Docs / Economics / $BWA token
$BWA
Fixed supply, minted once. 60% seeds the liquidity pool, 40% is emitted over 20 days, and 0% goes to a team, a presale or a private round. Every fee the protocol takes is spent buying it back.
Supply
| Property | Value |
|---|---|
| Total supply | 1,000,000,000 BWA |
| Decimals | 18 |
| Mintable after deploy | No. The supply is fixed at construction. |
| Contract address | — |
| BWA/BNB pair | — |
The 60 / 40 / 0 split
| Allocation | Share | BWA | Detail |
|---|---|---|---|
| Liquidity | 60% | 600,000,000 | Seeds the BWA/BNB pool on PancakeSwap V2 at deploy |
| Depositor emissions | 20% | 200,000,000 | Over 20 days, on a square root of backing accumulator |
| Acquirer emissions | 20% | 200,000,000 | Over 20 days, as daily pots split by acquisition count |
| Team | 0% | 0 | None |
| Presale | 0% | 0 | None |
| Private round | 0% | 0 | None |
| Total | 100% | 1,000,000,000 | minted once, at construction |
Say it plainly, because the number matters more than the wording: there is no team allocation, no presale and no private round. The only two ways to receive $BWA that has not been bought on the open market are by depositing and by acquiring.
The 20 day emission
400,000,000 BWA is emitted across 20 days, half to each side of the protocol.
| Stream | Total | Per day | Mechanism |
|---|---|---|---|
| Depositors | 200,000,000 | 10,000,000 | Continuous accrual on accTokenPerSqrt |
| Acquirers | 200,000,000 | 10,000,000 | A daily pot, split pro rata by acquisitions |
Depositor emission pauses when the pool is empty. With no active positions there is nobody to accrue to, so the accumulator stops rather than emitting into nothing. The 20 days is 20 days of a pool with something in it.
Acquirer epochs work the other way, because they are measured against the clock rather than against the pool. An epoch that ends with nobody having acquired has a pot that no one can claim, so rolloverEmptyEpoch carries that whole pot, the 10,000,000 base and any buyback top up, into the current epoch instead. Anyone can call it, and an epoch can only be rolled once.
Depositor emissions and the square root accumulator
Depositor emissions accrue on accTokenPerSqrt. A position's claim on the stream is proportional to the square root of its backing rather than to the backing itself.
The reason is concentration. Under a linear accumulator, one wallet with enough BNB takes almost the entire emission and the reward for everyone else rounds toward nothing. The square root flattens that without removing the incentive to deposit more: a larger backing still earns more, just not proportionally more.
| # | Backing (BNB) | sqrt(backing) | Emission share | Share if linear |
|---|---|---|---|---|
| 1 | 0.36 | 0.6 | 8.82% | 2.43% |
| 2 | 1.44 | 1.2 | 17.65% | 9.73% |
| 3 | 4.00 | 2.0 | 29.41% | 27.03% |
| 4 | 9.00 | 3.0 | 44.12% | 60.81% |
| Total | 14.80 | 6.8 | 100.00% | 100.00% |
Position 4 has 25 times the backing of position 1. Under a linear accumulator it would take 60.81% of the stream against 2.43%. On the square root it takes 44.12% against 8.82%, so the smallest depositor's share is more than three times what it would otherwise be, and the largest still earns the most.
Quadrupling a backing doubles its emission share. That is the whole property in one sentence.
Acquirer emissions and epoch pots
The acquirer half arrives as a pot per day rather than a continuous stream, divided among the wallets that acquired during that day, in proportion to how many acquisitions each made.
epochPot the day's pot walletAcquisitions the wallet's successful acquisitions that day epochAcquisitions all successful acquisitions that day
Only successful acquisitions count. A request that was refunded because the pool emptied, because the price drifted outside its bounds, or because it expired did not acquire anything and does not earn from the pot.
| Wallet | Acquisitions | Share of epoch | BWA from a 10,000,000 pot |
|---|---|---|---|
| A | 3 | 7.50% | 750,000 |
| B | 12 | 30.00% | 3,000,000 |
| C | 25 | 62.50% | 6,250,000 |
| Epoch | 40 | 100.00% | 10,000,000 |
A share is a share of that day only. A quiet day with few acquisitions splits the same pot among fewer wallets, so each of them takes more of it.
The buyback
Protocol fees do not accumulate as BNB. protocolFeeToTokenBps is 10000, so all of them are spent buying $BWA on the open market. Two calls do it, and anyone can send either.
- payoutFees()
Sweeps 100% of accrued protocol fees into the buyback reserve. No permission, no keeper, no schedule.
- buyback()
Spends up to 1 BNB from the reserve through PancakeSwap V2. The caller keeps 0.5% of the BNB as payment for sending the transaction. The rest is swapped for $BWA.
The 1 BNB per call cap keeps any single swap small against the pair, so a large accrued balance is spent across many calls rather than in one trade. The 0.5% incentive is why those calls get made by strangers.
What the bought tokens do, 40 / 30 / 30
| Share | Destination | Effect |
|---|---|---|
| 40% | Acquirer reward epochs | Tops up the daily pots, so acquiring keeps paying after the 20 day emission ends |
| 30% | Depositor accumulator | Added to the depositor stream. Burned if there are no active depositors, rather than held. |
| 30% | Burned | Permanently removed from supply |
| Line | Amount | Rule |
|---|---|---|
| BNB spent by the call | 1.000 BNB | The per call cap |
| To the caller | 0.005 BNB | 50 bps incentive |
| Swapped on PancakeSwap V2 | 0.995 BNB | The remainder |
| $BWA received | — | Depends on the pair at the time of the swap |
Taking a round 1,000,000 BWA as the amount a swap returns, purely to show the division: 400,000 to acquirer epochs, 300,000 to the depositor accumulator, 300,000 burned. The three parts sum to the whole, and 30% of every buyback leaves the supply for good.
The 5% trading fee
$BWA charges 500 bps on buys and sells against the pair, sent to the marketing wallet. It is a token level fee and is separate from the protocol fees on the fees page.
Addresses
Filled in once the contracts are live. Nothing on this page is read from chain yet.
- $BWA token
- —
- BWA/BNB pair
- —
- Marketing wallet
- —
- Burn total
- —
Nothing deployed yet
Token holdings, buyback history and burn totals appear here once the contracts are live on BNB Smart Chain.