Pappus quotes
Verified against: F-013 (2026-11-09), F-021 (2026-11-09) · spec docs/PRD.md §4.1, §6.3–§6.6 · docs/work/interface-p0.md · D-009 (2026-11-10)
Status: specification. Deployed on NEAR testnet 2026-11-09 (G2 PASS 2026-11-09T20:55Z, commit 5f27f44). Contract tests land at G1.
A Pappus quote is a buyer's promise to buy up to committed_usd_e6 of one collateral asset at no worse than max_discount_bps below the oracle price. The promise is backed by USDC held in nectar-core. One dollar backs one live quote: escrow is never re-lent.
Funding
A buyer funds a quote with the NEP-141 ft_transfer_call of USDC to nectar-core. That call requires exactly 1 yoctoNEAR (F-013). The contract receives ft_on_transfer(sender_id, amount, msg) and credits the quote only if the calling token is the configured USDC token. Every other token panics.
{"FundPappusQuote":{"collateral":"NVDAx","max_discount_bps":250,"notice_period_ns":"604800000000000","buyer_remote_recipient":null}}
| Rule (P0) | Value | Source |
|---|---|---|
| Minimum notice period | 7 days (min_notice_period_s: 604800) | PRD §4.1, D-009 |
| Minimum quote size | $100 (min_quote_usd_e6: 100000000) | PRD §15 (storage griefing) |
| Live quotes per asset | at most 64; more is refunded in full | PRD §6.6 |
| Amount encoding | U128 JSON string, 6 decimals | interface-p0 |
If any rule fails, ft_on_transfer returns the full amount and the token contract refunds it (F-013). On success the contract adds the amount to the asset's committed capacity Q_c and emits quote_funded (NEP-297, F-021).
TopUpQuote adds to an existing quote. Accrued fees are settled to claimable first, so the top-up does not earn fees retroactively.
What a quote earns
Every borrow above the static limit pays a limit premium. The buyers' 70 % share is distributed pro rata to committed dollars through an O(1) accumulator. See Limit premium and fee index. A buyer claims at any time with claim_fees(quote_id) (1 yoctoNEAR).
What a quote costs
When a position is pre-liquidated, quotes for that asset are consumed in ascending max_discount_bps, then oldest first, touching at most 8 quotes. The buyer's escrow repays the debt and the buyer receives collateral worth more than it paid, by up to the discount. In P0 the discount is exactly max_discount_bps. In P1 a TEE computes a clearing discount that can only be lower, and its attestation makes that computation verifiable. See Pre-liquidation.
Leaving
Exit takes two steps with a notice period. See Notice periods.