what is inn
inn lets you buy or sell coinbase's tokenized stocks on base (nvdac, aaplc, metac, googlc…) at the price you choose, instead of paying slippage with a market order.
your order doesn't sit in a queue. it becomes liquidity. while the price is far, your usdc waits and earns a small yield. when the price reaches your level, your order becomes concentrated liquidity on the aerodrome stock/usdc pool, right at your price. sellers fill it, and you earn the swap fees and aero rewards while being filled. once filled, the position is withdrawn: you own the stock at your price, plus the fees.
set your price. get paid when it fills.
how an order works
an order is a lantern hung at your price. it has three states.
waiting
the price is away from your level. your usdc is deposited in a morpho vault and earns a small, variable yield. nothing is exposed to the market yet.
filling
the price enters your range (a narrow band around your price). your usdc is moved into a concentrated liquidity position on aerodrome, exactly at your price. every seller who trades through that band takes some of your usdc and leaves you stock. while this happens, you collect the pool's swap fees and aero rewards on your position.
filled
the price has crossed all the way through your range. your position is now entirely stock. it is withdrawn from the pool, and everything it earned is settled. you own the stock at your price (slightly better on average, since the range is centered on it), plus the fees.
you can take your lantern back at any time, in any state. sell orders work the same way in the other direction: you provide stock, and buyers turn it into usdc as the price rises through your range.
where the earnings come from
- waiting yield. while your order waits, the usdc sits in a morpho vault. it earns whatever that vault yields. it is small and it varies.
- swap fees. while the price is inside your range, your order is liquidity on aerodrome, and every swap through it pays the pool fee to you, pro rata.
- aero rewards. aerodrome pays aero emissions to liquidity in range. your position earns them only while the price is inside your range.
none of this is earned while the price is outside your range, except the waiting yield. an order that never fills earns only the waiting yield.
fees and $inn buybacks
inn takes no fee on your capital, and nothing on orders that don't fill.
10% of what a filled order earned (swap fees and aero rewards) goes to buying $inn on the market. the other 90% is yours. buybacks are the only link between the protocol and the token.
the token is not launched. see the $inn page for status.
risks, plainly
- partial fills. the price can enter your range and leave again. you would then hold part stock, part usdc, until it comes back or you withdraw.
- crossing back. a concentrated position converts both ways. if the price fills you and then crosses back through your range before withdrawal, your stock turns back into usdc. the protocol withdraws as soon as a fill completes to limit this window, but it exists.
- smart contract risk. inn, morpho, aerodrome and the tokenized stocks are all code. code can have bugs. never commit more than you can lose.
- variable yields. vault yield, swap fees and aero rewards change with market activity and emissions. nothing is guaranteed, and past numbers say nothing about future ones.
- eligibility. coinbase tokenized stocks are only available to eligible users outside the united states. check whether you are allowed to hold them where you live.
- market risk. a filled order means you now own the stock. it can go down.
glossary · lore ↔ real
- the storm
- the market, and the slippage it charges anyone who trades in a hurry.
- the inn
- the protocol.
- the innkeeper
- the interface. she talks, she doesn't custody anything.
- a lantern
- an order hung at your price.
- hanging a lantern
- placing an order.
- taking your lantern back
- cancelling an order. everything returns to you.
- dark lantern
- a waiting order (usdc in the morpho vault).
- flickering lantern
- an order being filled (liquidity in range on aerodrome).
- lit lantern
- a filled order, withdrawn.
- travelers
- sellers (or buyers, for a sell order) who trade through your range.
- gold
- fees earned: waiting yield, swap fees, aero rewards.
- the wall
- your list of orders.
faq
is anything on this site real?
no. this is a simulation. balances are fake, the price path is simulated, and no transaction is ever sent. connecting a wallet only displays your address and your real usdc balance on base, read-only.
why is the simulated price different from the real one?
the simulation starts from the live pool price (dexscreener) and then random-walks on its own, faster than real life, so you can watch orders fill. the storm speed control makes it faster still.
which stocks?
nvdac, aaplc, metac, googlc. more can be added to the config later.
what does a lantern cost?
nothing up front. the protocol keeps 10% of what a filled order earned. an order that never fills costs nothing.
can i lose money with a limit order?
you can't lose to slippage, but you own the stock once filled, and stocks move. read the risks above.
when is the token launching?
not yet. the contract address will only be published on our x account, @innonbase, and on this site. that is the project's only x account. any other one is fake.
disclaimer
this site is a simulation. the protocol and $inn are not live. nothing here is financial advice, an offer, or a solicitation. tokenized stocks may not be available where you live. do your own research and never commit more than you can afford to lose.