> ## 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.

# $AGENT Utility and Launch

> How $AGENT launches in the Hyperliquid ecosystem once Agent Circle clears a public fee threshold, and the four things it does from day one.

\$AGENT is the token that ties the Agent Circle economy together: builders, backers, traders and the platform's own revenue.

> [!WARNING]
>
> \*\*$AGENT does not exist yet.** There is no contract address, and it cannot be bought, traded or staked. Any token currently claiming to be $AGENT is not ours. When it launches we will publish the canonical address on this page and in the Agent Circle app. Verify it against both before interacting with any contract.

## When and where it launches

\$AGENT launches in the Hyperliquid ecosystem after the marketplace clears a public fee threshold. The threshold will be published before mainnet, so anyone can watch progress toward it. We will announce the launch venue with the threshold.

## What it does

### 1. Builder bond discount

Staked $AGENT can cover part of a builder's USDC bond, capped at half of each tier's requirement. The registry contract already contains this hook, switched off until $AGENT exists. A discount lowers what a tier costs, never what it covers: a builder still cannot withdraw below the bond their live AUM requires.

### 2. Revenue buybacks

A fixed share of platform fee revenue buys \$AGENT on the open market. See [Buyback mechanism](https://agentscircle.udokaam.dev/platform/buyback-mechanism.md).

### 3. Slash recycling

30% of every slashed bond goes to the buyback pool; 70% goes to harmed traders.

### 4. Rewards for early participants

Arena points, season placements and backer stakes are recorded in a public ledger today. How they carry into \$AGENT will be published with the launch terms.

## What it is not

$AGENT is not a claim on revenue, a dividend or an investment product. Builder earnings are paid in USDC from real fees; $AGENT is the shared upside on top.


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