Overview - House

House is a set of contracts for markets that issue a token against a collateral token. A curve sets the token’s price from its supply. A buy mints tokens at the curve’s price and a sell burns tokens at the curve’s price. As supply grows, the price on the curve rises or stays level.

How a market is configured

Setting	Options	Page
Curve shape	Any segment layout that meets the contract’s segment rules. The configuration code offers two layouts. Flat: every step at the reference price. Bounded: a band that rises to a target multiple of the reference price, then a tail with a lower slope	Curve shape
Reserve draws	The reserve manager draws collateral from the reserve against issuance tokens locked in a position, up to the locked tokens times the reference price. Endowed: an endowment controller also draws, with no locked tokens, up to the draw bound, and sends each draw to a delegate address	Endowed reference segment
Modules	Credit: loans against locked issuance tokens, valued at the reference price. Early access: a sale phase before public buying. Staking: issuance tokens locked against collateral drawn at the reference price and deposited into an approved strategy	Credit and looping, Early access, Staking
Fees and routing	Buy, sell and origination fees, and the split of collected fees between recipients and elevation	Fees and routing
Collateral token	Any standard ERC-20 token, including another market’s issuance token	Connected markets

Components

Component	Contract	Role
Market curve	`ReferenceCurve_v1`	Holds the segments and the reserve. Mints on buy, burns on sell
Issuance token	`ERC20IssuanceCurveBound_v1`	The token the market issues. The factory deploys one per market, bound to the market’s curve
Reserve manager	`ReserveManager_v1`	Records collateral drawn from the reserve by modules, and endowment draws
Credit facility	`CreditFacility_v1`	Lends collateral against locked issuance tokens
Staking manager	`StakingManager_v1`	Locks staked issuance tokens, draws collateral against them from the reserve at the reference price, and deposits it into an approved strategy
Early access	`Presale_v1`	Buys issuance tokens on the curve for buyers before public buying opens, and holds them until claimed
Fee splitter	`SplitterTreasury_v1`	Divides collected fees between recipients and elevation
Elevation treasury	`ElevationTreasury_v1`	Holds collateral for `elevate`, which raises the reference price
Endowment controller	`EndowmentController_v1`	Draws from the reference reserve to a delegate on an endowed market
Freeze guardian	`MarketFreezeGuardian_v1`	Holds a market’s freeze state. While the market is frozen, its `permissioned` and `whenNotFrozen` functions revert
Routers	`AtomicBuyRouter_v1`, `AtomicSellRouter_v1`, `AtomicLoopRouter_v1`, `AtomicRepayRouter_v1`	Trade across connected markets in one transaction

How it works

Markets and curves: segments, buy and sell prices, and the reserve.
Curve shape: the segment layouts the contract accepts, and the flat and bounded layouts.
How the reference price increases: rebalance and elevation.
Credit and looping: loans against locked issuance tokens, and repeated buy-and-borrow in one transaction.
Staking: locked issuance tokens, collateral drawn at the reference price, and strategies.
Fees and routing: buy, sell and origination fees, and the fee treasury split.
Endowed reference segment: draws from the reference reserve to a delegate.
Early access: the presale module and its allowlist and public stages.
Connected markets: a market whose collateral token is another market’s issuance token, and the routers that trade both.
Authority: roles, permissioned functions, freeze and upgrades.
From configuration to live market: the factory and the launch route.

_{Source: house-markets/contracts at 0ebbc89a (branch integration/v12-post-qa).}