In this paper, we study the correlation functions of the quantum toroidal $mathfrak{gl}_1$ algebra.The first key properties we establish are similar to those of the correlation functions of quantum affine algebras $U_qmathfrak{n}_+$ as established by Enriquez in (Eneiquez, 2000), while the proof of the remaining key ``vanishing property" relies on a certain ``Master Equality'' of formal series, which constitutes the main technical result of this paper.
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