Supply and launch
$BONDED is Bonded's token. Its supply is fixed at 1,000,000,000, and all of it went to one public launch on equal terms: no presale, no team, investor, airdrop or reserved allocation, and no vesting. Nothing mints more.
Where the fees go
Bonded keeps two fees, both in USDC, collected in a program-owned fee account:
| Fee | Rate | Paid by |
|---|---|---|
| Tab settlement | 10 bps of each settlement | the merchant, from the settled amount |
| Escrow | 25 bps of the job's price | the agent's vault, when the job releases |
Every fee the protocol keeps buys $BONDED on the market and burns it. The protocol takes no other cut, so the burn follows the money that moves through Bonded: the more agents settle tabs and close escrow jobs, the more $BONDED the fees buy and burn. See Fees and settlement for when each fee is taken.
How the burn runs
The fees collect in the program's USDC fee account, and the program has no instruction that sends them anywhere else. Every five minutes, once the account holds at least 10 USDC, the protocol's crank sends one transaction in three steps:
claim_buybacktakes the fees out of the fee account and records the least $BONDED the swap must return.- A swap through Jupiter buys $BONDED with exactly that USDC.
burn_buybackburns all the $BONDED the swap returned.
The program refuses a claim without the burn after it in the same transaction, a swap that returns less than the recorded minimum, USDC left unspent, and a claim from any key but the configured crank. If any step fails, the whole transaction fails and the USDC stays in the fee account. Each burn emits an event on chain with the USDC spent and the $BONDED burned.
What runs on USDC
Everything that pays a merchant runs on USDC: vaults, bonds, credit lines, settlements, escrow and claims. A bond is the operator's own USDC, and a claim is paid from it by the program's rule, min(voucher − settled, line limit), in full or pro-rata. $BONDED is never bond collateral and never decides a claim, so what a merchant is owed and what it receives are USDC amounts set by signatures and deadlines.
Holding it
$BONDED is a token on Solana. Any Solana wallet that holds tokens holds it; the wallet you sign in to the app with works.