Separate inventory from claims
FIFO claims are USD liabilities. Pool tokens are volatile inventory. Their estimated USD value, the amount obtainable by selling them and the amount of USDC already available are not interchangeable.
Service the head, then advance
Settlement funds the oldest eligible claim, up to available liquidity. The next claim becomes payable only after earlier obligations have been serviced according to program rules. Keepers retry progress from confirmed state.
The queue absorbs time, not every risk
The mechanism can defer payment when the pool lacks liquidity. It cannot promise that future losses will arrive or that inventory will retain value. Backing shortfalls, market gaps, failed routes or outages can still delay or impair payouts.
By the SoltoshiDICE project · Reviewed October 18, 2026 · Original FIFO design: Papertrade