Linear bonding curves · 300M $TRI per pool · WETH @ $2,062 · CHAOSLP @ $0.0000000257 · All prices as of 2026-04-02
All three curves produce identical USD pricing. The linear curve price(s) = BASE + SLOPE × s is parameterized so that each pool maps to the same $0.0001 → $0.01 USD range. The curves look different in native quote terms (tiny fractions of WETH, thousands of CHAOSLP) but a buyer spending $100 on any pool gets the same amount of $TRI at the same point on the curve.
This is by design — arbitrageurs will keep the pools aligned. If ETH price moves, the ETH pool's USD-equivalent price shifts, creating an arb opportunity that corrects it.
Since all three curves map to the same USD range, they overlap perfectly:
The same curves look very different in their native denominations:
| Sold | Tokens | USDC Price | USDC Cost | WETH Price | WETH Cost | CLP Price | CLP Cost |
|---|---|---|---|---|---|---|---|
| 0% | 0 | $0.000100 | $0 | $0.000100 | $0 | $0.000100 | $0 |
| 10% | 30,000,000 | $0.001090 | $17,850 | $0.001090 | $17,850 | $0.001090 | $17,850 |
| 25% | 75,000,000 | $0.002575 | $100,312 | $0.002575 | $100,312 | $0.002575 | $100,313 |
| 50% | 150,000,000 | $0.005050 | $386,250 | $0.005050 | $386,250 | $0.005050 | $386,250 |
| 75% | 225,000,000 | $0.007525 | $857,813 | $0.007525 | $857,812 | $0.007525 | $857,812 |
| 90% | 270,000,000 | $0.009010 | $1,229,850 | $0.009010 | $1,229,850 | $0.009010 | $1,229,850 |
| 100% | 300,000,000 | $0.010000 | $1,515,000 | $0.010000 | $1,515,000 | $0.010000 | $1,515,000 |
| Sold | Tokens | USDC/TRI | WETH/TRI | CHAOSLP/TRI |
|---|---|---|---|---|
| 0% | 0 | 0.000100 USDC | 0.0000000485 WETH | 3,889.77 CLP |
| 10% | 30,000,000 | 0.001090 USDC | 0.0000005286 WETH | 42,398.53 CLP |
| 25% | 75,000,000 | 0.002575 USDC | 0.0000012488 WETH | 100,161.66 CLP |
| 50% | 150,000,000 | 0.005050 USDC | 0.0000024491 WETH | 196,433.54 CLP |
| 75% | 225,000,000 | 0.007525 USDC | 0.0000036494 WETH | 292,705.42 CLP |
| 90% | 270,000,000 | 0.009010 USDC | 0.0000043695 WETH | 350,468.55 CLP |
| 100% | 300,000,000 | 0.010000 USDC | 0.0000048497 WETH | 388,977.30 CLP |
At launch (0% sold): 1 TRI = $0.0001 = 0.0001 USDC = 0.0000000485 WETH = 3,890 CHAOSLP
At 50% sold: 1 TRI = $0.005 across all pools. Total spent across all 3 pools: ~$1.16M
At fully sold: 1 TRI = $0.01. 900M TRI circulating = $9M fully diluted market cap
Total cost to buy out all 3 pools: ~$4.545M ($1.515M per pool)
ETH moves: If ETH goes from $2,062 to $3,000, the WETH pool becomes cheaper in USD terms. Arbers buy TRI on the WETH pool and sell on the USDC pool until prices converge. This generates fees on both pools and burns TRI on the sell side.
CHAOSLP moves: CHAOSLP is volatile. If it 10x's, the CHAOSLP pool becomes very cheap in USD terms — massive arb opportunity. If it dumps, the pool becomes expensive and trading shifts to USDC/WETH. The CHAOSLP pool can die without affecting the other two.
The USDC pool is the anchor. It’s the only pool with a stable quote asset. It sets the "true" USD price that the other pools arb against.
Steeper USDC slope (1.5×) · Shorter $CHAOSLP pool (233M) · ETH unchanged · 90% in curves, 10% treasury
The curves are no longer identical. The USDC pool rises faster (1.5× slope, 334M), reaching $0.01663 at full sell-through vs $0.01109 for ETH (333M). The $CHAOSLP pool holds 233M tokens, capping at ~$0.00779 USD. 90% of supply is locked in curves.
This creates persistent arb surfaces between pools with different terminal prices — the USDC pool will almost always be the most expensive venue.
| Pool | Supply | % | Slope (USD-equiv) | Terminal Price | Total Cost |
|---|---|---|---|---|---|
| TRI / USDC | 334M | 33.4% | 4.95 × 10⁻¹¹ (1.5×) | $0.01663 | $2,794,400 |
| TRI / WETH | 333M | 33.3% | 3.30 × 10⁻¹¹ | $0.01109 | $1,863,000 |
| TRI / $CHAOSLP | 233M | 23.3% | 3.30 × 10⁻¹¹ | $0.00779 | $919,100 |
| Treasury | 100M | 10% | — | — | — |
| Total | 1B | 100% | $5,576,500 |
| Tokens Sold | USDC Price | USDC Cost | WETH Price | WETH Cost | $CHAOSLP Price | $CHAOSLP Cost |
|---|
USDC is always most expensive. At any fill level, the USDC curve price exceeds ETH and $CHAOSLP. Arbers buy cheap on ETH/$CHAOSLP and sell on USDC — ETH fees flow to the gauge, $CHAOSLP fees flow to Chaos staking, USDC sells burn TRI.
$CHAOSLP sells out first (233M), then ETH (333M). USDC is the deepest pool (334M) and the last to sell through. Once $CHAOSLP is gone, arb narrows to USDC ↔ ETH. 90% of supply is locked in curves, 10% treasury for LPs and partnerships.
Total cost to buy all curves: ~$5.58M. At 10% sold, a $1K trade moves the USDC price ~1.5% — enough arb signal to drive cross-pool volume.