The GPU market
charges rent.
Hold the deed.
A Perpetual Compute Right is a one-time purchase of normalized GPU capacity on Robinhood Chain. Your payment sits in escrow and streams to the serving provider only while it stays online — backed by staked $LOXLEY that is slashed in your favor if the SLA breaks. Use the compute, lease it out, or sell the deed. It is yours.
Registry-enforced: ΣCU sold ≤ live capacity × safety§01One instrument, three parties
Pay once, hold capacity
Minting a deed locks its price in tokenized USD. 70% becomes the provider bond, 15% funds the hardware Rollover Reserve, 15% is the protocol fee. The contract refuses to mint beyond live network capacity — sold CU can never exceed what the network actually runs.
Earn only served uptime
The bond streams per online-second across a 3-year vesting horizon. Go dark and the stream halts in the same block; break the SLA and staked $LOXLEY is slashed — 80% escrowed to the affected holders.
Rights outlive hardware
Deeds bind to the pool, not a card. Failed hardware is reassigned with the remaining bond; the Rollover Reserve finances replacement GPUs across generations.
§02Rental treadmill vs freehold
| Hyperscaler rental | Locksley deed | |
|---|---|---|
| Capital cost | $0 — paid forever in the rate | once, at mint |
| Marginal hour thereafter | full market rate, every hour | metered opex only |
| Idle capacity | money burned | spot-leased → cashflow |
| Provider fails | credits, maybe | slashed stake pays you |
| Exit | cancel subscription | sell the deed, 24/7 |
- Deed
- 40 CU · $20,000
- Own inference draw
- 31% of hours
- Idle CU listed at
- $0.048/CU·h
- Spot income, gross/yr
- ≈ $11,600
- Equivalent rental spend/yr
- −$38,900
Figures from live market medians; spot income varies with demand and uptime. A deed is a utility right to capacity — not a guaranteed-income product.
§03The market is open
| Deed | Hardware | Region | Idle / Listed CU | $ / CU·h | Provider uptime 30d | |
|---|---|---|---|---|---|---|
| No live listings yet — capacity is either self-used or unminted. | ||||||
- Awaiting first entries…
§04What can go wrong — and what happens then
Provider goes offline
Bond stream freezes that block. Past the 5-minute grace window the oracle files an SLA breach: stake is slashed (capped at 10% per incident), 80% escrowed to affected deeds, 20% burned. Persistent outage → the deed migrates to a backup provider with its remaining bond.
Hardware ages out
Perpetual means the right, not the silicon. 15% of every sale accrues to the Rollover Reserve; $LOXLEY governance disburses it against replacement hardware. Every disbursement is an on-chain, event-logged transaction.
Oversubscription
The mint function reverts beyond live capacity × safety factor (80%). This is enforced by the contract, not by policy — an invariant, fuzz-tested, that keeps a perpetual right from degrading into a queue.
Proof of compute
v1 uses oracle-attested heartbeats and challenge sampling; TEE attestation where hardware supports it. Fully verifiable execution is roadmap, and we say so here rather than in the fine print.
No waitlists. No price hikes.
No vendor lock-in.