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Smart Contract Overview

Hokusai's smart contract system is modular, designed to support decentralized AI model development and tokenization. Here's a simplified flow:

Looking for contract addresses? See Deployments.

Key Components​

Core Contracts​

  • HokusaiToken (ERC20): Model-specific token, earned via performance gains
  • HokusaiParams: Per-model parameters including infrastructureAccrualBps
  • TokenManager: Issues tokens, handles mint/burn logic, distributes rewards
  • DeltaOneVerifier: Validates performance improvements off-chain, triggers minting
  • ModelRegistry: Maps model IDs to token addresses

AMM & Trading​

  • HokusaiAMM: CRR bonding curve for buying/selling tokens with USDC
  • HokusaiAMMFactory: Deploys new AMM pools for each model
  • UsageFeeRouter: Routes API fees using cost-plus logic, with percentage fallback
  • InfrastructureCostOracle: Stores per-model infrastructure cost estimates
  • InfrastructureReserve: Holds infrastructure cost accruals, pays providers

Access Control​

  • ModelAccessController: Enforces access control and fee collection for model usage
  • Governance: Token holder voting on parameters (including infrastructure accrual rate)

Key Features​

Initial Bonding Ratio (IBR) Phase​

  • Each model token starts at a flat launch price of $0.01 per token
  • The AMM hands off to CRR pricing when reserves reach $25,000 USDC or 7 days elapse
  • This bootstraps reserve depth before normal bonding-curve price discovery

Infrastructure Cost Accrual​

  • The primary path is cost-plus routing from InfrastructureCostOracle
  • If the oracle has no entry, each model falls back to infrastructureAccrualBps
  • Infrastructure portion accrues in InfrastructureReserve
  • Providers are paid manually with on-chain invoice tracking
  • Cost rates and per-model parameters are epoch-gated (30-day default) — see Parameter Governance

Profit Share to AMM​

  • Residual after infrastructure (0-50%) flows to AMM USDC reserves
  • Increases reserve without minting tokens
  • Raises spot price: P = R / (w × S)
  • Token holders benefit from genuine profit, not gross revenue
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