Pricing & Allocation

The acquisition price is the average value of the position you might receive, plus a small surcharge (10% by default).

Expected value

EV             = weightedBackingTotal / totalWeight
acquisitionFee = EV · (BPS + surchargeBps) / BPS      (surcharge = 1000 bps)

Because weight is inverse to backing, this works out to the harmonic mean of the pool's backings — cheap positions dominate the price exactly as much as they dominate the odds. A pool of cheap positions stays cheap to acquire from even when a few richly-backed positions sit in it: those are drawn so rarely they barely move the price.

The draw

Randomness comes from a commit-reveal draw keyed to your own transaction:

1. When you request an acquisition, the draw service generates a secret 32-byte seed and publishes its SHA-256 commit to you — before you pay.
2. You pay the acquisition price in a transaction you sign. Its signature is unpredictable to the draw service.
3. Selection index = sha256(seed ‖ paymentSignature) mod totalWeight, walked across position weights. The seed is revealed so you can recompute the draw yourself.

Neither side can steer the outcome alone: the service fixed the seed before seeing your signature, and you can't know the seed when signing.

Settlement order

Requests settle strictly in creation order — a later draw can never jump ahead of an earlier one, so callback timing can't be gamed.

Refund paths

Three situations turn your escrowed fee into a pull-based refund credit instead of a draw:

• Empty pool — every position exited before your request reached the head of the queue.
• Price drift — other acquisitions moved the price beyond your slippage tolerance (10% by default, or your explicit maxAcquisitionFee bound).
• Expiration — the request was never paid within its deadline.

Credits are claimable from the pool page at any time; network transaction fees are not refundable.