How Ouro works.

$OURO is an ERC20 with a fixed supply of 1,000,000,000 and one trading pool: ETH/OURO on Uniswap v4 with an Ouro hook attached. Every swap pays a tax in ETH. The tax never reaches a person; it flows to the protocol treasury, which buys the strongest tokens on the chain, pairs them into liquidity the protocol owns, and recycles the fees that liquidity earns. While Ouro trades heavily the tax dominates; when trading quiets, the pools' fee income keeps buybacks, burns, and staking rewards running. That persistence is the entire point.

2.5%, charged in ETH, on every buy and every sell: exact in and exact out, all four shapes. The pool also charges a standard 1% LP fee, so a trade pays ~3.5% in total. Ouro's own buybacks are exempt: recycled buys don't pay a tax to themselves. The treasury splits incoming tax by policy:

The treasury advances in cycles. Each cycle collects the fees earned by every position (sold to ETH), deploys the accumulated tax 90 / 10, then recycles the fees earned this cycle 80 / 20:

Every cycle is a set of public onchain transactions; the Ledger reads each amount. Every swap is protected by a minimum output set for the trade.

A small set, target five, of liquid Robinhood Chain tokens, held as full range liquidity Ouro owns, not as loose tokens and never handed out. Selection favors mature, high turnover tokens with the deepest pool on the chain; each constituent is capped at 20–25% of the treasury. Constituents are LP'd where their real liquidity is: canonical Uniswap v3 for most names, v4 for others. LP'ing earns the trading fees that feed the Loop; the tradeoff is impermanent loss versus holding. Basket changes are governance actions with a public timelock delay.

Every liquidity position the tax buys is held by the protocol treasury as full range liquidity in the chain's strongest pools. The protocol keeps the principal and recycles only the fees it earns; it is built to accumulate, not to sell. Watch it the honest way: the treasury's onchain activity and the positions' liquidity over time.

Stake $OURO, receive $sOURO, an ERC4626 vault share. The buyback slice, 80% of every cycle's fees, buys $OURO and adds it to the vault as a reward that vests linearly over 72 hours, so value per share rises smoothly and there is no way to deposit right before a reward and withdraw right after to skim it. Your position is previewRedeem(your shares) in $OURO; unstake at any time. Rewards are a share of fees the treasury actually earned: no inflation, no emissions.

20% of every fee cycle buys $OURO on Ouro's own pool and calls burn(). The tokens are destroyed and total supply falls, permanently and visibly. Combined with the staker buybacks, 100% of all recycled fees become buy pressure on $OURO, funded by the treasury's yield, not by selling anything.

Tax index tokens leak: once a token has volume, anyone can open an untaxed pool elsewhere and traders route around the tax. Measured onchain 26–28 Aug 2026, the leaders captured only 6–36% of their own volume. Ouro pushes back with an address blocklist: parallel v2, v3 and other AMM pools are blocked as they appear. To keep the power off ordinary users, the blocklist can only ever target a contract, so a wallet or a CEX deposit address is never affected. It's a deterrent, not a wall: wrappers and parallel v4 pools can still leak, so trade on the official pool to be sure your trade funds the flywheel.

"Governed" means changeable only by the governance timelock, through its public onchain delay, and only within the hard bounds the contracts enforce.

Ownership of the token and hook sits with a TimelockController proposed by a multisig (Safe); every change queues onchain and executes only after the public delay. What the contracts enforce, whoever holds the keys: the supply is fixed with no mint, the tax can't exceed 3%, your wallet can never be blocked, and the staking stream can't be skimmed. Governance can tune the tax within its 3% cap and manage the blocklist; it cannot mint or change the fixed supply.

Plainly: returns depend on volume. Buybacks, burns, and rewards are funded by tax and fees, and low trading means low income. The basket is volatile crypto tokens, memecoins among them, that can fall sharply or to zero, and full range LP sells a winner into its rally. Everything lives on one chain (4663). Large cycles move prices; minimum output protection bounds, but does not eliminate, bad fills. The Loop advances only when the protocol runs a cycle. The blocklist means some aggregators that route through a blocked pool can fail until allowlisted. The contracts are new code, unaudited until the audit link is published.

Protocol addresses publish at launch and are mirrored on the Ledger, alongside the canonical Uniswap infrastructure Ouro builds on, already verifiable onchain.