GAGE’s trigger fell 100-fold; fee splits followed.

What changed—and what actually executed

No Split was recorded while the 10,000 USDG setting was in force in this covered interval. More precisely, the preserved event responses contain no Split between blocks 95,061,615 and 98,325,755 inclusive, and no intervening ThresholdSet between the two settings.

The high setting came after the October 22 split. Adding that earlier split would produce a three-event total—not the result of the October 26 change.

Who receives the value?

Operations receives ETH. The floor supports sGAGE in GAGE units. The inspected FeeFloor source allocates half of a processed ETH clip to operations, rounding that half down; the remainder is designated for a GAGE purchase. Held GAGE is then placed as protocol-owned liquidity beneath the sGAGE market in the GAGE/sGAGE pair.

This is not a GAGE/ETH redeemable floor, an ETH claim for ordinary GAGE holders, or a guaranteed sGAGE exit price. A GAGE-denominated support mechanism is a different economic right from holding ETH backing.

The two successful transaction receipts contain the same Split events as the window scan. Their FloorAdded logs—11 and 27 respectively—match each Split’s GAGE deposit amount. In the inspected source, the Split event follows the floor call and a checked ETH transfer to the operations wallet. That is evidence of processing, not merely a promise to split fees.

The remaining 0.321137515289931756 ETH is the designated swap input under that source calculation, not an independently reconciled actual-spend total here. The floor deposit can include GAGE already held by FeeFloor, so dividing all deposited GAGE by this ETH allocation would not establish a purchase price. Both post-change Split events report zero bounty.

What this proves—and what it does not

A changed rule was followed by executed processing. This case separates the threshold setting from successful splits and identifies the recipient and supported asset. That is more useful than treating an advertised 50/50 split as evidence that anyone was paid.

It does not establish why the caller acted, whether the high trigger was the binding constraint, or whether inactivity meant malfunction. Historical held balances, USDG spot valuations, open-batch state and swap constraints were not reconstructed. An open batch can process below the trigger; the trigger is not a pause flag.

No claim is made about price impact, returns, all fee inflows, or all deposits, transfers, sweeps and burns. The absence finding is specifically about Split in the stated interval.

Evidence, identity and coverage

37 contiguous successful log responses, each covering 100,000 blocks, span 94,898,450–98,598,449 inclusive and filter FeeFloor’s Split and ThresholdSet events. The requested seven-day history began at 92,801,433; that older prefix is missing. The October 22–26 sequence above is nevertheless wholly inside the completed interval.

Every listed event is bound to its block header by block hash, with its transaction included in that block. The two post-change events are also bound to successful transaction receipts by contract, block hash, transaction hash, log index, topics and data. Timestamps come from those headers, not wall-clock estimates.

GAGE

0x7163ae1b5aea2f09ebc609c52b4dcac0a7a4bc2d

FeeFloor

0x042fed6722e57093d97a4527ad622472ccc8a7be

sGAGE

0x78c88cf8f6e612955526ceb501be82bf3279bd5d

Operations

0x86514e45293fcf111ed8a6bda7c8bca4a64dd9e5

GAGE/ETH pool

0x231764ab2a3150a9b9c21c294cfe3269d7ff6933d7bbe4fc56ede6d246cb2bda
GAGE purchase venue; not the GAGE/sGAGE floor pair.

Pons hook

0xe5e702641ea86f4ae6cc3cdaed2b886f976be044