How Wake works
Wake lets a trader launch one token and route a fixed share of their realised trading profit to that token's holders. The routing is enforced by contracts on BNB Chain and by an enclave that alone holds the trading key. It does not rest on the trader's goodwill, or on ours.
How a wake works
- Launch. The trader creates a token on four.meme whose founder is their personal fee splitter, then a vault that names the token and the holders' share of profit.
- Fund. The trader deposits USDT into the vault and pushes it to their Aster account. Only the trader's wallet can deposit, and only the trader decides when capital is exposed.
- Trade. Orders are signed in the trader's wallet and executed by the enclave, which holds the Aster key. The trader never sees that key and cannot move money out of Aster with it.
- Measure. On a fixed cycle the enclave reads the account's realised PnL, applies the holders' share, and moves that amount to the account's spot wallet, set aside.
- Pay. When a payout round is due, the enclave brings the set-aside USDT back to the vault, which locks it for holders, and pays each holder by balance × time held.
Launching
A launch is six transactions, all signed by the trader's wallet. Each step can be resumed if the page is closed.
| Step | What it does |
|---|---|
| Fee splitter | A small contract, one per trader, at an address known before it exists. It receives the token's tax and splits it between the platform and the trader. |
| Token | Created on four.meme with the splitter as its founder. Its buy and sell tax is the platform's 1% plus the trader's own fee, and cannot change afterwards. |
| Bind | The splitter reads the token's tax rates and fixes the platform's slice of the stream. Nobody declares the rate; it is read from the token. |
| Vault | Created by the factory with the token, the holders' share (anywhere from 1% to 100%) and the Aster account the enclave derives for this trader. One wallet, one vault. |
| Gas | A little BNB kept in the vault. The enclave draws at most 0.01 BNB per transaction to pay for settlements and payouts; the trader can withdraw the rest. |
| Capital | Optional. USDT deposited and pushed to Aster in one signature. |
Trading
The Wake terminal shows Aster's live order book, trades and funding, and TradingView charts. Every order is an EIP-712 message the trader signs, bound to one vault, one chain, one nonce and an expiry of at most five minutes. The enclave checks the signature against the creator recorded on-chain in the vault, never against an address sent with the request, and places exactly what was signed.
Supported: market, limit, stop, stop-market, take-profit, take-profit-market, trailing stop and Aster's chase order; leverage up to each market's maximum; cross or isolated margin; single- or multi-asset mode; cancel one or all.
There is no instruction for withdrawing from Aster. Capital comes back only through a settlement, which carries the holders' share with it.
Holder payouts
What is owed
Holders are owed their share of the account's realised profit, net of fees and funding, less any loss still open on the account. The enclave keeps a running total of what it has set aside; a new amount is set aside only when the total owed rises above it. A loss therefore has to be made back before anything new is set aside, and nothing already paid is ever taken back.
When a round happens
- When the trader asks for capital back: whatever is owed goes out in the same move.
- When 1,000 USDT or more is owed.
- Weekly, once at least 100 USDT is owed.
Aster charges a fee to withdraw. When the trader is withdrawing, the trader pays it; when the payout is the only reason to withdraw, it comes out of the holders' amount, which is why small amounts wait.
Who gets what
The enclave records every holder's balance on a schedule and credits balance × time. At a round, the holders' amount is divided in proportion to those credits since the last round, and sent as USDT straight from the vault to each wallet. Amounts too small to be worth a transfer stay in the vault's holder pool and join the next round.
The holder list comes from the token itself. A wake token keeps a small holder-dividend weight in four.meme's tax settings so the token maintains that list; addresses below the token's minimum share are not tracked.
Checking a payout
Each round emits one Settled event and one HolderPaid event per holder from the vault. Every wake page lists its rounds with links to the transactions, and any wallet can be looked up there.
Fees
| Fee | Rate | Paid by |
|---|---|---|
| Platform | 1% of every token buy and sell | Token traders, through the token's tax |
| Trader | Chosen at launch, fixed after | Token traders, through the token's tax |
| four.meme | 1% of every trade on its curve: 0.5% protocol, 0.5% to the Royalty template's author | Token traders, on top of the tax. Set by four.meme, not by Wake |
| Wake, on Aster | 0.01% of each order | The wake's Aster account, through Aster's builder programme |
| Aster | Aster's own rates | The wake's Aster account, as for any account |
| Aster withdrawal | Aster's fixed fee | The trader when withdrawing; holders when a round is paid on its own |
The platform's cut of the tax is fixed in the fee splitter factory and expressed as a share of volume. A 1% platform fee and a 1% trader fee make a 2% tax, and the splitter passes the platform half of it; with a 5% trader fee the tax is 6% and the platform's slice is a sixth.
So a buyer of a wake token with a 2% tax pays about 3% in total on each trade while the token is on four.meme's curve: the 2% tax, and four.meme's own 1%. These rates were measured on a live launch; four.meme sets its part and may change it.
The token does not pay its tax out on every trade. It collects it and sends a batch on once 0.01 BNB has built up; any trade, or anyone pressing the button in a trader's portfolio, sends a full batch to the fee splitter.
The enclave
The enclave is a program running in an Oasis ROFL trusted execution environment. Its keys are derived inside it from the trader's address, so the same trader always gets the same Aster account, and no person can read the key. That includes the trader, and it includes us.
What it can do
- Place the orders a vault's creator signs.
- Move the holders' share inside the Aster account.
- Bring USDT back to the vault, and nowhere else.
- Report a settlement and pay holders from the vault.
- Draw at most 0.01 BNB of gas from a vault per transaction.
What it cannot do
- Take a trader's capital out of the vault.
- Send the holders' pool anywhere but to holders.
- Change a wake's holder share or its token's tax.
- Act on an order its creator did not sign.
Its public API is read-only apart from signed orders. /health reports the last accounting cycle and a rolling hash of its state; the header on every page shows it.
Contracts
Every address below is read from the deployed factories when this page loads. Check them against the explorer before sending anything.
Risks
- Trading risk. Perpetual futures are leveraged. A trader can lose all of their capital, and then there is nothing to share.
- Token risk. A wake token trades freely. Its price can fall to zero regardless of what the wake has paid.
- No promise of payouts. Holders receive a share of realised profit only when there is profit. Past payouts say nothing about future ones.
- Exchange risk. Capital sits in an Aster account. An outage, a change of rules or a failure at Aster affects every wake.
- Enclave risk. The design relies on the TEE keeping its keys secret and on its code doing what is published. A flaw in either would matter.
- Contract risk. The contracts are small and tested, but not yet audited.
- Regulation. Rules for tokens that share trading profit differ by country and may change. You are responsible for what applies to you.