Pair assets

What your coin can be priced in. This is the part that replaces a hardcoded list of twenty-four tickers with a measurement.

The published list

Thirty assets, in four buckets, offered by name in the interface:

The majors are Coinbase's wrapped tokens because that is what a major is on Base: there is no canonical bridged XRP, DOGE, ADA or LTC otherwise.

Anything else

You are not limited to the list. Paste any address and it goes through the same measurement — it just has to clear a higher bar, because nobody has looked at it.

Both numbers are depth in USD, and both are read live at the moment of the launch. Being on the list lowers the bar; it never removes it. A listed asset whose market dies stops being launchable on its own, without anyone intervening.

How depth is measured

Not by asking a price feed, and not by reading what a pool holds right now — a spot reading can be inflated inside a single transaction with a flash loan.

Instead the gates read the pool's own accumulators over a 30-minute window:

• tickCumulatives gives an arithmetic mean tick — a manipulation-resistant price
• secondsPerLiquidityCumulativeX128 gives the harmonic mean of in-range liquidity

and those two convert into the depth sitting on the anchor side of the pool. Faking it means actually holding the liquidity for the whole window.

That alone would still be gameable: a very tight range turns a few hundred dollars into an enormous liquidity figure, because it describes depth at the current price and says nothing about what the pool holds. So the reading is capped by the anchor tokens actually in the pool. Spot balance is inflatable with a flash loan; time-weighted liquidity is inflatable with a tight range — but not the same way. Passing requires beating both at once, which is indistinguishable from being a real market.

Depth is measured against three anchors: WETH, USDC and cbBTC.

Where it looks

Two venues, and the best answer wins — never the sum, because depth on two venues is not depth you can trade through at once.

• Uniswap V3, across every fee tier
• Aerodrome Slipstream, across every tick spacing, on both of Aerodrome's factories

That last detail matters more than it sounds. Base runs two Slipstream deployments under the same Aerodrome voter, and they hold different markets — the AERO and WETH majors on one, every tokenised stock on the other. A gate wired to only the first reports "no market" for assets with millions of dollars behind them.

Why an asset gets refused

Code 4 is fixable by anyone: primeObservations grows a pool's observation buffer permissionlessly, and the asset becomes measurable once the window has elapsed.

What cannot be measured

Some markets are real and simply unreadable. A Uniswap v4 pool keeps no oracle unless a hook adds one; Hydrex pools have no observe, no slot0 and no oracle at all. An asset whose only market is on one of those measures as approximately zero however deep it is.

There is one entry in the list like that: wtSPYM, the S&P 500 ETF, with $654,588 of liquidity and about half a million dollars of daily volume, of which the gates can read $887. It is listed through a separate, explicit override that skips measurement — and that override is a different file and a different mechanism from curation precisely so that the exception stays visible.

Three other ST0x assets were considered for that override and rejected: wtQQQM and wtSPCX trade $5 and $4 a day. The bar for bypassing measurement is a market that is real but unreadable, not one that is merely unreadable.