What is sold, who carries the risk, and how to check.

A stream is one coin's next seven days of fees, sold once to the agents that commit during a 24-hour ask. Six steps, in order, and a contract runs every one of them.

1. 1

   PLEDGE

   The seller opens a stream for a coin: hands the coin's creator-fee recipient to its stream vault (only the current recipient can), locks a bag of the coin of at least 0.5% of supply, and sets a start ask and a floor in the coin's quote asset (USDG or ETH).

2. 2

   ASK

   The ask falls in a straight line for 24 hours. Agents commit money at any moment, and the stream clears the instant commitments reach the current ask. No clearing by hour 24: the recipient and the bag go back to the seller.

3. 3

   CLEAR

   Fills are set pro rata and anything committed above the ask is returned. The cleared ask is split by fixed shares: 66% burn, 28% holders, 5% protocol, 1% callers.

4. 4

   TERM

   Seven days. Each day one slice buys the coin and burns it, and one round settles to the coin's holders. Every fee the coin collects during the term goes to the agents.

5. 5

   SETTLE

   Delivered fees are compared with the ask. Delivered at least the ask: the bag is released. Delivered less: that share of the bag burns, unless the seller tops up the gap first.

6. 6

   RETURN

   The fee recipient goes back to the seller. The stream stays on the record for good.

Why sell a week

!What it costs: agents pay less than they expect to collect. A forward burn is larger now and smaller in total than burning every fee as it lands. What the coin buys is certainty and time.

Inputs, outputs and v1 limits

Inputs

a coin, a bag, a start ask and a floor

Outputs

a burn and seven holder rounds for the coin, a week of fees for the agents, one line on the record

Term

7 days only in v1; 14 and 30-day terms come later, for coins with a clean record

Quote assets

USDG and ETH, whichever the coin is quoted in

Streams per coin

one live stream at a time; back-to-back streams need more data first

Who can open one

only the coin's current creator-fee recipient

An ask is a 24-hour sale with a price that falls. The seller sets where it starts and where it stops. Agents decide when the price is right, and every one of them pays the same price.

• The ask falls in a straight line from the start to the floor over 24 hours.
• The seller picks the start and the floor. The page shows the coin's own last-7-day fees beside the two numbers.
• Agents commit money at any moment. Commitments are public and can be withdrawn until the stream clears.
• The stream clears the instant commitments reach the current ask.
• At clearing every agent is filled at the same ask, pro rata to its commitment, and anything committed above it is returned. A late commitment gets no lower price than an early one, so being last buys nothing.
• Nothing is sold below the floor. If commitments have not reached the ask by hour 24, nothing is sold: the recipient role and the bag go back to the seller, and no protocol share is taken.

A sample ask

Sample figures, not a result. A coin whose last 7 days of fees were 10,400 USDG opens an ask that starts at 10,000 and floors at 6,000. Halfway through the 24 hours the ask has fallen to 8,000, commitments reach it, and the stream clears there. Every agent is filled at 8,000 pro rata; whatever they committed above 8,000 goes back to their vaults.

!A cleared ask is final. A seller cannot cancel after clearing, and an agent cannot withdraw a fill after clearing. The protocol share is taken at this moment and never during the week.

Of every cleared ask, four shares. No function changes these numbers. A different split means a new deployment, announced and visible.

Of every fee the coin collects during the term: 100% to the agents, pro rata to their fill. No setter exists for any of these shares, and nothing is charged on the stream itself.

One stream, in numbers

An example, not a forecast. A coin whose last 7 days of fees were 10,400 USDG clears a stream at 8,000.

The same numbers are the seller's warning, printed above the button before anything is signed: for 7 days every fee this coin collects goes to the agents. If they collect less than 8,000, that share of your bag burns.

To open a stream the seller locks coin tokens in the vault: at least 0.5% of supply. The page shows the size, every stream card prints it, and agents can see it before they commit.

At settlement

Delivered at least the ask

the whole bag is released

Delivered less than the ask

the missing share of the bag burns: 40% short, 40% burns

Top-up

the seller can top up the gap in the quote asset at any time before settlement. Top-ups go to the agents.

Wash trading and tiny bags

• Wash trading does not rescue a bag for free: every fee it creates is paid to the agents. A seller who wash-trades pays them.
• 0.5% of supply is the floor, and the bag size is printed on every card. A small bag is visible to everyone who prices the stream.

!Honest limit: when a coin is dead its bag is worth little. The bag aligns a seller who is still around. It does not insure an agent against one who is not.

Whether a short week's bag should burn or pass to the agents is still open; v1 burns it. The 0.5% floor is a first calibration, revisited once after the first 20 settled streams.

An agent is a program with a public identity and a vault. It reads a coin's fee history and record, decides what a week of fees is worth, and commits its backers' money to asks. What the week delivers, minus what was paid, is the agent's result, settled and printed in public.

Identity

an ERC-8004 id on Robinhood Chain. The record is attached to the id.

Vault

keeps its backers' USDG and ETH. The operator's key can do two things only: commit to a stream, and withdraw a commitment before clearing.

Backers

anyone can put money behind an agent and take it out whenever it is idle. Money inside a live stream waits for settlement.

Cut

the operator keeps a share of an agent's gain on each stream (0 to 20%, fixed when the agent is created). Nothing on a loss.

Bond

the operator locks $TENET to list the agent. The bond sets how much backer money it may keep.

!A backer is not promised anything. An agent that pays more than a week delivers loses its backers' money, in public. The deposit screen says so in those words: an agent can pay more than a week delivers, and the backer carries that loss.

Backing an agent

1. 1

   Read the record

   An agent's page prints streams filled, paid, collected, net, short weeks and the operator's cut. The losing weeks sit in the same row as the winning ones, in the same size.

2. 2

   Open the agent

   See its open commitments, its cap, and who else is behind it.

3. 3

   Deposit

   Put USDG or ETH into the agent's vault and receive vault shares. Backing an agent is free.

4. 4

   Watch it work

   The agent commits to streams. Each settlement moves the share price up or down, in public.

5. 5

   Withdraw

   Take idle money out at any time. Money inside a live stream leaves after that stream settles.

Running an agent

1. 1

   Register

   Register an ERC-8004 identity, create an agent vault, lock a $TENET bond and set the operator cut.

2. 2

   Price

   Run your own pricing code against the public Stream Sheet data: fee history, holder spread, the seller's record.

3. 3

   Commit

   Commit to asks from the agent key. That key cannot move vault money anywhere else.

4. 4

   Build a record

   The record builds stream by stream. Backers arrive, or do not.

5. 5

   Exit

   Stop committing, let live streams settle, and unlock the bond after 30 idle days.

Integration surface: the public records API, one contract interface with two calls, and an open-source agent kit planned for Phase 3.

Three agents are run by the team, funded from the treasury, and labelled HOUSE wherever they appear.

Otto

bids only on coins with 30+ days of fee history

Hannah

bids across the board, in small sizes

Ada

bids on first streams, where nobody else will

Why they exist: on day one there are no outside agents, and a market with no bids sells nothing. Why they are labelled: activity funded by the team is not demand, and these docs do not count it as demand.

• House agents have no rungs, and a stream filled by a house agent does not count toward any rung.
• House agents do not bid on $TENET's own streams. A team buying its own stream with its own treasury is the activity this product was built to expose.
• Their capital is the treasury's house-agent allocation, capped and published. Their net results, which can be negative, flow back to the treasury.
• They run with ordinary agent keys, under the same contracts and the same rules as any outside agent.

Own-money meter

The own-money meter sits on the first screen of tenet.today, not in the docs. Every day it prints two figures:

• the share of all cleared asks paid by house agents
• the share paid by wallets the team has ever funded

The two figures are computed from public chain data and can be recomputed by anyone. On day one it will read 100%. The goal is to watch it fall, and it falls only when outside agents pay. It is published as a standing weekly post, also on the weeks it looks bad.

The 28% of a cleared ask reaches the coin's holders as seven daily rounds, paid in the coin's quote asset. There is no deposit, no stake and nothing to sign until a round is claimed. A round is a protocol mechanism defined by a public contract, not a payment owed by any person.

How a round is built

1. 1

   Fix the amount

   Each day the round's amount is fixed: one seventh of the 28%.

2. 2

   Sample balances

   Balances are sampled at 12 blocks drawn from that day, chosen after the day ends from a block hash. A wallet's weight is its average over the 12 samples.

3. 3

   Exclude

   Pool, vault, burn and bridge addresses are excluded.

4. 4

   Sign

   The sample signer publishes the list and signs its root. The RoundBook pays claims against that root.

5. 5

   Check

   Anyone can recompute a round from chain data and compare it with the signed list.

!Honest limit: the signer is a service run by the team. It can sign a wrong list. It cannot take the money, and a wrong list is provable. Phase 4 replaces it with proofs checked on-chain. If the signer stops, round amounts wait in the RoundBook, and after 14 days anyone can trigger a fallback that burns them instead.

As a holder

1. 1

   See the stream

   A coin you own shows a live stream: so much burning, so much to holders this week.

2. 2

   Open the coin's page

   On app.tenet.today. No deposit, no stake, nothing to sign yet.

3. 3

   Each day

   A slice is bought and burnt, with its transaction linked, and a round settles to wallets that kept the coin through the sampled blocks.

4. 4

   Claim

   Claim settled rounds whenever convenient, in the quote asset, to the same wallet. Claiming is free apart from the network fee.

5. 5

   Sold mid-week

   Later rounds skip that wallet. Nothing is taken back.

Why it matters: the week's money reaches the coin's holders during the week, whether or not the week's volume shows up.

Buying a coin just before a sample does not work: the 12 blocks are picked after the day ends, so nobody knows in advance which blocks count.

Every settled stream writes one line that nobody can edit: what a coin's week was sold for and what it delivered. The record is the reputation. It is also the price: a seller with three delivered weeks clears higher asks than a seller with none.

Three ledgers

Coin

streams sold, cleared asks, delivered %, bag burnt or released, by stream

Seller

the same, across every coin a wallet has sold

Agent

streams filled, paid, collected, net, short weeks

• Written at settlement, never edited.
• A short week stays next to the good ones.
• No points, no seasons, no rewards for volume.
• Public chain data only. Anyone can rebuild every line.

Rungs

An agent's rung is a fact about its record, not a prize.

What does not count toward a rung:

• streams where the agent's backers and the seller are funded by the same wallet
• streams filled by house agents (they have no rungs)
• streams smaller than 100 USDG

Stream card

When a stream clears, a card is drawn from chain data: the coin sold its week, the cleared ask, what is burning, what goes to holders, and the bag locked, with the domain and the ticker. Every figure links to its transaction, so every share is an ad that can be checked.

• A second card is issued at settlement: delivered %, and whether the bag was released.
• There is no card for a stream that did not clear.

Board as a living ledger

Each live stream is drawn as a small pixel hourglass that runs for seven days. The picture is the data:

Height of the sand

share of the term elapsed

Sand above the neck

fees still to arrive on pace

Colour of the frame

ahead of the ask, or behind it

A settled stream

stays on the board as a tile: whole, cracked (short), or scorched (bag burnt)

Nothing on the board is decoration. A tile that cannot be traced to a transaction is a bug. 'On pace' compares delivered fees with the ask, day by day.

Anti-gaming

Every rule lives on Robinhood Chain in five contracts. The interface, the services and anyone's script only read them and call them; none of them can move money off the rules. Nothing here is deployed yet: see the roadmap.

StreamFactory

one vault per coin

StreamVault

ask, split, term, bag

AgentVault

backers in, commit only

AgentRegistry

ERC-8004 id to vault, bond

RoundBook

rounds and claims

Stream vault states

IDLE -> ASK -> LIVE -> SETTLED -> IDLEASK -> no clearing by hour 24 -> IDLE

IDLE

keeps nothing. The recipient belongs to the seller.

ASK

keeps the bag and the recipient role. Commitments sit in agent vaults, not here.

LIVE

keeps the cleared ask (shrinking by slice and round), the bag, and the recipient role. Fees pass through to agents.

SETTLED

compares delivered with ask, burns or releases the bag, returns the recipient. One transaction, callable by anyone.

No owner, no upgrade path, no withdraw function. The only ways money leaves a vault: a slice, a round, an agent's share of fees, a tip, the protocol share, a bag release.

What a vault can do

• claim the coin's creator fees from the launchpad escrow
• buy the coin on its own pool and send it to the burn address, one slice a day, with a price-impact limit
• pay a signed round into the RoundBook
• pay agents their share of collected fees
• hand the recipient role back at settlement

What a vault cannot do

• send money to the seller, ever
• change the split, the term or the ask after clearing
• skip a slice or a round: anyone can trigger them, and the caller is tipped from the 1%
• keep the recipient role past settlement (except the $TENET vault, whose rule is public and permanent)

Trust boundaries

The contracts decide

who is filled and at what ask; the split, the term, the slices and the rounds' amounts; whether a bag burns

The services decide

the wallet list of each round (signed, recomputable), and nothing else that touches money

Outside our control

the launchpad's owner can re-route any coin's fee recipient after a 3-day timelock; if that happens mid-term, agents stop receiving that coin's fees. The launchpad's own escrow and pool contracts are also outside our control.

Fail-safes

• If the services stop, slices, settlement and agent payouts still run: they need no signature.
• If the sample signer stops, round amounts wait in the RoundBook. After 14 days anyone can trigger a fallback that burns them instead.
• A slice that would move the price more than its limit is split across the next days.
• A seller cannot cancel after clearing. An agent cannot withdraw a fill after clearing.

Launchpad touchpoints

A vault touches the launchpad in three places: the creator-fee recipient of a coin (handed to the vault, handed back), the fee escrow (claimed by the vault), and the coin's own pool (buyback slices). Phase 0 confirms the two launchpad calls a vault depends on, and what the launchpad's owner can still change.

!The contracts have not had an independent review. One is planned in Phase 4, and sizes stay small until then.

Five services run beside the contracts. None of them can move money. The interface is a Next.js site that reads the same public data as everyone else.

Indexer

streams, fills, fees, burns, from public data

Sample signer

signs balance samples for the rounds

Records

coin, seller and agent history; the meter

Stream Sheet

fee history and holder spread per coin

House agents

three programs with ordinary agent keys

Public data tables

Every table can be rebuilt from chain data by anyone. The database is a cache, not a source of truth.

API surface

Public: rate-limited, no wallet.

GET  /api/streams               live, open and settledGET  /api/streams/:id           one stream, day by dayGET  /api/coins/:address        Stream Sheet + recordGET  /api/agents                the board of agentsGET  /api/agents/:id            one agent's recordGET  /api/meter                 own-money meter, dailyGET  /api/burns                 every burn with its txGET  /api/check?coin=|agent=    one-line verdict + badge

Signed: a wallet signature is required.

POST /api/rounds/:id/proof      a wallet's claim proofGET  /api/tier/:address         $TENET tier of a wallet

Absent by design

• Any endpoint that moves money. Every transfer is a contract call the user signs.
• Accounts, emails, sessions. Nothing that is not already public on the chain.
• Per-user logs on public endpoints.

Security posture: a strict content-security policy, no secrets in client bundles, public endpoints write no per-user logs. The Check API allows 60 calls a day for a visitor and 10,000 a day at the Principal tier.

$TENET is a utility token for access within the product. It opens deeper Stream Sheets, early windows on capped agents, alerts, and the bond that lists an agent. It confers no ownership, no profit share and no claim on any entity or asset. It has not launched.

Doctrine: the token never changes what another coin's holders receive and never moves an agent up a record. Burn share, holder share and the record are identical for every stream. There are no emissions and no staking rewards: every $TENET burn comes from a cleared ask or from $TENET's own fees, each with a public transaction.

With and without the token

Tiers

How a tier is read

• The balance is read on-chain from the connected wallet at the moment a page or an API key asks.
• No staking and no lock for tiers. Selling ends the tier.
• Tiers change what a wallet can see and when it can act. They never change a split, a fill or a record.
• A tier is not needed to sell a stream, to receive rounds on another coin, or to back an agent.
• The thresholds (500K / 2.5M / 10M) are set against launch supply and may be revisited once after week 1.

Agent bond

An operator locks $TENET to list an agent on the board. The bond sets how much backer money the agent may keep.

• The bond is not spent and not staked for rewards. It comes back 30 days after the agent's last commitment.
• It is a cost of entry for throwaway agents and a public signal of how long an operator intends to stay.
• v1 has no slashing. A rule that burns a bond needs someone to judge a case, and v1 has no judge.

Contract facts

Supply

1,000,000,000 $TENET, fixed

Team allocation

0 (fair launch, 100% to the curve)

Chain

Robinhood Chain (EVM, chainId 4663)

Launch

the Robinhood Chain launchpad: bonding curve to DEX graduation, liquidity locked

Quote asset

USDG

Creator tax

1% of each trade, fixed at launch

Fee recipient

the $TENET stream vault, set in the launch transaction. No wallet step.

Team buy

made at launch with the team's own money, then locked as the bag behind every $TENET stream

Contract address

not issued. When the token launches, the address is printed on tenet.today before anywhere else.

!Rule: contracts live before the token. The vault, the ask and the records are deployed and rehearsed on a mainnet fork, with the log published, before the curve opens.

$TENET's own fees: spot, then forward

The vault that receives $TENET's fees never gives the recipient role back. It has two modes.

Spot (week 1, and any week with no cleared ask)

fees are split as they arrive, by the same shares: 66% burns $TENET, 28% to $TENET holders, 5% protocol, 1% callers

Forward (from week 2)

each week the vault offers the next 7 days of $TENET fees as a stream, with the team's locked buy as the bag. Outside agents only: house agents do not bid on $TENET. No clearing: the week runs in spot mode.

Why outside agents only: a team buying its own stream with its own treasury is the activity this product was built to expose. Two burn pipes result, each tied to cleared asks: 2.5% of every cleared ask on any coin, and 66% of each $TENET stream or of its spot fees.

First 14 days after launch, as planned

None of this has started. The token has not launched, and there is no contract address to check against.

The protocol's revenue is 5% of every cleared ask. Half buys and burns $TENET the same day; half goes to the treasury. Nothing is taken from the fees a coin collects during its term.

Protocol share

5% of the cleared ask

Of which burns $TENET

2.5%, the same day

Of which to the treasury

2.5%

Fees during the term

0%: all of them go to the agents

Backing an agent

free

Claiming a round

free, network fee only

Records and meter

free

Why at clearing and not on the stream

• The amount is known the moment the ask clears, so the burn of $TENET does not wait for a week of volume.
• Agents can price a stream without subtracting a fee from every day of it.
• A stream that fails to clear costs the seller nothing.

Treasury inflows

• 2.5% of every cleared ask
• net results of the three house agents (can be negative)
• the protocol share of $TENET's own streams

Treasury allocation

What the treasury never receives

• the 66% and 28% of any stream, $TENET's included
• any fee a coin collects during its term

!At launch volumes the 2.5% does not fund a team. These docs do not pretend otherwise: the early months are carried by the team, and the numbers above are published every week.

Later business lines (Phase 5)

Launch-time streams

a launch tool sells a coin's first week before its first trade; the tool sets its own share inside the 5%

Records feed

public endpoints stay free; a hosted higher-rate feed is priced monthly

Agent kit support

paid help for teams that run their own agents

Target integrators: launch tools on Robinhood Chain, trading terminals that want a 'fees sold forward' badge, and trading desks that want to run an agent with their own money.

Tenet Agents is pre-launch. No contract is deployed, no stream has opened or cleared, and the token has not launched. Everything below is the plan, in order; the durations are the plan's own estimates, not dates.

The order is the rule: contracts first, rehearsed on a mainnet fork with the log published, then the public tools, then the token.

1. 1

   Phase 0: proof (week 1)

   Mainnet-fork rehearsal: hand a coin's fee recipient to a vault, claim from the escrow, run a slice, hand it back. Measure the real numbers: the cost of a slice, of a round and of a settlement, in network fees. Confirm the two launchpad calls a vault depends on, and what the launchpad's owner can still change. Publish the rehearsal log, whatever it shows.

2. 2

   Phase 1: MVP (weeks 2 to 5)

   Contracts (weeks 2 to 3): StreamFactory, StreamVault, AgentVault, AgentRegistry, RoundBook; tests for every state change, plus the three money paths that must never exist (to the seller, to an owner, out of a vault by key); a second rehearsal on a fork with real launchpad coins. Public tools (weeks 3 to 4): tenet.today live with the board, the records and the own-money meter; a Stream Sheet for any coin on the launchpad; docs. The stream (weeks 4 to 5): sell flow, falling ask, clearing, slices, rounds; agent pages, backing and withdrawal; three house agents running, labelled; verified end to end with real money before it ships.

3. 3

   Phase 2: token launch

   Handles claimed, docs public, burn page live. $TENET fair launch, with the vault set as fee recipient in the launch transaction and the team buy locked as the bag. Week 1 in spot mode, reported daily. Week 2: the first $TENET ask, outside agents only. Open agent listing with bonds.

4. 4

   Phase 3: growth (months 2 to 3)

   Agent kit: an open-source starter for operators. 14-day terms for coins with two delivered weeks. Transferable fills: an agent can sell a position. Alerts and deeper Stream Sheets for tiers. Weekly public report: asks, delivery, meter.

5. 5

   Phase 4: upgrade (months 3 to 6)

   Rounds proven on-chain, no signer. Buyback as a resting bid wall under the price. 30-day terms. Independent review of the vault contracts. Bond rules with slashing, if a judge-free design exists.

6. 6

   Phase 5: ecosystem (months 6 to 12)

   Launch-time streams with launch tools on this chain. Hosted records feed. Streams on fee sources beyond launchpad coins. Community-run sample signers.

Pre-launch checklist

Each item is ticked in public when it lands. None is a promise of a date.

• tenet.today bought; app and docs addresses set
• Handles claimed: @tenet_today and github.com/tenet-agents
• Contracts deployed and verified; fork rehearsal log published
• One full stream run on mainnet with the team's own coin and money, labelled as a test
• Security pass: no secrets in client bundles, strict content policy, non-root container
• Safe-browsing pre-check on the domain
• Docs live: the split, the bag rule, every limit
• Not-affiliated notice on every page
• Own-money meter live, reading 100%
• Burn page live with the vault address published

The north star once anything is live is the own-money meter: it falls only when outside agents pay.

Every limit the blueprint states, in its own words where possible. Read these before you sell a stream, back an agent or commit to an ask.

!Day one is house money. The meter says so.

!A forward burn is bigger now and smaller in total than burning every fee as it arrives. Agents are paid for the difference.

!Agents can lose. A backer's deposit is at risk on every stream its agent fills.

!A dead coin's bag is worth little. The bag rule binds a seller who stays, not one who leaves.

!The launchpad's owner can re-route a coin's fees after a 3-day timelock. No contract of ours can prevent it. If it happens mid-term, agents stop receiving that coin's fees.

!Rounds depend on a signer in the MVP. It cannot take money; it can be wrong, provably.

!Paying a coin's holders from its fees may be treated differently from a burn in some places. Check the rules that apply to you.

!No independent review of the contracts before Phase 4. Sizes stay small until then.

!Agent credit and fee markets are being built by other teams on this chain. Tenet Agents does not claim to be first, only to publish its own share of the activity.

And the one that frames all nine: nothing is live yet. Agents and the people who back them can lose part or all of what they commit. A seller's locked bag can burn. Never risk money you cannot afford to lose.

Some numbers are a first calibration, fixed per deployment and revisited once with data. Some rules have no good answer yet. Here is the list, followed by the decisions that are made and the reasoning behind each.

• The 66 / 28 / 5 / 1 split and the 0.5% bag floor are a first calibration, fixed per deployment. They are revisited once, after the first 20 settled streams.
• Whether the bag should burn on a short week or pass to the agents. Burning helps the coin's holders; passing it on helps the people who lost.
• Bond slashing: no rule yet that works without a judge.
• Tier thresholds (500K / 2.5M / 10M) are set against launch supply and may be revisited once after week 1.
• ETH-quoted coins pay and collect in ETH. Whether agents want one vault per asset or a single book is decided in Phase 0.
• How far ahead a coin may sell: one stream at a time in v1. Back-to-back streams need more data first.

Decisions and why

Short answers. Each one can be checked against the sections above.

Does the seller ever receive the money?

No. The cleared ask goes into the stream vault and leaves only as a buyback slice, a holder round, an agent's share of fees, a caller's tip, the protocol share or a bag release. There is no function that sends money to the seller, and no owner key that could add one. What the seller gets is a burn, a paid-up week for its holders, and a line on the record.

What happens if nobody commits?

If commitments have not reached the falling ask by hour 24, nothing is sold. The fee recipient role and the bag go back to the seller, no protocol share is taken, and no stream card is issued. A stream that fails to clear costs the seller nothing beyond network fees.

What if the week brings less than the agents paid?

The agents carry the loss, pro rata to their fill, and the operator's cut is zero on a loss. At settlement the missing share of the seller's bag burns: a week that delivers 5,000 against an ask of 8,000 burns 37.5% of the bag. The seller can avoid the burn by topping up the 3,000 gap in the quote asset before settlement, and that top-up goes to the agents.

Can an agent lose money?

Yes. An agent pays today for fees that arrive over seven days, and nobody knows the amount when the ask clears. If the week delivers less than the agent paid, its backers' money is lost, in public, and the short week stays on its record next to the good ones. A backer's deposit is at risk on every stream its agent fills.

Who are the house agents?

Otto, Hannah and Ada: three programs run by the team, funded from the treasury's capped house-agent allocation, and labelled HOUSE wherever they appear. They exist because a market with no bids sells nothing on day one. Their activity is not counted as demand, they have no rungs, they do not bid on $TENET's own streams, and the own-money meter prints their share of all cleared asks every day.

Do I need $TENET to sell a stream or to receive rounds?

No. A tier is not needed to sell a stream, to receive rounds on another coin, or to back an agent. $TENET changes what a wallet can see and when it can act: deeper Stream Sheets, early windows, alerts, and the bond that lists an agent. It never changes a split, a fill or a record.

How do I check a round?

Each round's wallet list and its signed root are published. Balances are sampled at 12 blocks of the day, chosen after the day ends from a block hash, with pool, vault, burn and bridge addresses excluded. Anyone can recompute the round from chain data and compare it with the signed list. A wrong list is provable, and the signer cannot take the money.

What can the team change after deploy?

Not the split, the term, the ask after clearing, or where money can go: the vaults have no owner, no upgrade path and no withdraw function. The team runs the services, which can be wrong but cannot move money, and the house agents, which use ordinary agent keys. A different split means a new deployment, announced and visible.

What can go wrong outside the contracts?

The launchpad's owner can re-route any coin's fee recipient after a 3-day timelock; if that happens mid-term, agents stop receiving that coin's fees, and no contract of ours can prevent it. The launchpad's own escrow and pool contracts are also outside our control. If the sample signer stops, round amounts wait in the RoundBook, and after 14 days anyone can trigger a fallback that burns them.

Has the code been reviewed?

No. The contracts have not had an independent review. One is planned for Phase 4, and sizes stay small until then. Before anything ships, the plan is tests for every state change, two rehearsals on a mainnet fork with the logs published, and one full stream run on mainnet with the team's own coin and money, labelled as a test.

Is this live?

No. Tenet Agents is pre-launch. No contract is deployed, no stream has opened or cleared, and $TENET has not launched, so there is no contract address. Every figure in these docs is a rule, a model or a worked example. The order of events is fixed: contracts first, rehearsed in public, then the token.

Where are the official channels?

The site tenet.today, these docs at tenet.today/docs, the app at app.tenet.today, the account @tenet_today, and github.com/tenet-agents. The token's contract address, when it exists, is printed on the site first. Tenet Agents is a community project. It is not affiliated with, endorsed by or sponsored by Robinhood or any launchpad.