Two weeks ago I said there'd be no token. Today there is one. Here's why.
The protocol works. Roughly 33,000 lines of Rust, 407 tests passing, v0.5.0-rc3. What's missing isn't the protocol — it's the path to mainnet: a security audit, a finished MPC ceremony, validator incentives at genesis. Those cost money we don't have. Three grant applications, zero responses so far.
A token solves this — but only if it's structured so that it doesn't quietly become the thing the May 9 post warned about. So here's the structure, in full.
Allocation
- 93% public — pump.fun fair launch. No presale, no private round, no insider allocation. Everyone buys on the same bonding curve at the same time.
- 7% treasury — locked via Streamflow at launch, then vested.
That's the whole table. There's no founder allocation outside the treasury, and the treasury isn't a founder wallet — it's earmarked, vested, and on-chain verifiable.
The token mint — verify this matches before you buy:
Br1JxELQYP34YdRW4gbEPLasHEtyz8eCmT2FvmnYpump
Treasury vesting
7% of supply will be locked via Streamflow immediately after launch. A 7-month cliff — fully locked, nothing unlocks until then — followed by unlocks.
The lock is live and on-chain verifiable: view it on Streamflow.
Treasury use
Three things, in priority order:
- Security audit. External review of the circuits, the Anchor program, and the BFT path. This is a hard mainnet prerequisite, not a nice-to-have.
- MPC ceremony. Funding the coordinated, multi-contributor Groth16 trusted setup so mainnet keys come from a real ceremony with a public transcript, not from locally generated dev keys.
- Validator incentives at genesis. Bootstrapping a decentralized validator set before mainnet activation.
No founder cut from protocol fees. The fee economics stay exactly as documented at docs.paraloom.io. The token funds the road to mainnet; it doesn't rewrite how the protocol pays its validators.
The May 9 post
The May 9 post said "no token." That position has changed, and pretending otherwise would defeat the only thing this project trades on. That post stands as written, with a note at the top pointing here.
If you held me to the earlier post, you were right to. This is the version where I tell you the position changed and exactly how — not the version where the old words quietly disappear.