Docs / Protocol

Risks

What can go wrong, what the owner can and cannot do, and what this is not.

The code

Withdrawal in kind never touches the pool, so the worst a bug in the trading path can do is stop the ride trading, not trap the tokens. The contract must always hold at least the ETH riders and fee recipients are owed, and the invariant tests check that it does.

The owner

The owner is a single key (two-step transferable). It can set the fees within their ceilings (3% on join and sale, 0.05 ETH to open, any author share up to 100%), the exit limits within theirs (impact cap 0.25%–10%, exit threshold and dust line up to 20% each), and the treasury address. It cannot pause the contract, touch a ride, move a rider's tokens or ETH, or make a ride sell for any reason other than the one in the code.

The market

Memecoins go to zero. A ride mirrors a person's position in a coin; the coin can lose all its value while the author still holds it, and the ride will hold it too.
Thin pools. Each sale is capped at about 2% price impact and a big exit is walked down in chunks, but every chunk still sells into whatever liquidity there is. In a thin pool the ride's exit can take many calls and get worse prices than the author got.
Expiry sells everything. When a ride's duration runs out, the next sync sells all of it, whatever the price. Withdraw in kind before expiry if you would rather keep the coin.
Fee-on-transfer and sell-restricted tokens are refused by the sell probe at open. A token that changes its behaviour after a ride opened is not.

The author

The ride reads a balance, not an intent. An author who transfers coins to another wallet instead of selling looks exactly like one who sold, and the ride sells.
An author who buys more resets the reference upwards; a later sale of that top-up is mirrored too.
A ride can be opened on any wallet that holds the coin, by anyone. The handle and thesis text are whatever the opener wrote; the app links the handle to FOMO but cannot verify it.

Not advice

Nothing here, on the board, or in a thesis is investment advice. A thesis is what one person wrote about a coin; a ride is a way to hold it with them. Whether to is your call.