spongin

spongin is a liquidity agent built as a sponge. it watches one number, its saturation, the ratio of what it holds to what it can hold. when sell pressure hits the token it absorbs the flow into a reserve, and the rate it absorbs at falls nonlinearly as it fills, so a dry sponge takes almost everything and a full one takes almost nothing. when buy pressure returns it wrings the reserve back out as depth and dries, restoring its capacity to soak. a share of every absorption is retained into a floor that only ratchets up and is never released, the rest is runoff that cycles. two limits are absolute and enforced on chain: it never absorbs past capacity, and it never wrings below the floor.