DICKBUTT
A Dick-to-Butt
Dividend Protocol.
A technical paper on fee routing, immutable allocations,
and SPCXC distributions to DICKBUTT holders.
Abstract
A meme can have a lasting cultural life. Its trading activity can also fund a defined set of on-chain destinations.
This paper describes the DICKBUTT fee and holder rewards system on Base. Collected fees are separated by token and routed through fixed allocations. WETH funds SPCXC purchases for eligible holders, the Strategic Dickbutt Reserve (SDR), and K.C. Green. DICKBUTT fees are sent to a burn address and to K.C. Green. The deployed collection paths are the existing Clanker locker and a separate adapter for legacy DICKBUTT fees. Aerodrome Slipstream provides the market route for buying SPCXC; this deployment does not hold or harvest an Aerodrome LP position.
Rewards are calculated from balances held over time, checked against a committed payment plan, and transferred directly to eligible wallets. The system combines permissionless collection and splitting with approved automation for swaps and payments. This paper explains both the flow of value and the boundaries of that automation. Contract addresses and operating settings reflect the project’s Base mainnet deployment reference dated 22 September 2026. They describe a dated deployment snapshot, rather than an assurance that administrative settings will never change.
Rewards are scheduled every 6 hours, with SPCXC sent directly to eligible DICKBUTT holders. Each round follows the calculation, verification, and activation process described in §07.
The idea
DICKBUTT is a decentralized, community-run coin. The fee system is intended to support that community over time, with defined allocations that do not depend on the continued involvement of any single contributor. This objective informs the allocation design; the operating roles and remaining administrative powers are documented in §09.
Trading creates fees. The central question is where those fees go after collection. The system gives each supported fee token a defined route, making the connection between trading activity and its destinations easier to inspect.
The design has four outcomes: fund SPCXC distributions for eligible DICKBUTT holders; send DICKBUTT to the shared burn address; provide WETH to the Strategic Dickbutt Reserve; and recognize the artist behind the original character. Each outcome is accounted for in its own token. These flows do not create a fixed return or make a token balance a claim on the reserve.
Explicit destinations. The selected Splits contracts fix recipient addresses and proportions for each of the two incoming fee tokens.
Time matters. Reward calculations measure balances throughout a period, reducing the influence of a momentary balance at one snapshot.
Delivery to the wallet. Approved automation submits payments. A holder does not need to connect a wallet to this page or sign a claim.
Inspectable boundaries. Fixed splits, administrative settings, off-chain calculations, and manual treasury actions have different trust assumptions. They are described separately.
Follow the fees
Read each route from top to bottom. WETH reaches the router through the Clanker locker’s direct collection share. DICKBUTT reaches it through that share and the configured legacy-fee adapter. Both DICKBUTT collection paths enter the same 90/10 split. The WETH route funds SPCXC purchases through the two-hop market conversion in §05.
WETH: 80% to SPCXC purchases for rewards, 10% to the SDR, 10% to K.C. Green. DICKBUTT: 90% to the burn address, 10% to K.C. Green. Direct and legacy DICKBUTT collection feed the same split. The additional Aerodrome route sends SPCXC fees to holders and DICKBUTT fees to the shared burn address.
Select a box to inspect its role. Moving dots illustrate direction; they do not represent live transactions or payment frequency.
Where the fees come from
3.1 Clanker: two collection paths
The existing DICKBUTT/WETH Uniswap V3 position is held by the Clanker LP locker. The locker sends 40% of collected DICKBUTT and WETH to its collection recipient and 60% to its protocol fee Safe. LockerHarvester owns the locker and collects its recipient share into SplitsFeeRouter. These percentages describe upstream collection; they are separate from the downstream holder, reserve, artist and burn allocations.
LegacyFeeHarvester recovers eligible DICKBUTT fees from two configured Safes through the Clanker legacy fee module. The current Safe is adapter index 0 and the historical Safe is index 1. Both routes feed the same router. The adapter can recover DICKBUTT from those Safes, but cannot recover their WETH. When the direct and legacy claims succeed, the pipeline can therefore receive effectively all collected DICKBUTT and 40% of collected WETH.
The DICKBUTT expression assumes the legacy return is available and successfully collected. Upstream Safe balances, module enablement and successful claims determine actual receipts.
3.2 Completed fee-authority assignments
The deployment reference records both required authority handoffs as completed. The Clanker locker’s owner() is LockerHarvester. Separately, the legacy module’s tokenCreator(DICKBUTT) is LegacyFeeHarvester. Locker ownership and legacy creator authority are distinct relationships; completing one does not automatically complete the other. Their assignment transactions appear in §11.
The configured position is NFT ID 1391176, held by the existing Clanker locker through the Uniswap V3 position manager. This is the existing Clanker position, not an Aerodrome NFT or an ERC-20 LP token held by this deployment. These assignments control collection of fees. They do not transfer ownership of the DICKBUTT ERC-20 token contract.
3.3 Fixed adapter and remaining upstream control
The legacy adapter’s module, token, destination and two-Safe list are fixed. It has no owner or destination setter and cannot relay another creator transfer. Upstream Clanker Safe owners still control their Safes and module enablement. A fixed adapter cannot guarantee that every future upstream claim will remain available.
The Clanker harvester has a separate administrator: the project’s 3-of-4 Safe. Its current fee destination is the router, but that destination is not permanently locked. A change is subject to a seven-day delay. Recovery of the configured Clanker position is possible only after the upstream lock expires. These controls and the immutable split destinations should be assessed separately.
3.4 Aerodrome’s role in this deployment
The deployed system does not hold or harvest an Aerodrome LP position. It does not collect fees from the existing DICKBUTT/SPCXC or DICKBUTT/WETH Aerodrome pools. Those pools are explicitly excluded from holder rewards. Aerodrome Slipstream is used only to purchase SPCXC through WETH → USDC → SPCXC. The market route is described in §05 and its dependency addresses are recorded as part of the deployment register.
This distinction separates a fee source from a trading venue. Trading through a pool during a purchase does not give the rewards system ownership of that pool’s liquidity or entitlement to its LP fees. The diagram in §02 follows the deployed Clanker-derived receipts and their destinations. [5]
Every token has a destination
The router creates two genuine Splits PushSplit V2.2 contracts through the official factory. One distributes DICKBUTT; the other distributes WETH. Both deployed splits have the zero address as owner; their recipient lists and percentages are immutable. The fee router has no owner-controlled recipient setters. Splits handles the allocation, while a separate executor handles conversion to SPCXC. [2]
WETH fees
100% OF WETH RECEIVED- 80% · Holder rewards
- Sent to the executor to buy SPCXC for the fixed rewards distributor.
- 10% · SDR
- Received as WETH on Base for the Strategic Dickbutt Reserve (SDR).
- 10% · K.C. Green
- Sent to the configured recipient address for the original artist.
DICKBUTT fees
100% OF DICKBUTT RECEIVED- 90% · Burn address
- The DICKBUTT allocation sent to the shared burn address.
- 10% · K.C. Green
- Sent as DICKBUTT to the configured artist recipient.
Illustrative amounts before tiny raw-unit rounding. The quantity of SPCXC received depends on the executable swap price.
4.1 The denominator matters
“10% of WETH and 10% of DICKBUTT” means 10% of each incoming token stream. It does not add up to a 20% share of their combined value. Likewise, 80% applies to WETH that reaches the splitter, after upstream collection. It is not 80% of total trading volume or 80% of all gross WETH fees generated by the pool. For example, if 100 WETH in collected fees is subject to the documented upstream 40/60 allocation, 40 WETH reaches this pipeline: 32 WETH funds SPCXC purchases, 4 WETH goes to the reserve, and 4 WETH goes to K.C. Green. The other 60 WETH is outside this adapter’s recovery path.
Splits rounds allocations down in the tokens’ smallest units and retains small residual balances. That dust remains in the Split and participates in later distributions, subject to the protocol’s retained-unit behavior. Sending DICKBUTT to the burn address does not call an ERC-20 supply-reduction function; it is a token transfer to that address. SPCXC is purchased on the market and is not minted by this system. No separate WETH allocation is deducted for bot gas; operation is funded externally. [2]
From WETH to SPCXC
The 80% WETH allocation reaches SpcxcSwapExecutor. Its configured route uses Aerodrome Slipstream to exchange WETH for USDC, then USDC for SPCXC. The resulting SPCXC is delivered to the fixed rewards distributor. The executor does not take another percentage of the allocation. [2]
The deployed executor fixes its router, token path and rewards destination. The WETH/USDC purchase pool uses tick spacing 1 and the USDC/SPCXC purchase pool uses tick spacing 10. Operations use the configured Slipstream quoter to assess output before execution. The use of those existing pools is a market purchase, not LP harvesting. Executable liquidity must still be checked at the time of a swap. [5]
5.1 Bounded execution
Only an approved keeper can trigger a conversion. Each call is subject to a size cap, cooldown, deadline, and minimum acceptable output. A separate floor-setter role refreshes a price floor above an owner-defined lower bound. That floor expires within one day; an expired floor stops swaps until it is refreshed.
The contract checks the actual WETH spent and the actual SPCXC received, rather than trusting the router’s reported output alone. The price floor is an administrative protection. It is not an independent price oracle, and it does not eliminate slippage, market manipulation, or owner authority. [2] [4]
5.2 Purchased SPCXC is distributed to holders
After the executor buys SPCXC, the tokens are delivered to the rewards distributor for payment to eligible DICKBUTT holders. This is the purpose of the 80% WETH allocation: purchase the reward asset, account for each holder’s share, and send that share to the holder’s wallet.
The deployed funding path buys SPCXC using the holder-reward share of received WETH. There is no separate Aerodrome LP-fee contribution in this deployment. Payment follows the calculation, commitment, activation, and verification process in §07; the completion of a swap does not itself trigger an immediate payment to every wallet. [1]
5.3 SPCXC: backing and redemption
SPCXc is the SpaceX tokenized stock listed in the official Coinbase Tokenized Stocks catalogue on Base. Issued by Coinbase Onchain SPV Ltd, these securities represent beneficial interests in underlying SpaceX shares. Coinbase describes the programme as fully backed: tokens are issued against shares held in regulated custody, with assets separated from Coinbase through a bankruptcy-remote structure. [6] [7] [9]
In his 14 September 2026 announcement, Brian Armstrong described Coinbase Tokenized Stocks as fully backed securities redeemable for their underlying shares, with corporate dividends integrated into the product. SPCXC therefore connects the DICKBUTT reward mechanism to a share-backed security issued through Coinbase. [8]
Redemption is subject to the issuer’s terms. Coinbase’s FAQ limits primary minting and redemption to approved institutional partners and Authorised Participants. The SPCXc prospectus also provides for redemption by other holders who satisfy its vesting conditions, subject to the stated procedures. Holding tokens in a wallet alone does not establish an unconditional right to redeem; eligibility, identity checks, jurisdiction, fees, and settlement requirements apply. [7] [9]
Within this protocol, “stock dividends” describes trading-fee distributions paid to DICKBUTT holders in SPCXC. These payments are funded by the fee mechanism described in this paper. Any corporate dividend declared on the underlying shares is handled separately under SPCXC’s issuer terms, including reinvestment after applicable deductions. [7] [9]
Reward the balance held over time
A single snapshot can treat a balance held for one moment as if it had been there for an entire period. The calculator instead reconstructs transfer history and measures the time-weighted average balance: how much DICKBUTT a wallet held, multiplied by how long it held that amount.
Bi,k is wallet i’s balance during interval k. Δtk is that interval’s duration. T is the full reward period.
(10M × 3 + 20M × 3) ÷ 6 = 15M average DICKBUTT
6.1 Eligibility and exclusions
The selected minimum is a time-weighted average of at least 6.9 million DICKBUTT across the reward period. Exactly 6.9 million qualifies. Eligibility also follows the configured exclusion list. The current calculator combines 25 explicit exclusions with pool-interface detection. It excludes liquidity pools and their management infrastructure, the burn address, fee-pipeline contracts, K.C. Green’s recipient, the CDB vault, the project Safe and the bot wallets. Unknown custom pool designs may still require an explicit exclusion.
A wallet’s current balance alone cannot determine eligibility for a completed period. The calculation must consider its history, the period boundaries, exclusions, the selected minimum, and any payout threshold. SPCXC has eight decimals, so the smallest payable raw unit is 0.00000001 SPCXC. Values smaller than one raw unit cannot be transferred as fractions of a token unit; rounding dust remains for later accounting. There is no fixed 3,000-holder requirement and no entitlement to equal payments. [1] [3]
Eligibility and proportional allocations are calculated off-chain from finalized DICKBUTT transfer history. The distributor verifies committed Merkle proofs and prevents duplicate payments; it does not independently reconstruct DICKBUTT balances or enforce the 6.9M threshold on-chain. The keeper checks a proposed plan against its own accounting before payment. A newly funded wallet qualifies according to its time-weighted holding over the period, not merely the balance visible when it first receives tokens.
6.2 Dividing the available reward pot
The selected reward policy uses linear weighting: an eligible wallet’s weight is its time-weighted average DICKBUTT balance. Its new allocation is proportional to that weight within the eligible set.
P is the distributable pot used by the calculator after accounting for existing commitments and the live proposal cap. Integer rounding and accrued amounts affect the final payable plan.
For example, a wallet with 15M average DICKBUTT represents 5% of an eligible total of 300M. With an illustrative 100 SPCXC allocation pot, its new share is 5 SPCXC before rounding and settlement rules. Neither the pot nor that return is fixed.
Square-root weighting is also supported, but splitting a balance across multiple qualifying wallets can increase its combined weight. Linear weighting avoids that particular advantage, ignoring eligibility thresholds and integer dust. Neither method identifies unique people. The selected economics are bound into the calculator configuration and need an explicit migration if changed after accounting begins. [3]
6.3 Choosing the first period
The calculator reconstructs balances from the token’s first block. A bootstrap run can establish a starting boundary with a zero reward pot, allowing the next period to measure from that boundary. Without this decision, the initial average can cover the token’s entire history. A completed launch round is now recorded in §11. Its completion establishes payment history, but does not by itself reveal every accounting-period boundary. Period journals remain the source for the precise finalized interval used in a particular allocation.
6.4 Balance changes within a period
Each transfer changes the balance used for the remaining portion of the period. A transfer does not rewrite the amount previously held or the time for which it was held. The calculation therefore distinguishes a continuous position from a position acquired shortly before the period closes.
Consider two wallets over a six-hour period. A wallet holding 10M DICKBUTT throughout the period has a 10M average. A wallet holding zero for the first three hours and 20M for the remaining three hours also has a 10M average. Under linear weighting, the same eligibility rules, and no exclusions, they receive the same weight despite having different closing balances. Prior accrued rewards can still make their final payable amounts differ. [3]
From a calculation to a wallet
Receiving SPCXC at the distributor and paying holders are separate stages. Funds must be reconciled, assigned to a payment plan, committed, and delivered. This prevents the same funds from being promised to multiple rounds.
Measure a finalized period
The calculator uses a selected finalized block and consistent historical data to reconstruct balances, payments, and existing commitments. Missing data or inconsistent commitments stop the calculation.
Build the payment commitment
A Merkle tree summarizes the wallet addresses and payment amounts in a compact root. The calculator journals the period, its configuration, allocations, and payment plan.
Propose and activate
An approved proposer submits the root and total. The selected deployment setting adds zero activation delay, so a new round can activate immediately. Independent keeper verification still precedes payment.
Verify and deliver
The standard keeper independently reconstructs the historical allocation before signing. After activation, an approved keeper sends proof-verified batches of SPCXC directly to wallets. The current operator configuration allows up to 100 recipients per transaction.
Reconcile the result
Failed recipients can be retried individually. Paid amounts are matched against the plan. Unpaid amounts in cancelled or closed matching rounds are credited back once by the calculator.
7.1 What a proof establishes
A valid Merkle proof shows that a payment belongs to the committed plan. It does not establish that the plan used fair eligibility rules or correct historical balances. Those properties depend on the independent reconstruction of the calculation and the controls around proposer, keeper, and owner authority. [3] [4]
7.2 Six-hour reward cycles and carried balances
Rewards are scheduled every 6 hours. The deployed minimum between new round proposals is 21,600 seconds, and the current per-round cap is 10,000 basis points: 100% of the unreserved SPCXC balance. The Safe set this cap in the recorded launch transaction. The operating policy allocates available SPCXC to eligible holders, subject to reservations, accounting and integer rounding. Pending obligations, unpaid batches, and small accrued rewards also affect the distributor’s balance. A balance in the contract is therefore not automatically the same as the amount available for a new round. The 100% cap permits allocation of all unreserved funds; it does not override existing commitments or eligibility calculations.
The selected activation delay is zero seconds: no additional review wait is added after a proposal. This is the deployed setting; historical constructor or documentation defaults do not describe the current configuration. The payout worker checks every minute for ready rounds and unpaid batches. A rate-limited proposal is retried every minute using the existing plan, without recalculating its period. Finality, available fees, completed swaps, bot operation, and transaction processing can still delay delivery. [3] [4]
7.3 Separate available funds from committed funds
The distributor’s token balance contains more than one accounting category. Some tokens may already be reserved for pending or active rounds. Those obligations must be excluded before another round is proposed. Plans prepared locally but not yet committed also require a reservation in the calculator’s records.
This example assumes no additional local reservations. The 800 SPCXC figure is the maximum new commitment under the current cap, before the calculator resolves payable shares and carried accrual. The 200 SPCXC already reserved cannot be allocated again.
This separation prevents funds already committed to one group of recipients from being allocated again. As payments succeed, the record of each round is reconciled against its actual transfers. An unsuccessful recipient can be retried without paying recipients who already received their allocation a second time. [3] [4]
7.4 Capped instalments and recovery
If payable accrued rewards exceed the live round cap, the calculator pays proportional instalments within that cap. Every unpaid amount remains credited to its wallet. Deterministic raw-unit rounding conserves the available budget. The payout threshold selects accrued balances eligible for payment; an individual capped instalment can be smaller than that threshold. Small budgets may therefore pay only some eligible holders in a particular round.
The calculator and proposer share the same journal of periods and payment plans. Retries use that history, and the independent keeper reconstructs each allocation before signing. Fee collection continues after a competing harvest only when its outcome has been conclusively reconciled. Monitoring flags stalled active payouts so an interrupted process can be investigated and resumed. [1] [3]
A connection back to the culture
8.1 Strategic Dickbutt Reserve (SDR)
The Strategic Dickbutt Reserve receives 10% of WETH reaching the splitter. Its mandate is to buy CryptoDickbutts NFTs from the floor and hold them in a Dickbutt community treasury wallet, building a shared reserve to help fund the Gooch Island goal.
These acquisitions also pay homage to CryptoDickbutts, the collection that helped pave the way for the meme in the crypto space. Building the reserve recognizes the collection and its community for bringing Dickbutt into on-chain culture. [10]
The fee contracts deliver WETH on Base. Bridging funds and buying CryptoDickbutts NFTs remain manual treasury actions outside the fee contracts. The allocation provides funding for the reserve; the selection of NFTs, purchase timing, and subsequent use of reserve assets are treasury execution decisions. [1]
The fee router does not choose a listing, bridge funds, verify a listing’s price, or execute a marketplace purchase. Acquisition criteria and transactions should be published alongside the reserve’s holdings, so the community can inspect how funds are deployed toward the stated objective. The allocation alone does not establish automatic floor purchases, minimum purchase volumes, or redemption rights for DICKBUTT holders.
The configured CDB vault recipient is a wallet address, not a deployed automated NFT-buying contract. Its address is listed with the other recipients in §11. Its presence in the WETH split establishes the destination of that allocation; any subsequent purchase must be inspected separately.
8.2 Reserve reporting
The reserve should be evaluated through its holdings and transaction history. A useful record would identify incoming WETH allocations, any bridge transfers, the NFTs acquired, their purchase prices, and the community wallet holding them. Recording transaction hashes and NFT identifiers would allow each acquisition to be checked independently.
Funds allocated to the SDR, funds spent on acquisitions, and funds later deployed toward Gooch Island represent separate stages. Reporting them separately would make the reserve’s progress clear without treating an NFT purchase as an island expenditure. These reporting principles distinguish treasury activity from fee-contract execution; they do not add execution powers to the fee contracts.
8.3 Recognition of the original artist
The two Clanker-derived fee splits each allocate 10% of their respective tokens to the configured K.C. Green recipient. This produces a WETH transfer from the WETH stream and a DICKBUTT transfer from the DICKBUTT stream. The allocation is an ongoing homage to K.C. Green as the creator of Dickbutt. [2]
For years, Dickbutt has circulated through copies, remixes, and communities far beyond its original comic. Green has publicly said he freely lets others use the character. That circulation does not automatically return income to its creator. The allocation is a gesture of gratitude from the community: directing a share of the value built around Dickbutt back to the person who drew it, without asking him to police its use or pursue licensing payments. [11]
The tribute is unsolicited: K.C. Green did not request the payments and does not support crypto. It recognizes his authorship without implying participation in, operation of, or endorsement of the protocol. His configured Bankr wallet is listed in §11.3. Whether he accesses the recipient wallet remains his decision. The allocation does not depend on those balances being used.
Fixed rules. Defined authority.
Permissionlessness is a property of particular actions. Anyone can trigger supported harvesting, token splitting, activation of eligible rounds, and closure of a fully paid round. Swapping and paying require approved keepers; proposing a reward root requires an authorized proposer. Routine automation can operate without multisig signatures, while administration and intervention remain possible. [4]
| Role | Responsibility and boundary |
|---|---|
| Anyone | Collect available fees, trigger the designated token splits, activate an eligible round (immediately under the selected zero-delay setting), and close a fully paid round. |
| Proposer | Commit a reward plan within proposal limits. A proposer role alone cannot execute keeper-only payments. |
| Keeper | Execute permitted swaps and payment batches. The standard keeper verifies allocations before signing. |
| Floor setter | Refresh the swap price floor above the owner’s lower bound. The executor prevents this role from also being a keeper. |
| Guardian | Cancel still-pending rounds and pause or unpause proposals. Zero activation delay provides no guaranteed cancellation window. This role alone cannot move tokens or set operating roles. |
| Owner | Appoint roles and configure limits. The owner also has proposer and floor-setting authority, so its powers are broader than those of an individual bot. |
9.1 Ownership and operating wallets
The project Safe is a 3-of-4 multisig. It owns the rewards distributor, SPCXC swap executor and Clanker harvester, and it also acts as distributor guardian. The original deployment wallet is historical; those three ownable contracts are now owned by the Safe. The keeper, proposer and price updater are separate operating wallets. Their addresses and the four current Safe signers are listed in §11.
Three signer approvals are required for Safe execution. Routine holder payout transactions do not require three fresh signatures: authorized bots perform those operations using their configured roles. Separating daily operations from Safe administration allows automation to continue without removing the Safe’s remaining authority.
9.2 What is immutable
The selected PushSplits have zero owners and fixed recipient allocations. The router has no owner or arbitrary token-routing method. Those properties fix the allocation contracts themselves; they do not remove authority in fee sources, the swap executor, the reward proposer, or external token infrastructure.
9.3 What can be changed
The Safe can manage proposer and keeper roles, reward limits and the review delay. It can pause future proposals and cancel pending rounds before activation. It also controls swap limits and the price-floor lower bound. The Clanker harvester currently permits fee-destination changes after a seven-day delay; its destination is not permanently locked. These are live administrative powers, not merely possibilities in unused deployment code.
The Clanker harvester’s administrator can recover the configured position only after the upstream lock expires. Current and pending fee destinations, lock state and ownership should be checked together when the system is reviewed. Fee-destination controls and custody of the underlying position are separate relationships. The legacy adapter has no owner or destination setter, while upstream Safe owners retain their own module and Safe controls.
The zero-delay reward setting removes the guaranteed time to cancel a bad pending proposal. The guardian can still pause future proposals, and the standard keeper still checks allocations independently. Pausing proposals does not itself stop payout of an already activated round. The owner can change the delay for future proposals within the contract’s permitted range; existing pending rounds retain their recorded activation times.
The distributor has no direct SPCXC rescue function, and the executor blocks rescue of WETH and SPCXC. The Safe’s ability to propose reward roots and appoint keepers remains a material trust assumption. Its authority over swap roles and execution bounds is also broader than the narrow price-updater role. Fixed splits and fixed token destinations therefore operate within a governed system. [2] [4] [5]
The boundaries of the mechanism
A complete description includes the conditions under which the system can slow down, stop, or produce a different economic outcome than expected.
- Fee income is variable.
- It depends on trading activity, liquidity, routing, and the fee sources actually controlled by the pipeline. A new pool cannot force an aggregator to route trades through it.
- Conversion depends on the market.
- Available liquidity, slippage, price-floor validity, router behavior, and reward-token transfer policies affect whether WETH can be converted and how much SPCXC arrives.
- Automation needs operation.
- Bots need gas, functioning infrastructure, correct configuration, and available chain data. A fixed recipient does not guarantee uninterrupted collection or payment.
- A commitment needs independent checking.
- A cryptographically valid plan can still encode the wrong allocation. Independent keeper verification and multisig review remain part of the security model.
- Custody choices can be permanent.
- An incorrectly configured immutable recipient or permanent position lock can be difficult or impossible to repair. The deployed configuration determines the actual result.
- Accounting needs its history.
- The journal supports recovery and detects inconsistencies. Its hashes cannot recover a deleted history; independent backups remain necessary.
10.1 Hosted automation and operating resources
The deployment reference records six server timers enabled on 22 September 2026 at 17:56 UTC, followed by a check confirming that all six were enabled and active. Four hosted services handle keeper work, proposal submission, price updates and monitoring. They run independently of the operator’s Mac. Contracts do not wake themselves up; hosted operators submit the required Base transactions.
The first scheduled pending-round and payout checks, price checks and monitoring jobs completed successfully in that snapshot. The next complete scheduled fee-and-reward cycle had not yet occurred. This operational observation is separate from the already completed first holder round in §11, and should not be read as evidence of uninterrupted operation after the snapshot.
The keeper, proposer and price-updater wallets need native Base ETH for gas. Hosting and data services must remain funded, available and monitored. Gas is not automatically taken from the WETH fee split. Chain finality, cooldowns, operator polling and service faults can delay a six-hour target schedule. Zero additional review delay permits immediate activation of a new proposal; it does not combine collection, conversion, calculation and payout into a single transaction.
The implementation includes caps, timelocks, role separation, retries, and failure checks. Each addresses a specific failure mode. None establishes a fixed yield, a guaranteed token price, or independence from all administrators and external protocols. These limitations are part of the architecture described in the source documents. [1] [3] [4]
Make every claim inspectable
On-chain verification connects the fee flow in Figure 01 to the contracts that carry it out. This register records the tokens, deployed application contracts, fixed recipients, upstream dependencies and operating wallets in the project’s 22 September 2026 Base mainnet reference. The network is Base, chain ID 8453, and transaction gas is paid in native ETH. Contract addresses and ordinary wallet addresses are labelled by role so that governance or operator wallets are not mistaken for deployed application contracts.
A token contract, reward distributor, fee router and operating wallet serve different purposes. Readers can follow the explorer links for the application contracts and launch transactions and compare them against the allocation rules in this paper. The dependency records identify the trading route, while the exclusion records identify pools that do not receive holder allocations or contribute harvested fees.
The project’s reference reports public-state checks completed at 18:02:29.034 UTC, using finalized Base block 51654887. Block hash: 0xcd720654aeba4f4d5fd8b893cbadfe5f6134f1a77f86331e5cdda1b11425ef91.
It records matching bytecode hashes for the five application deployments and 54 passed configuration and relationship checks. Server status was checked separately at 18:02:27.546300 UTC. These are results recorded in that project-supplied snapshot; this publication does not constitute a new independent verification or a security-audit certificate. Administrative settings, signers and operator roles should be rechecked when the reference is updated.
11.1 Token contracts and precision
- DICKBUTT
- 0x2D57C47BC5D2432FEEEdf2c9150162A9862D3cCf
18 decimals.
- SPCXc — reward token
- 0xb2000000000000000000007b9fcbd005511aCBd5
8 decimals.
- WETH
- 0x4200000000000000000000000000000000000006
18 decimals.
- USDC
- 0x833589fCD6eDb6E08f4c7C32D4f71b54bdA02913
6 decimals.
11.2 Deployed application and split contracts
- Clanker harvester (
LockerHarvester) - 0xDc6BCe01E614ECbb449aDA34804723A2693557c6
Owns the Clanker locker and collects its recipient share into the fee router.
- Legacy fee harvester (
LegacyFeeHarvester) - 0x9FC56b0283085CE893028eE62C96741FF37E792C
Recovers DICKBUTT from the two configured legacy fee Safes into the same router.
- Fee intake and routing (
SplitsFeeRouter) - 0x40d09b189EdAD85c5BE27729b735b36a06D25f9D
Routes DICKBUTT and WETH through their respective immutable splits.
- DICKBUTT split
- 0xB484a2778C5d603Acd5046947688d38D153fF5d2
10% KC; 90% burn address.
- WETH split
- 0x440B068cc254A9c1069C9a0cc8124fEe72E9156F
10% KC; 10% CDB; 80% SPCXc purchase executor.
- SPCXc purchase executor (
SpcxcSwapExecutor) - 0x456091B6D448310cab7BDf9459d85CF46E590397
Swaps WETH through USDC and sends SPCXc directly to the distributor.
- Holder rewards distributor (
DickbuttRewardsDistributor) - 0xa1cBE4ADe80b6Db67c5ac75B6509FA55C4a11c6C
Stores SPCXc, commits allocation roots and executes verified batch transfers.
The five application deployments are the distributor, purchase executor, fee router and two harvesters. The two split contracts were created by the fee-router deployment through the Splits factory. The zero-owner splits and fixed legacy adapter have different authority models from the three contracts administered by the project Safe.
11.3 Fixed fee recipients
- K.C. Green · Bankr wallet
- 0x331BB8664d032544327E61753485d06d663995B6
- CDB vault — configured recipient wallet
- 0xB58f2Ce04bd5d397F34ba319316CfaB471E16cF3
- DICKBUTT burn address
- 0x000000000000000000000000000000000000dEaD
The CDB entry is the configured recipient wallet for the reserve allocation. It is also one of the current Safe signers, but the two roles are distinct. K.C. Green’s Bankr wallet on X receives its share in the original fee tokens, while the burn address receives the routed DICKBUTT allocation.
11.4 Clanker sources and dependencies
- Existing Clanker DICKBUTT/WETH Uniswap V3 pool
- 0x92d90f7f8413749Bd4BeA26ddE4e29efC9e9A0B6
- Clanker LP locker
- 0x2Ad4DB8ba8de03834DB14454Afcd74C2393d81C4
- Uniswap V3 position manager
- 0x03a520b32C04BF3bEEf7BEb72E919cf822Ed34f1
- Clanker legacy fee module
- 0x10F4485d6f90239B72c6A5eaD2F2320993D285E4
- Current legacy fee Safe — adapter index 0
- 0x1eaf444ebDf6495C57aD52A04C61521bBf564ace
- Historical legacy fee Safe — adapter index 1
- 0x04F6ef12a8B6c2346C8505eE4Cff71C43D2dd825
The position identifier is 1391176. The existing locker retains custody of that Uniswap V3 position. The current and historical legacy Safes occupy fixed adapter indices 0 and 1 respectively. The position manager, locker, legacy module and Safes are upstream dependencies rather than additional reward distributors.
11.5 Purchase route and split infrastructure
- Aerodrome Slipstream swap router
- 0x698Cb2b6dd822994581fEa6eA4Fc755d1363A92F
- Aerodrome Slipstream quoter used by operations
- 0x514c8B5f54112481E28028F1166Bd78501089259
- Slipstream pool factory
- 0xf8f2eB4940CFE7d13603DDDD87f123820Fc061Ef
- WETH/USDC purchase pool — tick spacing 1
0x4e392fBfE4D0557C82D2F97F02ec39daA31516dd- USDC/SPCXc purchase pool — tick spacing 10
0x0bf58fe0FAc935Ac69595c19B12Ba0d75E3F8c0E- Splits V2 PushSplit factory
- 0x8E8eB0cC6AE34A38B67D5Cf91ACa38f60bc3Ecf4
- Splits V2 warehouse
- 0x8fb66F38cF86A3d5e8768f8F1754A24A6c661Fb8
The purchase pools are used to execute the WETH → USDC → SPCXC conversion. Neither represents an LP position held by this rewards deployment. The quoter informs operations, while the executor’s configured price floor and transaction bounds control acceptable execution. The Splits factory and warehouse provide the split infrastructure.
The existing Aerodrome DICKBUTT/SPCXC pool 0xA044B7dD71993F47171A402dB8853c30A822f8D5 and DICKBUTT/WETH pool 0x696EAb64FF2D7B867CdE8Ab237e29A5f312302fC are explicit holder-calculator exclusions. They do not contribute harvested fees to this deployment.
11.6 Current eligibility and settlement settings
| Setting | Current value |
|---|---|
| Eligible DICKBUTT holding | At least 6,900,000 DICKBUTT, using the time-weighted average balance for the accounting period. |
| Allocation weighting | Linear, proportional to eligible time-weighted holdings. |
| Reward asset | SPCXc, delivered directly to each eligible wallet. |
| Scheduled reward calculation | Every six hours. |
| On-chain minimum between new round proposals | 21,600 seconds — six hours. |
| Additional on-chain review delay | 0 seconds. |
| Per-round share cap | 10,000 basis points — 100% of unreserved SPCXc is permitted. |
| Current operating payout policy | Allocate available SPCXc to eligible holders, subject to reservations, accounting and integer rounding. |
| Smallest payout unit | 1 raw SPCXc unit = 0.00000001 SPCXc. |
| Batch size | Up to 100 recipients per transaction in the current operator configuration. |
| Holder count | Variable; there is no fixed 3,000-holder requirement or entitlement to equal payments. |
11.7 Governance and operating wallets
- Project Safe / owner / guardian
- 0xA15BDE99c19E908db4fa07abe4220De13CFbcF7b
3-of-4 multisig; owns the distributor, swap executor and Clanker harvester; also acts as distributor guardian.
- Keeper
- 0x44aa412ec0B2589BFbb9227e1336F87030D53321
Pays Base gas for fee collection, splits, authorized swaps and authorized holder payout batches.
- Proposer
- 0xEd36De3d0edBF550c159e184cAf4A628F9e3E585
Submits the calculated reward root and total.
- Price updater
- 0x6FCa3eFAae58aa7432d2b3931CDed75395B1cf00
Updates swap-price protection within the configured owner bound.
- Original deployment wallet
- 0xD77cc54f781BA07Fbba9CBe2783AC4241a3e96E3
Historical deployer; the three ownable contracts are now owned by the Safe.
11.8 Current Safe signers
Three of the four signers are required for Safe execution. The Safe’s ownership of the distributor, executor and Clanker harvester, and its guardian role, remain material governance powers. The historical deployer address is retained for provenance; it is not the current owner of those three contracts.
11.9 Application deployment transactions
- DickbuttRewardsDistributor
- 0x2edba8044ea153780c84b8ca214ac40eedfa59535047d5fde6a98219aae146aa
- SpcxcSwapExecutor
- 0x4681c4414b1c96bfebe75ebddc389979abf0abcbdab4e84b93b103b6c4cfbd2e
- LegacyFeeHarvester
- 0xd0f87726f5debf5a99e86133f97d7a0530ec8c1f27fdf49b0928fb96cd9e29be
11.10 Launch and payout evidence
- Safe accepts ownership of the three ownable contracts
- 0xf64c4643dd277ac481386c0f0b10a3617d9b433f8938facb8739dc8c689875aa
- Clanker locker ownership assigned to LockerHarvester
- 0xff50a3cbc53d4051d28fab990eda1e9740521f8edce6b733310b1b27dc356731
- Legacy creator assigned to LegacyFeeHarvester
- 0x49ba13a354864d6487e2a2cfde90ce9a9e1b22c24067791fd991002ba71b0fe5
- Safe sets 100% round cap and retains six-hour interval
- 0xf97b0eb9d30fd7fef4b90425488fbe2fcdf498d12f18c67eb674ac1f6f9dac84
- First verified WETH → USDC → SPCXc purchase
- 0x5d2bb66a0990bd9fcd811a605e44c994a1ff67fcbd9b763dadec5aec45cf986b
- First holder round proposed
- 0x639add78ce893fb6b58d988a21643ef934819cc95af46286927cdb5ed5d7bda8
- First holder round closed after six payout batches
- 0xf11ba921a87a51377f0008f788428da840ef909dbae6fcab71ecc6051265b842
The deployment reference records 1.31412238 SPCXC paid to 589 eligible wallets across six payout batches. Its receipt verification matched all 589 payout events with SPCXC transfers. The remaining 0.00000294 SPCXC was rounding dust.
This historical round demonstrates a completed delivery using the deployed pipeline. It does not set the size of later reward pots, establish a fixed recipient count or promise equal payments. Future amounts depend on received fees, execution prices, eligibility, reservations and successful operations. The later activation of the hosted timers is an operating milestone separate from this already completed round.
Browse the implementation and supporting documentation. The deployment register above records the current reference snapshot; historical design documents below explain the calculation and control model.
References
The current contract addresses, settings and launch evidence above are transcribed from the project’s DICKBUTT Rewards — Base Mainnet Contract Reference, dated 22 September 2026. References [1]–[4] retain the earlier implementation revision for design background; its defaults and planned fee sources are superseded by the deployment snapshot where they differ. Repository access may be required. The issuer and cultural references remain supporting material for their respective sections.
- Architecture & implementation status
Fee sources, system components, policy defaults, and production prerequisites.
- Splits fee integration
Token allocations, immutability, rounding, and executor behavior.
- Reward calculator
Weighting, finalized accounting, journal recovery, and reconciliation.
- Roles & operating bounds
Proposers, keepers, multisig authority, payment limits, and price-floor controls.
- Deployed system reference · 22 September 2026
Project-supplied address and deployment record: Clanker and legacy fee collection, current reward settings, governance, operator configuration and completed launch transactions. The snapshot and its limits are recorded above.
- Coinbase Tokenized Stocks on Base
Official catalogue identifying SPCXc as the SpaceX tokenized stock, with its token address and prospectus.
- Coinbase: backing, custody & redemption
Share backing, regulated custody, primary-market access, and the treatment of corporate dividends.
- Brian Armstrong · View tweet
14 September 2026 announcement describing fully backed securities, redemption for underlying shares, and integrated dividends.
- SPCXc prospectus · Coinbase Onchain SPV Ltd
3 September 2026 prospectus. Sections 12.5, 12.6, and 12.8 cover backing ratios, corporate distributions, vesting conditions, and redemption.
- CryptoDickbutts: collection & community history
Decrypt, 12 February 2022. The collection’s origins among early CryptoPunk holders and its growing community.
- K.C. Green: archived AMA
Archived 2017 discussion with the Sweet Bro and Hella Jeff authors, including Green’s comments on allowing others to use Dickbutt.
A few useful terms
- WETH
- Wrapped ETH: a token form of ETH used by the fee and swap contracts.
- SPCXC
- The configured reward asset: Coinbase’s share-backed SpaceX tokenized stock, officially styled SPCXc. Redemption follows the issuer’s eligibility and settlement terms; see §5.3. This paper displays the ticker as SPCXC.
- SDR
- Strategic Dickbutt Reserve: the Dickbutt community treasury for acquiring floor CryptoDickbutts NFTs and helping fund the Gooch Island goal.
- Slipstream
- Aerodrome’s trading infrastructure used here for the WETH → USDC → SPCXC purchase route. The deployment does not hold or harvest an Aerodrome liquidity position.
- Position NFT
- The identifier for the existing Clanker Uniswap V3 liquidity position. NFT ID 1391176 remains held by the Clanker locker; it is separate from the DICKBUTT token contract.
- Safe
- A multisignature wallet. The project Safe requires three of its four current signers to approve Safe execution, while authorized operator wallets perform routine tasks under their own roles.
- Unreserved balance
- SPCXC available after obligations to existing rounds are accounted for. The deployed 100% proposal cap applies to this amount, not to funds already committed elsewhere.
- Harvester
- A contract that collects available fees from a configured source.
- Keeper
- An approved automated operator that submits permitted on-chain actions.
- Merkle root
- A compact cryptographic commitment to a list of payments. A proof links an individual payment to that list.
- Timelock
- A required waiting period before an action can take effect.
- Time-weighted balance
- A balance averaged over a period, accounting for how long each amount was held.
- Floor price
- For NFTs, the lowest available listing price. This is separate from the swap executor’s minimum acceptable output or “price floor.”