$VERS — the license

Burn $VERS.
Own an index.

$VERS is the only key to the factory: burn it once and the license is permanent — with 60% of every mint fee on your index flowing back to you, compiled into the splitter, not promised.

01licenses

Two licenses. One burn each.

supply only ever falls — burns are the only mint path

Fixed license

burn 10,000 $VERS

The recipe locks at creation — not even you can change it. You keep 60% of every mint fee on the index, forever, split in contract.

recipe immutable from birth
no rotation, no curator risk
fee share 60% / 40%, hardcoded

Rotating license

burn 25,000 $VERS

Your agent rotates components after a 7-day cooldown, inside a hard 0.5% NAV-drift bound enforced on-chain. Excess gains pay out in USD.

rotation on a 7-day cooldown
NAV drift hard-bounded at 0.5%
excess gains settled in USD

02spec sheet

Every number is a contract constant.

mint fee 0.5%operator share 60%treasury share 40%cooldown 7 daysNAV drift ≤ 0.5%deposit cap $10M staged

03fee split

60 to the operator. 40 to the treasury. In contract.

operator

60%

hardcoded at 6000 bps in the splitter — not configurable, not revocable

treasury

40%

protocol revenue, same transaction, same splitter

every mint pays the same split, in the same call — the splitter has no owner and no parameters

Faucet drips 50k $VERS every 24h.

Testnet funds are free — burn a license, compose an index, keep the fees.

compose an index read the protocol