Token
$OTC is the venue's native token. Its only protocol-level function is to receive venue revenue through a daily buyback and burn.
Supply
Supply figures are read from the mint. Burned tokens are destroyed rather than moved to a holding account, so the reported max supply falls permanently with each burn.
| Figure | Value | Source |
|---|---|---|
| Max supply | 1,000,000,000 $OTC | Mint account |
| Decimals | 6 | Mint account |
| Circulating supply | not published | Mint account, live |
| Burned to date | not published | Burn transaction history |
| Mint authority | revoke status not published | Mint account |
Distribution
Venue revenue is split four ways. This allocation is fixed policy, applied to every withdrawal from the fee vault.
| Allocation | Share | Purpose |
|---|---|---|
| Buyback & burn | 50% | Half of all venue revenue buys $OTC on the open market and burns it, once every day at a random time. |
| Development | 25% | Program audits, indexer infrastructure, new settlement features. |
| Team | 15% | Core contributors building and operating the venue. |
| Partners & investors | 10% | Market makers, integrations and early backers. |
Supply allocation
The split of the initial 1,000,000,000 supply across treasury, team, partners and liquidity has not been published. It is left blank here rather than estimated.
| Bucket | Share of supply | Unlock |
|---|---|---|
| Treasury | not published | not published |
| Team | not published | not published |
| Partners and investors | not published | not published |
| Liquidity | not published | not published |
Fee flow
The protocol fee is 30 bps of notional (0.30% total, 0.15% per side at the current rate, 0.30% in total), charged in each side's own asset, and it accrues in the payment asset. The path from a fill to a burn is:
- A fill credits the fee vault in USDC or wSOL. The vault lives in an address space separate from every order's escrow vault.
- The administrator withdraws collected fees. This is the only administrative instruction that touches a token account.
- Half of the withdrawn revenue buys $OTC on the open market and burns it, once every day at a random time. The remainder funds development, the team, and partners as tabled above.
Burns are ordinary on-chain transactions, so each one is independently verifiable against the mint's supply before and after.
Utility within the venue
$OTC does not gate trading, does not discount fees, and does not vote on protocol parameters. Its function is a claim on venue revenue expressed as supply reduction: every burn permanently shrinks the denominator against which future revenue is measured.
Vesting
Team and partner unlock schedules have not been published. Until they are, treat unlocked supply as unknown rather than assuming a cliff or a linear release.