What is KALEIDO

KALEIDO is an ERC-404-inspired fungible token with a 5,000 maximum supply on Robinhood Chain. The whole-number part of each eligible holder balance—excluding the core reserve and pool—is mirrored by fee-accounting Shares, each with a unique on-chain Prisme identity. Harvested WETH-side fees are allocated in ETH and, at claim, can settle as ETH/WETH or route into a currently listed tokenized stock via Uniswap v4.

Three properties define the protocol:

• Non-upgradeable core. Accounting and payout code cannot be upgraded or paused. The remaining roles can only curate the stock picker and change the cosmetic metadata renderer.
• Direct stock routing. Successful claim swaps take stock output straight to your wallet. Unsolicited tokens can still be sent to any contract address; they are never credited into claims.
• Realized, not projected. Everything you earn comes from real swap fees that already happened. No emissions, no APY promises, no new deposits paying old ones.

One light in. The whole market out.

How the money flows

One pipeline, end to end:

1. Trades happen in the KALEIDO/WETH pool (Uniswap v3, 1% fee tier, full range). Depending on swap direction, trading accrues fees to the locked position in WETH and/or KALEIDO.
2. Anyone harvests. pokeFees() is public: it collects accrued fees from the pool position. The caller earns a small capped bounty, which incentivizes—but does not cryptographically guarantee—frequent harvesting.
3. The split is fixed forever: the caller first receives a capped bounty. Of the remaining harvested WETH-side value, 90% goes to active Shares (credited to the per-Share accumulator) and 10% funds development. Any harvested KALEIDO-side fees are 100% burned.
4. Your pending is credited at harvest. Each Share's claimable ETH is tracked by an accumulator (accEthPerShare): holder allocation ÷ active Shares. A newly activated Share cannot claim amounts already harvested, but it can share in fees that accrued before activation and had not yet been harvested.
5. You claim, you choose. claim() attempts native ETH and falls back to canonical WETH if the receiver rejects it; claimInto(stock, minOut) attempts a bounded swap into a listed stock with your wallet as recipient. Gas varies with chain conditions and the selected path.

The token and its Share layer

KALEIDO is one fungible asset with two synchronized expressions, inspired by the dual-representation idea pioneered by ERC-404: ERC-20 liquidity for trading, and an ERC-721 mirror for the identity and accounting of whole-token positions. The NFT is not a second asset or a separate collection.

• 1 whole KALEIDO held by an eligible address = 1 Share. The core reserve and pool are excluded. For a normal holder, 3.0 tokens = 3 Shares and 2.6 tokens = 2 Shares.
• Each Share receives an equal part of the holder fee allocation: 90% of post-bounty harvested WETH-side fees, divided by the active Share count at harvest.
• Fractions move through the ERC-20 interface, but only the whole-number eligible balance activates Shares.
• Wallet transfers are move-first. When the sender loses and the recipient gains a whole eligible unit, an existing Share moves with its tokenId, fee debt and pending allocation. Any unmatched recipient gain mints a fresh Share; only an unmatched sender loss burns one.
• Each Share snapshots feeDebt when minted, so it cannot claim value already credited to the accumulator. A new holder can still capture a pro-rata slice of an unharvested fee backlog; frequent keeper harvesting is the documented operational mitigation.
• A Share does not confer ownership of, or a redemption claim on, the locked LP principal. It is an accounting unit for the holder portion of harvested WETH-side fees.

The burn mechanisms

Two distinct burns work together. Understanding them is understanding KALEIDO. The shorthand: pool sales can burn Shares; harvested KALEIDO-side fees burn tokens. A sale never destroys or skims the transferred tokens themselves.

1 · The Share ratchet: sell into the pool below a whole-token boundary

The pool is excluded from Share accounting, so a sale that lowers your eligible whole-token count burns the unmatched Share. Example: you hold 3.0 tokens (3 Shares) and sell 0.4 into the pool. Your balance becomes 2.6; one Share burns and its unclaimed ETH is redistributed to the remaining Shares. Selling a whole 1.0 into the pool follows the same rule. Claim before selling. Rebuild a whole eligible balance later and a fresh Share mints: new snapshot, zero retroactive pending. The live count can move both ways and cannot exceed 5,000.

Two consequences follow, and they're both by design:

• Forfeiture. Whatever ETH that Share had accrued but not claimed is forfeited, and redistributed to all remaining Shares through the accumulator. Hence the one rule every holder must know: claim before you sell.
• Current denominator. The holder allocation divides by the number of active Shares at each harvest. A burn lowers that count and increases each remaining Share's portion while the lower count persists; newly activated Shares can increase it again.

On a direct wallet transfer, the hook first moves min(sender losses, recipient gains) existing Shares to the recipient, preserving their tokenIds and pending allocations. Only unmatched sender losses burn; unmatched recipient gains mint fresh Shares with no retroactive accrual. KaleidoMirror.transferFrom explicitly moves one KALEIDO and that same Share. The hook performs constant work per whole Share crossed, so a transfer moving k whole units is O(k); integrators should chunk transfers at no more than 500 whole KALEIDO per transaction.

2 · The fee burn: trading destroys KALEIDO

The pool can accrue fees in both currencies across swap directions. Whenever KALEIDO-side fees are collected at harvest, they are burned outright and total supply decreases by that amount. No emissions or mint function exist.

Claiming

• Pull-based, always. Nothing is pushed to your wallet automatically; you claim when you want. Pending never expires while your Share lives.
• Two paths: claim() pays pending ETH (or canonical WETH if a contract holder rejects native ETH). claimInto(stock, minOut) attempts a v4 swap with your wallet as recipient, then falls back to ETH/WETH if the swap path fails.
• You choose per claim. No preferred asset is stored by the contracts; the DApp asks each time.
• Slippage protection: the app computes a minimum output from the stock's Chainlink price feed. If the market moves beyond that bound, the stock leg fails rather than filling badly and the claim falls back to ETH/WETH.
• Paused-stock fallback: tokenized stocks are issued by Robinhood and can be paused by the issuer. If that happens to your pick, the stock leg falls back to ETH/WETH. That failed leg does not by itself strand the pending allocation; normal claim preconditions still apply.
• Cost: gas depends on chain conditions, number of Shares and whether the stock-swap path executes.
• Batching: multiple Shares claim together in one transaction, with an aggregated path for large holders.

Getting KALEIDO

The official market route is to buy the KALEIDO token on Uniswap, on Robinhood Chain; tokens can also be received by transfer. No presale, allowlist or public mint page exists. At launch, all supply except bounded seed-rounding dust is placed into permanently locked liquidity, with no team allocation.

1. Bridge ETH to Robinhood Chain (canonical bridge, LI.FI, Relay or Across).
2. Swap ETH → KALEIDO through Uniswap on Robinhood Chain. Verify the token address is 0xd738…8120 before signing.
3. Hold at least 1.0 whole token at an eligible address. The whole-number part of that balance is mirrored by active Shares. They receive no previously harvested accrual, but can share in fees that are still unharvested when they activate.

The stock registry

Claims can convert into assets on a curated registry with a hard cap of 12 listed tokens, plus ETH. The exact launch set is published only after each token/feed/pool key completes verification and the 48-hour proposal delay.

Illustrative candidates: SPY · AAPL · TSLA · NVDA · MSFT · META · GOOGL · AMZN · AMD · COIN · PLTR · NFLX. ETH remains available independently of the registry.

Listing criteria are mechanical and public: a live Chainlink price feed with an acceptable heartbeat, and enough on-chain liquidity that a standard-size claim fills within the oracle bound.

The guardian: narrow stock-picker authority

The published guardian address has exactly one job: protecting the registry. It is currently the launch operator EOA; migrating that operational key to a multisig would require a new immutable ClaimRouter and is not implied by the deployed code.

The guardian can protect, never steer: it cannot touch funds, cannot change the split, cannot pause claims, cannot upgrade anything. Those capabilities don't exist in the code.

Tokenomics & fees

The team is paid one way: the transparent 10% of real fee flow, aligned with volume, never with token dumps (there are no team tokens to dump).

Permissionless by design

Every maintenance function is public and bounty-paid. If every server we run disappears tonight, the protocol runs tomorrow:

Keeper bots exist purely for convenience. They hold zero authority and zero special access.

Security & trust

• Immutable contracts: no upgrade path, no pause switch, no owner functions over funds. What you verify at launch is what runs forever.
• Reviewed base and diff: the core began from Prism (MIT), then KALEIDO-specific accounting, v3 liquidity, claims and the audit-hardening diff were tested and reviewed. The final launch commit and bytecode must still be compared with the exact snapshots named in those reports.
• Measured-delta accounting: rewards are only credited from ETH the contract actually received. Donations, direct transfers, or manipulated state cannot inflate anyone's balance.
• Invariant-fuzzed: the master backing invariant (core ETH == holder-owed + devOwed + dust), share-count consistency and locked-liquidity properties are continuously tested. Whole-unit transfers are deliberately O(k), with a published chunk limit.
• Review scope matters: the public audit and differential hardening re-audit cover their stated snapshots, not an abstract future version. Later fixes—including the mirror exclusion guard—are visible in git and covered by regression/full-suite tests; review the final diff together with the accepted operational M-01 risk.
• Verify everything: deployed addresses and explorer source-verification status are linked below, and the source is open (MIT). Don't trust the copy; read the chain.

Risks: read this before holding

We'd rather you know exactly what you're buying:

• Earnings depend entirely on trading volume. No volume → no fees → no earnings. Comparable projects have seen fee revenue drop 80–90% from their peaks. Nothing here promises otherwise. That's the honest deal.
• The ratchet cuts both ways. A pool sale below a whole-token boundary burns one Share and forfeits its unclaimed allocation. Direct wallet transfers match and move Shares first; only unmatched sender losses burn. Understand the distinction before your first trade or transfer.
• Tokenized stocks carry issuer risk. Robinhood can pause its stock tokens; regulations around them can change. The stock leg falls back to ETH/WETH, but the available asset landscape is outside the protocol's control.
• Smart-contract risk. Immutable also means bugs can't be patched. Testing, fuzzing and external review reduce, never eliminate, this risk.
• Chain and sequencer risk. Robinhood Chain availability, ordering and censorship behavior are outside the protocol's control.
• Token price ≠ earnings. KALEIDO's market price floats freely and can go down regardless of fee flow.

No projected yield. No promised APY. Just the pool's real fees, whatever they turn out to be.

FAQ

Contracts & links

Trust no other address. Buy on Uniswap: Buy Now. Socials: X / @kaleido_finance · Telegram / @kaleido_finance.