Machine installed, not plugged in. Every number and button below unlocks when it goes live. Smart-contract risk is real; there is no HR department. Check the laws of your jurisdiction.
ANNUAL REPORT
The annual report, published every second. Every number is a contract read; nobody can edit them, including us.
- MINIMUM WAGE (FLOOR)
- $1.00 USDC
- PAYROLL EVERY
- 8 HOURS
- MAX PAY PER SHIFT
- 0.45%
- PAY AT/UNDER BACKING
- 0%
- BUY TAX
- 5%
- EXIT TAX BY SENIORITY
- 10% → 1%
- ESPP DISCOUNT
- 3%–4%
- SEVERANCE BID
- NAV −1.5%
- Liquid USDC
- —
- Protocol-owned liquidity (at RFV)
- —
- Total risk-free value
- —
- INTERN supply
- —
- On payroll (sINTERN)
- —
- Backing per INTERN
- —
- Mint capacity before the floor binds
- —
The minimum wage: no contract can mint INTERN if it would push backing under $1.00 per token — the mint reverts. Backing is valued at risk-free value only; the treasury's own INTERN counts at $1, never at market.
rate = 0.45% × clamp((premium − 1) ÷ (1.75 − 1), 0, 1), paid every 8h, minted only within mint capacity. No owner can change it. Below backing the rate is zero and the Severance desk opens instead.
- Buy tax (flat)
- 5%
- Sell tax, by seniority
- 10% → 1%
- Team share of tax, now
- —
- Team share after 30 days
- 20%
- Rest of the tax
- → treasury, as USDC
Taxes are only charged on trades through the mapped INTERN/USDC pool. Collected tax is swapped to USDC in small clips by anyone, and lands in the reserve. The team's cut decays linearly from 80% to 20% over the first 30 days.
- Team option
- 15% of circulating supply
- Strike
- $1.00 USDC per INTERN
- Vesting
- 30 days linear from genesis
- Transferable?
- No (shares are, once exercised)
Executives can buy up to 15% of supply at the floor, paying USDC into the treasury — so exercising never dilutes backing below $1. The intern was offered 0%. Some things never change.
- RUN PAYROLL
Every 8h anyone can trigger the rebase. Staking, unstaking and claims trigger it too.
- CHECK THE TICKER
Anyone can checkpoint the TWAP oracle (every 30 min max). If nobody does for 4h, pay pauses — fail-closed.
- SECONDARY OFFERING
At 2× premium or more, anyone can make the treasury sell a small clip into the pool, every 8h. Proceeds go to the reserve.
- PROCESS WITHHOLDING
Anyone can convert collected tax to USDC, in clips, with slippage bounds.
No keeper, no admin, no “we'll look into it”. If a job matters, it is permissionless. The flip side: no one can pause, patch or rescue anything either.