One buyer. One provider. One model at a defined grade, context and latency class. A fixed price for ninety days, with Bitdepth checking the agreed grade every night and both sides reading the same number. We're matching the first blocks now.
Two endpoints with the same model name can return different outputs for the same prompt, so the name alone does not say what is being bought. Declared precision is the provider's claim and is held to consistency. The grade is what the endpoint returned, measured against a published reference. A block is written on all four.
The second table is what makes a block worth anything.
| Event | What happens |
|---|---|
| The endpoint grades below the agreed letter on a night | That day's tokens are credited to the buyer at the block price. |
| The endpoint fails to serve the committed throughput, or errors above the reliability threshold | Counts as a below-grade day. |
| The provider changes the endpoint's model revision or declared precision during the term | A dated event on the block record; the next nightly grade decides whether it is a below-grade day. |
| Three consecutive below-grade days | The buyer may end the block; prepaid balance for undelivered tokens is refunded. |
| The buyer cannot use the remainder | The remainder may be assigned to another buyer on notice to the provider; consent is not unreasonably withheld, and the terms set what a replacement buyer must meet. |
| A probe fails or is inconclusive | The day is marked unmeasured: not credited, not counted toward three. Two consecutive unmeasured days trigger a manual probe. |
| The two sides disagree on a night's grade | The raw record for that night, hashed and dated, is the evidence; the published method decides. |
The graded price table: the lowest and median listed price across every endpoint holding a grade, for each model, each night, with the date the prices were read. The first table goes to index partners before it is public. A transaction-based index, with rules for eligible trades, volume and stale observations, is a later stage built with an index firm and needs its own method.
hello@bitdepth.devOne CME contract, referencing Silicon Data's H100 and B200 rental indices. Planned September 2026.
ICE contracts settle on Ornn's Compute Price Index. Nobody takes delivery of hardware; holders settle against a reference price.
Kalshi lists implied future rental prices for B200, H200 and A100, built from traded transactions. July 2026.
A unit, a transaction-based index, settlement against it. GPU hours were fungible from the start. Tokens are not until they are graded. Contracts on a graded token unit are the roadmap, after the first blocks and the first table.
Bitdepth. Measures every night, publishes the method and the floor, never serves inference. Grades are computed by code from a published method, so a letter cannot be bought. The publication policy is the same for every endpoint.
The graded price table first; a transaction-based index later, built with an index firm from the same kind of data that prices GPU hours.
Today, a reserved block between one provider and one buyer. Later, cash-settled contracts referencing the graded index, listed by an exchange.