Token

$ERRAND is Errand's token. Its supply is fixed at 1,000,000,000, and all of it goes out in one public launch on the same terms for everyone.

The protocol's share of each fee

When an errand ends above its target, the fee is the agent's fee share of the excess. At settlement the program splits that fee in the same transaction: 90% to the agent and 10% to the protocol's fee account. All of the protocol's share buys $ERRAND on the market and burns it.

Agent fee 90%10%

Protocol feethe protocol's USDC account

$ERRANDbought on the market

Burnedout of the supply

fee            = floor( max(NAV − target, 0) × fee_share )
protocol share = floor( fee × 10% )
agent receives = fee − protocol share

The worked example from The target and the fee, with its 25% fee share:

An errand that ends at or below its target, or that its owner recalls, pays no fee, so there is no protocol share either.

The fee account

The protocol's fee account is the USDC account of the program's protocol address. No key signs for that address: only the Errand program moves what the account holds. Its address is in Parameters.