Mission docs

Overview

The Colony is a community-run fork of the iWOOD basket protocol on Robinhood Chain. It lets you deposit one gateway token, REGO, and receive shares in one of two onchain baskets, PHOBOS and DEIMOS, that hold a fixed recipe of meme tokens and tokenized stocks. You can redeem those shares for ETH at any time the protocol is live and unpaused.

The contracts are iWOOD's vault contracts, deployed without modification. The Colony changes three things and nothing else:

• Who runs it. The crew's multisig holds the operator roles.
• Who gets paid. Both protocol fees route to the community treasury.
• What is shipped. Two baskets and these docs. No market terminal, no agent layer, no governance, until reviewed contracts exist for them.

The protocol is non-custodial. You interact with contracts from your own wallet. Neither this site nor any Colony service will ever ask for a seed phrase or private key. If something claiming to be The Colony asks, it isn't.

Glossary

The Colony uses its own names for the protocol's parts. The mapping to upstream iWOOD terms is in the right column so you can read their code and ours side by side.

REGO

The gateway token. The only thing you deposit to mint. Upstream: LOG.

Refinery

A basket vault. Acquires and custodies one basket's recipe, issues shares, applies fees and caps. Upstream: basket vault.

PHOBOS

Basket 001, balanced. Upstream recipe: PLYWOOD.

DEIMOS

Basket 002, space-led. Upstream recipe: PINEWOOD.

Basket share

The ERC-20 you hold after minting. A proportional claim on everything its refinery holds. Upstream: ETF share.

Ascent

Redemption. Burn shares, receive ETH. Upstream: redeem.

Abort

Emergency in-kind redemption while paused. Upstream: emergency exit.

Life support

The protocol fee and the treasury it funds. Upstream: mint fee / redeem fee.

Flight rules

The risk register. Upstream: risk register.

Crew

You, if you're here.

Sol

One Martian day: 24 h 39 m 35 s. The Colony counts time in sols from mainnet launch.

Three layers

The protocol separates three jobs that are easy to confuse.

REGO: mint input

REGO is the required input for primary minting and nothing more. It is not a basket, not a share, and not a claim on any treasury. Holding REGO gives you the ability to mint; it does not give you exposure to the underlying assets until you do.

Refinery: routing and custody

Each basket has exactly one refinery. The refinery acquires and holds that basket's recipe of meme tokens and stock tokens, issues and burns shares, applies caps and fees, and provides the emergency exit path. Refineries are isolated from each other: a problem in one does not touch the other's assets.

Basket share: proportional claim

PHOBOS and DEIMOS are ERC-20 tokens whose supply is backed by the assets actually sitting in their refinery. Each share is a proportional claim on that pool. Shares are only ever issued against value that has already been added, so a depositor can never receive unbacked shares or dilute existing holders.

Baskets and recipes

The percentages below are target purchase allocations applied at each new mint. They are not a promise of permanent live weights. Version 1 has no periodic rebalancing, so the weights you observe in a refinery will drift with the prices of the underlying assets.

PHOBOS · basket 001 · balanced

Roughly equal layers of meme and market. The closer, heavier, faster moon. More cultural exposure, more noise.

DEIMOS · basket 002 · space-led

Space-led growth with a market-and-meme underlayer. The far moon: slower, quieter, pointed outward.

Observed venues

The refinery does not use these pools directly for execution. They are the reference markets a person would look at to understand what the basket is doing. See valuation for why observed prices are not executable quotes.

SPCX exposure

SPCX is treated as tokenized private-equity exposure, not as an ETF or a listed stock. The mainnet configuration will use the canonical SPCX token address published by the token's issuer, and the reference market is its direct SPCX/USDG Uniswap v4 pool.

Private stock tokens carry restrictions that public tokens do not. The issuer or venue may pause, reject, or change transferability, and eligibility can depend on your jurisdiction. This is the highest-severity asset risk in the flight rules, and it is the reason the abort path exists.

Mint

You supply REGO and only REGO. A validated quote defines the execution routes, the minimum shares you will accept, the slippage bound, and a deadline. If any of those bounds is missed during execution, the entire transaction reverts and you keep your REGO.

1. Approve. You authorize one selected refinery to spend an exact amount of REGO.
2. Deposit. REGO enters the refinery. A 0.30% life-support fee is separated from the gross deposit before execution.
3. Process. The net value is routed through approved venues into the four recipe assets in the basket's target proportions.
4. Issue. Basket shares are issued from the value actually added to the refinery, subject to the quote's minimum-output protection.

Worked example

Dynamic minimum

The minimum mint is expressed in USD value, not a hardcoded amount of REGO. The refinery reads a trusted REGO/USD valuation at mint time, so the number of REGO required to clear the minimum changes as REGO's price changes. If the valuation source is missing, stale, or invalid, minting is blocked rather than allowed to proceed on a guess.

Ascent

Ascent is redemption. It removes your proportional claim from every asset in the refinery, sells that slice through approved routes, and settles the result as native ETH in your wallet.

1. Burn. You choose a basket-share amount. Those shares are burned.
2. Slice. The refinery removes a proportional slice of all four underlying assets.
3. Unwind. Approved execution routes sell the slice, consolidate the proceeds into WETH, and unwrap it.
4. Settle. A 0.30% life-support fee is charged from the gross ETH and the remainder is sent to you.

Two exits

Abort exists so that a broken route, a restricted token, or a manipulated pool does not force the refinery to dump assets into a bad market. Instead of a forced sale, you receive the assets themselves and can decide what to do with them.

NAV and share accounting

Net asset value is the fair value of everything one refinery holds. New shares are issued only from value that has already been added after execution, which is what prevents a depositor from receiving unbacked shares or diluting existing holders.

"Value added" is measured after routing completes, not from the quote. If execution delivers less than expected, fewer shares are issued; if it delivers less than the quote's minimum, the transaction reverts.

Observed basket 24h

Any "basket percentage" you see on a dashboard, including third-party ones, is a target-weighted move calculated from observed pool candles. It is a market signal. It is not refinery P&L, NAV performance, or an executable quote.

Valuation

Production pricing must be fresh, normalized, and bounded. Concretely, the valuation layer:

• normalizes token decimals across every asset,
• rejects stale or invalid data rather than using the last known value,
• handles stock-token multipliers so that a token representing a fraction or multiple of one share is priced correctly,
• fails closed and blocks issuance when the required valuation is missing.

Secondary market

A future verified market may pair each basket share with REGO. Market price can diverge from NAV. Mint and ascent create an incentive for arbitrageurs to close that gap; they do not create a guaranteed peg.

Thin liquidity, restricted stock tokens, stale quotes, fees, gas, or a paused refinery can all allow a premium or discount to persist for as long as it likes.

Life support and fees

Settlement comes first, rewards second. The fee is taken at the point where value is easiest to measure: gross REGO on the way in, gross ETH on the way out.

Distributions · phase 2

A portion of protocol revenue may fund rewards for eligible REGO stakers. The claim model is pull-based: eligible users claim rewards directly, and no recipient can block settlement for anyone else. This module has separate economics, review, and activation, and is not part of the v1 launch.

Component status

This page discloses the user-facing fees and the distribution mechanism. The treasury's internal allocation is a crew decision published in mission logs, not something baked into the contracts.

Architecture

Small boundaries, fail closed. Four contracts, each with one job.

Quote validation

Quotes are validated twice. Before a quote is returned as an executable intent, the quoting service checks the request, the provider's response, the targets, the calldata shape, the minimum output, the value, and the deadline. The refinery then re-checks the bounds onchain at execution time.

Operations

Pause is not confiscation. Guardian controls exist to stop new risk, not to take assets. Withdrawals, claims, fee ownership, and the abort path are designed so that an operator cannot silently seize basket assets, even with full operator roles.

Why not ERC-4626

ERC-4626 describes a vault that takes one asset in and returns the same asset out. A refinery takes REGO in, holds four different assets, and normally returns native ETH. Claiming ERC-4626 semantics would be misleading, so the shares use an explicit ERC-20 basket-share interface instead.

Agents and automation

The upstream contracts support policy-controlled automation: an agent can be granted a prior, revocable permission with limits on product, action, spend, slippage, freshness, and expiry, and can then execute within those limits without a manual signature for every action. Missing or widened policy data fails closed.

The Colony does not ship an agent layer, an MCP server, or a quoting API in v1. The capability remains in the contracts because they are unmodified, which is why "automation exceeds intent" stays in the flight rules. If the crew activates automation later, it will be announced as its own phase with its own review.

What v1 does not ship

Owning the fork openly means being clear about what you are not getting. Compared with the upstream project, The Colony v1 does not include:

• A live market terminal. No candles, prints, volume, or news desk. Use the pool explorers and your own tools.
• An agent control room or MCP server. See agents and automation.
• Asset-pool governance. No ballots, no REGO burns for votes, no admission of new assets.
• A self-pick vault factory. No permissionless basket creation.
• Genesis auctions, basket solvers, or collateral use. These remain research items upstream.
• An audit. The contracts are unaudited at the time of writing. If that changes, the report will be linked in the addresses section.

What you do get is the core: two baskets, mint, ascent, abort, and a treasury that belongs to the people using it.

Flight rules

The risk register. Every entry can lose you money; several can do it irreversibly.

Mission phases

Milestone-gated, not date-promised. A phase cannot activate until its contracts, liquidity, data, security review, and public addresses are ready. A status change on this page must be backed by a verifiable contract, transaction, report, or live data.

Addresses

The only addresses that count are the ones in this table. Anything circulating elsewhere is not The Colony.

Testnet · chain 46630

Mainnet · chain 4663

Audit

No audit has been performed. When one is, the report will be linked here with the commit hash it covers.

Disclaimer

The Colony is experimental software. It is not a bank, broker, custodian, investment adviser, or guarantee of value. Smart-contract, agent, liquidity, oracle, and market losses may be irreversible. Tokenized-asset eligibility can depend on your jurisdiction and on third-party terms you agree to separately.

Nothing on this site is financial, legal, or tax advice. The crew does not know your situation. Use of the word "basket" or any comparison to funds describes the mechanism, not a regulatory status.

The upstream iWOOD protocol is a separate project. The Colony uses its contracts under their published license and is not affiliated with, endorsed by, or operated by its team.