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HIKU

How Hiku works

Every token launched on Hiku gets its own gacha machine, stocked with real NFTs by its trading fees.

The loop#

  1. Launch
    Anyone launches a token with 2 to 5 NFT collections. It is live at once. Nobody reviews it.
  2. Trade
    Every trade pays a 2–8% fee, 2% by default. 72% of it goes to the token's machine and 8% to Hiku.
  3. Stock
    A keeper buys floor NFTs with it and locks them in the machine's escrow.
  4. Pull
    Anyone pulls for a capsule. Every capsule holds a real NFT.
  5. Split
    Each pull pays for its own replacement, plus 5% to the creator, 4% to buyback & burn and 1% to Hiku.

In plain English#

A pull costs what an average capsule in the machine is worth, plus what it costs the machine to buy a replacement (about 6%), plus a flat 10%: 5% to the creator, 4% to buy back and burn the token, and 1% to Hiku.

“Average” means averaged over the draw, not over the price tags. Cheaper NFTs are drawn more often, so the price sits at the affordable end of the machine while every NFT still carries a fair share of its value.

Every machine, and the Global pack, prices this way: one formula, one value mix and one set of parameters. Nobody picks a pricing style, so two machines holding the same NFTs charge the same (see one method).

The machine keeps itself in balance. Replacement money buys the NFT back and the keeper tops up whatever is most under-represented. Once the machine holds about a week of pulls, the keeper pauses and new cash waits in the machine. Trading fees are never burned.

At a glance#

LaunchingLive at once
No review
PricingEvery machine and the Global pack
One method
OddsIn proportion to 1 / √value
Cheaper NFTs more often
Price per pullRestock cost ~6%, fee parts 10%
Average capsule + ~16%
Pull fee partsCreator · burn · Hiku, of EV
5% · 4% · 1%
Return to playerPrize value per SOL paid
About 86%
CollectionsPer machine, from the top 40 on OpenSea
2 to 5
Trade fee2% by default
2–8%
Trade fee splitMachine · Hiku · Meteora
72% · 8% · 20%
Randomness
MagicBlock VRF
Payment
SOL

Key terms#

Machine
A token's gacha machine. It holds NFTs in escrow and sells pulls.
Capsule
What a pull drops. It always holds an NFT.
Collection
One of the top 40 Solana NFT collections on OpenSea by floor price. A machine has 2 to 5.
Tier
Common, Rare or Legendary, set by one rule from the collection's floor.
Value
A collection's 24h median floor, capped at its average recorded cost + 25%.
Average capsule
What one pull is worth on average, weighted by each NFT's chance (EV). See why this price.
Global mix
The one share of value per tier that every machine steers toward: equal thirds.
Pot
Cash in the machine: its share of trade fees plus replacement money.
Jar
A collection's share of the pot, saved until it covers the next NFT.
Keeper
The bot that buys floor NFTs into escrow, lowest jar first.
Escrow
The program-owned account holding a machine's NFTs. Only pulls take NFTs out.
Target depth
About 7 days of pulls. At it, the keeper pauses and cash waits in the machine.