55 PulseX pools (50 9mm V3 pools left out), 54 series, closes 2024-10-08..2026-10-11 before the fix a V3 pool was read as the "deepest pool" on tradable days: HTT-5555 141, HTT-6666 14, HTT-7777 1 Coverage — first priced day per series, days the deepest pool held >= 100,000 HEX, and what a 10,000-HEX buy gives up to fee + slippage there (median) ------------------------------------------------------------------------------------------------------------------------------------------------------ HTT-1788 2024-10-16 726 days, 8 tradable, max depth 342,089 HEX, 10k buy 3.13% matured 2024-10-24 HTT-2340 2025-12-29 287 days, 0 tradable, max depth 2,386 HEX, 10k buy — matured 2026-04-29 HTT-2430 2026-07-19 85 days, 0 tradable, max depth 42,890 HEX, 10k buy — matured 2026-07-28 HTT-2460 2026-07-18 86 days, 44 tradable, max depth 1,274,968 HEX, 10k buy 1.11% matured 2026-08-27 HTT-2490 2026-07-20 84 days, 65 tradable, max depth 1,417,638 HEX, 10k buy 1.28% matured 2026-09-26 HTT-2520 2026-07-20 84 days, 77 tradable, max depth 1,623,654 HEX, 10k buy 0.91% HTT-2550 2026-07-20 84 days, 75 tradable, max depth 1,036,749 HEX, 10k buy 1.25% HTT-2580 2026-07-20 84 days, 74 tradable, max depth 1,544,472 HEX, 10k buy 2.89% HTT-2610 2026-07-20 84 days, 70 tradable, max depth 379,909 HEX, 10k buy 2.88% HTT-2640 2026-07-20 84 days, 78 tradable, max depth 376,635 HEX, 10k buy 3.11% HTT-2670 2026-07-20 84 days, 71 tradable, max depth 374,773 HEX, 10k buy 3.13% HTT-2700 2026-07-20 84 days, 72 tradable, max depth 372,546 HEX, 10k buy 3.17% HTT-2730 2026-07-20 84 days, 70 tradable, max depth 394,710 HEX, 10k buy 2.88% HTT-2760 2026-07-20 84 days, 68 tradable, max depth 392,041 HEX, 10k buy 2.84% HTT-2790 2026-07-20 84 days, 68 tradable, max depth 392,516 HEX, 10k buy 2.83% HTT-2820 2026-07-20 84 days, 72 tradable, max depth 409,234 HEX, 10k buy 2.75% HTT-2850 2026-07-17 87 days, 87 tradable, max depth 393,678 HEX, 10k buy 2.83% HTT-2880 2026-07-14 90 days, 88 tradable, max depth 437,284 HEX, 10k buy 2.57% HTT-2910 2026-05-17 148 days, 91 tradable, max depth 446,281 HEX, 10k buy 2.54% HTT-2940 2026-07-11 93 days, 91 tradable, max depth 433,060 HEX, 10k buy 2.60% HTT-2970 2026-07-11 93 days, 93 tradable, max depth 549,412 HEX, 10k buy 2.17% HTT-3000 2024-10-08 734 days, 734 tradable, max depth 19,045,412 HEX, 10k buy 0.42% HTT-3030 2026-08-12 61 days, 61 tradable, max depth 311,998 HEX, 10k buy 4.00% HTT-3060 2026-09-01 41 days, 41 tradable, max depth 209,654 HEX, 10k buy 4.92% HTT-3090 2026-09-10 32 days, 0 tradable, max depth 19,327 HEX, 10k buy — HTT-3120 2026-09-11 31 days, 0 tradable, max depth 23,123 HEX, 10k buy — HTT-3150 2026-09-12 30 days, 0 tradable, max depth 18,716 HEX, 10k buy — HTT-3180 2026-09-12 30 days, 0 tradable, max depth 26,204 HEX, 10k buy — HTT-3210 2026-09-14 28 days, 0 tradable, max depth 16,247 HEX, 10k buy — HTT-3240 2026-09-14 28 days, 0 tradable, max depth 18,057 HEX, 10k buy — HTT-3270 2026-09-14 28 days, 0 tradable, max depth 16,924 HEX, 10k buy — HTT-3300 2026-09-14 28 days, 0 tradable, max depth 18,214 HEX, 10k buy — HTT-3330 2026-09-14 28 days, 0 tradable, max depth 16,137 HEX, 10k buy — HTT-3360 2026-09-14 28 days, 0 tradable, max depth 16,796 HEX, 10k buy — HTT-3390 2026-09-14 28 days, 0 tradable, max depth 16,433 HEX, 10k buy — HTT-3420 2026-09-14 28 days, 0 tradable, max depth 16,738 HEX, 10k buy — HTT-3450 2026-09-14 28 days, 0 tradable, max depth 17,018 HEX, 10k buy — HTT-3480 2026-09-14 28 days, 0 tradable, max depth 18,162 HEX, 10k buy — HTT-3510 2026-09-14 28 days, 0 tradable, max depth 16,400 HEX, 10k buy — HTT-3540 2026-09-14 28 days, 0 tradable, max depth 16,737 HEX, 10k buy — HTT-3570 2026-09-14 28 days, 0 tradable, max depth 18,443 HEX, 10k buy — HTT-3600 2026-09-14 28 days, 0 tradable, max depth 17,991 HEX, 10k buy — HTT-3630 2026-09-14 28 days, 0 tradable, max depth 16,427 HEX, 10k buy — HTT-3660 2026-09-14 28 days, 0 tradable, max depth 16,637 HEX, 10k buy — HTT-3690 2026-05-16 149 days, 149 tradable, max depth 1,243,554 HEX, 10k buy 1.38% HTT-4000 2025-09-19 388 days, 381 tradable, max depth 16,674,019 HEX, 10k buy 0.40% HTT-5000 2024-10-08 734 days, 734 tradable, max depth 23,241,655 HEX, 10k buy 0.39% HTT-5555 2025-12-07 309 days, 175 tradable, max depth 1,278,907 HEX, 10k buy 1.24% HTT-6000 2025-09-19 388 days, 385 tradable, max depth 29,260,036 HEX, 10k buy 0.37% HTT-6666 2025-12-07 309 days, 308 tradable, max depth 1,526,145 HEX, 10k buy 2.44% HTT-7000 2024-10-08 734 days, 734 tradable, max depth 43,381,189 HEX, 10k buy 0.37% HTT-7777 2025-12-15 301 days, 291 tradable, max depth 1,472,177 HEX, 10k buy 1.35% HTT-7900 2026-05-11 154 days, 154 tradable, max depth 1,438,068 HEX, 10k buy 1.19% HTT-8000 2026-06-30 104 days, 104 tradable, max depth 13,613,426 HEX, 10k buy 0.53% #1 Buy-and-hold to redemption — every tradable day below par: the HTT bought through the pool (0.29% fee) and held, against a stake of the same length opened the same day --------------------------------------------------------------------------------------------------------------------------------------------------------------------------- locked = compounded yearly rate at zero size; stake/yr = the ex-ante stake's, median. Ex-ante = that day's trailing payout held flat (what a reader saw); ex-post = the payouts that happened, then today's held flat. Wins at zero size and at 10,000 HEX through the reserves. HTT days entry disc min/med/max locked min/med/max stake/yr beat ex-ante 0/10k ex-post 0/10k status HTT-1788 7 0.2%/ 0.6%/ 5.0% -22.0%/ 29.6%/ 809.5% 7.4% 86%/ 14% 86%/ 14% MATURED: redeemed at par HTT-2460 34 0.2%/ 1.7%/ 9.6% -1.5%/ 24.8%/ 759.0% 1.3% 94%/ 56% 94%/ 56% MATURED: redeemed at par HTT-2490 54 0.1%/ 1.4%/ 9.5% -55.4%/ 15.5%/ 147.7% 1.3% 91%/ 41% 91%/ 41% MATURED: redeemed at par HTT-2520 74 0.1%/ 0.9%/ 8.4% -2.9%/ 4.4%/ 54.9% 1.3% 76%/ 30% 76%/ 30% live, 15 days left HTT-2550 67 0.0%/ 1.7%/ 8.3% -1.8%/ 6.0%/ 45.5% 1.3% 79%/ 18% 79%/ 16% live, 45 days left HTT-2580 65 0.1%/ 1.3%/ 23.6% -1.0%/ 2.5%/ 118.9% 1.4% 66%/ 12% 63%/ 12% live, 75 days left HTT-2610 51 0.2%/ 2.2%/ 5.5% -0.5%/ 5.1%/ 13.7% 1.4% 71%/ 27% 71%/ 25% live, 105 days left HTT-2640 68 0.0%/ 1.5%/ 8.5% -0.6%/ 2.9%/ 19.5% 1.4% 69%/ 1% 69%/ 1% live, 135 days left HTT-2670 57 0.1%/ 2.4%/ 4.1% -0.3%/ 3.9%/ 6.5% 1.4% 79%/ 0% 79%/ 0% live, 165 days left HTT-2700 62 0.1%/ 2.2%/ 5.8% -0.4%/ 3.2%/ 8.3% 1.5% 76%/ 18% 76%/ 18% live, 195 days left HTT-2730 70 0.4%/ 5.0%/ 13.2% 0.1%/ 6.8%/ 20.7% 1.5% 89%/ 71% 89%/ 70% live, 225 days left HTT-2760 67 0.3%/ 5.8%/ 15.0% -0.0%/ 7.6%/ 21.5% 1.5% 93%/ 57% 93%/ 57% live, 255 days left HTT-2790 68 1.4%/ 5.7%/ 15.8% 1.1%/ 6.0%/ 20.6% 1.5% 99%/ 65% 99%/ 62% live, 285 days left HTT-2820 71 0.4%/ 8.6%/ 16.3% 0.1%/ 9.6%/ 19.6% 1.5% 94%/ 86% 94%/ 86% live, 315 days left HTT-2850 86 0.1%/ 8.6%/ 16.7% -0.2%/ 8.5%/ 18.4% 1.6% 93%/ 91% 93%/ 91% live, 345 days left HTT-2880 88 4.1%/ 9.4%/ 14.2% 3.2%/ 8.6%/ 14.0% 1.6% 100%/ 93% 100%/ 91% live, 375 days left HTT-2910 91 8.1%/ 11.9%/ 16.8% 6.2%/ 10.5%/ 15.9% 1.6% 100%/100% 100%/100% live, 405 days left HTT-2940 91 4.1%/ 12.1%/ 19.9% 2.8%/ 10.6%/ 17.5% 1.6% 100%/ 98% 100%/ 98% live, 435 days left HTT-2970 93 3.4%/ 15.8%/ 24.6% 2.2%/ 12.9%/ 21.4% 1.6% 100%/ 98% 100%/ 96% live, 465 days left HTT-3000 734 4.0%/ 18.8%/ 41.5% 1.4%/ 9.4%/ 34.4% 2.0% 89%/ 89% 99%/ 99% live, 495 days left HTT-3030 61 6.8%/ 12.8%/ 22.5% 4.8%/ 9.3%/ 18.0% 1.7% 100%/100% 100%/ 98% live, 525 days left HTT-3060 22 0.0%/ 3.2%/ 7.8% -0.2%/ 1.9%/ 5.0% 1.7% 77%/ 0% 73%/ 0% live, 555 days left HTT-3690 149 7.2%/ 28.1%/ 35.6% 2.0%/ 9.9%/ 13.8% 2.1% 99%/ 99% 99%/ 99% live, 1185 days left HTT-4000 381 9.5%/ 22.1%/ 40.0% 1.9%/ 5.3%/ 12.6% 2.5% 96%/ 96% 96%/ 96% live, 1495 days left HTT-5000 734 19.8%/ 36.5%/ 62.5% 2.9%/ 6.1%/ 12.5% 3.1% 81%/ 81% 98%/ 98% live, 2495 days left HTT-5555 168 2.2%/ 39.7%/ 59.1% 0.2%/ 6.2%/ 11.1% 3.1% 79%/ 78% 90%/ 86% live, 3050 days left HTT-6000 384 15.8%/ 29.9%/ 55.2% 1.6%/ 3.5%/ 8.6% 3.4% 51%/ 51% 48%/ 47% live, 3495 days left HTT-6666 293 1.1%/ 35.9%/ 66.4% 0.1%/ 3.8%/ 10.0% 3.3% 52%/ 52% 52%/ 52% live, 4161 days left HTT-7000 734 25.6%/ 43.3%/ 73.6% 2.1%/ 4.3%/ 9.7% 3.3% 68%/ 68% 80%/ 80% live, 4495 days left HTT-7777 285 24.4%/ 51.2%/ 67.2% 1.8%/ 4.9%/ 7.9% 3.1% 84%/ 78% 79%/ 76% live, 5272 days left HTT-7900 153 8.0%/ 56.1%/ 67.3% 0.5%/ 5.7%/ 7.8% 3.1% 84%/ 84% 86%/ 86% live, 5395 days left HTT-8000 104 22.7%/ 44.6%/ 53.6% 1.7%/ 3.9%/ 5.1% 3.1% 68%/ 67% 66%/ 66% live, 5495 days left #1 Break-even per anchor — the close that only ties a same-length stake, 0.9971 / (1 + Y), and how often history sat below it ------------------------------------------------------------------------------------------------------------------------------ today's line: Y of a stake opened 2026-10-11 to the anchor's maturity (ex-post = today's payout held flat). The day's own line (same length, that day) is the #1 zero-size win rate. HTT days Y today line close tradable below the line below the day's own: ex-ante / ex-post HTT-3000 495 2.3% 0.975 0.8293 734 100% 89% / 99% HTT-4000 1495 9.8% 0.908 0.7468 381 100% 96% / 96% HTT-5000 2495 21.2% 0.823 0.6655 734 100% 81% / 98% HTT-6000 3495 36.6% 0.730 0.6431 385 91% 51% / 48% HTT-7000 4495 48.4% 0.672 0.5403 734 91% 68% / 80% HTT-8000 5495 59.1% 0.627 0.6435 104 66% 68% / 66% #1 Sold early instead — 90-day price change on tradable days whose exit comes before maturity (median, share up; share up after two swaps at 10,000 HEX) --------------------------------------------------------------------------------------------------------------------------------------------------------- HTT-3000 644 windows, median 90-day change -1.47%, up 44%, up after fees at 10k 42% HTT-3690 59 windows, median 90-day change -18.97%, up 0%, up after fees at 10k 0% HTT-4000 291 windows, median 90-day change -3.13%, up 38%, up after fees at 10k 36% HTT-5000 644 windows, median 90-day change 0.57%, up 53%, up after fees at 10k 49% HTT-5555 85 windows, median 90-day change -39.83%, up 0%, up after fees at 10k 0% HTT-6000 295 windows, median 90-day change -2.28%, up 30%, up after fees at 10k 26% HTT-6666 218 windows, median 90-day change -33.41%, up 18%, up after fees at 10k 1% HTT-7000 644 windows, median 90-day change -2.94%, up 45%, up after fees at 10k 44% HTT-7777 201 windows, median 90-day change -21.94%, up 10%, up after fees at 10k 3% HTT-7900 64 windows, median 90-day change -30.02%, up 6%, up after fees at 10k 3% HTT-8000 14 windows, median 90-day change -17.64%, up 7%, up after fees at 10k 7% #9 Amplification — mint against the stake (1% fee), sell into the pool (0.29%), restake to the maturity: tradable days the loop was on --------------------------------------------------------------------------------------------------------------------------------------- on = proceeds x (1 + Y) > the 1 HEX owed per HTT. Ex-ante Y = that day's payout held flat; ex-post Y = the payouts that happened, then today's held flat. Zero size and 10,000 HTT minted, sold through the reserves. HTT days ex-ante on 0/10k ex-post on 0/10k of ex-ante on, paid 0/10k ex-post gain, 10k on-days highest close when HTT-2460 40 2/1 2/1 2/1 +0.0181 1.039 2026-08-16 HTT-2490 65 0/0 0/0 0/0 — 1.011 2026-09-15 HTT-2520 77 1/0 1/0 1/0 — 1.016 2026-10-08 HTT-2550 75 0/0 0/0 0/0 — 1.002 2026-08-31 HTT-2580 74 5/0 5/0 5/0 — 1.049 2026-07-31 HTT-2610 70 6/0 6/0 6/0 — 1.025 2026-08-03 HTT-2640 78 5/0 5/0 5/0 — 1.017 2026-09-08 HTT-2670 71 7/0 8/0 7/0 — 1.014 2026-09-08 HTT-2700 72 8/0 8/0 8/0 — 1.032 2026-08-01 HTT-2730 70 0/0 0/0 0/0 — 0.996 2026-08-03 HTT-2760 68 1/0 1/0 1/0 — 1.004 2026-08-05 HTT-2790 68 0/0 0/0 0/0 — 0.986 2026-08-05 HTT-2820 72 1/0 2/0 1/0 — 1.016 2026-08-01 HTT-2850 87 5/0 5/0 5/0 — 1.001 2026-07-19 HTT-2880 88 0/0 0/0 0/0 — 0.959 2026-07-19 HTT-2910 91 0/0 0/0 0/0 — 0.919 2026-07-13 HTT-2940 91 0/0 0/0 0/0 — 0.959 2026-07-13 HTT-2970 93 0/0 0/0 0/0 — 0.966 2026-07-31 HTT-3000 734 73/71 2/2 2/1 -0.1364 0.960 2025-06-20 HTT-3030 61 0/0 0/0 0/0 — 0.932 2026-10-11 HTT-3060 41 23/2 23/2 23/2 +0.0105 1.049 2026-10-10 HTT-3690 149 0/0 0/0 0/0 — 0.928 2026-05-16 HTT-4000 381 6/3 12/4 6/3 +0.0209 0.905 2025-10-13 HTT-5000 734 133/133 7/6 6/6 -0.1261 0.802 2026-02-03 HTT-5555 175 43/43 20/19 20/19 -0.0256 1.061 2026-04-23 HTT-6000 385 108/106 132/131 79/77 +0.0270 1.005 2025-09-22 HTT-6666 308 157/155 153/152 153/152 +0.3433 1.083 2025-12-14 HTT-7000 734 217/217 131/131 117/117 +0.0071 0.744 2024-12-19 HTT-7777 291 31/20 47/33 31/20 +0.1602 1.220 2025-12-30 HTT-7900 154 26/24 23/22 23/22 +0.0792 1.028 2026-05-21 HTT-8000 104 31/31 33/33 31/31 +0.0850 0.773 2026-06-30 #10 Premium mint-and-sell — the line is 1.01304 = 1 / (0.99 x 0.9971), not par: each series' first 14 priced days, highest close, its depth, and the most one seller could take that day ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- HTT first day max close on depth HEX above 1.013? one seller, HEX HTT-1788 2024-10-16 1.0055 2024-10-19 342,089 no 0 HTT-2340 2025-12-29 1.0880 2026-01-02 2,086 YES 3 HTT-2430 2026-07-19 2.3970 2026-07-31 7,089 YES 868 HTT-2460 2026-07-18 1.0218 2026-07-18 212,229 YES 4 HTT-2490 2026-07-20 0.9950 2026-07-20 48,000 no 0 HTT-2520 2026-07-20 1.0064 2026-07-23 48,337 no 0 HTT-2550 2026-07-20 1.0019 2026-07-31 277,959 no 0 HTT-2580 2026-07-20 1.0494 2026-07-31 124,425 YES 38 HTT-2610 2026-07-20 1.0203 2026-07-31 93,149 YES 1 HTT-2640 2026-07-20 1.0028 2026-07-31 121,670 no 0 HTT-2670 2026-07-20 1.0303 2026-07-31 90,919 YES 6 HTT-2700 2026-07-20 1.0318 2026-08-01 245,161 YES 20 HTT-2730 2026-07-20 0.9788 2026-07-23 48,446 no 0 HTT-2760 2026-07-20 1.0038 2026-07-31 90,078 no 0 HTT-2790 2026-07-20 1.0263 2026-08-02 97,289 YES 4 HTT-2820 2026-07-20 1.0171 2026-07-31 90,963 YES 0 HTT-2850 2026-07-17 1.0005 2026-07-19 287,106 no 0 HTT-2880 2026-07-14 1.2051 2026-07-14 62,589 YES 433 HTT-2910 2026-05-17 1.4083 2026-05-22 1,332 YES 31 HTT-2940 2026-07-11 0.9587 2026-07-13 286,496 no 0 HTT-2970 2026-07-11 0.9493 2026-07-13 316,769 no 0 HTT-3000 2024-10-08 0.7862 2024-10-13 1,071,251 no 0 HTT-3030 2026-08-12 0.9219 2026-08-12 189,955 no 0 HTT-3060 2026-09-01 0.9991 2026-09-01 182,964 no 0 HTT-3090 2026-09-10 1.2742 2026-09-20 19,327 YES 227 HTT-3120 2026-09-11 1.3937 2026-09-19 23,123 YES 503 HTT-3150 2026-09-12 1.1720 2026-09-17 1,626 YES 8 HTT-3180 2026-09-12 3.1096 2026-09-12 1,936 YES 357 HTT-3210 2026-09-14 1.1232 2026-09-17 1,591 YES 4 HTT-3240 2026-09-14 1.1483 2026-09-16 1,609 YES 6 HTT-3270 2026-09-14 1.1092 2026-09-17 1,581 YES 3 HTT-3300 2026-09-14 1.0791 2026-09-23 18,007 YES 17 HTT-3330 2026-09-14 1.0832 2026-09-16 1,562 YES 2 HTT-3360 2026-09-14 1.1034 2026-09-16 1,576 YES 3 HTT-3390 2026-09-14 1.1883 2026-09-17 1,637 YES 10 HTT-3420 2026-09-14 1.2054 2026-09-21 16,738 YES 116 HTT-3450 2026-09-14 1.0971 2026-09-21 17,018 YES 26 HTT-3480 2026-09-14 1.0895 2026-09-16 1,566 YES 2 HTT-3510 2026-09-14 1.0993 2026-09-16 1,573 YES 3 HTT-3540 2026-09-14 1.1094 2026-09-16 1,581 YES 3 HTT-3570 2026-09-14 1.1144 2026-09-19 18,443 YES 40 HTT-3600 2026-09-14 1.0733 2026-09-20 17,884 YES 15 HTT-3630 2026-09-14 1.1056 2026-09-17 1,578 YES 3 HTT-3660 2026-09-14 1.1281 2026-09-17 1,595 YES 4 HTT-3690 2026-05-16 0.9284 2026-05-16 816,076 no 0 HTT-4000 2025-09-19 1.4886 2025-09-22 76,889 YES 2,356 HTT-5000 2024-10-08 0.6409 2024-10-17 1,608,359 no 0 HTT-5555 2025-12-07 1.0688 2025-12-17 80,508 YES 56 HTT-6000 2025-09-19 1.0054 2025-09-22 239,365 no 0 HTT-6666 2025-12-07 1.0834 2025-12-14 253,670 YES 276 HTT-7000 2024-10-08 0.6169 2024-10-21 2,289,758 no 0 HTT-7777 2025-12-15 1.2770 2025-12-20 9,692 YES 116 HTT-7900 2026-05-11 1.0279 2026-05-21 1,032,404 YES 54 HTT-8000 2026-06-30 0.7729 2026-06-30 1,285,664 no 0 every series-day since launch (deepest PulseX pool, maturity still ahead): close above 1.013 on 855 (39 series); 58 of them in pools >= 100,000 HEX (13 series); minting and selling into the close's reserves ended HEX-positive on 25 at 10,000 HTT, 0 at 100,000 most one seller could take, summed over every day above the line: 36,615 HEX (10,323 in pools >= 100,000 HEX) launch hours, from every swap on the PulseX pools: buys executed above 1.013 — the premium buyers paid, which a minter selling into them could have taken (before slippage); and the highest price the launch window reached before the first close HTT buys HTT bought HEX paid HEX above line top price paid window launch peak pool HEX at launch HTT-7900 114 354,904 1,049,943 690,411 7.764 2026-05-11..2026-05-21 7.946 (2026-05-11) 400,000 HTT-3690 92 520,042 787,966 261,143 2.621 2026-05-16..2026-05-16 2.340 (2026-05-16) 843,573 HTT-4000 23 262,197 372,141 106,525 1.831 2025-09-19..2025-10-09 HTT-2430 133 5,657 48,079 42,349 36.022 2026-07-23..2026-10-11 HTT-3120 45 4,960 11,342 6,317 30.649 2026-09-11..2026-09-24 30.628 (2026-09-11) 1,500 HTT-3180 98 6,834 10,670 3,748 4.777 2026-09-12..2026-10-11 5.535 (2026-09-12) 1,500 HTT-5555 393 87,521 91,856 3,194 1.107 2025-12-07..2026-04-25 1.052 (2025-12-07) 79,760 HTT-2460 59 65,611 69,104 2,638 1.348 2026-07-18..2026-10-11 1.022 (2026-07-18) 205,000 HTT-7777 125 15,150 17,944 2,596 1.364 2025-12-16..2025-12-31 1.077 (2025-12-15) 8,899 HTT-2490 43 119,305 122,803 1,943 1.227 2026-08-20..2026-10-11 HTT-2880 3 9,792 11,404 1,485 1.267 2026-07-14..2026-07-16 1.243 (2026-07-14) 57,000 HTT-6666 96 45,613 47,576 1,369 1.085 2025-12-07..2025-12-23 1.074 (2025-12-07) 79,760 HTT-3090 33 5,099 6,093 927 1.430 2026-09-10..2026-10-09 1.025 (2026-09-10) 1,555 HTT-2580 50 27,778 28,949 809 1.104 2026-07-30..2026-09-08 HTT-8000 5 74,917 76,637 744 1.046 2026-06-30..2026-06-30 1.046 (2026-06-30) 1,388,911 HTT-2670 21 14,935 15,460 330 1.059 2026-07-30..2026-09-08 HTT-3420 38 2,907 3,250 305 1.210 2026-09-16..2026-10-11 HTT-3060 60 15,371 15,820 249 1.052 2026-09-20..2026-10-11 HTT-2640 9 12,527 12,936 246 1.051 2026-09-08..2026-09-12 HTT-3660 48 1,990 2,262 246 1.374 2026-09-16..2026-10-11 HTT-2610 15 26,011 26,590 239 1.027 2026-07-30..2026-09-30 HTT-2820 18 17,059 17,514 232 1.042 2026-07-30..2026-08-02 HTT-3150 43 1,962 2,192 205 1.389 2026-09-12..2026-10-11 1.331 (2026-09-12) 1,500 HTT-2760 1 5,271 5,512 173 1.046 2026-07-30..2026-07-30 HTT-2700 24 22,371 22,832 170 1.041 2026-08-01..2026-10-11 HTT-3390 18 1,276 1,439 146 1.339 2026-09-15..2026-10-11 HTT-3270 33 1,422 1,578 138 1.283 2026-09-16..2026-10-11 HTT-3210 22 1,555 1,707 132 1.249 2026-09-14..2026-10-11 1.110 (2026-09-14) 1,500 HTT-3240 24 1,468 1,610 123 1.297 2026-09-16..2026-10-11 HTT-2790 17 9,680 9,929 122 1.040 2026-07-30..2026-08-03 HTT-3510 20 1,181 1,301 105 1.211 2026-09-15..2026-10-11 HTT-2910 4 97 123 26 1.359 2026-05-17..2026-05-28 1.304 (2026-05-17) 1,260 all series: 1,949 buys above the line, 1,130,331 HEX paid above it; biggest days: HTT-7900 2026-05-11 690,326; HTT-3690 2026-05-16 261,143; HTT-4000 2025-10-09 104,592; HTT-2430 2026-08-17 6,025; HTT-3120 2026-09-11 5,927 realized, the probe's method: 852 sells matched to the seller's own earlier mints of the series; 27 were HEX-positive against the debt (HEX out - HTT sold / 0.99), by 8 addresses: +190,471 HEX on 332,639 HTT; the other 825 sold 34,644,878 HTT for -13,131,356 HEX against the debt; netted per address and series, 6 came out ahead HEX-positive by series-day: HTT-3690 2026-05-16 +161,589 (5 sales, 1 address); HTT-7900 2026-05-11 +27,673 (4 sales, 1 address); HTT-8000 2026-06-30 +340 (5 sales, 1 address); HTT-6666 2025-12-23 +290 (2 sales, 1 address); HTT-5555 2026-02-08 +200 (4 sales, 1 address); HTT-3180 2026-09-20 +194 (1 sale, 1 address); the top two days = 99.4% of the total creators: 25 of the 27 positive sales were by an address that did not create the series; 2 were by the creator (+50 HEX: HTT-6000 2025-09-19, HTT-4000 2025-09-19); on the top two days (HTT-3690, HTT-7900) no seller had created the series fee check, each mint charged only if its day's fee record says so: 27 positive sales, +190,476 HEX, top two days HTT-3690 2026-05-16 +161,589, HTT-7900 2026-05-11 +27,673; of the HTT behind them 500 came from fee-free mints, 0 from days the record does not split (counted as charged) pools: 15,348 lines of the swap file are not PulseX (left out here: the bench's PulseX-only rule); HTT-3690: first 9mm V3 close 2026-05-31, HTT-7900: no 9mm V3 pool #15 Convergence at par — closes inside 14 days either side of maturity, matured series only -------------------------------------------------------------------------------------------- HTT date days close depth HEX gap HTT-1788 2024-10-16 8 0.9500 332,500 5.00% HTT-1788 2024-10-17 7 0.9934 340,024 0.66% HTT-1788 2024-10-18 6 0.9934 340,024 0.66% HTT-1788 2024-10-20 4 0.9943 340,183 0.57% HTT-1788 2024-10-21 3 0.9943 340,183 0.57% HTT-1788 2024-10-22 2 0.9949 340,283 0.51% HTT-1788 2024-10-23 1 0.9978 340,783 0.22% HTT-1788 2024-10-24 0 0.9978 6 0.22% HTT-1788 2024-10-25 -1 0.9978 6 0.22% HTT-1788 2024-10-26 -2 0.9978 6 0.22% HTT-1788 2024-10-27 -3 0.9978 6 0.22% HTT-1788 2024-10-28 -4 0.9978 6 0.22% HTT-1788 2024-10-29 -5 0.9978 6 0.22% HTT-1788 2024-10-30 -6 0.9978 6 0.22% HTT-1788 2024-10-31 -7 0.9978 6 0.22% HTT-2430 2026-07-20 8 0.9404 960 5.96% HTT-2430 2026-07-21 7 0.9404 960 5.96% HTT-2430 2026-07-22 6 0.9404 960 5.96% HTT-2430 2026-07-24 4 0.9313 2,133 6.87% HTT-2430 2026-07-25 3 0.9928 2,892 0.72% HTT-2430 2026-07-26 2 0.9928 2,892 0.72% HTT-2460 2026-08-13 14 0.9889 1,243,281 1.11% HTT-2460 2026-08-14 13 0.9492 1,218,247 5.08% HTT-2460 2026-08-15 12 0.9619 1,226,473 3.81% HTT-2460 2026-08-18 9 0.9915 1,245,516 0.85% HTT-2460 2026-08-20 7 0.9630 1,227,591 3.70% HTT-2460 2026-08-21 6 0.9625 1,227,254 3.75% HTT-2460 2026-08-22 5 0.9842 1,241,162 1.58% HTT-2460 2026-08-23 4 0.9920 1,246,079 0.80% HTT-2460 2026-08-24 3 0.9964 1,248,852 0.36% HTT-2460 2026-08-25 2 0.9969 1,249,144 0.31% HTT-2460 2026-09-07 -11 0.9939 43,130 0.61% HTT-2460 2026-09-08 -12 0.9939 43,130 0.61% HTT-2490 2026-09-12 14 0.9949 1,406,530 0.51% HTT-2490 2026-09-13 13 0.9979 1,408,666 0.21% HTT-2490 2026-09-23 3 0.9935 1,405,744 0.65% HTT-2490 2026-09-24 2 0.9954 1,407,046 0.46% HTT-2490 2026-09-26 0 0.9940 51,527 0.60% HTT-2490 2026-09-27 -1 0.9928 51,496 0.72% HTT-2490 2026-09-28 -2 0.9930 51,502 0.70% #16 Dislocation buying — a tradable close >= 10% under its own trailing 30-close median, bought and sold 30 days later ----------------------------------------------------------------------------------------------------------------------- one event per dip, bought on its first qualifying close: a dip lasts while qualifying closes come within 30 days of each other, so the next event needs more than 30 days with none (no two holds overlap). Net = two 0.29% swaps, at zero size and at 10,000 HEX through the reserves. Base rate = every tradable day, higher close 30 days later. HTT events sold median dip higher 30d on base rate net med 0/10k won 10k locked a year, dip days / all days HTT-2580 1 1 -22.2% 100% 70% 29.2%/21.3% 1/1 118.9% / 2.5% (1 / 65 days) HTT-2790 1 1 -11.3% 100% 58% 12.5%/6.4% 1/1 20.0% / 6.0% (2 / 68 days) HTT-2820 1 1 -11.4% 100% 40% 8.6%/3.0% 1/1 19.6% / 9.6% (1 / 71 days) HTT-2850 1 1 -10.2% 100% 32% 7.8%/2.2% 1/1 18.4% / 8.5% (1 / 86 days) HTT-2910 1 1 -24.9% 0% 31% -5.5%/-10.8% 0/1 8.9% / 10.5% (15 / 91 days) HTT-2940 1 1 -10.1% 100% 54% 10.3%/4.7% 1/1 17.5% / 10.6% (1 / 91 days) HTT-2970 1 1 -15.6% 100% 54% 16.7%/11.9% 1/1 20.6% / 12.9% (6 / 93 days) HTT-3000 2 2 -19.0% 50% 47% 3.2%/2.9% 1/2 18.3% / 9.4% (46 / 734 days) HTT-3690 1 1 -12.1% 0% 43% -9.0%/-10.6% 0/1 10.4% / 9.9% (18 / 149 days) HTT-4000 3 3 -10.1% 33% 48% -5.7%/-6.1% 1/3 9.0% / 5.3% (33 / 381 days) HTT-5000 3 3 -11.5% 33% 53% -15.4%/-15.4% 1/3 9.3% / 6.1% (70 / 734 days) HTT-5555 2 2 -30.1% 0% 28% -6.2%/-9.1% 0/2 7.4% / 6.2% (49 / 168 days) HTT-6000 3 3 -13.8% 67% 46% 9.7%/9.3% 2/3 6.8% / 3.5% (37 / 384 days) HTT-6666 3 3 -19.2% 33% 37% -7.1%/-8.5% 0/3 7.3% / 3.8% (58 / 293 days) HTT-7000 5 5 -11.6% 40% 51% -1.9%/-2.0% 2/5 6.9% / 4.3% (83 / 734 days) HTT-7777 4 4 -26.3% 75% 38% 8.3%/1.9% 2/4 5.2% / 4.9% (53 / 285 days) HTT-7900 1 1 -21.5% 0% 31% -2.9%/-4.7% 0/1 6.5% / 5.7% (27 / 153 days) HTT-8000 2 2 -19.9% 100% 31% 35.4%/34.8% 2/2 4.9% / 3.9% (22 / 104 days) all series, 36 events with a 30-day exit: median net 5.5% at zero size, -1.3% at 10,000 HEX (17 of 36 won), -18.9% at 100,000 HEX; higher close 30 days on 19 of 36 #11 / #12 Curve inversions — days a LONGER series closed at or above the next SHORTER one, both pools >= 100,000 HEX --------------------------------------------------------------------------------------------------------------------- Time Travel (#12) takes the gap: mint the longer series (1% fee), sell it (0.29%), buy the shorter (0.29%). "Doable" = at least one shorter unit per unit minted, at 10,000 HTT through both pools. HTT-2490 (longer) closed at or above HTT-2460 (shorter) on 8 days, first 2026-07-23, last 2026-08-07, median gap 0.75%; doable at 10k on 1 HTT-2850 (longer) closed at or above HTT-2460 (shorter) on 4 days, first 2026-07-19, last 2026-07-22, median gap 1.58%; doable at 10k on 0 HTT-2520 (longer) closed at or above HTT-2490 (shorter) on 21 days, first 2026-07-30, last 2026-09-24, median gap 1.00%; doable at 10k on 3 HTT-2850 (longer) closed at or above HTT-2490 (shorter) on 3 days, first 2026-07-23, last 2026-07-25, median gap 4.69%; doable at 10k on 0 HTT-2550 (longer) closed at or above HTT-2520 (shorter) on 29 days, first 2026-08-01, last 2026-10-05, median gap 0.32%; doable at 10k on 2 HTT-2580 (longer) closed at or above HTT-2550 (shorter) on 50 days, first 2026-07-30, last 2026-10-11, median gap 0.41%; doable at 10k on 2 HTT-2610 (longer) closed at or above HTT-2580 (shorter) on 41 days, first 2026-08-03, last 2026-10-11, median gap 0.50%; doable at 10k on 1 HTT-2640 (longer) closed at or above HTT-2610 (shorter) on 39 days, first 2026-08-06, last 2026-09-25, median gap 0.96%; doable at 10k on 0 HTT-2670 (longer) closed at or above HTT-2640 (shorter) on 15 days, first 2026-08-02, last 2026-10-07, median gap 1.76%; doable at 10k on 1 HTT-2700 (longer) closed at or above HTT-2640 (shorter) on 1 days, first 2026-08-01, last 2026-08-01, median gap 6.89%; doable at 10k on 0 HTT-2700 (longer) closed at or above HTT-2670 (shorter) on 18 days, first 2026-08-03, last 2026-10-10, median gap 0.33%; doable at 10k on 0 HTT-2730 (longer) closed at or above HTT-2700 (shorter) on 1 days, first 2026-10-11, last 2026-10-11, median gap 0.79%; doable at 10k on 0 HTT-2820 (longer) closed at or above HTT-2700 (shorter) on 1 days, first 2026-08-02, last 2026-08-02, median gap 1.48%; doable at 10k on 0 HTT-2760 (longer) closed at or above HTT-2730 (shorter) on 33 days, first 2026-08-05, last 2026-10-04, median gap 0.59%; doable at 10k on 0 HTT-2820 (longer) closed at or above HTT-2730 (shorter) on 2 days, first 2026-08-03, last 2026-08-04, median gap 0.50%; doable at 10k on 0 HTT-2790 (longer) closed at or above HTT-2760 (shorter) on 23 days, first 2026-08-09, last 2026-09-11, median gap 0.83%; doable at 10k on 5 HTT-2820 (longer) closed at or above HTT-2790 (shorter) on 7 days, first 2026-08-05, last 2026-09-03, median gap 0.22%; doable at 10k on 0 HTT-2850 (longer) closed at or above HTT-2820 (shorter) on 7 days, first 2026-08-22, last 2026-09-29, median gap 0.21%; doable at 10k on 0 HTT-2880 (longer) closed at or above HTT-2850 (shorter) on 19 days, first 2026-07-17, last 2026-09-25, median gap 1.40%; doable at 10k on 0 HTT-2910 (longer) closed at or above HTT-2880 (shorter) on 2 days, first 2026-08-02, last 2026-08-07, median gap 0.52%; doable at 10k on 0 HTT-2940 (longer) closed at or above HTT-2910 (shorter) on 46 days, first 2026-07-13, last 2026-09-29, median gap 1.18%; doable at 10k on 0 HTT-2970 (longer) closed at or above HTT-2940 (shorter) on 11 days, first 2026-07-17, last 2026-10-09, median gap 0.60%; doable at 10k on 1 HTT-3030 (longer) closed at or above HTT-3000 (shorter) on 61 days, first 2026-08-12, last 2026-10-11, median gap 12.05%; doable at 10k on 45 HTT-3690 (longer) closed at or above HTT-3000 (shorter) on 11 days, first 2026-05-16, last 2026-08-01, median gap 1.53%; doable at 10k on 2 HTT-4000 (longer) closed at or above HTT-3000 (shorter) on 46 days, first 2025-09-26, last 2026-01-20, median gap 4.19%; doable at 10k on 29 HTT-5000 (longer) closed at or above HTT-3000 (shorter) on 7 days, first 2024-10-16, last 2024-10-22, median gap 8.90%; doable at 10k on 6 HTT-3060 (longer) closed at or above HTT-3030 (shorter) on 41 days, first 2026-09-01, last 2026-10-11, median gap 14.79%; doable at 10k on 39 HTT-4000 (longer) closed at or above HTT-3690 (shorter) on 89 days, first 2026-05-18, last 2026-10-11, median gap 4.30%; doable at 10k on 62 HTT-5000 (longer) closed at or above HTT-4000 (shorter) on 4 days, first 2026-03-27, last 2026-04-07, median gap 0.85%; doable at 10k on 1 HTT-5555 (longer) closed at or above HTT-5000 (shorter) on 28 days, first 2026-04-20, last 2026-08-13, median gap 11.09%; doable at 10k on 24 HTT-6000 (longer) closed at or above HTT-5000 (shorter) on 99 days, first 2025-09-22, last 2026-01-29, median gap 9.71%; doable at 10k on 83 HTT-7000 (longer) closed at or above HTT-5000 (shorter) on 9 days, first 2024-10-12, last 2025-02-05, median gap 2.40%; doable at 10k on 7 HTT-6000 (longer) closed at or above HTT-5555 (shorter) on 107 days, first 2026-05-01, last 2026-10-11, median gap 16.00%; doable at 10k on 90 HTT-6666 (longer) closed at or above HTT-6000 (shorter) on 157 days, first 2025-12-08, last 2026-08-31, median gap 31.29%; doable at 10k on 155 HTT-7000 (longer) closed at or above HTT-6000 (shorter) on 5 days, first 2025-11-20, last 2025-11-28, median gap 8.15%; doable at 10k on 4 HTT-7000 (longer) closed at or above HTT-6666 (shorter) on 117 days, first 2026-05-25, last 2026-10-09, median gap 12.77%; doable at 10k on 112 HTT-7777 (longer) closed at or above HTT-7000 (shorter) on 20 days, first 2025-12-25, last 2026-02-18, median gap 17.06%; doable at 10k on 15 HTT-7900 (longer) closed at or above HTT-7777 (shorter) on 106 days, first 2026-05-11, last 2026-10-09, median gap 6.04%; doable at 10k on 76 HTT-8000 (longer) closed at or above HTT-7900 (shorter) on 104 days, first 2026-06-30, last 2026-10-11, median gap 42.11%; doable at 10k on 104 #13 Maturity roll-up — buy a short series, hold it to redemption, roll the HEX into a longer series that day, hold that to redemption -------------------------------------------------------------------------------------------------------------------------------------- against buying the final series on the start day (same end date, so units compare 1:1) and a stake opened the start day to the same end. A series still within 10 days of maturity at the last close is sold into its own pool there instead. HTT-1788 redeemed 2024-10-24: 8 start days x 3 longer series; at 10k: ahead 100%, beat day-one 29%, beat the stake ex-ante 4% HTT-2340 redeemed 2026-04-29: 0 start days x 0 longer series HTT-2430 redeemed 2026-07-28: 0 start days x 0 longer series HTT-2460 redeemed 2026-08-27: 40 start days x 28 longer series; at 10k: ahead 89%, beat day-one 45%, beat the stake ex-ante 82% HTT-2490 redeemed 2026-09-26: 65 start days x 28 longer series; at 10k: ahead 78%, beat day-one 47%, beat the stake ex-ante 73% 1,000 HEX: 2,964 rolls; more HEX at the end 2,869 (97%), median 1.1417 per HEX; beat buying the final series on day one 1,354 of 2,636 (51%); beat the stake ex-ante 92%, ex-post 92% 10,000 HEX: 2,964 rolls; more HEX at the end 2,441 (82%), median 1.1053 per HEX; beat buying the final series on day one 1,210 of 2,636 (46%); beat the stake ex-ante 76%, ex-post 77% 100,000 HEX: 2,964 rolls; more HEX at the end 1,153 (39%), median 0.8581 per HEX; beat buying the final series on day one 541 of 2,636 (21%); beat the stake ex-ante 36%, ex-post 36% payout sweep at 10k (HEX per T-Share a day, held for the whole term): 1.0 beats the stake 80%, 1.7 beats the stake 77%, 3.5 beats the stake 63%, 7.3 beats the stake 30% Depth — HEX in the deepest pool of each X000 anchor at quarter ends (the number every "thin pool" verdict hangs on) ------------------------------------------------------------------------------------------------------------------- HTT 2024-12-31 2025-03-31 2025-06-30 2025-09-30 2025-12-31 2026-03-31 2026-06-30 2026-09-30 2026-10-11 HTT-3000 4,474,553 5,708,746 4,682,034 7,671,568 8,682,012 9,937,191 12,718,010 14,132,555 7,248,950 HTT-4000 — — — 413,475 5,911,361 8,831,630 14,205,111 15,978,391 15,838,615 HTT-5000 6,222,740 5,125,833 8,302,488 9,873,206 12,570,257 12,928,835 21,454,433 21,795,224 19,198,519 HTT-6000 — — — 224,576 11,093,923 12,396,916 27,639,966 24,841,387 24,634,876 HTT-7000 7,604,494 6,512,031 11,063,291 12,176,727 15,455,512 21,703,680 39,628,913 37,625,924 30,761,245 HTT-8000 — — — — — — 1,285,664 4,257,425 13,613,426