# Glossary

Terms are defined here once. Other pages use these identities and do not rewrite them.

| Term | Meaning |
|---|---|
| `$TAPE` | This launch's token. Total supply 1,000,000,000, 18 decimals. It meters `$BEM` claims. It is not a redemption claim on treasury BNB. |
| Inner curve | The constant-product book inside `MicroTapeFund`. Quote asset is BNB. Closes at graduation. |
| Virtual quote | A 4.5 BNB offset on the quote side. Sets an opening price. Cannot be sold out. |
| Real quote | Net BNB that has entered the curve and can be sold out. Graduation is allowed at 18 BNB. |
| Graduation | Close the inner book once real quote hits 18 BNB, then seed Pancake. It only says the number was reached. |
| Launch surcharge | Buy-only tax from `launchedAt` for 5 seconds, decaying to 0. Enters the treasury. Sells do not pay it. |
| Trade tax | 5% on this launch, immutable after deploy. Contains the miner share and the protocol fee. |
| Miner share | 4%, inside the 5%. Enters the treasury. |
| Protocol fee | 1%, inside the 5%. Does not enter the treasury. |
| Treasury | `MicroTapeTreasury`. Receives tax BNB. Holds parts, circuits, and `$BEM` payable. |
| Firsto | Part order book. The treasury buys NAND and LATCH here. |
| Gates | ERC-1155 parts. NAND is tokenId 0. LATCH is tokenId 1. |
| Tape-out | Burn 1 NAND + 9 LATCH, mint a circuit NFT owned by the treasury. |
| TapeOut | Protocol on BNB Chain. Handles tape-out. Miners emit `$BEM` from it. |
| PodMining | Mining contract. Circuit NFTs start and harvest here. |
| `$BEM` | Miner reward token, 8 decimals. Exogenous to `$TAPE`. |
| Circulating supply | `$TAPE` that participates in `$BEM` splits. Excludes inner inventory and the pair balance. |
| `accBemPerShare` | Accumulated `$BEM` per share. Scaled by `1e36`. |
| Claim floor | 1,000 `$TAPE`. Below this, no accrual and no claim. |
| kitBuyer | The only address that can spend treasury BNB on parts. The contract does not check fill price. |
| Permanent depth | Outer pool after graduation LP is sent to `0xdead`. Cannot be withdrawn. Cannot be rebalanced. |
| MicroTapeFund | Curve and fee contract for this launch. |
| MicroTapeTreasury | Miner treasury. Receives tax BNB, holds parts and circuits, pays `$BEM`. |
| MicroTapeFactory | One-shot launcher. `create` may run once. |

How these identities differ from adjacent designs: [Comparison](/comparison).