Economics
All amounts are
USDC with 6 decimals. Launch constants are fixed once by initialize and cannot change.
| Constant | Meaning |
|---|---|
epoch_seconds | Length of one epoch; at least 3,600 seconds on mainnet |
rate | Price of one epoch of membership |
limit | Request slots each member may spend per epoch |
max_epochs | Longest membership one deposit can buy |
exit_delay | Full epochs an exiting member waits before withdrawing (the slashing window) |
burn_bps | Share of every paid epoch sent to the burn vault |
slash_burn_bps | Share of a forfeited balance sent to the burn vault; the rest goes to the treasury |
Where a deposit goes
deposit = rate x epochs
each epoch reached -> rate x (1 - burn_bps / 10000) to the treasury
-> rate x burn_bps / 10000 to the burn vault
epochs never reached -> refunded on withdraw
slashed member -> unpaid epochs forfeited: slash_burn_bps to burn, rest to treasury
The burn
crank_burn(amount) can be called by anyone. It spends amount of the burn vault's
USDC buying the PARANOID token in its
Raydium CP-Swap
USDC pool and burns every token bought. Before launch the token does not exist; set_burn_target sets the mint and the pool once.
The numbers on the landing page (token burned,
USDC spent buying it, share of supply removed) come from Config.token_burned, Config.burn_spent and the mint's supply. Before launch they are zero.