# Token & Curve

`$MTAPE` has a total supply of 1,000,000,000, 18 decimals. At launch the supply sits on Flap's curve. These contracts do not mint it and do not keep an inner book. Supply identity: [Design Goals](/goals).

Buys and sells pay 5% (`buyTaxRate` and `sellTaxRate` are 500). Flap takes its commission out of that tax, then sends the remainder to `MicroTapeTreasury`. The tax split is `mktBps = 10000`. `dividendBps`, `lpBps`, and `deflationBps` are 0. Holder `$BEM` is miner output deposited later. It is not a slice of this tax.

The quote asset is BNB. When 800,000,000 tokens have been sold, Flap migrates the remainder to a Pancake V2 pool. That threshold is Flap's `FOUR_FIFTHS` setting. This repo does not receive the LP and does not promise it is sent to `0xdead`.

`$MTAPE` is not a claim that redeems treasury BNB. Flap's curve sets a fill price, not a NAV.

## Where the 5% goes

| Slice | Destination |
|---|---|
| Flap commission | Taken from the tax before the split. On the fork we ran, this was 5% of the tax |
| Remainder, `mktBps = 10000` | Dispatched as BNB to the treasury. Buys Firsto parts |
| `dividendBps` | 0. No automatic swap into a dividend token |
| `lpBps` | 0. No ongoing LP add from the tax |
| `deflationBps` | 0. No buyback burn from the tax |

On a buy, tax is 5% of the BNB that entered. After a 5% commission on that tax, the treasury receives 4.75% of the buy. Flap sets the commission. A failed dispatch would drop the BNB into Flap's fee bucket, so the treasury `receive()` is empty and must not revert.

While the token is still on the curve, Flap also charges its own protocol fee beside this tax. That fee does not enter the treasury, and it stops after migration. Sources: [Capital Flows](/flows).

```mermaid
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sequenceDiagram
  participant Trader
  participant Portal as Flap Portal
  participant Proc as Tax processor
  participant Treasury
  Trader->>Portal: buy or sell
  Portal->>Proc: 5 percent tax
  Note right of Proc: Flap commission first
  Proc->>Treasury: remainder as BNB
```

Sells pay the same 5% tax. BNB out is whatever Flap's book or the later pool returns. The treasury does not custody that book.

## Profile metadata

Name and symbol are stored on the token. Image, description, and links (Telegram, Twitter, website, and the extra fields on Flap's create form) are an IPFS JSON. The launch argument `meta` is only that URI. The same URI cannot be used by a second token. Those fields do not set the treasury, the tax, or the dividend token.

## Curve and migration

Flap's curve supply is 1,000,000,000. This launch migrates at 800,000,000 tokens sold, through Flap's V2 migrator, onto Pancake. Inner buys and sells then move to that pool.

The tax window is 99 years. For one day after migration, a transfer that touches any pool pays the 5% tax. After that day, only the main pool does, until the window ends.

Migration confirms that the sold-supply threshold was reached. It does not guarantee later depth or price. This project does not add a second migration and does not promise follow-on liquidity.

## Transfers and the dividend interface

Every transfer updates the holder's share on the Flap Dividend. The reward token of that contract is `$BEM`. With `dividendBps = 0`, transfers do not swap tax into `$BEM`. They only keep the share record so a later deposit can be split.

Balances below 10,000 `$MTAPE` have a share of 0. Exactly 10,000 is eligible. Portal, the token contract, the zero address, the dead address, and pools are excluded. Claims: [Dividends](/dividends).