$BCF Tokenomics
$BCF is the governance and productivity token of the Big Cousin protocol. Its supply is fixed, its emissions are curve-bounded, and its long-run velocity is compressed through a 4-way sink: locking, buybacks, fee burn, and insurance escrow.
Launch pricing
Launch is priced on circulating supply, not on fully diluted value. With 84.0M $BCF in circulation at TGE, a $1,000,000 starting market cap implies a launch price of $0.011905. The private round is struck at half that valuation.
| Round | Valuation (circ.) | Price / $BCF | Unlock |
|---|---|---|---|
| Private | $500,000 | $0.005952 | 100% linear over 10 days |
| Launch (TGE) | $1,000,000 | $0.011905 | Open market |
P_private = V_private / S_circ = 500,000 / 84,000,000 = $0.005952 P_launch = V_launch / S_circ = 1,000,000 / 84,000,000 = $0.011905 Allocation(x BNB, p_BNB) = x · p_BNB / P_private Ticket bounds = 1 BNB ≤ x ≤ 8 BNB TGE liquid = 0 Vested = 1.00 · Allocation, linear over 10 days
Allocation
| Bucket | Allocation | % | Cliff | Vesting |
|---|---|---|---|---|
| Community Emissions | 500,000,000 | 50.0% | None | 10-year decay curve |
| Ecosystem / LPs / Airdrops | 150,000,000 | 15.0% | None | Discretionary, 5-year cap |
| Insurance & Safety Module | 80,000,000 | 8.0% | None | Locked in insurance vault |
| Team & Founders | 150,000,000 | 15.0% | 12 months | Linear over 36 months |
| Early Investors (Seed + A) | 80,000,000 | 8.0% | 6 months | Linear over 24 months |
| Treasury (DAO-controlled) | 40,000,000 | 4.0% | None | Streams unlocked by governance |
Genesis unlock schedule
Circulating supply at TGE is intentionally low (8.4%) to align long-term with dividend and fee revenue. The unlock schedule below shows the cumulative circulating figure at the end of each year, assuming no additional community emissions beyond the base curve.
| Year | Emissions | Vested unlocks | Cumulative circulating | % of max |
|---|---|---|---|---|
| Y0 (TGE) | 0 | 84.0M | 84.0M | 8.4% |
| Y1 | 72.5M | 70.0M | 226.5M | 22.7% |
| Y2 | 64.6M | 97.5M | 388.6M | 38.9% |
| Y3 | 57.5M | 37.5M | 483.6M | 48.4% |
| Y4 | 51.2M | 0 | 534.8M | 53.5% |
| Y5 | 45.6M | 0 | 580.4M | 58.0% |
| Y7 | 36.2M / y | 0 | 693.0M | 69.3% |
| Y10 | 0 (terminal) | 0 | 1,000M | 100.0% |
Emission curve
Weekly community emissions follow an exponential decay tuned so that 50% of emissions have been distributed by month 42 and 95% by year 8. The curve is defined by:
E_w = E_0 · e^(−λ · w) where: E_0 = 1,850,000 BCF (week 1 emission) λ = ln(2) / 200 Σ E_w (w=1..520) = 500,000,000 BCF
Sinks — where $BCF goes
- Lock sink. veBCF requires locking $BCF for 6–48 months. At steady state we model 62% of circulating $BCF to be locked, based on comparable ve-protocols (Curve 51%, Velodrome 71%).
- Buyback-and-burn. 30% of protocol fees purchase $BCF on the open market; subscription cash revenue adds to the same bid. Half of the repurchased supply is burned, half funds the reward pool buffer.
- Insurance escrow. The 8% insurance allocation is not tradable; it is only released to make lenders whole after a bad-debt event.
- Pay-to-use. Basket mints, dividend routing, and borrow originations are metered in $BCF — every unit of protocol usage requires the token at the point of action.
- Stake-to-serve. Basket operators must lock $BCF as performance collateral, slashable for NAV misreporting or rebalance failure. Operator bonds scale with basket TVL.
- Fee capture. Lockers receive 70% of protocol revenue in USDC — this doesn't burn $BCF but raises its expected NPV, extending average lock duration.
Steady-state velocity
Circulating(Y5) = 580,400,000 − Locked (62%) = 359,848,000 − Team escrow = 50,000,000 − Cumulative burns = 34,000,000 Effective float = 136,552,000 BCF (≈ 13.7% of max supply)