Utility / in progress
Currently: hitting it until it fits.
Commission a cat.
Take a cut.
The words on this page
These are ours on purpose. A commissioned cat is not in a standard ERC-721 state, and calling it "staked" would hide the part that matters, which is that nothing is held on your behalf and there is no way back.
- Cat
- One of the 4,444. Always in exactly one of two states, never both and never neither.
- Decommissioned
- The state every cat starts in. It trades freely and it earns nothing at all. Most of the floor is like this.
- Commissioned
- BCAT has been burned into it. It cannot go back, and it takes a share of everything the fees buy from that block onward.
- Cap
- The most load one cat can ever hold. Set by its tier, doubled by a complete rig, and it never resets.
- Load
- How much a commissioned cat carries. Burning adds load. Load decides your share and never decays.
- The cap
- The most load one cat can ever take. The reason to own more than one, and the reason a rig is worth building.
- Rig
- CPU, motherboard, PSU, RAM and GPU in one wallet. Raises the cap on all five. There can only ever be 124.
- Treasury
- One sixth of the fee, for marketing, listings and building things. The only cut the project takes, and it is on this page.
- Payroll
- The ETH the fees buy, split across commissioned cats by load. It waits in the vault until somebody claims it.
- The vault
- The NFT contract itself. It holds the payroll and the load ledger, and it can only ever pay a claiming owner.
How it works
Hold a cat
A decommissioned cat earns nothing. Owning one is the ticket, not the reward, and most of the floor will stay this way.
Commission it
Burn BCAT into the cat. It goes to the dead address in the same transaction and gives the cat load. Burned, not staked: no escrow, no unbonding, no way back.
The payroll builds
Every BCAT buy and sell pays a fee. Part of it buys ETH into the vault and splits it across commissioned cats by load.
Claim it
Press a button on this site and the contract pays what your cat has collected straight to your wallet. Whenever you like — it keeps accruing either way.
The whole thing, in one picture
One stream feeds the vault: the 1.35% of every token trade. Cat sales pay a royalty that never reaches the vault either — it buys cats off the floor and retires them. The dashed line is an incentive rather than a payment: burning sends you nothing, it decides how the ETH already in the vault gets divided.
Where every basis point goes
There is no pool being emptied here. What holders receive is a cut of trading that already happened, so it cannot run out and it cannot dilute anybody. In a week with no trading, nothing is paid. That is the ordinary downside of this design, not an edge case.
| On every buy and every sell | Rate | Goes to |
|---|---|---|
| Pons base fee | 1.00% | the launchpad |
| Creator tax, set at launch | 2.00% | the router |
| Total charged | 3.00% | — |
| Kept by Pons | 0.30% | the launchpad |
| Reaches the router | 2.70% | split three ways, below |
| — buys ETH for commissioned cats (one half) | 1.35% | the vault |
| — buys BCAT and burns it (one third) | 0.90% | 0x…dEaD |
| — treasury (one sixth) | 0.45% | marketing and ops |
| Royalty on every cat sold | 5.00% | sweeps the floor |
The royalty does not pay holders. It buys cats. Every royalty received goes back into the collection, sweeping the cheapest cats off the floor, and every cat swept is sent somewhere it can never be sold again. 4,444 becomes a ceiling rather than a fixed number — it can only fall.
Why swept cats are locked, not held
A project that sweeps and keeps ends up owning a growing share of its own collection,
and everybody knows those cats could return to the market one day. That overhang props
the floor only for as long as people trust us not to sell, which is exactly the kind of
promise this whole design tries to avoid needing.
Sending them somewhere they cannot come back removes the question. The supply genuinely
falls, anyone can verify it, and no discretion is left to distrust.
It is also slow, and the page should say so. A 5% royalty buys back 5% of the
volume it was charged on, by definition. At a fifth of the collection changing hands in
a year that is roughly 130 cats — about 3%. Real, but not a lever anyone can pull
for a quick effect, and it gets slower as it works, because a thinner floor costs more
per cat.
The 3% and the 2.70% are different numbers and this page will not merge them. The creator tax is an argument given to Pons at launch and written in permanently: neither we nor anyone else can change it afterwards.
Why 3% and not 2%
A 2% fee left nothing to run the project on, and a project nobody is working on is
worth less than the fee saved. At 3%, holders take 1.35% of volume instead of
0.85% — 59% more per dollar traded — and the treasury takes 0.45%.
A higher fee does suppress trading, and trading is what pays everyone, so the honest
way to read this is as a break-even: volume would have to fall by more than
37% before holders were worse off than they would have been at 2%. Below that,
everybody is ahead. That is the bet, and it is on this page rather than in a
spreadsheet nobody sees.
Load, and the cap
Your share is a
fraction, not a rate.
share = your load ÷ all load. Burning raises the top of that fraction. Everybody else burning raises the bottom.
A cat that stops being commissioned keeps every unit of load it has and still loses share, because other cats keep being commissioned. Nobody took anything from you. The denominator grew.
Each cat can only ever take so much load, and that cap is the entire reason to own more than one. Without it, one cat commissioned twice would equal two cats commissioned once, and a second cat would buy you nothing. With it, your ceiling is one cap for every cat you hold.
One per cat
Lifetime, keyed to the token. Load never decays and never resets. A full cat is full forever and keeps earning on what it has.
Raises the ceiling
CPU, motherboard, PSU, RAM and GPU in one wallet lifts the cap on all five cats. There are 124 motherboards, so there can only ever be 124 rigs.
Both travel
Load and any unclaimed ETH belong to the token, never to the wallet. Sell a cat and you sell both. Claim before you list if you want the ETH.
What it looks like, step by step
It is in your wallet. It earns nothing and always will, until you do something about it. Owning a cat is the ticket, not the reward.
That is a Common's cap. You could buy less and top up later; you cannot go past it. The cap is set by the cat's tier and never changes.
Two transactions the first time, one every time after. The contract takes the BCAT and sends it to the dead address in the same transaction. It is gone. Your cat never moves and stays sellable throughout.
From that block on it takes a share of every fee: its load divided by all load in the collection. If a hundred Commons are full and nobody else, that is one hundredth of everything.
Nothing is sent to you and nothing needs collecting on a schedule. The contract records what #1234 is owed, and it grows every time anyone trades.
The ETH goes to whoever owns #1234 at that moment. Waiting costs nothing. Sell the cat before claiming and the buyer gets the pending ETH along with the load, because both belong to the token rather than to you.
The only irreversible step is 03. Everything after it is bookkeeping the contract does on its own.
How much a cat can hold, what a share works out to, and the arithmetic behind both are set out in full on the docs page.
The question everyone asks first
Is this just
staking?
No, and the difference is the whole design. Staking means a position you can unwind: you lock something, you wait, you take it back. There is no lock here and nothing to take back.
Commissioning destroys the BCAT. It goes to the dead address in the same transaction. No contract is holding it for you, there is no unbonding period, and no function anywhere can return it. What you keep is the cat and its claim on every fee from that block onward.
That is worse than staking in one obvious way and better in several others. Worse: the cost is real and permanent. Better: nothing has custody of your cat, so nothing can lose it; nobody can pause withdrawals, because there are none; and the set of earners only ever grows, which is why the number on the record page moves in one direction.
The three contracts
The router is the fee recipient. The NFT is the vault. They are different addresses doing different jobs, and confusing the two is the easiest mistake to make about this system. None of them are deployed yet.
BinaryCats
- Holds the 4,444, the load ledger, and the ETH
- Takes burns and raises a cat's load
- Pays a claim to whoever owns the token
- Cannot move ETH anywhere except to a claiming owner
FeeRouter
- Registered with Pons at launch as the creator-fee address
- Splits what arrives and buys ETH into the vault
- Cannot hold ETH between calls
- Cannot be replaced after launch, by us or anyone
Burner
- Buys BCAT with the other half
- Sends it to 0x…dEaD, which is a dead end
- Holds nothing between calls
- Has no owner
Every address will be published here the day it exists, and nowhere before. Anyone sending you one ahead of that is not us.
None of this is live yet. The order it happens in, and what has to be true before each step, is on the roadmap.
What can go wrong