# Glossary

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

| Term | Meaning |
|---|---|
| `$MTAPE` | This launch's token. Total supply 1,000,000,000, 18 decimals, on Flap's curve. It meters `$BEM` claims. It is not a redemption claim on treasury BNB. |
| Flap | Launch venue. Portal creates the tax token, runs the curve, migrates to Pancake V2, and owns the Dividend admin. |
| Curve | Flap's book. Quote asset is BNB. This repo does not implement it. |
| Migration | Flap moves the book to Pancake V2 once 800,000,000 `$MTAPE` are sold (`FOUR_FIFTHS`). This repo does not receive the LP. |
| Trade tax | 5% buy and sell. Flap takes a commission from the tax. The remainder is BNB sent to the treasury. |
| `mktBps` | 10000. The whole post-commission tax goes to the treasury. |
| `dividendBps` | 0. No automatic swap of tax into a dividend token. |
| Treasury | `MicroTapeTreasury`. Receives tax BNB. Holds parts and circuits. Deposits mined `$BEM`. |
| 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 `$MTAPE`. Deposited into the Flap Dividend. |
| Flap Dividend | Share ledger bound to this tax token. Reward token is `$BEM`. `deposit` splits the current balance. Holders claim here. |
| Share | Token balance, if it is at least 10,000 and the address is not excluded. Otherwise 0. |
| Claim floor | 10,000 `$MTAPE`. Below this, no new accrual. Already booked `$BEM` can still be claimed. |
| `meta` | IPFS URI of the profile JSON (image, description, links). Not a tax parameter. Cannot be reused. |
| kitBuyer | The only address that can spend treasury BNB on parts. The contract does not check fill price. |
| MicroTapeTreasury | Miner treasury. Receives tax BNB, holds parts and circuits, deposits `$BEM`. |
| MicroTapeFactory | One-shot launcher. `create` and `bindToken` may each run once. |

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