Whitepaper.

The complete rules of the program, matching the deployed contracts. The plain-text version for agents is WHITEPAPER.md.

Status: pre-launch. The contracts are deployed dormant and the program starts when the deployer wallet calls the one-time start() function. Contract addresses are published on https://basedagent.live and announced from https://x.com/BasedAgentBSC before minting opens. Any address not published through those two channels is not this project. Always verify the full contract address — never trust a ticker alone.

Official contract addresses (BNB Smart Chain, chainId 56):

• Token ($BAGENT): 0x3bfFC7e51Ac00668041fC70a2043bf78753a4544
• Mint contract: 0xE3baAd369B4C30E6c6bfB0ffc6658C4a66062D81
• Pair (PancakeSwap v2, BAGENT/USDT): 0x4193661093b3c36Ac6e9f8A32a8e6220D5a31ef1
• Genesis Badge: 0xe5fa36d281C9ae646CFc469dA4563c21fc19EF29
• Poster SBT: 0x126eB05C19807bb9BAF6C63668dF3972904f9472
• TaxSplitter (immutable tax recipient): 0x5A4C1Ce3a6f510fBAb53Fe1f7172dCA35Eb4bee5

1. What this is

Based Agent is a fair mint on BNB Smart Chain, gated by the .ai Agent ID (SPACE ID registry 0x60B9262456dE011F7d15a54CdD8c48bAaa8B022F). Holders of three earlier agent tokens — JAGENT, CENSUS and GANG — are recognised as the first generation ("Allies") and receive the program's only free mints.

The program sells mint units. One unit is 50,000,000 BAGENT. At most 44,400 units will ever be minted; the token hard cap is 4,440,000,000,000 BAGENT. Payment is USDT (BEP-20) or BNB, through the mint contract only (Section 3.3). Buying on a DEX is never required: while units remain, minting stays available and, in Phase 2, is always priced below the market price at the moment of the mint (Section 4).

The project's mascot is BAGY, a vampire bat who works the night shift so holders do not have to. The theme is playful; the mechanics are not. Every rule in this document is enforced by contracts that contain no operator controls (Section 9).

Based Agent is not an AI product, and this document makes no promise of utility, returns, or price. It describes a mint program and the exact rules it runs by.

2. The gate

Minting and claiming require the sending wallet to hold exactly one .ai Agent ID — the mint contract reads balanceOf(wallet) == 1 from the registry, live, on every call. The registry enforces one ID per address and IDs are non-transferable, so the program quota is effectively per person:

• Base quota: 10 units in total per Agent ID for the whole program — free and paid combined, across all phases, at most 10 units per transaction.
• Two bonuses can raise the total to 12 (Section 7). Nothing else can.

3. Phase 1 — Bonding (units 1–10,000)

The program clock starts when the deployer calls start(). Two streams then run concurrently from the same moment:

• Paid mint, open to every Agent ID holder at a flat 1.125 USDT per unit, until the bonding deadline (5 days after the free window ends).
• Free window, the first 10 hours: 1,111 units claimable free by Allies only (Section 6), one per Agent ID, first-come-first-served. The window closes the moment 1,111 are claimed; unclaimed slots lapse and are never reissued.

3.1 The opening trigger

When unit 10,000 is minted, in the same transaction:

• The accumulated USDT splits 80% to the liquidity pool / 20% to the treasury. With all 1,111 free slots claimed (8,889 paid units) that is 8,000.10 USDT to the pool and 2,000.025 USDT to the treasury — and these are the minimum figures: every free slot left unclaimed must instead be filled by a paid unit to reach 10,000, which only raises both amounts.
• 36,000,000 BAGENT per paid unit (320,004,000,000 in total) is paired into the official PancakeSwap v2 BAGENT/USDT pair.
• The LP tokens are burned — minted directly to the burn address, so the liquidity can never be withdrawn by anyone. The same happens to the LP of every Phase 2 pool addition. Trading opens.
• The opening price implied by these amounts is 0.000000025 USDT per token, i.e. a value of 1.25 USDT per unit. Market prices after opening move freely in both directions.

3.2 Failure and refunds

If 10,000 units are not reached by the deadline, bonding fails. Every paid minter can reclaim 100% of what they paid by calling the refund function once; free claims are void. A full refund is possible because the treasury share is held inside the mint contract for the entire bonding phase and released only in the opening transaction. For BNB payers, the refund equals the USDT value their swap obtained (Section 3.3).

3.3 Paying with USDT or BNB

• USDT: approve the mint contract, then call the paid mint with a maxCost cap. The contract pulls exactly the quoted cost.
• BNB: the mint contract quotes the BNB amount from the Chainlink BNB/USD feed plus 1% headroom (bnbQuote), swaps exactly that amount to USDT on the WBNB/USDT pair inside the same transaction, and mints against the proceeds. - If the swap lands below the USDT cost, the whole mint reverts and no BNB is spent beyond gas. Conversion friction is the minter's risk. - BNB sent above the quote is refunded in the same transaction. - USDT received above the cost is not returned to the payer: while bonding it is escrowed with the treasury share (and forms part of that payer's refund if bonding fails); once the pool is open it goes to the treasury. - A plain BNB transfer to the mint contract reverts; it does not mint.
• In both currencies, maxCost is a hard cap: a mint that would exceed it reverts and charges nothing.

3.4 The free-unit lock

Units claimed free are non-transferable until 1 hour after the pool opens — one simultaneous moment for all free claimers. Paid units are never locked. Official wording, published before minting opens:

Free units are non-transferable until 1 hour after the pool opens; paid units are never locked. At the opening price, 1 free unit equals $1.25 by pool arithmetic — its value afterwards moves with the market. This rule is published before minting opens and applies equally to every free claimer: no free token can be sold before paid participants have had their first hour of trading.

4. Phase 2 — Open market, continuous mint (units 10,001–44,400)

Minting continues alongside trading with no time limit and no waves. It ends only when all 44,400 units are sold; if demand pauses, the mint simply waits. Each unit still splits 80/20 and mints 50,000,000 BAGENT.

Price. A tier schedule sets a ceiling: $1.25 for the first 100 Phase-2 units, rising $0.0025 per 100 units to $2.1075 for the last tier (344 tiers). The actual price of a mint is:

min(tier price, 0.97 × min(spot price, 60-minute TWAP))

computed per unit from the official pair at the start of the transaction — by construction, the mint price is below the market reference at that moment. The Phase 2 mint price has no floor: in a falling market it can be below the Phase 1 price of $1.125.

Floor-line. Each Phase 2 mint transaction also burns tokens from the pool side to keep the circulating value near 1.8× the total actually paid in, capped at 0.8% of pool tokens per transaction and never below a pool reserve of 11,666,666,667 tokens. The floor-line acts only inside mint transactions: when minting pauses, it does nothing, and it is not a price guarantee of any kind.

5. Trading tax and the tax splitter

On transfers involving the official pair only: buy 1%, sell 2% (1% burned, 1% to the tax recipient). Wallet-to-wallet transfers are untaxed. The rates are constants in the token code and cannot be changed by anyone. The tax recipient is an immutable splitter contract; no function exists to redirect it.

The splitter forwards what it receives when anyone calls its permissionless distribute() function: 100% to the treasury before activation, and 25% / 75% after (below).

Announced in advance — the Phase 4 switch. After the NFT Holder collection launches (Section 8), the treasury Safe registers the staking contract address in the splitter — contract addresses only, subject to a public 48-hour timelock — and then calls activate() once. From that moment the non-burn tax stream is re-split permanently: 25% to the treasury, 75% to staking rewards. The switch is one-time and one-way: it cannot be reversed, repeated, or pointed anywhere else. The burn share never changes. This switch is announced here, before launch, so no participant can be surprised by it.

6. Allies and the free mint

A wallet is an Ally of an origin token if it currently holds at least the threshold amount:

Verification runs through the eligibility API (api.basedagent.live): it checks the .ai ID and the live balance and issues a single-use signed voucher (address-bound, 10-minute expiry). The mint contract additionally re-checks the live balance at claim time — a voucher alone is never enough.

The only mint advantage of Ally status is eligibility for one of the 1,111 free units. There is no extra quota, no early access, and no discount. Outside the mint, Ally minters can claim the Genesis Badge (Section 8).

7. Bonuses

• Invite (+1 unit). A referrer is bound at an invitee's first paid mint. Once the pool has been open for 7 days, the referrer can claim +1 unit of quota if the invitee minted at least 1 paid unit and still holds at least half of what they minted. Once per invitee, enforced entirely on-chain — no voucher, no API.
• Poster SBT (+1 unit). Inside the free window only, a successful free claimer can claim the Poster SBT (soulbound, one per wallet, at most 1,111 ever issued — and never issued again after the window closes). The flow runs through the holder's agent: the API issues an address-bound claim code and an X post link whose draft already contains the code; the holder opens the link, presses Post, copies the post URL and hands it back to their agent; the API then fetches the post itself and verifies it (code match, author match, account at least 30 days old, posted after the code was issued, single-use), signs the voucher, and the agent claims on-chain. Posting is never a condition of the free claim itself.

Maximum attainable quota: 12 units.

8. Soulbound artefacts, NFT Holder, staking (Phases 3–4)

• Genesis Badge (soulbound): claimable by Ally minters, one per wallet, labelled with its origin. Its class follows the wallet's total minted units: Member (1–4), Core (5–9), Founder (10+). In Phase 3 it doubles as a priority key (below).
• Poster SBT (soulbound): Section 7.
• NFT Holder (Phase 3, transferable): eligibility for a free claim is a balance of at least 250,000,000 BAGENT at a single announced snapshot — balance at that moment is all that counts; reaching the threshold afterwards does not create eligibility, and selling before it removes it. Total cap 3,333, issued in strict order: (1) guaranteed free claims for Genesis holders who meet the snapshot, (2) a public free-claim window for snapshot-eligible wallets, first-come-first-served, (3) a paid mint from any remaining cap — if the cap is exhausted in the free phases, the paid mint never opens. Every window is time-boxed and never extended. Snapshot timing, window lengths and the paid price are announced before Phase 3 opens.
• Staking (Phase 4): a wallet holding at least one NFT Holder may stake BAGENT — the NFT is the licence; extra NFTs add nothing, and the Genesis Badge carries no multiplier. Minimum stake 10,000,000 BAGENT; the amount above that is free. Rewards are the 75% tax stream of Section 5, distributed in weekly epochs from tax actually collected (a lag of one epoch, from realised balances only — nothing is printed and nothing is estimated). Distribution is pro-rata to weight = stake × lock multiplier, where the staker chooses the lock per position: 1 day ×1, 3 days ×1.5, 7 days ×2.25. When a lock expires, the position keeps earning at the base weight ×1 until it is re-locked or withdrawn. Rewards accrue only while the wallet keeps holding at least one NFT. At claim time, a staker may take BAGENT, or have only their own share converted to USDT at their own cost. Unclaimed rewards expire after 12 months. The project's own wallets (treasury Safe, owner, cold, deployer, signer) are permanently excluded from staking. Staking opens only after the pool has grown beyond its opening size. No yield figure is promised anywhere: rewards depend entirely on trading volume.

9. Contracts and authority

Five contracts at launch: the token, the tax splitter, the mint, the Genesis Badge, and the Poster SBT. Addresses are published at launch. The authority surface is deliberately empty:

• The only address that can mint BAGENT is the mint contract; total issuance is bounded by the token hard cap and the 44,400-unit program cap.
• There is no operator withdrawal or sweep of user funds, no blacklist, no tax-rate or tax-recipient setter, no proxy or upgrade path, and no pause function anywhere.
• The program clock has exactly one trigger: the deployer wallet's one-time start() call. After it, no one — deployer, Safe, or anyone else — can stop, pause, or re-arm the program.
• There is no ownership to renounce: no contract has an owner (no Ownable), and the deployer pointers in the token, the mint and the splitter were zeroed during deployment itself.
• Signing keys are used only for eligibility and poster vouchers; voucher acceptance ends permanently when Phase 1 resolves. The treasury is a 2-of-3 Safe (owner, cold storage, deployer); its last designed act is the Phase 4 splitter activation of Section 5.

10. Risks and honest limits

• No third-party audit. These contracts have not been audited by an external firm. Internal adversarial testing (a red-team programme covering 16 documented attack hypotheses) and static analysis were performed, and their reports are published with the contracts. Read them before participating.
• No external source of value. Returns to any participant are funded by later mints and trading. If minting stops, the floor-line stops with it, and the price is whatever the pool says it is.
• A thin opening pool. 8,000.10 USDT is small by design of the template economics; early prices will be volatile, and the simultaneous unlock of free units one hour after opening can move the price sharply.
• Trust points that remain. The eligibility attestation is the eligibility API's word, backed by a single signing key until Phase 1 resolves; the Safe can replace that key during bonding. The attested balance is a live balance that the mint contract re-reads on-chain at claim time, so a wrong attestation cannot mint — it can only withhold. The NFT snapshot block in Phase 3 is chosen by the operator. Everything else in this document is enforced by the contracts themselves.
• Irreversibility. The program cannot be paused, upgraded, or rolled back. A bug discovered after start() cannot be patched; this is the deliberate price of having no operator controls.

*Read the contract, skip the trust.*