$IMD. the tamagotchi that became an ai company
"first protocol aiming at a 0-person, community-owned, billion-dollar meme, paid by a token that only shrinks." — the $IMD handbook
figures from onchain sleuthing, the project's own docs, and the dev's own posts, snapshotted 18 sep 2026. contracts at the bottom. disclosure: yes, i hold $IMD.
"the future is renaming tokens, not launching new ones"
adam, march 31 2026
in august 2023 two guys shipped a tamagotchi on base. you fed a pet, it pooped, it died if you ignored it. @surfcoderepeat and @cadu_veloso built it. coinbase wallet amplified it. pranksy played it.
the token went out through a baseswap pool at about $0.80 with a 5,000-token cap per wallet. no presale, no vc round on the token, no team allocation. the game burned tokens as you played it.
april 2024 it peaked around $16.50. somewhere between $115m and $165m.
then it did what everything from that era did. two 90% drawdowns. coinex delisted it. a fork of the game raised $10 million and rugged.
january 2025, adam posts his own scorecard: "net -$200k and over 10k hours invested on fp."
he kept building on the same contract. 14 months later he explained why:
"this achieves same thing short term while u keep gaining long term fans that know you will hit it once maybe."
fren pet became $VIBE in january 2026. $VIBE became $IMD in may. same contract, same supply, same holders who ate both winters.
that decision is also why nobody can find it. your wallet still says fren pet. etherscan's contract name is BridgedFP. base flags it like a scam. dexscreener prices the ethereum leg alone and reports about $10.7m.
the supply is one number spread across three chains. the real cap is roughly double the ethereum-leg print. even the community's own handbook lists all three chains and still quotes the single-chain figure.
"we aren't creating a 'univ4 hook', we are creating a new agentic p2p protocol"
adam, on-chain message, august 17 2026
the hook is how it pays for itself, and it's the cleanest piece of engineering in the whole thing.
the protocol owns its uniswap pool outright. when you sell $IMD, tokens pile into that pool. anything above a ceiling gets pulled out and retired. not sold into the market. removed as liquidity, bridged to base, burned. 85% of every batch, permanently.
the eth that comes out alongside those tokens doesn't go to a treasury. it goes back under the market as one wide standing bid. if price falls into it, the bid buys $IMD, and that $IMD runs through the same 85% burn. a sell-off funds the next buyback. about 25.1 eth is sitting under the price right now doing exactly that.
the ceiling ratchets down every time somebody buys, so the next sell hits a lower one. two guards stop it running away: a hard floor, and a cap on how fast the ratchet can move, which means wash trading can't speed-run the pool to zero.
the other 15% splits three ways. 4.5% streams to stakers, live today. 6% is reserved to buy compute. 4.5% is reserved for the people who will run the network. the last two are accruing on chain and pay out once $IMD reaches $4 and the node program ships. it printed about $3.11 today.
the supply: genesis was 10,000,000. it's 7,103,659 now. 29% is gone, most of it destroyed by three years of a game eating its own token before this engine existed.
no mint function. no emissions. the number only goes down.
"a pepe should be able to describe a financial primitive that doesn't exist yet and watch a supercomputer build it, ship it, fund it, and keep it alive"
@taylor_ , the handbook, september 17 2026
that sentence is the product.
2,000 free-mint nfts, all claimed. holding one plus a claude or codex subscription lets you run a daemon that does work for the protocol. adam, on chain, august 27:
"to help bootstrap the protocol's compute power you'll need an nft, a codex or claude subscription, preferably on a vps."
so operators pay for inference themselves until bonding opens. that's how something with no raise and no treasury funds an ai network from a standing start, and the 6% reserve is built to take the bill over once it's earned enough.
is it working. go look at github.com/Identity-md.
numbered launches, 30 through 48. each is a complete foundry project: a uniswap v4 hook, a token, a machine-readable deployment manifest, an architecture doc with a threat model, validation evidence, an independent review. the self-assessments say things like "this is not total MEV protection" and "nothing here asserts those future steps passed." that is better epistemic hygiene than most funded protocols publish.
launches 45, 46 and 47 all landed on september 18, within three hours of each other. two weeks earlier the pace was one every couple of days.
these are sepolia, not mainnet. it is still an agent pipeline going from a trickle to three an hour, in public, with commit timestamps anyone can check.
what isn't there yet, stated plainly: bonding stays closed until $4. the node payout contract doesn't exist. the explorer shows 1 of 3 agents paired on testnet. one of 2,000 identities has ever been written. the burn tape has been idle mid-month, with recent 24h prints at zero.
"the owner should be a multisig or a timelock"
pool4 docs, section 11
it isn't one, and you need this before anything else in the piece matters to you.
the hook that runs the entire market is unverified. no published source, sixteen days after deploy.
the vault owner can pause and sweep staked $IMD. the hook owner can withdraw the whole pool position in a single call. both powers sit with one wallet, surfsurf.eth, 0x047F…54B7. a plain address. no multisig, no timelock. the pool is the treasury, and that hatch can take it.
the project publishes all of this itself. the docs name both escape hatches, call the protocol an unaudited experiment, and tell you the owner should be a multisig. quantum audited the token in august: medium risk, no critical findings. the hook is the hole.
what the chain shows about the person holding those keys: the wallet is eight years and 254 days old with 2,625 transactions, holds about $827 in tokens on the ethereum side and 0.045 eth, and spent the last week bridging burns and shipping repos. it is not a visible IMD treasury. separately, the project's announcements come from a different address, 0x200E…0fB1, published as on-chain messages rather than a blog.
that's not a guarantee. it's what's readable.
"the final crypto frontier is the creation of 0 persons billion dollar ai agentic meme companies that give upside to ppl"
adam, august 25 2026
that line needs translating, because it's the entire bet and it's badly named.
a "meme company" isn't a joke. it's a company with no legal entity, no employees, no cap table and no investors, where the token is the ownership. "0 persons" means agents do the work. "give upside to ppl" means the value lands on whoever bought the token instead of on a series A.
which is the interesting part. right now there are well-funded teams with phd research staff and nine-figure raises building autonomous agent networks that fund their own compute and ship their own software. that is a real and crowded race.
and one guy who is $200k down on a tamagotchi has built a working version of it, wired to a silly crypto game, where the upside has no cap table to pass through first.
that's the bet. not the burn, not the buy wall, not the $4 gate. the bet is that the thing he set out to build gets finished, and that when it does, it's the same machine everyone else is raising hundreds of millions to build, except you could already own a piece of it.
what you're buying at today's price: a token given away for free in a bear market, that survived two 90% drawdowns and two renames, has destroyed almost a third of itself, has no emissions, no team allocation and no investor treasury, priced at roughly half what the common screen reports. attached to a machine that just started moving, with one escape hatch the docs already admit.
this afternoon adam paid @jackbutcher $12,902.99 in a public auction for a logo.
contracts: token 0xD34a99Bc0f67aE1bbd63C660e6d0b0dd03E263B7 (verified) · hook 0xc6c965bd164c483e87d0b550671798e9a3602840 (unverified) · staked vault 0x9Efa934D9fAd4AE28c998a40195646b965a97247 (verified) · owner surfsurf.eth 0x047F606fD5b2BaA5f5C6c4aB8958E45CB6B054B7 · on-chain messages 0x200E710aCAA6A93bbc77146026328C40F1d60fB1 · terminal imd-terminal.0xfinne.com · handbook imd.rhps.fun · repos github.com/Identity-md