The token
- Launched on
- Pons, on Robinhood Chain; it trades on Uniswap
- Used for
- Deposits to list markets. Bought back and burned with the platform's fees.
Anyone can list a market from a template by locking a deposit in the token. The team lists its own markets with no deposit.
The flywheel
- People betTraders back KOLs with ETH on markets the team and creators list.
- Every bet pays 3%The fee is held until the market settles; a voided market refunds it.
- Fees buy the token80% of the platform's share is spent buying the token on the market.
- Bought tokens burnEvery token bought back goes straight to the dead address.
- Creators lock itListing a market takes a token deposit, so more markets mean more demand.
Two things move the loop. The platform spends most of what it earns on buying the token, and anyone who wants to list a market has to hold some. Neither depends on the token's price: the buyback runs on fees from betting, whatever the token trades at.
What it does
Deposit to list a market
Creating a market locks a deposit in the token. It comes back once the market settles with enough bets, and is burned if it doesn't. The rules are under creator deposits.
Bought back and burned
The platform's share of every fee, and half of the token's trading fees on Pons, buy the token on the market and burn it.
What it doesn't do
You don't need it to bet: bets are in ETH. It doesn't change odds or payouts.
Fees
Every bet pays a 3% fee. When the market settles, the fee splits by who listed it.
A market a user listed, that reached its minimum volume
- Creator
- 30% of the fee
- 0.90% of bets
- Token buyback and burn
- 56% of the fee
- 1.68% of bets
- Team
- 14% of the fee
- 0.42% of bets
A team market, or a user market below its minimum volume
- Token buyback and burn
- 80% of the fee
- 2.40% of bets
- Team
- 20% of the fee
- 0.60% of bets
The token's trading fees on Pons (the creator fees Kolshi earns as its launcher)
- Token buyback and burn
- 50%
- Team
- 50%
Platform share = fee − creator share; then 80% buys back and burns the token, 20% goes to the team
A voided market refunds every bet in full, fee included, so nothing is split. The fee is fixed per market when it is listed; the team can change it for new markets, up to 5%.
Buyback and burn
- The platform's share of every settled market goes to the fee splitter, a contract that keeps the buyback money and the team's money in separate accounts.
- The splitter also receives the token's creator fees from Pons and splits them half and half.
- Every 15 minutes, when there is something to spend, it buys the token through Uniswap (on its Pons curve, before the token graduated).
- Everything it buys goes to the dead address, 0x000000000000000000000000000000000000dEaD. The contract checks the tokens arrived there on every buyback, so the buyback money can't leave any other way.
- Creator fees Pons pays in the token itself are burned the same way.
Creator deposits
- Comes back
- The market settles with at least its minimum volume of bets (0.5 ETH at launch), or the team voids it for a reason that isn't the creator's, or nobody resolves it in 7 days.
- Burned
- The market settles below its minimum volume, nobody backed the winner, or the team voids it as invalid (a made-up or malformed trader). The reason is written on-chain.
- Amount
- Shown on the create page before you confirm.
Creators earn 30% of their market's fee in ETH once it reaches its minimum volume, and claim it from their portfolio.
Contracts
- Network
- Robinhood Chain
- Fee splitter
- 0x4DFEd25c88802b6B6CEEf482a1dB15868D8b1Ae8
- Burn address
- 0x000000000000000000000000000000000000dEaD