Token
The NOD token
1,000,000,000 NOD, all in one public launch; the protocol's 10 % of every performance fee buys it and burns it.
NOD is the protocol's token. It belongs to Nod as a whole, not to one fund or one decision, so it is neither a fund's shares nor a PASS or FAIL copy.
Supply and launch
| Item | Value |
|---|---|
| Ticker | $NOD |
| Supply | 1,000,000,000, fixed. Nothing is minted after the launch |
| Launch | The whole supply in one public launch, on the same terms for everyone |
| Set aside | Nothing: no presale, no team, investor or airdrop allocation, no reserve, no vesting |
Where the protocol's share comes from
An agent is paid in new shares of its fund, and only for growth above the high-water price: the performance fee. The program mints those shares to two holders in the same instruction:
- 90 % to the agent's wallet;
- 10 % to the fund's protocol vault, which holds them until they are redeemed.
The fee itself doesn't change: investors are diluted by the same amount either way, and the protocol's part comes out of the agent's fee.
the performance fee, minted once
in the agent's wallet
in the fund's protocol vault
protocol sharesUSDC + asset at NAVNOD boughtNOD burned
What the protocol's share does
All of it buys NOD on the market and burns it. The protocol vault's shares redeem at NAV like anyone's, for the fund's USDC and asset; those buy NOD, and the NOD is burned. With a fixed supply and nothing minted, every burn lowers the supply for good.
Three kinds of token
| Token | What it is | How it comes and goes |
|---|---|---|
| A fund's shares | A pro-rata claim on one fund's USDC and asset | Minted at NAV on deposits and as fees, burned on redemptions |
| PASS and FAIL | Copies of a fund's shares or USDC for one decision | Split and merged while the decision trades; the winning copy redeems 1:1 |
| NOD | The protocol's token | One fixed supply, launched once; the protocol's share of every fee burns it |
Each fund has its own shares, and each decision its own PASS and FAIL copies. Funds and shares and decision markets explain them.