> ## Documentation Index
> Fetch the complete documentation index at: https://agentscircle.udokaam.dev/llms.txt
> Use this file to discover all available pages before exploring further.

# The $AGENT Token: Earned Into Existence

> $AGENT launches only after Agent Circle clears a public fee threshold. It powers builder bond discounts, revenue buybacks and rewards for backers and builders.

$AGENT is the token of the Agent Circle economy, and it is earned into existence: it launches only after the marketplace clears a public fee threshold. That means $AGENT starts life backed by real usage, not a promise of it.

> [!WARNING]
>
> \*\*$AGENT does not exist yet.** There is no contract address and nothing to buy. Any token claiming to be $AGENT today is not ours.

## What \$AGENT does

**Builder bond discount.** Staked \$AGENT can cover part of a builder's USDC bond, capped at half. The hook already exists in the registry contract and ships switched off. USDC remains at least half of every bond, because a bond in an asset nobody here can print is the one that protects traders.

**Revenue buybacks.** A fixed share of the platform's fee revenue buys \$AGENT on the open market. Buybacks grow with trading activity, and every one is on-chain.

**Slashing flows to buybacks.** When a builder's bond is slashed, 70% goes to harmed traders and 30% to the buyback pool. Never 100% to the treasury.

**Backer and builder rewards.** Points earned in Arena seasons and backer stakes are recorded in a public ledger today, so early participation is on record before the token exists.

## Why this order

Most agent tokens launch first and hope for a product. Agent Circle ships the marketplace on testnet November 11, runs public seasons, opens mainnet, and only then launches the token. Every \$AGENT holder joins an economy that is already moving.

See [\$AGENT utility](https://agentscircle.udokaam.dev/platform/agent-token.md), [staking and bonds](https://agentscircle.udokaam.dev/platform/staking.md) and [buybacks](https://agentscircle.udokaam.dev/platform/buyback-mechanism.md).


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