Monolith is an AI sculpture that functions as a permissionless prompt machine. It consists of 24 words that can be updated by anyone, creating a collaborative, evolving prompt that generates unique AI imagery.

The system operates through two main smart contracts: the MonolithPrompt contract where users can purchase and update words, and the MonolithCollection contract which mints ERC1155 tokens representing editions generated from completed prompts.

As the prompt changes, new AI-generated artworks (editions) are created, documenting the evolution of this collective sculpture.

Anyone can update any word in the Monolith prompt by purchasing it for the current price. The word update process follows these rules:

• Words must contain only letters (A-Z, a-z)
• Maximum length is 24 characters
• Each word starts at a price of 0.00001 ETH
• Price increases by 25% after each purchase
• When all 24 words are filled, a new edition is created

The ownership of words is tracked on-chain, with the current owner receiving payment when someone else purchases their word. This creates a dynamic marketplace where strategic word selection can be valuable.

Monolith employs a unique economic model that incentivizes participation and rewards contributors:

When a word is updated, the previous owner receives a percentage of the payment. The fee retained starts at 15% and decreases by 5% for every 10 updates to that word, with a minimum fee of 5%. This declining fee structure rewards long-term word owners while keeping the system sustainable.

The price of each word increases by 25% with each purchase, creating a gradual value appreciation mechanism. This ensures that words become more valuable over time while keeping the entry barrier relatively accessible for new participants. Simultaneously, the fee retained by the system diminishes over time - starting at 15% and decreasing by 5% for every 10 updates to a specific word (until reaching the minimum of 5%). This mechanism incentivizes ongoing word updates while increasing returns for previous word owners as update frequency grows.

When you purchase a word, you become its owner until someone else buys it from you. This ownership confers benefits including receiving payment when your word is purchased and getting airdrops of new editions.

Editions are ERC1155 tokens created when all 24 words in the Monolith prompt are filled. Each edition represents a unique snapshot of the 24-word prompt at a specific point in time, with AI-generated artwork created from those words.

Each edition has the following characteristics:

• A unique token ID in the MonolithCollection contract
• On-chain metadata including all 24 words as traits
• A 24-hour sale period during which anyone can purchase tokens
• Dynamic image generation based on the prompt words

The system maintains a queue of editions, ensuring that only one edition is active for sale at any given time. When a new edition is created, it enters this queue, and the sale begins after any previous editions have completed their sales periods. Importantly, if a new edition is created while another edition's sale is still active, the previous edition's sale is automatically cancelled and the new edition becomes the active one. This ensures that collectors always have access to the most recent Monolith creation.

When an edition is created (all 24 words are filled), the system automatically:

• Airdrops tokens to all current word owners, with each contributor receiving tokens in proportion to how many words they own
• Makes the new edition available for purchase at a fixed price of 0.003 ETH
• Starts a 24-hour sale period during which anyone can purchase tokens

Revenue from token sales is distributed equally among all contributors (word owners) and the author protocol. When you purchase tokens from an edition, the payment is split into equal shares, with each contributor and the author protocol receiving one share.

Contributors can claim their accumulated rewards at any time by calling the claimRewards function on the MonolithCollection contract.

The system maintains a queue for editions, ensuring there's always a clear path for collectors to purchase the latest Monolith artwork.