> For the complete documentation index, see [llms.txt](https://docs.tapir.money/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.tapir.money/tokenomics.md).

# Planned Tokenomics

Tapir's proposed TPR token allocation, governance, and fee-use policies remain subject to implementation. Token allocations do not establish a live token price or a claimable balance. The separate [Incentives](/incentives.md) section explains participation rewards, and the [full points and liquidity incentive specification](/resources/points-program.md) preserves all formulas, calculations, and program rules.

The [Core V1 repository](https://github.com/tapir-protocol/public-tapir-core-v1) implements DP/YB pools, oracles, the factory, and router. It does not implement the TPR token, a DAO, a points distributor, or a buyback-and-burn contract. Its pool fees are swept to the configured treasury; current contract permissions are described in the [access-control reference](https://github.com/tapir-protocol/public-tapir-core-v1/blob/main/docs/tapir_access_control.md).

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### Proposed TPR Token Overview

| **Token Name**   | Tapir Protocol Token          |
| ---------------- | ----------------------------- |
| **Ticker**       | TPR                           |
| **Total Supply** | 1,000,000,000 TPR             |
| **Token Type**   | ERC-20 (Governance & Utility) |

TPR is intended as a governance and incentive token. The proposal includes using part of protocol revenue for buybacks and burns; this is separate from the implemented Core V1 contracts.

{% hint style="info" %}
No TPR deployment or Token Generation Event (TGE) is established by the Core V1 source. Confirm any launch and eligibility rules through Tapir's official channels. The points specification sets 1 finalized point = 1 TPR; raw and provisional points are not finalized entitlements. Points have no assured cash value, and token access remains subject to launch, finalization, and unlock conditions.
{% endhint %}

***

### Proposed Token Distribution

| **Allocation**         | **Share** | **Tokens**  | **Cliff**                              | **Vesting**                                  | **TGE Unlock**                   |
| ---------------------- | --------- | ----------- | -------------------------------------- | -------------------------------------------- | -------------------------------- |
| Pre-Seed               | 8%        | 80,000,000  | 5 months                               | 12-month linear                              | 10%                              |
| Seed                   | 10%       | 100,000,000 | 5 months                               | 16-month linear                              | 8%                               |
| Public Sale / Series A | 10%       | 100,000,000 | 1 month                                | 4-month linear                               | 20%                              |
| Team                   | 33%       | 330,000,000 | 12 months                              | 24-month linear                              | 0%                               |
| Partner Incentives     | 10%       | 100,000,000 | 6 months                               | 16-month linear                              | 50%                              |
| Liquidity Incentives   | 15%       | 150,000,000 | Separately announced Unlock Start Date | Daily lots follow the point-earning sequence | 0% under proposed post-TGE start |
| Advisors               | 4%        | 40,000,000  | 9 months                               | 24-month linear                              | 0%                               |
| Treasury               | 10%       | 100,000,000 | 8 months                               | 24-month linear, DAO-controlled              | 0%                               |

> Note on Liquidity Incentives: Of the 150,000,000 TPR (15% of total supply) designated for liquidity incentives, 120,000,000 TPR is proposed for the point system at a 1:1 ratio (1 finalized point = 1 TPR), and 30,000,000 TPR is held as a reserve buffer for future initiatives.

***

### Proposed Token Utility

#### Governance

The proposal gives TPR holders a role in decisions about treasury spending, incentives, and development. This does not describe current control of Core V1: pool and oracle functions use admin and operator roles, while market deployment is factory-owner restricted. Any transition to token governance requires a separate implementation and transfer of authority.

#### Protocol Fee Capture

The protocol collects redemption fees where configured at the pool level:

| **Fee Type**   | **Rate**                     | **Trigger**                                                          |
| -------------- | ---------------------------- | -------------------------------------------------------------------- |
| Redemption Fee | Pool-specific / configurable | Applied when users redeem or recombine positions into the base asset |

The proposed future fee-use policy is:

* 50% → Used to buy back and burn TPR tokens
* 50% → Sent to the DAO treasury for protocol operations

#### Burn Mechanism

The proposal would use a separate mechanism to exchange allocated revenue for TPR and burn the purchased tokens. No such mechanism is included in Core V1. Its implementation, execution cadence, liquidity requirements, and governance would need to be specified. Buybacks or burns would not guarantee token value or a return to holders.

***

### Proposed Supply Availability

* **Proposed initial unlocked allocation at TGE:** 8.6% (86,000,000 TPR). This assumes the proposed Unlock Start Date follows TGE, so routine liquidity incentives contribute no unlocked tokens at launch.
* **Potential availability excluding the reserve:** Up to 970,000,000 TPR (97% of supply) can become available if the full 120,000,000-point routine budget is earned. Other stakeholder schedules finish by month 36; routine point lots have no fixed completion month. The remaining 30,000,000 TPR reserve requires separate authorization and has no fixed release date. Allocated but locked TPR is excluded from available supply.

***

### Incentive Token Unlock

The proposed liquidity-incentives allocation reserves 120 million TPR for finalized points and 30 million TPR for separately authorized programs. Each finalized point establishes one TPR of entitlement; withdrawals depend on finalization, the separately announced unlock schedule, and an implemented distribution mechanism. See [Incentives](/incentives.md#when-can-tpr-unlock) for the earning and unlock rules.

### Proposed Token Launch

Tapir plans to announce TGE and its date when protocol TVL reaches **$10 million**. This milestone concerns the announcement; it does not immediately trigger TGE or token unlocks. The proposed timing and milestone remain subject to change.

***

### Proposed Treasury Policy

The proposal allocates 50% of protocol fees, token-sale proceeds, and the 10% treasury token allocation to a future DAO treasury. Core V1 currently sends collected pool fees to its configured `TREASURY`; it does not enforce a 50/50 split, tokenholder voting, or spending approval by a DAO.

Any future governance and burn policy requires its own implementation. Token incentives, supply reductions, and protocol growth do not establish a promised return or token price.

***

The [full points and liquidity incentive specification](/resources/points-program.md) in Resources contains the detailed formulas, worked examples, controls, and [disclaimer](/resources/points-program.md#disclaimer). No TPR dollar value or assured return is established here.