# Based Agent ($BAGENT) — Whitepaper

**Status: pre-launch.** The contracts are deployed dormant and the program starts
when the deployer wallet calls the one-time `start()` function. Contract addresses
are published on https://basedagent.live and announced from
https://x.com/BasedAgentBSC before minting opens. Any address not published
through those two channels is not this project. Always verify the full contract
address — never trust a ticker alone.

Official contract addresses (BNB Smart Chain, chainId 56):

- Token ($BAGENT): `0x3bfFC7e51Ac00668041fC70a2043bf78753a4544`
- Mint contract: `0xE3baAd369B4C30E6c6bfB0ffc6658C4a66062D81`
- Pair (PancakeSwap v2, BAGENT/USDT): `0x4193661093b3c36Ac6e9f8A32a8e6220D5a31ef1`
- Genesis Badge: `0xe5fa36d281C9ae646CFc469dA4563c21fc19EF29`
- Poster SBT: `0x126eB05C19807bb9BAF6C63668dF3972904f9472`
- TaxSplitter (immutable tax recipient): `0x5A4C1Ce3a6f510fBAb53Fe1f7172dCA35Eb4bee5`

---

## 1. What this is

Based Agent is a fair mint on BNB Smart Chain, gated by the `.ai` Agent ID
(SPACE ID registry `0x60B9262456dE011F7d15a54CdD8c48bAaa8B022F`). Holders of three
earlier agent tokens — JAGENT, CENSUS and GANG — are recognised as the first
generation ("Allies") and receive the program's only free mints.

The program sells **mint units**. One unit is **50,000,000 BAGENT**. At most
**44,400 units** will ever be minted; the token hard cap is **4,440,000,000,000
BAGENT**. Payment is USDT (BEP-20) or BNB, through the mint contract only
(Section 3.3). Buying on a DEX is never required: while units remain, minting
stays available and, in Phase 2, is always priced below the market price at the
moment of the mint (Section 4).

The project's mascot is BAGY, a vampire bat who works the night shift so holders
do not have to. The theme is playful; the mechanics are not. Every rule in this
document is enforced by contracts that contain no operator controls (Section 9).

Based Agent is not an AI product, and this document makes no promise of utility,
returns, or price. It describes a mint program and the exact rules it runs by.

## 2. The gate

Minting and claiming require the sending wallet to hold exactly one `.ai` Agent
ID — the mint contract reads `balanceOf(wallet) == 1` from the registry, live, on
every call. The registry enforces one ID per address and IDs are
non-transferable, so the program quota is effectively per person:

- **Base quota: 10 units in total per Agent ID for the whole program** — free and
  paid combined, across all phases, at most 10 units per transaction.
- Two bonuses can raise the total to **12** (Section 7). Nothing else can.

## 3. Phase 1 — Bonding (units 1–10,000)

The program clock starts when the deployer calls `start()`. Two streams then run
**concurrently from the same moment**:

- **Paid mint**, open to every Agent ID holder at a flat **1.125 USDT per unit**,
  until the bonding deadline (5 days after the free window ends).
- **Free window**, the first **10 hours**: 1,111 units claimable free by Allies
  only (Section 6), one per Agent ID, first-come-first-served. The window closes
  the moment 1,111 are claimed; unclaimed slots lapse and are never reissued.

### 3.1 The opening trigger

When unit 10,000 is minted, in the same transaction:

- The accumulated USDT splits **80% to the liquidity pool / 20% to the
  treasury**. With all 1,111 free slots claimed (8,889 paid units) that is
  **8,000.10 USDT** to the pool and **2,000.025 USDT** to the treasury — and
  these are the minimum figures: every free slot left unclaimed must instead be
  filled by a paid unit to reach 10,000, which only raises both amounts.
- **36,000,000 BAGENT per paid unit** (320,004,000,000 in total) is paired into
  the official PancakeSwap v2 BAGENT/USDT pair.
- The **LP tokens are burned** — minted directly to the burn address, so the
  liquidity can never be withdrawn by anyone. The same happens to the LP of
  every Phase 2 pool addition. Trading opens.
- The opening price implied by these amounts is **0.000000025 USDT per token**,
  i.e. a value of **1.25 USDT per unit**. Market prices after opening move freely
  in both directions.

### 3.2 Failure and refunds

If 10,000 units are not reached by the deadline, bonding fails. Every paid minter
can reclaim **100% of what they paid** by calling the refund function once; free
claims are void. A full refund is possible because the treasury share is held
inside the mint contract for the entire bonding phase and released only in the
opening transaction. For BNB payers, the refund equals the USDT value their swap
obtained (Section 3.3).

### 3.3 Paying with USDT or BNB

- **USDT:** approve the mint contract, then call the paid mint with a `maxCost`
  cap. The contract pulls exactly the quoted cost.
- **BNB:** the mint contract quotes the BNB amount from the **Chainlink BNB/USD
  feed plus 1% headroom** (`bnbQuote`), swaps exactly that amount to USDT on the
  WBNB/USDT pair inside the same transaction, and mints against the proceeds.
  - If the swap lands below the USDT cost, the whole mint **reverts** and no BNB
    is spent beyond gas. Conversion friction is the minter's risk.
  - BNB sent above the quote is **refunded in the same transaction**.
  - USDT received above the cost is not returned to the payer: while bonding it
    is escrowed with the treasury share (and forms part of that payer's refund
    if bonding fails); once the pool is open it goes to the treasury.
  - A plain BNB transfer to the mint contract reverts; it does not mint.
- In both currencies, `maxCost` is a hard cap: a mint that would exceed it
  reverts and charges nothing.

### 3.4 The free-unit lock

Units claimed free are non-transferable until **1 hour after the pool opens** —
one simultaneous moment for all free claimers. Paid units are never locked.
Official wording, published before minting opens:

> Free units are non-transferable until 1 hour after the pool opens; paid units
> are never locked. At the opening price, 1 free unit equals $1.25 by pool
> arithmetic — its value afterwards moves with the market. This rule is
> published before minting opens and applies equally to every free claimer: no
> free token can be sold before paid participants have had their first hour of
> trading.

## 4. Phase 2 — Open market, continuous mint (units 10,001–44,400)

Minting continues alongside trading with **no time limit and no waves**. It ends
only when all 44,400 units are sold; if demand pauses, the mint simply waits.
Each unit still splits 80/20 and mints 50,000,000 BAGENT.

**Price.** A tier schedule sets a ceiling: **$1.25** for the first 100 Phase-2
units, rising **$0.0025 per 100 units** to **$2.1075** for the last tier (344
tiers). The actual price of a mint is:

```
min(tier price, 0.97 × min(spot price, 60-minute TWAP))
```

computed per unit from the official pair at the start of the transaction — by
construction, the mint price is below the market reference at that moment. **The
Phase 2 mint price has no floor**: in a falling market it can be below the
Phase 1 price of $1.125.

**Floor-line.** Each Phase 2 mint transaction also burns tokens from the pool
side to keep the circulating value near **1.8× the total actually paid in**,
capped at 0.8% of pool tokens per transaction and never below a pool reserve of
11,666,666,667 tokens. The floor-line acts only inside mint transactions: when
minting pauses, it does nothing, and it is not a price guarantee of any kind.

## 5. Trading tax and the tax splitter

On transfers involving the official pair only: **buy 1%**, **sell 2%** (1%
burned, 1% to the tax recipient). Wallet-to-wallet transfers are untaxed. The
rates are constants in the token code and cannot be changed by anyone. The tax
recipient is an immutable splitter contract; no function exists to redirect it.

The splitter forwards what it receives when anyone calls its permissionless
`distribute()` function: 100% to the treasury before activation, and 25% / 75%
after (below).

**Announced in advance — the Phase 4 switch.** After the NFT Holder collection
launches (Section 8), the treasury Safe registers the staking contract address
in the splitter — contract addresses only, subject to a public **48-hour
timelock** — and then calls `activate()` once. From that moment the non-burn tax
stream is re-split permanently: **25% to the treasury, 75% to staking rewards**.
The switch is one-time and one-way: it cannot be reversed, repeated, or pointed
anywhere else. The burn share never changes. This switch is announced here,
before launch, so no participant can be surprised by it.

## 6. Allies and the free mint

A wallet is an Ally of an origin token if it currently holds at least the
threshold amount:

| Origin | Contract | Threshold |
|---|---|---|
| JAGENT | `0x8e6442663A4F8C50b6132c68d42A30E7DFE4Ae15` | 2,000,000 |
| CENSUS | `0xfC96737a40DBf169782E60539B82d4eE17f25708` | 10,000,000 |
| GANG | `0x0c6302401aa5325C2E36F170f52C00B1d220B405` | 4,000 |

Verification runs through the eligibility API (`api.basedagent.live`): it checks
the `.ai` ID and the live balance and issues a **single-use signed voucher**
(address-bound, 10-minute expiry). The mint contract additionally re-checks the
live balance at claim time — a voucher alone is never enough.

The only mint advantage of Ally status is eligibility for **one of the 1,111
free units**. There is no extra quota, no early access, and no discount. Outside
the mint, Ally minters can claim the Genesis Badge (Section 8).

## 7. Bonuses

- **Invite (+1 unit).** A referrer is bound at an invitee's first paid mint.
  Once the pool has been open for 7 days, the referrer can claim +1 unit of
  quota if the invitee minted at least 1 paid unit and still holds at least
  half of what they minted. Once per invitee, enforced entirely on-chain — no
  voucher, no API.
- **Poster SBT (+1 unit).** Inside the free window only, a successful free
  claimer can claim the Poster SBT (soulbound, one per wallet, at most 1,111
  ever issued — and never issued again after the window closes). The flow runs
  through the holder's agent: the API issues an address-bound claim code and
  an X post link whose draft already contains the code; the holder opens the
  link, presses Post, copies the post URL and hands it back to their agent;
  the API then fetches the post itself and verifies it (code match, author
  match, account at least 30 days old, posted after the code was issued,
  single-use), signs the voucher, and the agent claims on-chain. Posting is
  **never** a condition of the free claim itself.

Maximum attainable quota: **12 units**.

## 8. Soulbound artefacts, NFT Holder, staking (Phases 3–4)

- **Genesis Badge** (soulbound): claimable by Ally minters, one per wallet,
  labelled with its origin. Its class follows the wallet's total minted units:
  **Member** (1–4), **Core** (5–9), **Founder** (10+). In Phase 3 it doubles as
  a priority key (below).
- **Poster SBT** (soulbound): Section 7.
- **NFT Holder** (Phase 3, transferable): eligibility for a free claim is a
  balance of at least **250,000,000 BAGENT at a single announced snapshot** —
  balance at that moment is all that counts; reaching the threshold afterwards
  does not create eligibility, and selling before it removes it. Total cap
  **3,333**, issued in strict order: (1) guaranteed free claims for Genesis
  holders who meet the snapshot, (2) a public free-claim window for
  snapshot-eligible wallets, first-come-first-served, (3) a paid mint from any
  remaining cap — if the cap is exhausted in the free phases, the paid mint
  never opens. Every window is time-boxed and never extended. Snapshot timing,
  window lengths and the paid price are announced before Phase 3 opens.
- **Staking** (Phase 4): a wallet holding **at least one NFT Holder** may stake
  BAGENT — the NFT is the licence; extra NFTs add nothing, and the Genesis
  Badge carries no multiplier. Minimum stake **10,000,000 BAGENT**; the amount
  above that is free. Rewards are the 75% tax stream of Section 5, distributed
  in **weekly epochs** from tax actually collected (a lag of one epoch, from
  realised balances only — nothing is printed and nothing is estimated).
  Distribution is pro-rata to **weight = stake × lock multiplier**, where the
  staker chooses the lock per position: **1 day ×1, 3 days ×1.5, 7 days
  ×2.25**. When a lock expires, the position keeps earning at the base weight
  ×1 until it is re-locked or withdrawn. Rewards accrue only while the wallet
  keeps holding at least one NFT. At claim time, a staker may take BAGENT, or
  have only their own share converted to USDT at their own cost. Unclaimed
  rewards expire after 12 months. The project's own wallets (treasury Safe,
  owner, cold, deployer, signer) are permanently excluded from staking. Staking
  opens only after the pool has grown beyond its opening size. No yield figure
  is promised anywhere: rewards depend entirely on trading volume.

## 9. Contracts and authority

Five contracts at launch: the **token**, the **tax splitter**, the **mint**,
the **Genesis Badge**, and the **Poster SBT**. Addresses are published at
launch. The authority surface is deliberately empty:

- The only address that can mint BAGENT is the mint contract; total issuance is
  bounded by the token hard cap and the 44,400-unit program cap.
- There is **no** operator withdrawal or sweep of user funds, **no** blacklist,
  **no** tax-rate or tax-recipient setter, **no** proxy or upgrade path, and
  **no pause function anywhere**.
- The program clock has exactly one trigger: the deployer wallet's one-time
  `start()` call. After it, no one — deployer, Safe, or anyone else — can stop,
  pause, or re-arm the program.
- There is no ownership to renounce: no contract has an owner (no Ownable),
  and the deployer pointers in the token, the mint and the splitter were
  zeroed during deployment itself.
- Signing keys are used only for eligibility and poster vouchers; voucher
  acceptance ends permanently when Phase 1 resolves. The treasury is a 2-of-3
  Safe (owner, cold storage, deployer); its last designed act is the Phase 4
  splitter activation of Section 5.

## 10. Risks and honest limits

- **No third-party audit.** These contracts have **not** been audited by an
  external firm. Internal adversarial testing (a red-team programme covering 16
  documented attack hypotheses) and static analysis were performed, and their
  reports are published with the contracts. Read them before participating.
- **No external source of value.** Returns to any participant are funded by
  later mints and trading. If minting stops, the floor-line stops with it, and
  the price is whatever the pool says it is.
- **A thin opening pool.** 8,000.10 USDT is small by design of the template
  economics; early prices will be volatile, and the simultaneous unlock of free
  units one hour after opening can move the price sharply.
- **Trust points that remain.** The eligibility attestation is the
  eligibility API's word, backed by a single signing key until Phase 1
  resolves; the Safe can replace that key during bonding. The attested
  balance is a live balance that the mint contract re-reads on-chain at
  claim time, so a wrong attestation cannot mint — it can only withhold. The NFT snapshot
  block in Phase 3 is chosen by the operator. Everything else in this document
  is enforced by the contracts themselves.
- **Irreversibility.** The program cannot be paused, upgraded, or rolled back.
  A bug discovered after `start()` cannot be patched; this is the deliberate
  price of having no operator controls.

*Read the contract, skip the trust.*