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There are three different things you can hold here, and they are not the same proposition. The collection, activation and the token are connected, but each one gets something different — and one of them gets nothing at all from the others.

Three different things to want

Holding $AGNTS pays you nothing. Distributions go to activated pieces, not to token holders. Buying the token is not buying a claim on the protocol’s revenue, and nothing on this page should be read as saying otherwise.

Where the money comes from

The pool that activated pieces share is funded by fees the protocol actually collects. Most of that comes from the launchpad. Projects launch there because it is the path of least resistance: you tell your agent to launch a token, and it deploys on Base, Robinhood Chain or Solana without you touching a contract. The first launch is free, the next costs a dollar, and the creator keeps the majority share of the trading fee on their own token, claimable at any time. The protocol’s cut is the smaller slice, and it is that slice which funds everything below.

Where it goes

70% to activated pieces. 30% to the treasury. Paid in USDG, split by weight, one 30-day season at a time — see Rewards. Token holders are not in that split. The 1.095% taken on $AGNTS trades goes 100% to the protocol and none of it enters the pool. Holding the token pays you nothing.
Season 0 is live: 11,000 USDG, Oct 5 → Nov 4, paid out of the fees holders earned before it launched. Fees from Oct 5 on build Season 1.

Where $AGNTS is required

Exactly two places, and both of them are things you do, not things you hold:
  1. Activating a piece — 100,000 $AGNTS, the same for every tier. Half is burned, half goes to treasury. Plus 10% of the piece’s floor in ETH, which does scale with tier.
  2. Buying a piece out of the vault — the swap amount for that tier, plus the vault fee.
The token is what you spend to use the collection.

What keeps it going after the first wave

Three things recur, and all three are driven by churn rather than by growth:
  • Activation does not survive a sale. Sell an activated piece and it switches off. The buyer starts from scratch. Every time a piece changes hands, activating it is a fresh cost.
  • Activation does not survive a burn. Climbing the ladder destroys the pieces you burned, along with their activation. The piece you draw comes back switched off.
  • Half of every activation is burned, so the supply falls as the collection is used.
Every sale and every climb puts a piece back on the table. The collection is 5,220 today, down from 6,969 minted, and it only gets smaller.

Open questions

Where each one stands:
AGNTS are collectibles. Activation is a mechanic within the collection, not an investment, and nothing on this page should be read as a return, a yield, or a promise of any payment.