Introducing PASSIVE

What Passive Investor does

Passive Investor connects PASSIVE trading activity with SPY rewards for eligible wallet holders. PASSIVE is the token you hold; SPY is the reward asset you can claim.

You keep PASSIVE in your wallet. There is no staking deposit, and holding alone does not require an approval transaction. Rewards are calculated for defined holding periods and become claimable after their allocations are published.

The flywheel, step by step

First, buys and sells generate creator revenue denominated in SPY. That revenue is collected into the rewards vault.

Second, a reward period is evaluated using eligible wallet balances and how many blocks those balances were held. A funded allocation is published, allowing each included wallet to claim its SPY.

Separately, the buyback allocation purchases PASSIVE from the market and places the purchased tokens into a five-year vesting vault.

One billion initial tokens

PASSIVE has an initial supply of one billion tokens. This initial supply is different from the eligible supply used to calculate rewards: trading pools, the bonding curve and designated protocol vaults are excluded from reward calculations.

Buybacks purchase existing tokens. Tokens in vesting locks still count toward total supply; a buyback lock does not permanently destroy them.

What determines your reward

Your allocation depends on three quantities: the SPY budget assigned to the period, your PASSIVE balance across that period, and the combined holding weights of all eligible wallets.

A wallet can receive a larger allocation by holding more PASSIVE or holding it for more blocks within the same period. The final percentage also depends on other eligible wallets’ holdings.

What you receive

Wallet-holder rewards are SPY tokens. Bought-back PASSIVE goes to the vesting vault rather than being added to every holder’s wallet.

Claiming SPY does not increase your PASSIVE balance or your weight in later periods. Your later weight continues to follow the PASSIVE actually held in your wallet.

Where to begin

Guide 2 explains SPY and how trading creates reward revenue. Guide 3 explains the allocation formula and how to claim. Guide 4 covers buybacks and vesting. Guide 5 explains the vault’s accounting, publication process and claim verification.