Where Issuance Actually Happens: NARA Contracts
Why This Post ExistsMost protocol writing explains intent. This post documents what the contracts actually do. Everything below is verifiable in code.Fixed Supply, Conditional ReleaseNARA has a fixed maximum supply of 3,333,333 tokens, created once at deployment. There is:No mint functionNo emissions toggleNo admin-controlled issuanceAll tokens (except a minimal liquidity seed) are placed into a reward pool and are released only through participation. If no one participates in an epoch, no to...
Where Issuance Actually Happens: NARA Contracts
Why This Post ExistsMost protocol writing explains intent. This post documents what the contracts actually do. Everything below is verifiable in code.Fixed Supply, Conditional ReleaseNARA has a fixed maximum supply of 3,333,333 tokens, created once at deployment. There is:No mint functionNo emissions toggleNo admin-controlled issuanceAll tokens (except a minimal liquidity seed) are placed into a reward pool and are released only through participation. If no one participates in an epoch, no to...
Competitive Token Issuance: Simulating Proof-of-Work with ETH
The Problem with Token IssuanceMost token issuance mechanisms emit supply at zero marginal cost—staking rewards, liquidity mining, team allocations. This predictably creates:Persistent sell pressure from recipients with no cost basisMisalignment between holders and issuersPrice discovery driven by sentiment rather than production costProof-of-Work solved this by forcing miners to spend real resources to create supply. Inflation had an explicit, observable price. NARA recreates this dynamic on...
Competitive Token Issuance: Simulating Proof-of-Work with ETH
The Problem with Token IssuanceMost token issuance mechanisms emit supply at zero marginal cost—staking rewards, liquidity mining, team allocations. This predictably creates:Persistent sell pressure from recipients with no cost basisMisalignment between holders and issuersPrice discovery driven by sentiment rather than production costProof-of-Work solved this by forcing miners to spend real resources to create supply. Inflation had an explicit, observable price. NARA recreates this dynamic on...
