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Official Document

Tokenomics EtherVap v2.1 (Under Review)

Economic model focused on enterprise AI continuity, with an active treasury and flexible Compute Unit pricing.

Executive Summary

EtherVap (eVAP) tokenizes rights to AI inference Compute Units (CU) pre-purchased at bulk discounts. The treasury acts as a professional market maker, absorbing volatility. A flexible unit model avoids rigid model-specific exposure.

1 eVAP = 1 Compute Unit (CU)

1 CU = $0.105 worth of inference (internal accounting, multi-model)

1. Token eVAP

  • Standard: ERC20 (Base chain)
  • Utility: Burn for real X402 inference usage
  • Price discovery: Uniswap v4 market
  • Initial supply: 10M eVAP

2. Distribution

Category % Amount Vesting
Treasury50%5MN/A
LP Uniswap20%2MN/A
Team15%1.5M36m linear
Grants10%1M12m cliff
Early LPs5%0.5M6m linear

3. Compute Unit (CU) Definition

Flexible internal pricing:

1 CU = $0.105 effective inference value

Intelligent routing:

  • DeepSeek: 1.1M tokens -> $0.095 cost
  • Claude: 800k tokens -> $0.105 cost
  • GPT: 700k tokens -> $0.105 cost

The treasury controls model mix to preserve positive margins.

4. Economic Model

Average bulk COST: $0.095/CU
SELL PRICE: $0.105 eVAP (market)
GROSS MARGIN: $0.01 (9.5%)

Burner cashback: 2.5% eVAP ($0.0026) -> User net: $0.1024

USER: Burns 1 eVAP ($0.105) -> gets 0.025 eVAP back
NET: $0.1024 vs $0.105 spot -> Competitive
PROTOCOL: $0.01 margin (95.2% covered post-rewards)

5. Treasury: Professional Market Maker

Hard Collateral (80% minimum):

  • USDC cash: 120% coverage
  • Compute credits: 30% coverage (provider mark-to-market valuation)

Soft Assets:

  • Locked bulk contracts (DeepSeek/Novita annual agreements)
  • Yield farming USDC (5-8% Aave)

Limits:

  • Buffer <60%: Dynamic pricing (+2%)
  • Buffer <40%: Minting pause

6. Revenue Streams

Per 1M CU ($105k):
├── $105k Users (eVAP)
├── -$95k Bulk providers
├── +$10.5k Margin (10%)
├── +$2.1k Fees Uniswap (2%)
└── +$5.25k OpenRouter split (5%)
TOTAL TREASURY: $17.85k
REWARDS: $2.63k (15% margin)

7. Uniswap v4 Hooks

  • Dynamic fees: 0.05-1.2% (LP depth)
  • Fee capture: 100% treasury
  • LP rewards: 6 months for early providers

8. Projections

Month TVL CU Sold Revenue Net Margin
1$250k25k$2.6k$1.3k
6$2.5M250k$26k$13k
12$10M1M$105k$52k

9. Risks Mitigated

Risk Mitigation Residual
Expensive model mixFlexible CU + routingLow
Insufficient margin10% buffer + dynamic pricingLow
Provider default5 providers + annual contractsLow
AdoptionOpenRouter + LatAm grantsMedium
Treasury drain120% hard collateralLow

10. Token Warrants (Seed)

  • ERC-721, strike $0.075 eVAP (2027)
  • Vesting 24m linear, max 12% dilution
  • Backing: USDC treasury (130% collateral)

11. Governance

  • Phase 1: Multisig 7/12
  • Phase 2 (>10M TVL): eVAP voting
  • Scope: Providers, fees, buffer parameters

12. Roadmap

  • Q2 2026: Testnet + OpenRouter MVP
  • Q3 2026: Mainnet + Warrants $2M raise
  • Q4 2026: B2B dashboard + multi-chain
  • 2027: Perpetual market + governance

Legal: Utility token. Independent audits required. Not financial advice.

Document under review v2.1