Fare and deposits its budget. |
| Holder | A wallet that holds a bag of a dead token. |
| Bag | The amount of the dead token a wallet holds. In a Roll, the balance at the snapshot. |
| Proven loss | cost − value for a wallet in the Roll, when positive. |
| Cost basis | HYPE paid for the tokens a wallet still holds, under the average-cost method. Received tokens cost zero. |
| Value | What the curve would pay for the wallet's whole bag at the snapshot reserves, capped by the real HYPE reserve. |
| Snapshot | The block at which a Roll is taken. It must be in the past when the Fare opens. |
| Counted loss | The proven loss times the share of the bag burned, capped by the Fare's cap per wallet. |
| Rate | Payout units per HYPE of counted loss. Fixed at settlement: min(maxRate, netBudget / totalCountedLoss). |
| Max rate | The highest rate a payer accepts to pay. |
| Net budget | The budget minus the 3% fee. |
| Surplus | The part of the net budget not allocated at settlement. Returns to the payer. |
| Vesting | The period over which each payout is streamed linearly from settlement. |
| Dispute period | The Pending phase after opening, when the Roll can be checked and the payer can cancel. |
| Window | The Open phase, when holders can cross. |
| Dead token | A token with no trade for DEAD_AFTER, or at or below 5% of its all-time high for DEAD_AFTER. |
| rollURI | The string stored in a Fare that says how to rebuild its Roll, for example danake:roll:v1:minAge=0. |
| Roll verified | The recomputed root matches the Fare's root, and its snapshot time matches the snapshot block. |
| Demo | Label on every testnet token created by the demo launchpad, and on $LIVE. They have no value. |
$LIVE | Demo Live Token, a testnet faucet token used as a payer budget. |
| WHYPE | Wrapped HYPE, an ERC-20 version of the native gas token. |
FAQ#
Is this a way to get paid for what I lost?#
Only if a payer makes an offer. A Fare is a voluntary offer from a third party that wants holders like you. Danake makes the offer precise and checkable. Nobody owes holders anything, and many dead tokens will never get a Fare.
How is my loss computed?#
From public logs only: what your wallet paid on the curve for the tokens it still holds, minus what those tokens would sell for at the snapshot. Tokens you received by transfer cost zero. See The Roll.
I bought, then sold half. What counts?#
Selling reduces your cost basis in proportion. If you paid 2 HYPE for 1,000 tokens and sold 500, your remaining cost is 1 HYPE for 500 tokens. The HYPE you got back from the sale is not part of the loss.
Do I have to burn everything?#
No. You can burn part of the bag recorded for you, and the counted loss is proportional. You can cross each Fare only once, though.
When do I know how much I will receive?#
At settlement. Before that the app shows an estimate, which can go down as more holders cross, and the max rate, which is the ceiling.
Can I use the same loss in two Fares?#
Not if both Fares were snapshotted before your crossing. A later Fare can only count the loss that remains after your burn, because its Roll is taken after it.
What if the Roll is wrong?#
The Fare page shows Roll mismatch. Do not cross it. The Fare is Pending for a dispute period before anyone can burn, and you can rebuild the Roll yourself with the CLI.
Why does my wallet not appear in the Roll?#
Either you bought after the snapshot, you received the tokens by transfer, the bag is worth at least what you paid, or the Fare uses a minimum purchase age and your buys were too recent.
Can a Fare target a token that is still trading?#
No. v1 only accepts Fares on dead tokens. See Dead-token rules.
Who pays the fee?#
The payer. 3% of the budget goes to the fee vault at opening. If the payer cancels during the dispute period, the fee returns to them.
Is there a token?#
$DANAKE is not launched. No CA.
Any token using the name today is not ours. Follow @danakefun for announcements.
Is it audited?#
No, not yet. It runs on testnet, with tokens that have no value.