The stairs on Orca
Orca Whirlpools, devnetThe zero-cash ladder rebuilt on a second venue, $27.17 to $35.10.
Pool price now
Below $27.17 this pool holds nothing to trade against, so a sell that tries to push under it is refused by the chain. The trade log shows the test.
Buyer money in the pool
We seeded none of it. It walked in through buys and walks out when people sell.
SHASH in the pool
Started at 4,602. Buys take tokens out, sells put them back.
Toll the token kept
Every SHASH transfer pays a 2.5% toll to the token itself (zero dollars seeded, 4,720 SHASH placed as 8 rungs). It sits on the pool account, outside the market, until the weekly sweep collects it.
Where the liquidity sits
zero dollars seeded, 4,720 SHASH placed as 8 rungsGold is tokens for sale, green is standing buy money. Faded means the side has been traded through.
Bars are computed from the recorded size of each position plus the live pool price, the same math the chain uses.
How this shape works
The exact launch structure, rebuilt on Orca's Whirlpools program: eight single-sided rungs holding 4,720 SHASH from $27.17 up to $35.10, zero dollars seeded. Orca's tick grid is spaced slightly differently (64 instead of 60), which is why the floor lands at $27.17 instead of $27.11.
Orca accepted our 2.5% transfer-fee token without complaint, and the toll arithmetic matched Raydium to the token: 590 gross per rung became 575.25 on the curve plus 14.75 withheld.
The price path tracked the Raydium stairs within about half a percent on every trade: the 2,000-token buy landed at $31.52 here against $31.64 there, and $86,174.23 of buyer money accumulated on the sold rungs.
Where it breaks
The floor test resolved the same way with a different refusal surface: on Raydium the chain reverts the transaction, on Orca the SDK's quote threw an error before a transaction was even constructed. Nothing reached the chain, nothing moved.
The honest limits are identical to the stairs: the floor is geometry, exit depth is whatever buyer money sits on the rungs, and a seller can only sell into that.
What it proves for SHASH
The launch design is venue-portable. Same zero cash, same gradual steps, same buyer-funded bid, same hard floor, on a second independent protocol. If Raydium ever became a bad home, the structure moves.
Every trade, signed
What the model quoted before sending versus what the chain actually delivered, for every trade of the series, including any the chain refused.
| Trade | Expected | Got | Price | Proof |
|---|---|---|---|---|
| Bought 100 Aug 11, 22:22 UTC | 100 SHASH for $2,800.52 | 100 SHASH | $27.00 → $27.33 | 465n…duLa |
| Bought 500 Aug 11, 22:22 UTC | 500 SHASH for $14,244.42 | 500 SHASH | $27.33 → $28.12 | 3FbZ…vmgx |
| Bought 2,000 Aug 11, 22:23 UTC | 2,000 SHASH for $61,220.53 | 2,000 SHASH | $28.12 → $31.52 | 2B98…Sqdq |
| Sold 300 Aug 11, 22:23 UTC | $9,125.87 for 300 SHASH | $9,125.87 | $31.52 → $31.01 | 5yQ1…XXEq |
| Tried to sell 3,000 Aug 11, 22:23 UTC | quote stopped at $0.00 | no transaction was ever built Orca's own quote threw before anything was signed: there is no route below the bottom rung | $31.01 → $31.01 | no transaction |
| Sold 500 Aug 11, 22:24 UTC | $14,884.50 for 500 SHASH | $14,884.50 | $31.01 → $30.18 | 5srG…sjpf |
| Bought 1,000 Aug 11, 22:24 UTC | 1,000 SHASH for $31,919.13 | 1,000 SHASH | $30.18 → $31.95 | 5XXz…cZ6p |
The other shapes
How this page measures: price and pool balances are read straight from the devnet pool accounts every ten seconds where the venue allows raw reads, band bars use the recorded positions plus the live price, and the table replays the signed trade log. Practice network, practice dollars: the mechanics are real, the money is not. Pool CvF1…T3s4 on Solana devnet, opened with zero dollars seeded and 4,602 SHASH placed.