Moments Not built
A quantity you can hand over.
A magnetic moment adds, transfers with the body that carries it, and can be read from outside without opening anything. A Moment is a plain ERC-20 whose redemption price is total assets over total supply, read from the Yoke at the block you ask.
MOMENT
The position stays at work
A concentrated-liquidity position is an NFT with a range on it. It earns while it is in range and it cannot be split, sold in part, or posted as collateral without being unwound first — and the moment you unwind it, it stops earning. Depositing it into a Yoke returns fungible shares against the same position, so it can change hands without ever stopping.
Priced by arithmetic, not by a quote
Redemption is convertToAssets: shares in, assets out,
at the vault’s own accounting. No oracle in that path and no discretion. The number can
go down, and a design in which it cannot is a design in which it has stopped being a
measurement.
What a Moment is not
- not a receipt
- a receipt is evidence of a deposit; this is the claim itself
- not a bond
- no maturity, no coupon — the price moves instead
- not monotone
- it falls when the position does, impermanent loss included
- not live
- no canonical deployment. Deploy one on testnet
A description of something that does not exist. No contract is deployed, no address is live, and nothing here has been audited.
The bench Measured
Point it at any vault and see.
A share price is a claim about what a vault holds. This reads any ERC-4626 address on Base at 121 historical blocks — from your browser, no key and no wallet — and answers the two questions a vault page never does: does the price ever fall, and does it accrue or does it step.
The census Measured
What it found, including where it disagrees with us.
Run across the busiest ERC-4626 vaults taking deposits on Base — 12 of them, each at 121 historical blocks over 30 days — the answer came back 11 accrue, 1 paid nothing at all. A lending vault earns interest every block. Dividing that by time describes what happened, and calling it a rate is fair.
The avalanche argument on Crackle is about pool fee income, which arrives in bursts: the median Uniswap V3 pool on Base pays nothing in 88.4% of blocks. A vault holding LP positions inherits that shape. A vault that lends does not. Both print one percentage on their front page, and nothing in that percentage tells you which you hold.
| Vault | Asset | Annualised | Intervals paying nothing | Busiest 1% | Ever fell | Verdict |
|---|---|---|---|---|---|---|
| aBUSDC | USDC | 0.00% | 100.0% | 0.0% | — | dormant |
| gtusdcp | USDC | 4.35% | 0.0% | 1.0% | — | accrues |
| sparkUSDC | USDC | 3.88% | 0.0% | 1.0% | — | accrues |
| steakUSDC | USDC | 3.24% | 0.0% | 1.1% | — | accrues |
| steakUSDC | USDC | 4.13% | 0.0% | 1.0% | — | accrues |
| gtUSDCp | USDC | 4.35% | 0.0% | 1.0% | — | accrues |
| CSCBUSDC | USDC | 4.00% | 0.0% | 1.1% | — | accrues |
| CSCOREETH | WETH | 1.51% | 0.0% | 0.9% | — | accrues |
| fUSDC | USDC | 5.26% | 0.0% | 0.9% | — | accrues |
| steakUSDC | USDC | 4.35% | 0.0% | 1.0% | — | accrues |
| eWETH-36 | WETH | 1.57% | 0.0% | 1.7% | — | accrues |
| bbqUSDC | USDC | 5.40% | 0.0% | 1.4% | — | accrues |
| Read 2026-08-30 at 121 historical blocks over 30 days, one every 6.0 h. "Steps" means more than a fifth of intervals paid nothing at all; "dormant" means the share price did not move over the window at all. 124 distinct vaults took a deposit in the discovery window; the 12 here are the busiest that are older than the window. | ||||||
Median annualised: 4.13%.
0 had a share price that fell at least once. 0 fail to
answer maxDeposit or maxWithdraw — the functions that make a contract
ERC-4626 rather than merely shaped like one.