PUT token¶
PUT is the form in which the Money Pool receives its premium during launch. It accrues by share-time, is finalized at each settlement and unlocks on a fixed schedule.
Fixed supply¶
1,000,000,000 PUT
Minted once at genesis. There is no mint authority afterwards. PUT that is burned is gone for good and never re-enters any allocation.
Allocation¶
| Category | Share | Amount | Rule |
|---|---|---|---|
| Team | 28% | 280,000,000 PUT | Zero unlock for 12 months after TGE, then 36 monthly unlocks from month 13 through month 48 |
| Ecosystem Fund | 18% | 180,000,000 PUT | Total confirmed. Use and release schedule to be decided; not counted as circulating until released |
| Remaining Allocation Reserve | 54% | 540,000,000 PUT | Not split further. Cold-start Money Pool rewards are authorized from here |
The TGE date has not been set. The team unlock clock starts at TGE.
Cold start¶
The cold start runs as eight consecutive weekly epochs of seven days each.
- Epoch 1 has an authorized budget cap of 10,000,000 PUT, 1% of supply, drawn from the Remaining Allocation Reserve.
- That figure is a cap, not a promise. No PUT is emitted while the Money Pool is empty.
- Budgets for epochs 2 to 8 adjust to actual USDG deposits. The exact adjustment rule has not been decided; once it is, each epoch's budget will be published before the epoch starts.
Who earns PUT¶
- Money Pool: earns PUT by USDG share-time.
- Asset Pool: neither pays nor earns PUT during launch.
Reward unlock¶
| When | Unlocks | Cumulative |
|---|---|---|
| Settlement | 30% | 30% |
| Day 30 | 17.5% | 47.5% |
| Day 60 | 17.5% | 65% |
| Day 90 | 17.5% | 82.5% |
| Day 120 | 17.5% | 100% |
Each day's reward has its own schedule counted from that day's settlement. Claiming never changes it.
Buyback and burn¶
Settlement fees collected in USDG are dedicated to buying PUT and burning it. See Fees, treasury and burn.
Nothing on this page is a promise of PUT value.