nettspend
$NETT mint dropping. Desk programs (stake, bonds, levy) come online after the fund is wired to this mint.
Stake NETT, hold xNETT. The index grows each epoch; unstake returns NETT × index. Rate is zero at or below NAV.
Primary Offerings sell NETT at a posted discount to the tape, floored at NAV. Every bond is accretive to backing.
What the 5% levy pays for
Five percent on canonical-exchange trades. At genesis the split vests from a front-weighted team share down to 0% team / 5% treasury, permanently. After day 30 the whole levy is reserve inflow.
Night Spend
A nightly prize draw funded by distribution yield. Deposits stay yours.
The Catalog
Boxed programs. Every sale routes value into reserves.
Carrier Desk
Borrow USDC against staked NETT. A levy on every loop.
Tape Desk
NETT-margined trading on the fund's own terminal.
Buyback Program
A standing bid below NAV that buys and retires shares.
Primary Offerings
Subscriptions at a posted discount. Never sold below NAV.
Dividend Program
Enrolled shares compound every eight hours at an algorithmic rate.
Canonical Exchange
The fund-owned pool. The levy applies here. The rest of the desks read this tape.
No shareholder account on the line. Connect a Solana wallet to view NETT and SOL.
Stake, bonds, and vested shares come online after the fund desks are wired to this mint.
| Desk | What it does | Feeds | Status |
|---|---|---|---|
| Dividend Program | Stake NETT, receive xNETT. Index grows every 8 hours from the premium formula. | Keeps the register full | PRE-GENESIS |
| Primary Offerings | Sells NETT at discount to tape, floored at NAV. | Reserves + owned liquidity | PRE-GENESIS |
| Buyback Program | Standing bid below NAV. Buys and retires. | The floor | PRE-GENESIS |
| Carrier Desk | Borrow USDC against staked NETT. Optional loop. | Levy on every loop | PRE-GENESIS |
| Night Spend | Nightly draw. Principal stays yours; the pot is yield. | Every entry stakes NETT | PRE-GENESIS |
| The Catalog | Boxed programs. Printed odds. Reserve remittance on every box. | Reserves | PRE-GENESIS |
| Tape Desk | NETT-margined trading terminal. | Levy on the tape | PRE-GENESIS |
| Canonical Exchange | Fund-owned NETT/USDC pool. Source of TWAP. | The tape | PRE-GENESIS |
A share. A floor. A formula. Desks that pay the reserve.
1. NETT is a reserve share. Every share is backed by at least 1.00 USDC of risk-free value in the treasury. That floor is an on-chain cap, not a promise. The distributor cannot mint a share the treasury cannot stand behind.
2. You buy, stake, or bond. Buy on the canonical pool (levy applies). Stake to receive xNETT; the index grows every 8 hours. Bond to subscribe at a discount to the tape — never below NAV, so every bond raises backing.
3. The dividend is a function of premium. Premium P = market price ÷ NAV. At or below NAV, the rate is 0%. At 1.75× or higher, it runs at 0.45% per 8-hour epoch. Between those points it is linear. No committee.
4. Products turn the wheel. Night Spend, the Catalog, Carrier, and the Tape Desk are storefronts. Each one either buys NETT, stakes NETT, or pays the levy.
5. The fund quotes both sides of NAV. It sells (bonds) at or above NAV. It buys (buybacks) below NAV. It does not dilute the floor.
rate = 0.45% × clamp((P − 1) / (1.75 − 1), 0, 1) per 8-hour epoch. APY assumes the premium holds for a year and the reserve cap never binds.
| Premium P (price ÷ NAV) | Rate / epoch | Daily | APY (arithmetic max) |
|---|---|---|---|
| ≤ 1.00× | 0% | 0% | 0% |
| 1.10× | 0.060% | 0.180% | ~93% |
| 1.24× | 0.145% | 0.437% | ~391% |
| 1.50× | 0.300% | 0.903% | ~2,558% |
| ≥ 1.75× | 0.450% | 1.356% | ~13,552% |
We are building the reserve currency of Solana.
Solana already settles the most used assets in crypto around the clock: dollars, issuance, markets that do not close. A market like that deserves a native reserve asset — a share that is always backed, always priced against a published portfolio, and always accumulating more of the real economy underneath it. NETT is our answer, and Nettspend exists to manage it like a fund, in public, permanently.
NETT is a reserve share. Every share is backed by at least one USDC in the fund's on-chain reserve portfolio, the portfolio earns yield rather than sitting idle, and the fund's mandate is to diversify those reserves, over time, into productive on-chain collateral.
We do not market a token and wait. We ship products. Each one is a working desk with its own customers, and each one routes value to the reserve by construction.