REGIS / ALPHABET
ERC-3643 makes token ownership permission-aware. Regis takes that primitive and builds a market around it, with tokenized Alphabet as the counter-asset — so every trade pays its fee in GOOGLc, and the protocol's balance sheet is denominated in Alphabet from the first block onward.
- Alphabet exposure
- —GOOGLc held by the protocol
- Toll, right now
- —opening window, until the first trade
- Transfers settled
- —each one ran the permission layer
- GOOGL
- —Chainlink, Coinbase GOOGL feed
Reading Base…
A fee has to be denominated in something.
Most protocols charge in their own token and then sell it. The treasury grows, the chart does not, and the two facts are the same fact: the exposure was bought with sell pressure on the thing the holders own.
Regis charges on the other leg. The pair is REGIS against tokenized Alphabet, and the toll is taken from the GOOGLc side of every swap, in both directions. Nothing is minted to pay for it and no REGIS is ever sold to convert it. The exposure the protocol accumulates is simply the fee, already in the asset it was meant to become.
It is external revenue in the strict sense. If nobody trades, nothing accrues — and the protocol has printed nothing to pretend otherwise.
Permission-aware, not permissioned.
ERC-3643 routes every transfer through two questions: may this address hold, and may this movement happen. Regis asks both, on every single transfer, exactly as the standard specifies. An integrator that already speaks ERC-3643 reads this asset with no special case.
Both answer yes, and neither can be made to answer otherwise. That is not a shortcut — it is the only way the two halves fit together. A gated ERC-3643 cannot trade on an AMM at all: a pool holds no identity and no buyer arrives pre-registered, so the first transfer into the pool reverts and the asset is dead on arrival.
The obvious design gives the issuer a toggle — open today, closed tomorrow. That toggle is a rug: one key that can refuse every address at once. There is no such key here, no deny list, and no owner on either the registry or the compliance.
A stock T-REX token grants its issuer pause, setAddressFrozen and forcedTransfer. None of the three exist on this token. Neither does mint, so the supply is a fact rather than a policy.
T-REX puts every token behind an upgradeable proxy, which means the rules you read on Monday can be different code on Tuesday. The bytecode here is the deal. The registry and the compliance are immutable on the token too.
One market. One loop.
Activity in REGIS / Alphabet generates fees. Those fees are already GOOGLc, so they need no conversion and cause no market impact; they accrue to the protocol as claims and become the Alphabet exposure the protocol holds. That exposure can be returned to the market as depth, which is what makes the loop a loop rather than a drain.
Everything that decides an outcome.
| Term | Value | What it means |
|---|---|---|
| Counter-asset | GOOGLc | Coinbase tokenized Alphabet on Base. Eight decimals, B20 standard. |
| Toll | 1.00 % | Charged on the GOOGLc leg of every swap, in both directions. |
| Opening toll | 25 % → 1 % | Decays over 180 seconds from the first trade. Anti-snipe, not revenue policy; the clock starts on the first swap, not on the add. |
| Supply | 1 000 000 000 | Fixed and minted once. There is no mint function. |
| Liquidity | Single-sided | The whole supply is placed above spot in GOOGLc terms, so the pool opens with no Alphabet put in against it. |
| Pool fee | 1.00 % | The ordinary v4 LP fee, separate from the toll and paid to the position. |
| Hook flags | 0x00CC | Toll taken in beforeSwap or afterSwap depending on the swap shape, so all four shapes pay. |
| Emissions | 0 | Nothing is printed. The exposure is bounded by what actually traded. |
Buying REGIS requires GOOGLc, because GOOGLc is the other side of the pair. That is a narrower door than an ETH pair, and it is the deliberate price of a fee that is Alphabet exposure the moment it is charged.
Read it yourself.
Nothing on this page is asserted that the chain cannot confirm. The counter-asset is the token, not the oracle: 0x5bF49E0f… is the Chainlink Coinbase GOOGL price feed used for the dollar figure above and is not tradeable.