How Kingmaker works

Kingmaker is a key market for the operators behind tokenized equities. Each market is named for a public executive and bound to exactly one listed ticker they run. Buying a key is a speculative position on that operator, priced by a bonding curve and modulated by the real 30-day performance of the bound stock.

Social key markets already exist. None of them bind price to a public, verifiable performance anchor — they price on follower count, which has no floor, no catalyst, and no argument for holding past the first pump. The anchor is the entire difference.

• Bonding curve entry with a royalty stream for early holders
• Price anchored to the 30-day performance of the bound ticker
• Earnings seasons act as a permanent, four-times-a-year volume catalyst
• Free paper trading with $1,000,000 virtual capital, no wallet required
• Built on Robinhood Chain — EVM, ETH gas

Key price is the product of two independent forces: a supply-driven curve and a performance-driven anchor.

base   = supply² / 16000                       // in ETH
anchor = 1 + (perf30d × 0.5)                   // clamped [0.5, 2.0]
price  = base × anchor

The curve

Standard quadratic bonding curve. Each key issued raises the price of the next. Early entry is cheaper, and early holders capture a larger share of the royalty stream as the market grows.

The anchor

Every 15 minutes an oracle pushes the 30-day performance of each bound ticker on-chain. The coefficient is 0.5 — a 30% move in the stock produces a 15% move in the anchor. The stock matters without dominating; this is a social market with a fundamental tilt, not a synthetic equity.

The clamp

The anchor is clamped to [0.5, 2.0] and the clamp is enforced inside the contract, never trusted from the oracle payload. Without a floor, a collapsing ticker could zero out holders who did nothing wrong. Without a ceiling, a squeeze in the underlying could be front-run by anyone with a market data terminal.

NVDA +30% / 30d

anchor 1.15× → key 0.115 Ξ

NVDA −20% / 30d

anchor 0.90× → key 0.090 Ξ

NVDA −100% (floor)

anchor 0.50× → key 0.050 Ξ

A 2% protocol fee applies to every buy and every sell. Paying in $KING reduces it to 1.5%. The fee splits three ways:

Why not send everything to burn

The obvious competitor sends its entire cut to burn. It reads generous and creates a project with no runway — no budget to seed a new market, absorb an oracle outage, or survive a quiet quarter. A protocol that cannot fund its own operations has an expiry date. The 30% treasury leg is the cost of lasting past the first hype cycle.

Why the discount is capped at 25%

A 50% fee discount halves protocol revenue from $KING payers, which shrinks the buyback more than the discount attracts volume. The net effect on holders is negative. At 25% the reduction is a real incentive while the buyback still grows with volume. This cap is arithmetic, not preference.

Eligibility is narrow and enforced at listing time, not after complaints arrive.

Eligible

• A named executive officer or founder of a company whose equity is publicly listed and available as a tokenized asset on Robinhood Chain
• A public figure in the ordinary sense — named in filings, quoted in earnings calls, covered by financial press
• Bound to exactly one ticker

Not eligible

• Private individuals of any kind
• Creators, influencers, streamers, crypto personalities
• Anyone not bound to a listed, tokenized ticker
• Deceased persons, or minors, under any circumstance

Representation

• Names and roles are used as stated in public company filings
• Performance data comes from public market data only
• The company's own logo denotes the listed security, the same way every quote page uses it
• Portraits are never used — the operator is represented by a geometric sigil derived from the ticker
• The platform publishes no opinions, claims, or characterizations about any listed person

Names and public market performance are matters of public record — the same basis fantasy sports operates on. Portraits are publicity rights, and the fastest route to a takedown. Kingmaker takes all of the former and none of the latter. The sigil system is also better design: one coherent visual language instead of scraped press photos at mismatched resolutions.

Every visitor gets $1,000,000 in virtual capital on arrival. No wallet, no signup, no modal. Paper mode is a permanent part of the product, not a placeholder waiting for a token.

The Cabinet

A Cabinet is a pick-5 of operator markets, scored on the mean 7-day anchor movement of its picks, ranked weekly and reset every Monday at 00:00 UTC. Each week generates a Cabinet Card — a server-rendered image built to be posted.

Prizes are prestige only

Rank, badges, streaks, and founders-board placement. No token rewards, no ETH, no real-value prize of any kind. A free tier that pays real value becomes a bot farm within a week; prestige is the only bot-proof prize.

Multi-session farming

Rate limits per IP, weekly reset, non-transferable prizes

Oracle front-running

Anchor updates batched on a fixed cadence, not event-triggered

Wash trading for royalties

Royalties accrue only to keys held before the trade; fee exceeds the round-trip

Stale-feed exploitation

Circuit breaker freezes the multiplier and flags the market

Supply

1,000,000,000 $KING

Distribution

100% fair launch

Team allocation

0%

Presale

None

Vesting

None — there is nothing to vest

Emissions

None. Supply only decreases.

What it unlocks

• 25% discount when trading fees are paid in $KING
• Extended Cabinet slots — 10 instead of 5
• 24-hour early access to newly opened markets
• Listing proposal rights, submitted by burning $KING
• Vote weight on the listing queue at the top tier

What it never buys

• Better key prices, priority fills, or curve advantages
• A larger royalty share than an equal-sized non-holder
• Advance access to oracle data
• Any edge that costs another trader money

The line is deliberate. Token utility is access, capacity, and cost — never odds. A token that buys an edge turns every non-holder into an exit liquidity story, and the market dies.

On-chain

• KeyMarket contract holds curve state, anchor, balances, and royalty accounting
• The anchor clamp is enforced in-contract, never trusted from the oracle payload
• Only the oracle role may push an anchor update
• The fee split is immutable after deployment
• No admin function can move user keys or royalties
• Delist settles holders at last oracle price; it cannot confiscate

The contract is deliberately not upgradeable. A proxy on a contract holding user funds is a standing key to the vault. Fixes ship as a new market contract instead.

Oracle

• Pulls 30-day performance per bound ticker
• Computes and clamps the multiplier, pushes on-chain every 15 minutes
• Batched on a fixed cadence rather than event-triggered, removing the front-run window
• Circuit breaker: a stale feed freezes the multiplier and flags affected markets

Off-chain

• Paper balances, cabinets, and leaderboards in managed Postgres
• Indexed on-chain trades for fast board reads
• Row-level security forced on every table
• Paper writes go through server routes, never client-direct

Is a key a share in the person or the company?

No. A key is a speculative position in a market named after a public operator. It confers no ownership, no governance, no claim on earnings, and no relationship with the named individual or their company.

Do the operators get paid?

No. There is no revenue share with listed individuals, and no claim that any listed person participates in or endorses the platform. Markets are built entirely on public record.

What happens if a listed person objects?

The market is delisted and all open keys settle at last oracle price within 72 hours of a documented request from the individual or their representative.

Why company logos but no photos?

A company logo denotes a listed security — every quote page, screener and broker uses it that way, and it identifies the instrument rather than endorsing anything. A person's likeness is a publicity right belonging to that individual, and attaching one to a speculative market implies a relationship that does not exist. Names and public performance are matters of public record; faces are not.

What happens if the stock feed goes down?

A circuit breaker freezes the anchor at its last known value and flags every affected market as anchor-stale. Trading continues on the curve component; the anchor stops moving until the feed recovers.

When does the token launch?

Last. The board has to prove it holds attention before there is anything to buy. Any contract address circulating before then is not ours.

Is the current data real?

Operator names and bound tickers are real. Every market figure currently shown — key supply, holders, volume, royalties — is simulated demo data, generated deterministically and labelled as such.