sheardocs

Protocol

Corporate actions

Splits and similar events change how much Tesla stock one TSLAx represents. The program reads that from the token itself and prices every round with it.

The multiplier#

TSLAx is a Token-2022 token with a scaled-amount extension. Raw token balances never change; the issuer changes a multiplier instead, and schedules each change with an activation time. One TSLAx is worth the Pyth TSLA price times the multiplier.

How rounds use it#

  • The strike is set with the multiplier in force at the start.
  • The close mark uses the multiplier in force at close − 1, and both are stored in the round.
  • Once observed, the settlement value can’t change, even if the multiplier changes later.
  • Multipliers outside 0.000001 to 1,000,000 are rejected.

The 15-minute pause#

Every instruction that moves TSLAx refuses to run within 15 minutes either side of a scheduled multiplier change. A close mark can’t be recorded once a change has activated after the close. Both rules fail closed: the program waits rather than guess which multiplier applies.