GM 🤝
One of our based TG members asked a legit question (see the full question in the snippet) the other day: is robinhood:0x0500a1a597a631cec9637767f7b75c5b5d0c1db4 just the emission token that gets dumped every epoch?
Here's why the answer is "no", and why none of this is hidden🫡 ⬇️
Most tokens have one flow: emissions out. TL;DR: holders get diluted, chart bleeds.
Now, SLEUTH is built differently.
THE SUPPLY SIDE (what most of the people are focused on)
🔵 the swarm gets paid each epoch in SLEUTH. Obviously, some users will sell their tokens. Some won't. That's the part we don't control.
THE BUY SIDE
🔵every subscription is paid in SLEUTH. In other words, every paying user is a buyer, every month.
🔵 25% of ALL platform revenue buys SLEUTH on the open market, every single month, at TWAP.
🔵 the platform never ever sells a token it earns.
🔵 buying scales with usage; it's demand from real revenue.
THE SINK
Every token those buybacks scoop, plus 25% of every subscription, goes out of circulation for 2 years. It doesn't come back and hit the market next week. It waits, then it pays the swarm.
Now, we did the quick maff (and the complex one as well) so you don't have to:
The full supply (1B tokens) is NEVER all in circulation. The swarm wallet unlocks just 1/24th (~1.04% of supply) a month, and the key part is this: it only pays out against real graded work.
Slow month? The unspent tokens stay locked in the wallet (visible on-chain) instead of flooding the market. It's a payroll you only get if you work for it. There's no cliff at the end, when the unlock finishes, the buybacks step in and keep the payments going.
EXTRA QUICK MAFF:
Tiers are priced in USD. So if the SLEUTH price dips, holders have to buy more to defend/keep their tier, meaning, buy pressure exactly when the market's thin.
Contributor's wages aren't distributed all at once (so no instadump). Instead, their payments are vested over 3 months, so they're holding SLEUTH the whole time, aligned with the price the entire time they're getting paid. And if the stars align, then their payments *could* potentially come with a multiplier as time goes on.
So, if thousands of holders each defend their own tier, they basically protec the floor as well.
TL;DR: emissions on one side, and on the other, revenue buybacks + subscription demand + a 2-year sink + tier-defense buying - a supply that's actually never fully liquid.
That's the value accrual. Nothing hidden, it's all in Section 14 of the whitepaper.
P.S. we hope you're getting ready for bullish news.