Funding.
Every buy and every sell takes 4%. 90% of what is collected is USDC and goes to the Circle agent wallet, the keeper.
Every trade buys the stocks. Every holder owns them.
Protocol pulse
Keeper USDC
—
Starts when the book lists.
Stocks bought
—
Starts when the book lists.
Holders
—
Starts when the book lists.
Last cycle
—
Starts when the book lists.
Top of book
4% tax on buys and sells, plus a 1% pool fee. 90% rewards. 10% Argus.
Rewards
90%
Keeper wallet. 10% of it goes to the creator. The rest buys the book.
Argus
10%
Argus keeps this share of the tax and of the pool fee.
How the loop closes
Every buy and every sell takes 4%. 90% of what is collected is USDC and goes to the Circle agent wallet, the keeper.
The Circle Agent Wallet buys the stocks. 5% of that USDC farms in Circle Earn. Holders get the stocks in the same proportion as their $SFOLIO.
Holders farm those stocks on Morpho, Aave V4, and Uniswap — or put idle USDC in Circle Earn vaults on Yield.