PROSPECTUS.HTM
HTML edition · kind to a 28.8 modem · last typeset for Season One
This prospectus describes NET, the reserve-backed instrument sponsored by NetNet Capital Management, and the programs that settle against the treasury.
1. The instrument
NET is an ERC-20 style token on Robinhood Chain (chain id 4663). Each NET is backed by no less than 1 USDG held in the treasury contract. The market may trade above that floor; it may not trade the protocol below it without triggering the buyback bid.
Reserves are denominated in USDG. Idle balances may be lent through Morpho so that backing compounds while it waits. Figures on the home page are read from the chain and refresh with each block that matters.
2. Staking and distributions
Shareholders who stake NET receive rebasing sNET. Distributions arrive every 8 hours (three times daily). The rate is set by an immutable formula keyed to the market premium and is capped so that every NET remains backed by at least 1 USDG.
- Epoch length
- 8 hours
- Cadence
- 3 distributions per UTC day
- Unit of account
- USDG for reserves; NET for supply
3. Trading fee
AMM buys and sells pay a 5% fee. Wallet-to-wallet transfers are free. No live program is exempt from the fee schedule published in FEES.HTM.
4. Programs overview
- Shareholder Dividend Program — stake and receive epoch distributions
- Real World Bonds — discounted NET with a two-day vest, routed via Rialto
- WinNET, Superstore, CLIMB, COINflip, SPACEX INVADERS, Flight Simulator, TURBO BLACKJACK, TURBO — entertainment and trading desks
- Loopback — borrow USDG against staked NET
- Managed Futures Desk — test program, not part of reserve backing
5. Season One crates
Season One Shareholder Crates weight register size and tenure. Larger and longer positions on the register fill a fuller crate. Crate contents and unlock rules are posted with each drop; this prospectus does not replace the crate card printed for a given epoch.