The platform token

TerminalPad will have its own token. It will not be a governance token and it will not entitle you to a stream of payments. It will have one mechanism, and the mechanism is that supply only ever goes down.

There is no platform token yet, and its name is not chosen. On NEAR, neither the token nor its buyback contract exists yet — the buyback contract has not been written for NEAR. When they are deployed, their account ids are published in the box underneath — nowhere else.

Accounts on NEAR Platform token: TOKEN_ACCOUNT_TBD Buyback contract: BUYBACK_ACCOUNT_TBD Until both lines above carry a real account id, treat any account you are handed as unverified — including one that looks official.

Two engines, one direction

Every token the protocol buys or receives is burned — removed from the supply. Not most of it, not a share held back as depth — all of it. Two flows feed that burn, and they are independent of each other.

1. The protocol's share of every trade on the platform. Every coin on TerminalPad charges 1% per swap; after Rhea's 20%, the protocol's 30% of the rest is 0.24% of the trade. Every coin, whatever its underlying, whichever way its own bet goes, buying or selling. Once the token exists, the dollar side of that share — USDC, or a tracker redeemed for USDC at its vault — is meant to be forwarded to the buyback contract, which spends it on the token and burns what it bought. Until then, the protocol's share simply accrues to the protocol treasury, which is fixed in the launchpad.

2. The token's own trading. If the token trades on a venue that pays its creator a fee on every swap, the protocol is that creator, and every claim is forwarded to the buyback contract: fees paid in the token are burned as they are, fees paid in USDC are spent on the token. The token then pays for its own burn every time it changes hands.

The first flow scales with the platform. The second scales with the token. Neither depends on the other, and neither depends on anyone choosing to be generous.

The rules it launches under

Where the token launches is not decided yet. Whatever the venue, the token is held to the same rules as every coin on TerminalPad: a fixed supply, no admin, no transfer tax, no pause, no upgrade, and its whole float in a pool no one can withdraw — a Rhea DCL pool on NEAR, quoted in USDC, reachable by any router, bot or aggregator.

The buyback contract

The buying and the burning are to be done by one small contract, and its shape is the whole guarantee. This is the design the Avalanche version was built to, and the one a NEAR version will be held to; the NEAR contract does not exist yet, so none of this can be checked on chain today.

• Nothing can leave it except as burned token. No withdraw, no rescue, no sweep — not for the owner, not for anyone. The only transfers it ever makes are USDC paid into the token's pool to settle a buy, and the token burned.
• Funding is open. Anyone can send it USDC or the token; the launchpad's protocol share and any claimed creator fees land there. It deals in exactly two tokens, USDC and the platform token; anything else sent to it can never leave, so send nothing else.
• Buying takes a floor. A buy spends USDC held by the contract on the token, in the token's own USDC pool, and fails unless it returns at least the floor the caller set. Because a floor a stranger picks is a floor a sandwich bot picks, executing a buy is limited to the protocol's executor keys. Burning tokens that are already there needs no judgement, so the burn is open to everyone.
• The owner can set who may execute and which pool it buys through — and the pool must pair exactly the token with USDC, so a pool change can only send the same dollars through a different token/USDC pool, never somewhere else.

What the token is not

It carries no governance rights, no claim on protocol revenue you can exercise, and no redemption. The treasury's share reaches holders by removing supply from the market, not by paying anything out.

It is also not backed. Coins launched on TerminalPad bond onto a leveraged tracker and acquire a floor; the platform token does not. Its value is what the market says it is, against a supply that only shrinks.

Reading it yourself

Nothing here will ask to be taken on trust. On NEAR a burn is a fall in the token's total supply, read on the chain:

TOKEN.ft_total_supply()          → what is left; every burn lowers it

and the buyback contract's own counters of what it spent and burned will be listed here once it exists. Once the accounts above are set, the live figures are on the metrics page, read straight off the chain rather than from an indexer.

The flow that will fund the buying is public already, for any coin:

launchpad.protocol_fees_of(token)    → the protocol's unclaimed share, per token
launchpad.config().treasury          → where claim_protocol_fees sends it

claim_protocol_fees(token) — callable by anyone — pushes that share to the treasury account fixed when the launchpad was deployed. It cannot be redirected — not by us, not by anyone. The creator's share is the constant CREATOR_SHARE_BPS = 7000 in the launchpad's code, so the protocol takes the other 30%.