Switchboard404

4,004 positions · HyperEVM

One token is
one position.
Patch to light it.

Hold a whole token and a dark switchboard appears in your wallet. Sell below a whole token and it dissolves back into the pool for somebody else to draw. Burn the token behind one and it lights forever, and starts billing its panel in HyperCore spot.

Dark trades · lit bills

Read the spec@switchboard404

4,004

positions, ever

10

panels, 400 boards each

3%

permanent fee, in the token

2%

of volume bills lit boards

Where every unit of volume goes

Billing for lit boards2% of volume
LP reinvest, locked0.6375%
Buy and burn0.2125%
Operator0.15%

A swap fee, not a transfer tax: wallet to wallet pays nothing. Each stream lands in a pot only its own destination can pull, and there is no sweep function anywhere.

The machines

T1Magneto Wall Set (1878)2,2001×
T2Cordless Desk Panel (1910)1,2001.5×
T3Multiple Position Board (1930)4802.5×
T4Crossbar Console (1938)1205×

Plus four relics with their own streams: The Operator's Chair, The Trunk Line, The Night Bell, The Master Jack.

The panels, chosen for depth

HYPE

the chain’s own asset

400 boards

QQQ

tokenized index, the deep one

400 boards

GLD

tokenized gold

400 boards

PURR

native

400 boards

WOW

native

400 boards

NEKO

native

400 boards

QUANT

native

400 boards

BUDDY

native

400 boards

USDT0

native

400 boards

STABLE

native

400 boards

The protocol this forks pays ten tokenized stocks. On HyperCore most of those books are empty — SPY trades about a thousand dollars a day, TSLA nothing at all — so a panel list of tickers would look right and pay badly. These are picked from a live depth scan, and the routes are sealed at deploy.

Dark

Trades with the token. Dissolves when your balance crosses down through a whole unit, newest first. Rerolls into a different machine when you buy back. Bills nothing.

Patched

The backing token is burned. The board can never dissolve, transfers as a plain NFT, and bills its panel from that block on. There is no function in any contract that un-patches a board.

The invariant

Liquid tokens plus patched boards always equal 4,004. Patching moves a unit out of the float that generates the fee and into the set that consumes it. That tension is the design.

What is true today

  • Nothing is deployed. This is a specification with a working front end. No token, no pool, no boards.
  • There is no Uniswap v4 on HyperEVM. The fee is enforced by the token against one registered v3 pool rather than by a hook — simpler, and weaker only against a novel AMM contract.
  • Billing needs an EVM twin. 168 of the 495 HyperCore spot assets have one; panels can only be chosen from those.
  • Patching is irreversible, and billing is a promotional reward for taking part, not a dividend.