WKLY: what the token does
A weekly burn of the protocol fee, access to what is capped in the product, and a reserve that is spent, not replenished. Nothing here is a statement about price.
WKLY does not exist yet. It launches on PONS.family after the Weeklies market has settled at least one Friday on Robinhood Chain mainnet. Until the token address appears in Contracts below, any token called WKLY or Weeklies is not ours.
What WKLY is
WKLY is the token of the Weeklies protocol. It is launched on PONS.family, the token launchpad of Robinhood Chain, with a fixed supply of 1,000,000,000 and no mint function.
The protocol works without it: options are priced, sold and settled in USDG whether or not anyone holds WKLY. The token does three things, and each can be checked on-chain:
- It burns with every ticket live. The protocol fee — 10% of every option premium — buys WKLY on the market and sends it to the burn address every week after settlement. All of it, not a share. Supply only goes down.
- It keeps traders in the game live. A ticket that expires worthless returns part of its premium in WKLY, and holders vote on parameters within on-chain limits.
- It will unlock what is capped in the product next. Seats in the capped vault, a discount on the protocol fee paid in WKLY that burns, the right to add a ticker.
What WKLY is not. It is not a claim on the vault’s USDG, on premiums or on payouts. The protocol fee is not distributed to holders; it buys and burns tokens. WKLY does not govern the settlement rule, the 30% payout cap or the protocol keys.
Supply
- Total supply1,000,000,000 WKLY, minted once into the launch curve; no mint function.
- LaunchpadPONS.family, quoted in ETH.
- Team allocationNone from the launchpad. The protocol owner buys up to 5% on the curve in the launch transaction, at the curve’s opening price, with the owner’s own ETH, and publishes the transaction (see Reserve).
- LiquidityAfter the curve fills, liquidity moves to a Uniswap v4 pool and is locked permanently; neither the team nor PONS can withdraw it.
- Burn address0x000000000000000000000000000000000000dEaD — the burned total is its balance.
Friday Burn
The protocol fee — 10% of every option premium, in USDG — goes to the burn, whole. From the day the burn contract becomes the market’s treasury, the market sends the fee straight to it; nothing is split off on the way.
Every week, after the market settles and withdrawals are processed, the keeper will spend the whole balance of the burn contract on WKLY and send the tokens to the burn address. The first burn spends everything the contract has received since it became the treasury, including the weeks before the token launch. The transaction, the USDG spent, the WKLY burned and the average price will be listed on this page. If an exchange holiday moves expiry to Thursday, the burn follows the settlement.
What to expect early
The vault opens with a 25,000 USDG cap, so the protocol fee in the first weeks is small — 200 to 500 USDG a week, and that is the size of the burn. There is no other source: the burn grows with the vault caps and with nothing else. This page will show it week by week.
Where the 100% comes from. The market’s treasury address is set by the protocol owner and is visible on-chain. It will point at a contract that can only buy WKLY and send it to the burn address; the contract has no way to send USDG anywhere else. Until that contract is deployed and set, the treasury is the protocol owner’s address. Any change of the treasury address is an on-chain event and is announced in advance.
Utilities
Friday Burn
liveThe whole protocol fee buys WKLY every week after settlement and sends it to the burn address. See Friday Burn.
Pay the fee in WKLY, 50% off
nextThe protocol fee (10% of the premium) will be payable in WKLY at half price, valued at the last Friday Burn’s average price. The 90% that goes to liquidity providers stays untouched: the discount comes out of the protocol’s share only. The WKLY you pay will be burned in the same transaction.
Listing bond
next25 more Robinhood Chain stock tokens have a Chainlink feed but are not listed. Anyone will be able to propose one by burning 1,000,000 WKLY (0.1% of supply). The protocol will list it within 14 days — with the volatility floor and caps that protect the vault — or publicly decline with a reason. The bond is not refunded.
Custom target
laterBurning WKLY will list a strike outside the standard ±10% ladder, up to the protocol’s ±20% limit: the far targets where the multiple reaches 100x.
Signed ticket
laterBurning a small amount will put a signature line or a style on the shareable card of a ticket.
LP seat tiers
nextThe vault is capped at 25,000 USDG and 5,000 USDG per address, so there are five seats at the cap. Staking WKLY will raise your personal cap: tier 1 doubles it to 10,000 USDG, tier 2 quadruples it to 20,000 USDG, always within the vault cap. Stake thresholds will be set before that release and listed here. Unstaking will take 7 days.
Rakeback on losing tickets
liveA ticket that expires worthless returns 10% of its premium in WKLY, valued at that Friday’s burn price. Claims open weekly and never expire. Paid from the rakeback reserve (15,000,000 WKLY) while it lasts; the remaining balance will be shown here.
Referrals
liveBind a referrer once, before your first purchase. The referrer receives 20% of the protocol fee you pay, in WKLY at the Friday burn price. Paid from the referral reserve (10,000,000 WKLY) while it lasts.
LP bootstrap
liveFor 52 weeks from launch, vault depositors receive about 384,615 WKLY per week in proportion to their shares at the Friday clean point, on top of premiums. Paid from the LP reserve (20,000,000 WKLY).
Governance
liveToken votes on which tickers to list next, on volatility floors within the on-chain bounds, and on what happens to unspent reserves. See Governance.
Early access
laterStakers will get new tickers and new expiries (daily, earnings night) 24 hours before everyone else.
How it fits together
Buy a ticket → 10% is the protocol fee → all of it is burned on Friday. The ticket loses → 10% of the premium comes back as WKLY. With the next contract release, that WKLY will pay the fee on the next ticket at half price and be burned too: one losing ticket will burn the token twice, and the trader is still here. In the same release, liquidity providers will stake for a seat in the vault, and listing a ticker will burn a bond.
Reserve
The launchpad gives the creator nothing. The protocol owner buys up to 5% of supply — 50,000,000 WKLY — in the launch transaction, at the curve’s opening price, with the owner’s own ETH, and publishes the transaction. If less than 5% is bought, the programmes below keep their proportions. The reserve is spent, not replenished from the protocol fee. Each programme has its own wallet and a published balance; one distributor contract pays all three reward programmes:
- LP bootstrap20,000,000 WKLYWeekly, pro rata to vault shares at the clean point52 weeks from launch
- Rakeback15,000,000 WKLY10% of a losing ticket’s premium, at the Friday burn priceUntil spent
- Referrals10,000,000 WKLY20% of the referred trader’s protocol fee, at the Friday burn priceUntil spent
- Team5,000,000 WKLYOn-chain vesting contract, linear12 months from launch
When a programme is spent it ends. The team may top it up from its own funds; the protocol fee never goes to rewards — it is burned, whole.
Governance
Votes run on Snapshot; the protocol owner executes the result. Voting weight is the WKLY balance; once staking ships, it is the staked balance.
What is voted on: which feed-covered tickers to list next; volatility floors, within the bounds enforced on-chain; the use of unspent reserves.
What is not voted on: the settlement rule (last Chainlink round at or before expiry), the 30% payout cap, the treasury address, the keys and their limits. Those change only with an audit and a new contract version.
A multisig and a timelock for execution are planned with the audit.
Risks
- WKLY gives no rights to protocol assets. No share of the vault, no share of revenue. If the protocol stops, buybacks stop.
- The treasury is an address set by the owner. At the token launch it will be a contract that can only buy and burn; that is what “100%” rests on. Until that contract is deployed and set, the treasury is the owner’s address. Any change is an on-chain event, announced in advance; the history of burns is on-chain too.
- Early burns are small — 200 to 500 USDG a week at the 25,000 USDG vault cap — and grow only as vault caps grow.
- The reserve is concentrated. Up to 5% of supply is bought by the protocol owner at launch. The addresses, programmes and vesting are public; the concentration is real.
- The pool is not ours. Liquidity lives in a Uniswap v4 pool created by PONS with its hook contract, locked permanently. We depend on that code.
- Nothing here is a price statement. Supply goes down by construction; what the market does with that is not something the protocol controls or predicts.
- Jurisdiction. Non-US only, like the stock tokens and like Weeklies itself. Taxes are the holder’s responsibility.
Contracts
Published at launch. Until then this section lists what will appear, so you know what to check.
- WKLY tokenaddress, on Robinhood Chain (chain ID 4663), verified on robinhoodchain.blockscout.com. The only genuine WKLY is the one listed here.
- BuybackBurnerthe market’s treasury address: receives the whole protocol fee and can only buy WKLY and send it to the burn address.
- MerkleDistributorpays the LP bootstrap, rakeback and referral programmes; weekly roots, claims never expire.
- Referralsthe one-time referrer binding.
- Reserve wallet, programme wallets, team vestingaddresses and balances.
- Launch transactionthe PONS launch with the owner’s purchase of up to 5%.
- Burn address0x000000000000000000000000000000000000dEaD
FAQ
- Does holding WKLY pay me a share of revenue?
- No. The protocol fee buys and burns tokens; nothing is distributed to holders. The utilities are access, discounts and rewards from a fixed reserve.
- Can the team mint more?
- No. The token has no mint function; the whole supply was created once into the launch curve.
- Where does the reserve come from?
- It is bought on the launch curve with the protocol owner’s own ETH, in the launch transaction, at the opening price. The transaction is public.
- Is the buyback guaranteed?
- The market will send the whole protocol fee to a contract that can only buy and burn, and the keeper will run it every week. The treasury address can be changed by the owner — every change is an on-chain event announced in advance — and the buyback stops if the protocol stops. Every burn will be an on-chain transaction listed here.
- Why burn instead of paying holders?
- A burn needs no claim, no snapshot and no promise of income; it is a transfer to an address nobody controls, and anyone can verify it.
- What happens when a reserve programme runs out?
- It ends. The team may top it up from its own funds; the protocol fee is never redirected to it.
- Does the fee discount cost liquidity providers anything?
- No. Their 90% of the premium is unchanged; the discount comes out of the protocol’s 10%.
- Why is listing a ticker not fully permissionless?
- Every ticker needs a volatility floor and exposure caps that protect the vault. The bond makes proposing permissionless and guarantees an answer within 14 days; fully permissionless listing comes with an on-chain volatility oracle.
- Which WKLY is the real one?
- The one whose address is in Contracts. Launchpads fill with copies of any name; check the address, not the ticker.
- When does the token launch?
- After the Weeklies market has settled at least one Friday on mainnet. The date will be announced on this page.