Core concepts
The Sarcophagus
The Sarcophagus: Deflationary Module
A 5% protocol share from fee-only or ungauged pools can flow into the Sarcophagus. Callers exchange an exact, owner-configured amount of RAM for selected accumulated fee tokens.
Fee accumulation creates a potential RAM-for-fees claim; it does not guarantee that a claim or burn will occur.
How It Works
| Step | Description |
|---|---|
| Fee Collection | The 5% protocol share from configured fee-only or ungauged pools flows to the Sarcophagus |
| Accumulation | Owner-allowlisted fee tokens accumulate until selected in a claim |
| Claim Mechanism | Any caller can transfer the exact exchangeAmountThreshold of RAM and claim selected allowlisted token balances |
| Chain Handling | Ethereum burns the received RAM; other chains send it to the configured dead address in the current implementation |
Calling the claim function is permissionless, but its threshold, token allowlist, maximum token count, and rescue function are owner-controlled.
Fee Distribution
| Pool State | Liquidity Providers | xRAM Voters | Protocol / Sarcophagus |
|---|---|---|---|
| Gauged | 0% | 100% | 0% |
| Fee-only / Ungauged | 95% | 0% | 5% |
Maker rebates are treasury-funded and additive, up to 1%. They are not deducted from the 95% LP / 5% protocol swap-fee split.
Claim Mechanics
Any address can call bury when the selected fee-token balances are worth exchanging for the configured RAM threshold. Searchers may monitor this opportunity, but execution and profitability are not guaranteed.
| Action | Result |
|---|---|
| Transfer exact RAM threshold | exchangeAmountThreshold is set by the owner and must be greater than zero |
| Select fee tokens | Claim the full Sarcophagus balance of each selected, owner-allowlisted token, subject to maxTokenClaim |
| Protect execution | Supply the current nonce and minimum amounts for the selected tokens |
Anyone can submit a valid claim. The owner can change the RAM threshold, maximum number of claimed assets, and token allowlist, and can rescue tokens from the contract.
Deflationary Impact
The Sarcophagus can remove RAM from circulation when fee balances make a claim economical:
- More trading volume = more fees
- More fees = larger Sarcophagus balance
- A larger balance may create more incentive to exchange the configured RAM threshold
- A completed Ethereum claim burns RAM; the current non-Ethereum path sends RAM to a dead address
Fee accrual alone does not burn RAM, and reduced supply does not guarantee an increase in token price.
Chain-Specific RAM Handling
Sarcophagus behavior depends on the chain where a contract is actually deployed:
| Chain | Effect |
|---|---|
| Ethereum | Calls the RAM token's burn function, reducing token total supply |
| Non-Ethereum Chains | Sends RAM to the 0x…dEaD address in the current implementation, reducing circulating supply but not ERC-20 totalSupply |
| Undeployed Chains | No effect until a Sarcophagus contract and fee route are deployed and published |
Any later canonical reconciliation or Ethereum burn is a separate process and should not be inferred from the non-Ethereum transfer alone.
Maker Rebate Program
Ramses may fund a Maker Rebate Program from treasury resources. This program is separate from the pool's swap-fee split:
| Feature | Details |
|---|---|
| Allocation | Up to 1%, funded by the treasury and additive to pool fees |
| Recipients | High-performing liquidity providers |
| Goal | Reward efficient market making |
Eligibility, measurement periods, and payment amounts depend on the published rebate program. A rebate is not guaranteed by the Sarcophagus contract.
Benefits for Market Makers
- Potential additional treasury-funded rebates
- No need to participate in governance
- Eligibility can be based on published performance criteria
- Compatible with automated strategies
Combined Fee Flows
The two default swap-fee states and the separate rebate program are:
| Mechanism | Flow |
|---|---|
| Fee-only / Ungauged | 95% to LPs and 5% to the protocol / Sarcophagus |
| Gauged | 100% to xRAM voters and 0% to LPs by default |
| Maker Rebates | Up to 1% treasury-funded and additive; not part of either swap-fee percentage |
These flows describe token routing. They do not guarantee returns or token-price appreciation.