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BotBot Capital

Fleet Pools

Every fleet has three parts: a token, a reserve, and a pool.

The reserve

  • Holds the fleet's cash in USDC.
  • Part of the raise waits in a vendor escrow until robots are working.
  • Fills from the launch sale, machine revenue and part of the levy.
  • Cannot be withdrawn by anyone, including the manager.
  • Can only pay sell-backs, or move to approved yield.

MAV

MAV=cash+vendor escrow+robots−pool loantokens held by people\text{MAV} = \frac{\text{cash} + \text{vendor escrow} + \text{robots} - \text{pool loan}}{\text{tokens held by people}}

Cash is reserve, yield sleeve and pool cash. Robots count at cost less wear: each loses value in a straight line over its working life, set per robot type at launch (for example 48 months).

MAV goes up from machine work, levy income and yield. It goes down slowly as robots wear. It does not move when the market price moves.

The floor

New tokens are only created while backing stays at or above 1 USDC per token. If the price drops under MAV, holders sell back to the reserve and the tokens are burned. That pushes MAV per remaining token up.

The pool

One pool per fleet, fleet token against USDC. It is the only place the token trades. See Hook Rules.