One round as work first, then five steps from a sealed order to a payout, then every limit. Figures in the drawings use the live parameters; worked examples are computed by the Weir engine on this page.
Ten sealed bids, five from buyers and five from sellers, go through one round. The rows of the rack are their prices; the counts the scanner reads at each row and the row it stops on are the engine’s. The steps below take each part in turn.
7/7One price for all: 3 buyers and 3 sellers filled at $2.74 /GPU-h. The $2.74 seller is filled 20 of 40 GPU-h. Returned unfilled: buyers at $2.73 and $2.68; sellers at $2.79 and $2.83.
AI teams, and the agents they run. LONG pays out more the higher next week’s average GPU-hour price, up to the band, so a rise in what compute costs is met by the hedge.
An agent bids with a key that can commit and reveal, and can never withdraw.
Neoclouds, labs with spare racks, data centres. SHORT pays out more the lower next week’s average price, down to the floor, so a fall in what their hours earn is met by the hedge.
Both sides lock their whole worst case when the position opens. Nobody owes more later, so nothing is liquidated.
A series is one delivery window of 1 h. Its auctions open 65 m before delivery starts and run as back-to-back rounds of 3 m commit and 2 m reveal. Auctions close 5 m before delivery starts, so the price is set before the first hour is used, and only one series is in auction at a time. Phases come from the clock alone; nobody starts or stops a round.
The series settles on the average of the index prints inside its delivery window, once the last bucket’s report window (1 m) has closed.
H100 hourly (demo) market parameters, read from the contract when this page was published.
5/5After 1 m for late reports, the series settles on that average.
The series in auction when this page was published (Fri 13 Nov, 08:08 UTC). Series 32: auctions Fri 13 Nov, 07:55 UTC to Fri 13 Nov, 08:55 UTC · delivery Fri 13 Nov, 09:00 UTC to Fri 13 Nov, 10:00 UTC · settles from Fri 13 Nov, 10:01 UTC
During the commit phase an order is only a hash and a lock. The lock is dollars moved from your free balance; at least $1.00 (min_lock). Because both sides lock dollars, a commit shows neither side, size nor price, only an upper bound on what the order can cost.
During the reveal phase you send the order and the salt. The contract hashes them again and compares. A commit not revealed in time forfeits 1% of its lock; the rest comes back. Forfeits and the fee of $0.10 every commit pays are burned when the round clears: they belong to nobody, so no one gains when someone else fails to reveal, and taking a slot in a round always costs something.
An account can set a guard: an order priced further than the guard from the reference is void at reveal, and its lock comes back. The commit records the guard and the reference when it is made, so whether an order is void is settled at commit; changing the guard afterwards cannot back out of a bid. An account can also cap what its commits lock in one round (max_round_lock).
weir:v1|32|3|you.testnet|L|1344|300000|5a17c0de5a17c0de5a17c0de5a17c0de
sha256 6dc9fed5705e56d0b4dcdade772f3e0a190c2eba9150d3a00e20276a48ead4f3
5/5The contract hashes them again. The same hash: the order counts.
commit_hash returns the same hash for the same fields. See Agents.Save your salt. Without it you cannot reveal, and 1% of the lock is forfeit.
After the reveal phase anyone may call clear. The contract stacks LONG orders from the highest price down and SHORT orders from the lowest up, and takes the price that trades the most. Ties go to the smallest imbalance, then to the middle of what is left, rounded down to the tick.
Every filled LONG pays that one price per GPU-hour, and every filled SHORT pays the band minus it. A LONG and a SHORT unit together paid exactly the band, so each new pair is fully backed.
In this worked example (band $1.000 /GPU-h): 2 LONG orders for 20 GPU-h and 1 SHORT orders for 15 GPU-h. It clears at a LONG price of $0.400 /GPU-h, for 15 GPU-h. B is filled in part, 5 of 10.
5/5A fills 10, B fills 5 of 10, C fills 15. Everyone pays the one price.
After delivery, settle takes the average of the series’ prints as the fixing. A LONG unit pays the fixing minus the floor, between zero and the band. A SHORT unit pays the band minus that. Then anyone may call redeem for any holder.
How a print is decided. Each of 3 reporters may report a bucket within its window, 5 m plus 1 m of grace. The bucket is decided when every reporter has reported, or when the window closes. The print is the median of the reports. With fewer than 2 reports (quorum) there is no print; with an even number, the two middle reports must agree within 2% (max_spread_bps) or there is no print. A bucket without a print stays without one, and the index chart marks it. Nothing compares a print with earlier ones.
If fewer than 9 prints (min_prints) arrived, the series waits. After 30 m (void_after_secs) it is void: cancelled at the centre of the band. Every LONG and every SHORT is paid half the band, whatever was traded and whatever prints exist, so no trade and no partial set of prints can move the payout. That is close to a refund when the auctions cleared near the centre of the band; whoever paid more than half the band for a side gets less back, and whoever paid less gets more.
5/5A SHORT unit pays the rest of the band: $0.250. Together, exactly the band.
| Floor, band | $2.000 /GPU-h, $0.800 /GPU-h |
|---|---|
| LONG price paid at the auction, p | $0.300 /GPU-h |
| Locked at the open, 1,344 x p | $403.20 |
| Fixing: the average of the 7 prints | $2.550 /GPU-h |
| LONG payout, fixing - floor | $0.550 /GPU-h |
| SHORT payout, band - LONG payout | $0.250 /GPU-h |
| Buyer pays for compute | $2.550 /GPU-h |
| Net: compute - payout + p = floor + p | $2.300 /GPU-h |
| Paid out for 1,344 units | $739.20 |
Drag the handle, or focus it and use the arrow keys: one tick each, ten with Shift.
| Units of LONG | 1,344 GPU-h |
|---|---|
| Dollars locked | $548.35 |
| Most you can lose | $548.35 |
| Your price inside the band | $2.841 /GPU-h |
| At this fixing, for all hours | $3,818.30 |
The band runs from $2.433 /GPU-h to $3.291 /GPU-h. Beyond it you pay or receive the market price again, shifted by the fixed amount.
Weir holds USDC on NEAR. USDC on Base, Arbitrum, Ethereum or Solana can be moved to a NEAR account through NEAR Intents, where solvers quote a price and deliver the token. From there one ft_transfer_call deposits it into Weir, crediting the account named in its message.
Status: quotes only. No cross-chain transfer into Weir is on record yet, so this path is described, not shown working.
4/4One ft_transfer_call deposits it into your Weir free balance.
A dry quote: what a solver would deliver on NEAR today. Nothing is signed or sent.
One fact per line, with the parameter that sets it. H100 hourly (demo) market parameters, read from the contract when this page was published.
networkquorumband_bpsforfeit_bpsreport_grace_secstickmax_anchor_age_secsmax_spread_bpscommit_feemax_commitsmax_order_sizemin_lockmin_prints, void_after_secsset_guard, withdrawreporterslast lookmax_commits, commit_feeusdcno adminagentsget_params