Parameters

Covenant's behavior is fully described by a handful of compile-time constants. They are part of the immutable hook — there are no setters and no governance to change them.

Core parameters

Parameter	Constant	Value	Meaning
Sell retention	RETENTION_BPS	2000 (20%)	Share of the net-of-tax sell retained as a covenant.
Base discount	BASE_DISCOUNT_BPS	500 (5%)	Absorption discount floor.
Max discount	MAX_DISCOUNT_BPS	2000 (20%)	Absorption discount cap under covenant stress.
Creator tax	TAX_BPS	300 (3%)	Flat tax on every buy & sell, taken in ETH.
Basis	BPS	10000	Basis-points denominator.
Covenant duration	covenantDuration()	7 days	Time from creation to expiry. Fixed, no extensions.

Derived behavior

• Discount range — a covenant's discount is set at creation somewhere in [5%, 20%] based on covenant stress (how much open debt is in the queue), then frozen for that covenant's life.
• Expiry destination — settlement targets LOCKED_LP (0) normally, or PROTOCOL_RESERVE (1) as a fallback.
• Swap direction — zeroForOne == true is a buy (ETH → CVN); false is a sell (CVN → ETH). currency0 is native ETH, currency1 is CVN.
• Swap type — exact-input only.

Token

Property	Value
Symbol	CVN
Decimals	18
Pair	CVN / ETH (Uniswap v4)

Immutability

There is no admin key that can change any of the above. The creator address (creator) and the pool initializer (poolInitializer) are set once at deployment and are immutable. Changing any parameter would mean deploying a new set of contracts.

For the deployed addresses on each network, see Deployments.