🪢Economic Model & the Value-Return Flywheel

A flywheel that starts from a single certainty: real revenue.Trading fees and market-making-related fees, financing/issuance service fees, and any realized value-added gains are recognized—by definition—only when they occur and then credited to the Treasury. There is no “estimated future income,” only booked, measurable, auditable inflows. The Treasury is not a piggy bank; it is a rule-constrained dispatcher that determines when buybacks commence—periodically in some regimes and threshold-triggered in others.

Execution discipline.When guardrails permit, the Buyback Engine executes in tranches out of designated pools—no chasing, no front-running—aiming to operate within defined price bands. Repurchased LOOP is pushed to the Burn Vault for immediate burns or burned after a lock-up window. Every step is recorded.

The second certainty: strong coupling.More usage → more revenue; more revenue (within guardrails) → more frequent and fuller buybacks; more burns → more pronounced net supply contraction, tightening the link between governance rights and economic rights. We do not pre-declare price endpoints. Instead, we shorten the path from value creation → value return → value recognition, turning it into publicly observable common knowledge.