Parameters
Every number the protocol runs on, in one place. "Fixed in code" means the value is written into the contract and cannot change without new contracts. "Fixed at deployment" means it is set when the contract is deployed and cannot change afterwards. "Protected" means the Safe can change it, but only through the 7-day public queue with 5 signatures, 2 of them independent (see Control of money). "Set before launch" means the value is not decided yet; it will be published before the sale opens.
Launch and supply
| Parameter | Value | Note |
|---|---|---|
| Chain | Robinhood Chain (chain 4663) | |
| Capital asset | USDG | Canonical USDG on Robinhood Chain only |
| Launch supply | 4,000,000 SUKUK, exactly | Migration, seats sold, and the launch pool for the rest. Fixed in code |
| Pool opening price | $0.25 | One-sided upward from this price. Fixed in code |
| Launch window | 120 minutes | Toll window; Sukuks, the wall and seat sales start after it. Fixed in code |
| Pool fee and tick spacing | Set before launch | Fixed at deployment; the fee is at most 0.5% |
| SUKUK/TAO opening price | Set before launch | Fixed at deployment |
| Later minting | Sukuk sales and raising fees only | No hard cap on total supply |
Seat sale
| Parameter | Value | Note |
|---|---|---|
| Seats | 500 | Fixed in code |
| Whitelist price | $500 a seat | One seat per whitelisted wallet. Fixed in code |
| Whitelist and auction split | Set before launch | The whitelist can never exceed 500 seats |
| Auction floor price | $500 a seat | Fixed in code |
| Commit window | 72 hours | Fixed at deployment |
| Reveal window | Set before launch | Fixed at deployment |
| Minimum to launch | 250 seats | Whitelist and auction together. Fixed in code |
| Extension | One, about 14 days | Only if fewer than 250 seats sell. Fixed at deployment |
| Draw reveal window | 24 hours | Fixed at deployment |
| Sale dates and launch deadline | Set before launch | Fixed at deployment |
| Proceeds | 80% bid wall, 20% launch budget | Fixed in code |
| SUKUK per seat | 1,000 | Fixed in code |
| Seat SUKUK lock | 48 months from launch | Fixed in code |
| Seat and Agency sale notice | Set before launch | Fixed in code; 30 days in the audited code |
Migration
| Parameter | Value | Note |
|---|---|---|
| NRCH ratio | 1:1 | Fixed |
| NUKEM ratio | 15,642:1 | Fixed |
| Deposit window | Set before launch | Published in advance; closes before the pool opens |
| Maximum migration SUKUK | Set before launch | Published in advance; the claim list can never exceed it |
| Vesting outside the genesis Agency | Nothing until day 120, then 9 equal steps every 30 days to day 360 | Fixed in code |
| Genesis Agency stake | About 2,256,000 SUKUK | Claimed straight into the Agency, locked |
Sukuks
| Parameter | Value | Note |
|---|---|---|
| 3-month tier | 2% discount, 90-day lock | Fixed in code |
| 6-month tier | 4% discount, 180-day lock | Fixed in code |
| 12-month tier | 6% discount, 360-day lock | Fixed in code |
| 24-month tier | 8% discount, 720-day lock | Fixed in code |
| 36-month tier | 10% discount, 1,080-day lock | Fixed in code |
| Reference price | 4-hour average | With a floor that falls at most 1% an hour |
| Markup | None | |
| Price floor | Backing per token | A Sukuk priced below it is refused |
| Breaker threshold | Set before launch | Protected. 30-minute against 4-hour average; 15% in the audited code |
| Issuance cap per hour | Set before launch | Protected |
| Issuance cap per tranche | Set before launch | Protected |
| Minimum Sukuk | Set before launch | Fixed in code; 100 USDG in the audited code |
| Release period | At least 4 weeks | Longer if needed so a full tranche releases at most 5% of supply a week; sized on the tranche's capacity, fixed at purchase |
| Exit fee during the lock | 15% x unserved share of the lock, at least 3.5% | Protected; never above 30% |
| Exit fee after the lock | 3.5% of what is unreleased | Protected |
| Bonus clawback | Bonus x unserved share of the lock | Fixed in code |
| Exit penalty split | 50% burned, 50% to the penalty pool | Fixed in code |
| Insider exit | After the next payment date, once confirmed; within 7 days | Fixed in code |
Prices
| Parameter | Value | Note |
|---|---|---|
| Long average | 4 hours, volume-weighted | Fixed in code |
| Short average | 30 minutes, volume-weighted | Fixed in code |
| Floor on the long average | Falls at most 1% an hour | Fixed in code |
| Smallest second that counts | 1 USDG | Fixed in code |
| Price band for a counted second | Inside the traded range, give or take 1% | Fixed in code |
| Thin half hour | Set before launch | Below this volume the short average reads the last 1,000 USDG traded instead of the half hour; 1,000 USDG in the audited code |
Fees
| Parameter | Value | Note |
|---|---|---|
| Agency fee cap | Lower of 20% and 2 x the Agency's stake share | Fixed in code |
| Agency fee holdback | 30% of each fee | Fixed in code |
| Holdback release | 90 days after a year's receivables settle with no deficit | On revolving vaults; released by the Safe |
| Agency fee change notice | 30 days | Rises apply to new capital only. Fixed in code |
| Agency voluntary close | 90 days' notice | Fixed in code |
| Agency inactivity end | 6 months with no capital | Fixed in code |
| Genesis stake release | 12 monthly portions after the liability tail | Fixed in code |
| Later Agencies' co-investment | Set before later Agencies register | About 5% in USDG, pro rata, not first loss |
| Syndicate raising fee | 1.2% a year of capital raised | Paid in SUKUK at the 4-hour average. Fixed in code |
| Raising fee cliff and vesting | 9 months, then 15 months straight line | Fixed in code |
| Fee budget per tranche | 1.2% x capacity x 4 years | In SUKUK at the 4-hour average when the tranche opens. Fixed in code |
| Fee budget global cap | 10,000,000 SUKUK | Fixed in code |
| Profit split for locked principal | 50% credits, 50% burn | Working split; final ratio set before launch |
| Profit on principal past its lock | 100% burn | Fixed in code |
Buybacks
| Parameter | Value | Note |
|---|---|---|
| Budget | Up to 50% of USDG held, per 30-day period | Spent in daily slices of a thirtieth. Fixed in code |
| Order cap | About $500 | Protected; $500 in the audited code |
| Price ceiling | 4-hour average + 10% | Protected |
| Price impact cap per order | Set before launch | Protected |
| Toll | Exempt | Protected allow-list |
Toll
| Parameter | Value | Note |
|---|---|---|
| Starting toll | 90% | Fixed in code |
| Buy floor and half-life | 3%, 4 minutes | Floor protected, never above 78% |
| Sell floor and half-life | 5%, 8 minutes | Floor protected, never above 78% |
| Straight-line term | 12 points, falling to zero at minute 120 | Fixed in code |
| Demand-cooling window and threshold | Set before launch | Published; fixed at deployment |
| Split in the first 120 minutes | 25% operations, 75% Venture Sleeve | Fixed in code |
| After minute 120 | SUKUK/USDG toll to the Venture Sleeve, SUKUK/TAO toll to the AI Sleeve | |
| Per-trade maximum | Chosen by the trader | The trade fails if the toll is higher |
Wall
| Parameter | Value | Note |
|---|---|---|
| Size | $200,000 by design | Funded by 80% of seat-sale money; top-ups are protected |
| Live from | Minute 120 | Fixed in code |
| Range | 90% down to 45% of backing per token | Always below the live price. Fixed in code |
| Sweep | At least hourly and after large fills | Everything bought is burned |
| Fill size for an immediate sweep | Set before launch | Keeper setting |
| Drift trigger | 10% from the anchor, checked daily | Fixed in code |
| Release re-centre | From 24 hours before to 24 hours after a scheduled release | Fixed in code |
| No-move band | Price inside the range or within 5% above its top | Fixed in code |
| Largest anchor move | 25% per re-centre | Fixed in code |
| Placement guard | Live price no more than 20% below the 30-minute average | Fixed in code |
Guard
| Parameter | Value | Note |
|---|---|---|
| Signers | 9 | Changes are protected |
| Signatures for a protected action | At least 5, including 2 verified independents | Fixed in code |
| Independents seated | At least 4 | Fixed in code |
| Genesis members among signers | At most 2 | Fixed in code |
| Protected delay | 7 days | Fixed in code |
| Delay for modules, guard and fallback handler | 30 days | Fixed in code |
| Execution window | 30 days after the delay | Then the action expires. Fixed in code |
| Freeze | Any 2 signers within 1 hour; lasts 72 hours unless ratified | Fixed in code |
| Wait after a lapsed freeze | 72 hours | Fixed in code |
| Routine payments | 3 of 5 operators, including 1 independent | At least 3 signatures and 1 independent, fixed in code |
| Routine routes and caps | Set before launch | Protected |
| Venue guardian and tranche guardian | Set before launch | Single addresses set by the Safe |
Other
| Parameter | Value | Note |
|---|---|---|
| Zap reclaim delay | Set before launch | After it, anyone can return an unsettled zap order to its owner |
| Vault whitelist and credit limits | Set before launch | Protected; no duPRT vault is on Robinhood Chain yet |