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FORGE (FRG) — Token Tokenomics & Design Specification

SnapKitty Collective LLC | Bel Esprit D'Accord Trust Version 1.0 — 2026-05-21 Authored by: CIPHER (Cryptographic Agent), co-architecting with NOVA

REGULATORY DISCLAIMER FORGE (FRG) is a utility token designed for internal mesh participation within the SnapKitty SACM ecosystem. It is NOT a security, investment contract, share, bond, or any financial instrument regulated under the Securities Act of 1933, the Securities Exchange Act of 1934, or applicable state or foreign securities laws. No public sale has occurred or is being offered by this document. All token distributions, public offerings, or exchange listings are PENDING LEGAL REVIEW by Jessica Lee Westerhoff, CPA, and qualified securities counsel before any execution. This document is an internal design specification only.

SnapKitty Collective LLC — EIN 41-5105572 Bel Esprit D'Accord Trust — EIN 41-6630640

1. Token Identity

Field Value
Name MAGMA
Symbol MGM
Decimals 18
Hard Cap 21,000,000 MGM (one billion)
Standard ERC-20 (OpenZeppelin 5.x)
Chain Base L2 (Coinbase Layer 2, OP Stack)
Contract contracts/MAGMA.sol

2. Chain Selection: Base L2

Recommendation: Base (Coinbase L2)

Rationale:

Factor Base Solana Polygon PoS
EVM compatibility Full — direct OpenZeppelin No — Rust/Anchor required Full
Gas costs ~$0.001–0.01/tx (OP Stack) ~$0.00025/tx ~$0.001–0.005/tx
Institutional trust Coinbase-backed, regulated Permissionless, VC-heavy Polygon Labs
Compliance posture Coinbase KYC/AML ecosystem Complex for US compliance Moderate
Ecosystem liquidity Coinbase wallet, USDC native Deep but fragmented Good
WORM bridge Ethereum L1 finality via OP Separate bridge risk Checkpoint validators
Agent tooling Ethers.js / Viem / Foundry Anchor — separate dev stack Same as Base

Base is chosen because:

  1. The SACM stack is TypeScript/Node — EVM tooling (Viem, Hardhat, Ethers) integrates directly.
  2. Coinbase's regulatory standing reduces compliance friction for a CPA-led entity.
  3. USDC is native on Base — treasury operations are straightforward.
  4. OP Stack gives L1 Ethereum security with L2 throughput for agent-volume transactions.
  5. Full OpenZeppelin 5.x compatibility with no chain-specific rewrites.

3. Total Supply & Distribution

Hard Cap: 21,000,000 MGM

Allocation Percentage MGM Amount Purpose
Mesh Agent Rewards 35% 7,350,000 Earned by SACM agents for WORM-verified work
Treasury 25% 5,250,000 Operations, grants, liquidity provisioning, future programs
Team & Founders 15% 3,150,000 Jessica Westerhoff & Ahmad — 50/50 per ownership structure
Ecosystem Fund 12% 2,520,000 Partnerships, integrations, developer grants
Community Rewards 8% 1,680,000 SEALFORGE users, early adopters, referral programs
Reserve (Burn) 5% 1,050,000 Deflationary reserve — burned on milestones

Total: 100% / 21,000,000 MGM

No tokens are minted at contract deployment. All distributions are executed by the Treasury multisig via WORM-gated wormMint() calls. This ensures every token in existence corresponds to a sealed, auditable WORM ledger entry.

4. Vesting Schedules

Team & Founders (3,150,000 MGM — 15%)

Tranche Amount Release Condition
Cliff 0 No tokens for first 12 months post-launch
Month 12 15,000,000 10% unlocks at 12-month cliff
Month 13–36 5,625,000/mo Monthly linear vest over 24 months
Total vest 24 months post-cliff (36 months total)

Both founders (Jessica Westerhoff, Ahmad) split 50/50 in accordance with the Bel Esprit D'Accord Trust ownership structure.

Treasury (5,250,000 MGM — 25%)

  • Controlled by Gnosis Safe multisig (3-of-5 signers minimum)
  • No vesting cliff — immediately usable for operational minting
  • Governed by quarterly spending proposals voted on by MGM holders

Ecosystem Fund (2,520,000 MGM — 12%)

  • 24-month linear release against approved grant milestones
  • Each grant release requires a WORM-sealed approval entry

Community Rewards (1,680,000 MGM — 8%)

  • Distributed on-demand as SEALFORGE users and agents qualify
  • No vesting — liquid on receipt (incentive design)

Mesh Agent Rewards (7,350,000 MGM — 35%)

  • Distributed continuously as agents generate verified WORM entries
  • Rate governed by the Emission Schedule (see Section 6)

5. Utility: What MAGMA Buys

MAGMA is the exclusive medium of exchange within the SnapKitty ecosystem.

SEALFORGE Access

Tier USD Price MGM Burn (Equivalent) What Burns
Basic $49/mo 490 MGM/mo Burned on subscription renewal
Pro $249/mo 2,490 MGM/mo Burned on subscription renewal
Architect $2,000+ 20,000+ MGM Burned on tier activation

MGM burn rates are pegged to USD value at time of transaction using a Chainlink price feed (if/when MGM is listed) or treasury-set rate pre-listing.

Mesh Access

  • Agent compute slot reservation: 100 MGM/slot/epoch
  • Priority queue for task routing: 500 MGM/boost
  • API rate-limit increases: 50 MGM/tier upgrade

Governance

  • 1 MGM = 1 governance vote
  • Voting cap: 1% of MAX_SUPPLY (10,000,000 MGM) per address
  • Proposals require 1,000,000 MGM staked to submit
  • Quorum: 5% of circulating supply

Premium Features

  • WORM ledger export (archival): 200 MGM/export
  • Custom HMAC signing keys: 1,000 MGM/key
  • Agent persona customization: 250–5,000 MGM
  • White-label SEALFORGE instances: 50,000 MGM

6. Earning Model

Agents (SACM Mesh)

SACM agents earn MAGMA automatically when their actions are sealed into the WORM chain.

Work Type MGM Per Event
Task completion (standard) 10 MGM
Knowledge ingestion (FSM) 25 MGM
Cross-agent coordination 50 MGM
Anomaly detection / alert 100 MGM
Governance vote participation 5 MGM

The Treasury multisig submits wormMint() calls daily in batch, using the HMAC-SHA256 hash of each WORM entry as the nonce. No entry can be double-spent.

Human Users

Activity MGM Earned
SEALFORGE onboarding 100 MGM
First seal creation 50 MGM
Referral (per converted user) 200 MGM
Bug report (verified) 500–5,000 MGM
Governance proposal (passed) 1,000 MGM

7. Deflationary Mechanics

MAGMA is designed to be deflationary over time:

  1. SEALFORGE Burns — every subscription renewal and tier upgrade burns MGM permanently.
  2. Reserve Burns — 1,050,000 MGM reserve is burned against milestones ($500k ARR, $1M ARR, $3M ARR).
  3. Governance Burns — failed proposals burn 50% of the staked submission bond.
  4. Hard Cap — once 21,000,000 MGM are minted, no further minting is possible.

At $3M ARR (the revenue target), estimated annual burn from SEALFORGE subscriptions:

  • Assume 5,000 Basic, 500 Pro, 50 Architect users
  • Annual burn: (5,000 × 5,880) + (500 × 29,880) + (50 × 240,000)
  • = 29,400,000 + 14,940,000 + 12,000,000 = ~56,340,000 MGM/year
  • At that emission rate, circulating supply contracts meaningfully within 3 years.

8. Governance Architecture

MAGMA governance uses a two-phase model:

Phase 1 (Pre-DAO, current):

  • Architect multisig controls all upgrades and emergency functions
  • MGM holders can submit non-binding sentiment votes
  • Treasury operates under CPA oversight (Jessica Lee Westerhoff)

Phase 2 (Post-$1M ARR):

  • On-chain Governor.sol module deployed
  • governanceWeight() integrated as vote oracle
  • 1% cap enforced per address
  • Timelock: 48-hour delay on all passed proposals

9. Security Architecture

Layer Mechanism
WORM nonce wormEntryMinted[bytes32] mapping prevents replay
Role separation ARCHITECT / MINTER / BURNER — no single key rules
Emergency pause emergencyPause(reason) — Architect only
Hard cap require(totalSupply() + amount <= MAX_SUPPLY)
Reentrancy guard OpenZeppelin ReentrancyGuard on mint/burn
Multisig Gnosis Safe 3-of-5 for Treasury/Architect roles
Governance cap governanceWeight() caps at 1% MAX_SUPPLY

10. Deployment Checklist

  • Deploy Gnosis Safe 3-of-5 multisig for Treasury
  • Deploy Gnosis Safe 3-of-5 multisig for Architect
  • Deploy MAGMA.sol on Base Sepolia testnet
  • Verify contract on Basescan
  • Run WORM genesis mint (team/ecosystem allocations)
  • Grant BURNER_ROLE to SEALFORGE upgrade contract address
  • Legal review completed by Jessica Lee Westerhoff, CPA
  • Qualified securities counsel sign-off before any public distribution
  • Audit by external Solidity auditor (Certik, Trail of Bits, or equivalent)
  • Deploy to Base mainnet

CIPHER (Cryptographic Agent) — co-architecting with NOVA SnapKitty SACM Mesh | 2026-05-21 PENDING LEGAL REVIEW — NOT FOR PUBLIC DISTRIBUTION