# HALCYON

> A pool on Elysium (Kinetiq's chain over HyperEVM, chain 99901) that quotes HyperCore's own HYPE/USDC price. Nobody can sandwich it, the price is held while the trader signs, and depositors keep the spread. PERCH mode now (a keeper signs HyperCore's mid; contracts bound every price); DIVE mode when Elysium's HyperCore hooks ship (the pool reads HyperCore inside the EVM and hedges through ElysiumCoreWriter).

## Facts
- Pricing: HyperCore mid, shifted against inventory skew, widened by a half-spread = base + 1x one-second vol + size impact, bounded 0.5 to 100 bps.
- Fees: of each fill's spread the protocol keeps 20% for the house that runs HALCYON; depositors (or a desk's owner) keep the rest. No other fees. A $HALCY staker gets up to half of the 20% back inside their price.
- $HALCY: access and say only (deposit caps, first entry to new pools, spread rebate, desk licence burn, holder veto, seals). It never pays holders. It launches on Ascend; its trading fees go to its creator.
- Safety: signed prices bounded by age (about three seconds), jump (0.5% a packet) and drift (3% a minute); guardian can only fail closed; every change waits 72 hours in a timelock; stakers or depositors can each cancel a queued change; withdrawals are paid in kind.
- Status: the contracts are new and unaudited; caps are small.

## For agents
- MCP (Streamable HTTP, JSON): POST /api/mcp with tools halcyon_market, halcyon_quote, halcyon_pool, halcyon_ask. Read-only.
- Kawa (chat): POST /api/kawa {"text": "..."}; numbers come with stamps (source, block, time).
- Live book: GET /api/impression. Signed PERCH packet: GET /api/packet. App state: GET /api/state.

## Pages
- /trade: swap and calm orders (gasless conditional orders filled by any keeper for a tip of at most 0.3%).
- /pool: deposit HYPE or USDC; withdraw in kind.
- /desks: open your own pool with your own spread; optionally backable.
- /halcy: what the token does.
- /docs: how it works, contracts, risks, keeper guide.