📚 Protocol
Whitepaper

Whitepaper

The Anemos whitepaper is the canonical reference for the protocol’s design, mathematics, and risk analysis. This page summarizes it; the full source lives in the repository at docs/whitepaper/whitepaper.md.

Abstract

Anemos is a fair-launch, BFT-final proof-of-stake layer-1 with a native, protocol-level overcollateralized stablecoin and a consensus-embedded price oracle. Coins are minted per block by a decaying schedule with a perpetual tail — no premine, no treasury, no supply cap. The stablecoin is Djed/Zephyr-style: mint against a collateral floor, an emission-funded reserve routed by a collateral-ratio EMA, O(1) rebase-index interest, and debt restructuring via recovery tokens. The oracle derives ANM/USD inside consensus from a rotating committee subset’s signed prices, with a TWAP median, a per-block move cap, and deviation-only slashing (absence is never slashed). We prove per-block conservation of the native unit and state the oracle’s honest-majority-of-stake trust ceiling plainly.

Sections

  1. Introduction — why a fork, not a layer.
  2. Consensus — the inherited BFT, sortition-PoS core.
  3. Monetary policy & emission — minted decay + perpetual tail, the proposer/reserve split, and the conservation proof.
  4. The stablecoin — mint/redeem against the floor, the share/rebase-index model, the health-dependent reserve, wind-down, and §4.8 debt restructuring.
  5. The oracle — the per-block OracleData section, subset selection, TWAP median, the move cap, omission-vs-commission slashing, the trust ceiling, and the off-chain feeder.
  6. Determinism & mathematical foundations — integer fixed-point scales and rounding.
  7. Risk analysis — reflexivity, bootstrapping, and ruin probability.
  8. Comparison to prior systems — Djed, Zephyr, and others.

Honest framing

The hard parts are not the codebase mechanics; they are (a) the oracle and its honest-majority trust ceiling, (b) the reflexivity of a native-coin-backed stablecoin, and (c) bootstrapping value before the stablecoin can mean anything. These are designed first and documented in full in the whitepaper’s risk register.

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