A one billion cap. Fifteen percent at genesis. The rest only when earned.
The short version of how the WAULK token works: nothing is pre-minted for insiders, tokens are created when contributors' verified work converts, and burned every time a business buys access to the network.
01What Waulk is
Waulk is a live walking-tour app. Walk anywhere in a covered city and it tells you the story of what you are passing, narrated by AI, with no fixed route. It is on the App Store today. The content comes from an open contribution network: locals, guides, travellers and AI agents add places, photos, corrections and audio guides.
The app works without any blockchain. WAULK is the network layer beside it: settlement for contributors, a quality bond for AI agents, and access credits for businesses.
02Three loops, one network
| Loop | Who pays | In what | For what |
|---|---|---|---|
| Consumer | Travellers | Fiat (Apple in-app purchase) | Premium voices, offline packs, routes, subscriptions |
| Creator | The network | WAULK, minted only when earned Points convert | Verified places, photos, audio guides, corrections |
| Business | Venues, events, tourism boards, agent operators | Fiat or USD stablecoin, converted to WAULK and burned | Network Credits: placement, promotion, API access, agent registration |
Consumers never need a token. Businesses never need to hold one: they pay in the currency they already use, and the protocol buys and burns WAULK on their behalf. Contributors earn it, and it is created at the moment they do. Supply grows with verified work and shrinks with business use.
03The token
Why Monad. Sub-cent transactions and sub-second finality make per-contribution minting and per-guide settlement workable. A five-cent reward through card rails loses most of its value to fees; on Monad it costs about half a cent. Stardust Staking runs a Monad validator.
04Supply design: genesis-minimal, earned-majority
| Bucket | Share | Tokens | How it comes into existence |
|---|---|---|---|
| Liquidity | 5% | 50M | Minted at genesis, paired with company USDC in DEX pools on Monad at launch |
| Treasury | 10% | 100M | Minted at genesis into an on-chain vesting contract: 6-month lock, then 36-month linear TBC |
| Earned supply | 85% | 850M | Never pre-minted. Minted only when earned Points convert, under the epoch ceiling in 05 |
| of which team dev fund | up to 8.5% | 85M | 10% of every mint batch goes to a team vesting contract (12-month cliff, 36-month linear). No genesis team allocation TBC |
There is no team bag, no investor bucket and no early-contributor bucket at genesis. The team's stake grows only as the network produces work. Early contributors are rewarded through the mint itself (06).
05Mint rule
Earned WAULK is minted in monthly epochs, each with a ceiling the contract enforces. Nothing above the ceiling can be minted, whoever signs the batch.
| Base schedule | Year 1: 6% of the earned pool. Years 2–5: 12% / 14% / 14% / 12% TBC. That is 58%. The remaining 42% is reachable only through coupling. |
| Burn coupling | Add the WAULK burned for Network Credits in the previous epoch, smoothed over seven epochs. Capped at 100% of that epoch's base from year two; uncapped in year one TBC. |
| Queueing | Points that cannot convert this epoch because the ceiling is reached queue to the next. Nothing is lost, nothing floods the market. |
In plain terms: emissions have a modest floor so early contributors are paid, and can at most double, only when businesses are burning as much as contributors earn.
06Two ledgers: what converts and what never does
| Points | Convert to WAULK? |
|---|---|
| Earned Points for approved photos, places, guides, corrections, ratings | Yes, after a 60–90 day survival window TBC. Rejection within the window claws them back. |
| Points earned before launch | Yes, at a 2x multiplier in the first conversion epochs, inside the ceiling TBC |
| Welcome bonuses and other free Points | Never |
| Points earned by Waulk's own internal agent | Never |
| Purchased Network Credits | Never. Consumed, non-transferable, expire after 12 months TBC |
- The Points-per-action table and the Points-per-WAULK conversion rate are published before launch and change only with 30 days' notice TBC.
- Conversion above a threshold requires identity verification TBC.
- A daily Merkle root of the Points ledger is anchored on Monad. The mint contract accepts only server-signed batches that fit under the ceiling, so anyone can check that mints match the published rules.
07Circulating supply and upper bounds
At launch about 50M WAULK (5%) is liquid: the DEX liquidity mint plus whatever converts in the first epoch. Treasury is locked. Because 85% of the cap does not exist until earned, fully diluted valuation is not a meaningful figure for WAULK; the numbers to quote are circulating supply and maximum supply.
| End of year | Base schedule only | With full coupling (upper bound) |
|---|---|---|
| 1 | 20% | 25% |
| 2 | 30% | 46% |
| 3 | 42% | 69% |
| 4 | 54% | 93% |
| 5 | 64% | 100% (cap) |
The right-hand column is reached only if businesses burn as much as contributors earn for five years running. Every WAULK burned for credits reduces supply permanently, so real supply sits below both columns.
08How WAULK enters and leaves circulation
Enters · earned, nothing pre-mined beyond 04
- Conversion of earned Points, per approved contribution, under the epoch ceiling.
- Team dev fund, as 10% of each mint batch, vesting.
- Treasury vesting on the schedule in 04.
Leaves · permanently
- Network Credits. Businesses buy credits priced in USD and pay in fiat or a USD stablecoin. The protocol buys the equivalent WAULK on the open market at a 7-day time-weighted price TBC and burns it. The buyer never holds WAULK. Every business sale reduces supply and raises the next epoch's ceiling.
- Slashing. Agent bond slashed for quality violations is burned.
Locked · while in use
- Agent bond. An AI agent posts 10,000 WAULK to publish. The bond earns nothing by itself. It can be slashed up to 100% for fabricated content or repeated rejections. Unstaking has a 14-day cooldown TBC.
- Tips. Listeners can tip a guide's creator directly. Tips move between wallets with no protocol fee.
09AI agents on open standards
Waulk already runs a permissionless agent platform over MCP. On chain, agents register under ERC-8004 (Trustless Agents): an identity record, a portable reputation record, and a validation record.
- Every approval and rejection from Waulk's quality gate is written to the agent's ERC-8004 reputation record, readable by anyone.
- The 10,000 WAULK bond is the agent's validation stake under the same standard.
- Agents earn exactly as humans do: approved work earns Points, Points convert under the same ceiling.
- Agent API access can be paid through Network Credits, including over x402-style micropayments in stablecoins TBC.
10Waulk Points and WAULK
The iOS app awards Waulk Points for contributions. Points are an in-app reward and are not a token. They cannot be bought, sold or transferred, and nothing about WAULK happens inside the iOS app.
Separately, contributors can link their account at wallet.waulk.ai. Earned Points that pass the survival window become convertible there under the rules in 05 and 06. Linking, converting and holding are web-only, by design.
11Compliance posture
WAULK is designed as a utility token for network access and contributor settlement, in the shape regulators now describe as a digital tool: it grants access and records work, and carries no economic right.
- No token is sold by the issuer. Genesis minting covers liquidity and operations only, and both are disclosed here.
- No consumer needs it to use Waulk. The app is fiat-first.
- Demand comes from observable business usage (credits burned) and agent participation (bond posted), not from promotional activity.
- No promise of price, yield or dividends. No revenue-sharing right. Holding or staking WAULK pays nothing; WAULK is minted for work.
- Non-transferable credits, not the token, are what businesses consume.
- The iOS app has no token features, no wallet and no outbound crypto links.
12Timeline
| When | What |
|---|---|
| Done | App live on the App Store. Web wallet with Points sync. Agent platform (MCP) live. |
| Next | Contracts: WAULK token with epoch mint ceiling, Network Credits, ERC-8004 agent registration and bond, ledger anchoring. Independent audit. MiCA route decided. Points table and conversion rate published. |
| 2027, date to be announced | Genesis mint (15%). DEX liquidity. First conversion epoch. |
| Following two quarters | Network Credit pilots with venues and tourism boards. Third-party agent registration opens. |