Tokenomics: $DEPTH
A supply that only goes down.
Draft v0.2 · 5 October 2026 · Pre-launch. No token exists. Nothing here is an offer to sell or a solicitation to buy any asset.
These numbers are the single source of truth for
web/src/config.tsandcontracts/script/DeployGenesis.s.sol. If you change one, change all three.
1. Supply
| Ticker | $DEPTH |
| Total supply | 1,000,000,000, minted once in the token constructor |
| Minting | Impossible. The contract has no mint function and no owner |
| Upgradeability | None. No proxy |
| Direction | Supply can only decrease, through burns that lower totalSupply (not transfers to a dead address) |
| Chain | Base (Ethereum L2), as a transparent ERC-20 with EIP-2612 permit. Not a privacy coin |
2. Allocation
| Allocation | % | Tokens | Contract | Terms |
|---|---|---|---|---|
| Airdrop to real users | 25 | 250,000,000 | MerkleAirdrop |
Wallet-only claim with no email or KYC. Criteria weighted by real usage and sybil-filtered. The snapshot is not announced in advance. 180-day claim window, then anyone can burn what is unclaimed |
| Fixed rewards pool | 25 | 250,000,000 | RewardsPool |
Releases 125M, 62.5M, 31.25M and 15.625M over four 2-year epochs. Pays only for work. After 8 years anyone can burn the remainder |
| Public fair auction | 15 | 150,000,000 | Auction contract (to be built) | One clearing price for everyone, minimum raise or full refund, per-wallet cap. Excludes the US, Argentina, Ontario and sanctioned jurisdictions |
| Protocol-owned liquidity | 10 | 100,000,000 | LP | Paired with auction proceeds. The LP position is burned |
| Founder | 12 | 120,000,000 | DepthVesting |
Nothing for 12 months, then 36 months linear (4 years total). The vesting contract cannot be transferred; the beneficiary is a public multisig Safe |
| Contributors | 3 | 30,000,000 | DepthVesting |
Same schedule as the founder |
| Foundation | 10 | 100,000,000 | DepthVesting |
Linear over 5 years, which caps on-chain spending at 2% of supply per year. Beneficiary is a multisig |
| Venture capital | 0 | 0 | — | None: no private round, no side letters, no refund rights |
| Total | 100 | 1,000,000,000 |
At launch, the airdrop (25%) is claimable, and the launch reserve (25%) sits in a public multisig Safe until the auction and liquidity contracts exist, then goes to them. The founder, contributors and rewards pool hold nothing liquid on day one; the foundation vests linearly from TGE.
3. The burn: fee jar and firepit
- Agent Safe charges 0.1% in USDC on every agent payment and burner top-up, paid on top of the amount.
- An immutable split set in
BudgetVaultFactorysends 50% of that fee to the FeeJar and 50% to operations. - Anyone can claim the whole jar by burning
threshold()$DEPTH in the Firepit. The auction opens at TGE from the 10,000,000 ceiling, so fees collected before launch are not sold for the floor. The FeeJar connects to the Firepit once, through a public 14-day timelock. - The threshold doubles after every claim and halves every 3 days without one. It always stays between 10,000 and 10,000,000 $DEPTH. The
maxThresholdargument protects claimers against front-running.
Why this design
- No swap, so no sandwich on a trade. Claims are still a public race:
maxThresholdcaps what a claimer burns if someone claims first. - No oracle, so nothing to manipulate.
- No admin, so no discretion over when or how much is burned.
- Searchers compete, so the jar is claimed roughly when its USDC is worth the $DEPTH burned.
- It copies Uniswap's 2025 UNIfication mechanism.
Rules
- Allowed fee sources: only Agent Safe, the SDK and (later) private inference. Any future privacy pool has no fee path to the jar or the team (legal separation, ADR-004).
- Revenue only: the jar is never funded from treasury principal or borrowed money.
- Mechanism, not yield: the burn activates on a working network and is never described as a return.
- No extras: no transfer taxes, reflections or rebasing.
4. Unlocks against burns
- At TGE, team, contributors and foundation unlock nothing. The foundation releases about 0.17% of supply per month on-chain. The founder and contributors start after month 12.
- A monthly public report covers burned supply, vested supply, net change, and the balances of every privileged wallet.
5. Rewards
- Paid only from the fixed pool, only for work (keepers, integrations, security), and never more than has vested.
- No emissions and no staking yield.
6. What we will never do
- Mint a single new token. The contract makes this impossible.
- Give anyone better terms than the public.
- Sign a hidden market-maker loan. Any market-making agreement will be published.
- Launch the token before the protocol has real revenue.
- Describe the token as an investment, or promise returns or price.
- Make the token itself private. Privacy lives in the application.
7. Lineage
| Borrowed from | What we copy |
|---|---|
| Hyperliquid | No VC; large airdrop to real users; burn funded by real fees |
| Uniswap UNIfication | Burn-to-claim fee jar (Firepit) |
| Bitcoin | A supply nobody can change |
| Pepe | No owner; liquidity burned |
| Avoided | Failure mode |
|---|---|
| WLD, Aleo, STRK | Low float, high FDV, unlock cliffs |
| JUP | Unlocks outrunning buybacks |
| SafeMoon | "Deflationary" transfer taxes |
| OM | Silent minting, concentrated supply |
| Movement, Nillion | Hidden market-maker deals |
OZ VestingWallet as shipped |
Transferable vesting positions (sold over the counter). Ours are frozen |
Evidence: research/04-tokenomics-models.md and research/03-failures.md.