Node-equity sales
The six-tier pyramid sells seats at one-time, tiered prices. These sales form the Foundation's base funding — the floor that does not depend on any future issuance.
Value is not captured by promises — it is settled by the ledger.
First prove the model survives without a token. Only then discuss one. The numbers below are derived in the document, not asserted.
№ 01§10.1 · Value capture
Three value sources
Value enters the system through three settled channels, not through a single speculative instrument.
Carry settlement
Net profit per verified loop is distributed by the §08 waterfall: Backers 70%, Sourcing & Coordination 10%, Lead Node Bonus 10%, WCN Treasury 5%, Service Provider Pool 5%.
Service & coordination pools
The Service Provider Pool and the Sourcing & Coordination bucket convert execution contribution into settled shares — work that is recorded, attributed, and paid.
№ 02§11.1 · Economic model
The raise, derived in-document
The theoretical range is the envelope of seat counts and prices. The red-team median below is reproducible: per tier, a representative price times a conservative fill rate.
- Theoretical cap
- USD 82–127M
- Red-team realistic median
- USD 55–60M
- Team runway
- 5–7 years
- Token dependency
- None
| Tier | Seats | Rep. price | Full price | Fill rate | Expected |
|---|---|---|---|---|---|
| Founding | 100 | $500,000 | $50.0M | 60% | $30.0M |
| Country | 65 | $185,000 | $12.0M | 55% | $6.6M |
| City | 300 | $60,000 | $18.0M | 45% | $8.1M |
| Track | 25 | $175,000 | $4.4M | 50% | $2.2M |
| Service | 500 | $30,000 | $15.0M | 50% | $7.5M |
| Standard | 1,000 | $5,000 | $5.0M | 30% | $1.5M |
| Total | $104.4M | $55.9M |
№ 03§10.3 · Token
Token: deferred, gated, fully allocated
Funding sustainability does not depend on a token. A token is deferred to Phase 3 (M24+), compliance-gated, and fully allocated with no hidden share.
Suggested allocation — 100% accounted for, no hidden share.
- Node reserve25%
Founding / Country / City / Track governance-coordination right.
- Team & Foundation20%
Multi-year vesting.
- Treasury15%
Long-term sustainability reserve.
- Ecosystem & incentives20%
Deal flow, service providers, growth.
- Public & liquidity20%
Compliant issuance and market-making.
№ 04§13.2 · Differentiation
The moat compounds
Being first to combine the parts is an opportunity, not a wall — combinations can be copied. The real moat is a cumulative asset that thickens with time.
Settled PoB history
Each verified loop sharpens how the network prices deal quality and node reputation. Later entrants do not hold this data.
Exclusive Country Partners
One partner per country holds exclusive coordination rights. Once a country is taken, it is taken.
Cross-jurisdiction compliance
The multi-jurisdiction compliance structure accumulated by Phase 3 is hard for a follower to reproduce quickly.
The node network and the PoB ledger compound together — network-effect data, reputation, and agent-training that build on a first-mover lead.
Settle, don't speculate
Read the model. Then judge it.
The economics are open to inspection. Review the proof boundary, or read the full derivation and waterfall in the wiki.