How the Tape works
The Tape is a token that pays its holders in stock. This page is the whole mechanism, with the numbers it runs on and the addresses it runs at.
The rule
Every hour, on the hour, the keeper reads the public map of every memecoin on the chain that is quoted in a real stock. It keeps the ones with at least $100,000 of liquidity, ranks them by 24-hour volume, and takes the top ten. Each gets a weight equal to the square root of its volume, capped at 20%, renormalised. The weights are then added up by the stock each meme is quoted in. Those stock weights are what the reserve buys.
Nothing is picked by hand. The same rule runs on this site, in the keeper, and can be re-run by anyone against the same public map.
Rotation
Fees arrive at the reserve in dollars. On rotation the reserve turns 80% of what it holds into the hour's stocks at the posted weights, through an allow-listed swap adapter, and hands every unit straight to the Tape contract as a payout - in the same transaction. The other 20% buys the Tape back from the pool and burns it. One transaction; its hash is the receipt.
The reserve has no withdraw function. Dollars that enter leave as stock to holders or as burned Tape. The owner can list stocks, allow adapters and change the keeper; it cannot take funds or change the 80/20. Rotations under $25 wait for the next hour rather than spend gas on dust, and every swap carries a floor set 3% under the Chainlink price - a bad fill reverts the whole rotation.
Payouts
The Tape contract keeps a per-share accumulator for every stock it has ever paid. When the reserve distributes, the accumulator rises by amount / totalSupply. Your claimable balance in a stock is accumulator × your balance − what you already claimed, with a correction applied on every transfer so a balance only earns what was distributed while it was held. Selling your Tape does not forfeit what you already earned; buying after a rotation does not entitle you to it.
Claims are pull-based: Claim all, in stock on the front page sends every stock you are owed to your wallet. There is no deadline.
The maths, worked
| Step | Example |
|---|---|
| Fees in the reserve this hour | $1,000.00 |
| Paid in stock (80%) | $800.00, split NVDA 20.4% → $163.20, AMC 15.4% → $123.20, … |
| Bought back and burned (20%) | $200.00 of Tape at the pool price |
| You hold 0.5% of supply | you can claim $4.00 of stock: 0.0036 NVDA, 0.20 AMC, … |
Calculator
Reads this hour's weights and feed prices from the chain when it can; otherwise uses the numbers above.
Contracts
Read from config.js. On mainnet every address here links to a verified source on Blockscout; locally they are the anvil deployment.
| Contract | Address |
|---|
Source: contracts/src/Tape.sol, TapeReserve.sol, TapeSale.sol. Tests: contracts/test/Tape.t.sol.
Keeper
A script, run every hour, or by hand. It cannot move funds anywhere but into holders' claims and the burn; if it ever stops, fees simply wait in the reserve until the next rotation.
KEEPER_PK=… RPC=… CONFIG="$(cat web/config.json)" node keeper/rotate.mjs # map as of 2026-09-09 19:40 UTC: 63 eligible, top ten → MEME/AMC ASTEROID/SPCX … # weights: AMC 15.4% SPCX 10.8% AAPL 10.4% NVDA 20.4% … # rotation #2: $250.00 in → $200.00 paid in stock, $50.00 burned · receipt 0x77e7…
Data
- The map -
https://stockyard.rhps.fun/api/map.json, open source (MIT), refreshed every minute, CORS open. Every meme quoted in a stock, with liquidity, volume, trades and age. - This site -
api/holdings.json(the basket as computed) andapi/receipts.json(every rotation and payout). See API. - Prices - the Chainlink USD feed for each Stock Token, 8 decimals, 24-hour heartbeat; the reserve refuses a feed older than three days.
What you have to trust
- That the keeper runs the rule as published. You can verify: the weights it posted are on chain, the map is public, the rule is on this page.
- That the swap adapter fills at market. It is allow-listed by the owner and the reserve checks its own balance delta; a bad fill shows up in the receipt as fewer units than the feed price implies.
- That the Stock Tokens are what they say. They are issued by a licensed issuer and priced by Chainlink; the Tape does not mint or wrap anything.
Mainnet
Not launched. The pool will be on Pons, quoted in SPY, and the creator fee replaces the local 5%. The contract appears on the front page and on @THETAPE_ first; anything else claiming to be the Tape is a copy. See Legal before buying anything.