Tokenomics
NAKA has no team allocation, no presale, no airdrop, no advisor unlocks, and no treasury. 100% of the supply is minted through one bonding curve, and 0.30% of every trade is burned to 0xdEaD.
Parameters
| Parameter | Value | Meaning |
|---|---|---|
K | 21,000,000 | Asymptotic supply cap |
S | 100 | Curve steepness (lower S = faster discovery) |
| Fee | 30 bps (0.30%) | On every buy and every sell |
| Per-buy cap | 5 ETH | Anti-whale single-tx limit |
| Min trade | 1 gwei | Below this the curve math underflows |
| Self-deprecation | 99% of K | Permanently disables minting |
Core Equations
| Quantity | Expression |
|---|---|
| Marginal price | p(eth) = (S / K) · exp(eth / S) |
| Cumulative minted | minted(eth) = K · (1 − exp(−eth / S)) |
| Inverse | eth(m) = −S · ln(1 − m/K) |
eth is the cumulative net ETH ever paid into the curve, accounting for all buys and all sells. It is a state variable on the hook contract, not a snapshot.
Issuance Milestones
| Supply Minted | ETH Required |
|---|---|
| 50% of K | 100 · ln 2 ≈ 69.3 ETH |
| 90% of K | 100 · ln 10 ≈ 230.3 ETH |
| 99% of K | 100 · ln 100 ≈ 460.5 ETH |
| 99.9% of K | 100 · ln 1000 ≈ 690.8 ETH |
Fee Mechanics
The 30 bps fee is taken in token-space, not ETH-space. On a buy:
- Total tokens minted by the curve are computed first
- 30 bps of those tokens are sent to
0xdEaD(permanent burn) - The remaining 99.70% goes to the buyer
On a sell, the same logic applies in reverse. The result is that every trade reduces total existing supply by 30 bps of the tokens that pass through it. Reserves do not extract a fee. They only ever hold ETH paid in by buyers, less ETH paid out to sellers.
What This Means
- Floor only goes up: as supply burns and reserves stay attached, the reserve-backed floor (
reserves / existing supply) is monotonically non-decreasing under normal operation. - No diluting events: there is no token issued outside the curve. Every NAKA in existence cost real ETH at curve rates.
- No fee accrual to anyone: the fee burns. There is no team treasury, no liquidity-mining program, no claim flow.