Whole Block Commitments

A Whole Block purchased in the primary market reserves the entire block, 30mm gas units, for the buyer. Buyers may decide to strip apart and sell a mix of Inclusion Preconfirmations or Execution Guarantees. At such point, the Whole Block instrument now comprises a mix of other commitments whereupon subsequent secondary market sales of the Whole Block will be defined to be contingent upon including those other commitments.

Sequencing Rights are also conferred to the Block Buyer making a whole block buyer a synthetic Block Builder as articulated in The Design Process. Should a block buyer looking to retain key positions/guarantees in a block be unable to Sequence a block accordingly, they may include their own Execution Guarantees or Inclusion Preconfirmations, and either:

• Sell the Block accordingly, or

• Delegate the Sequencing to a specific Builder

Once a block has been deconstructed, it may not be reconstructed.

Market Details:

• Transaction Fees: [ 10% ] on Primary sale, [ 30 ]bps on secondary market trading TBC