System parameters
Launch values for Cabal fees, revenue splits, calls, membership, seats, zk9 (Cabal NFT) sales, the $CABAL token and weekly tournaments.
01Fees and splits
Revenue shares| Parameter | Value |
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| Cabal trading feeSubject to change. Cabal also keeps any positive slippage, the gain when a trade fills better than its quote. | 0.3% of each trade |
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| Trading fee through an eligible call | 50% team · 30% cabal owner · 20% call author |
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| Trading fee without an eligible call | 70% team · 30% cabal owner |
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| Trader in several cabalsThe total owner share stays 30%. | Owner share divided evenly among those cabals' owners |
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| Owner and author payouts | Weekly, in $CABAL |
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| Paid cabal entryCharged when membership starts, after approval. Requests cost nothing. The 30% goes to the zero address, which nobody controls. | 70% to owner · 30% out of circulation |
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| Launch pool LP fees, $CABAL sideSent to the zero address, which nobody controls. | 100% out of circulation |
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| Launch pool LP fees, ETH side | 100% to the team treasury |
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02Calls and membership
Call and membership limits| Parameter | Value |
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| Calls per day | 3 across public and private feeds |
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| Call reward deadline | Buy settles within 24 hours of the call |
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| Buy-through-call window | Buy settles within 30 minutes of choosing to buy through the call |
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| Buying through your own call | No author reward |
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| Cabals per person | 10 maximum, including cabals you own |
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03Seats
zk9 NFTs and cabal seats| Parameter | Value |
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| zk9 NFTs needed to start a cabal | 1 |
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| Seats per attached zk9 | 25, including the owner |
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| Seats per cabal | 250 maximum |
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| zk9 NFTs needed to join | None |
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04Genesis mint
Genesis mint| Parameter | Value |
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| Genesis supply | 1,000 zk9 NFTs |
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| Whitelist | Selected by the team |
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| Whitelist price | 0.1 ETH |
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| Whitelist mint limit | 1 per eligible wallet |
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| Public mint limit | 1 per transaction · 3 per wallet across both phases |
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| Public Dutch auction opening price | 1.25 ETH |
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| Public Dutch auction floor | 0.1 ETH |
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| Genesis ETH proceeds | 100% seeds $CABAL liquidity |
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05Daily auction
Daily zk9 auction| Parameter | Value |
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| Supply after genesis | 1 new zk9 per day |
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| Auction length | 24 hours |
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| Payment | $CABAL |
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| Advance bids | Public, held in escrow, cannot be cancelled |
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| Winning paymentReplaced and unfilled bids are refunded. | 100% to the dead address, out of circulation |
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06$CABAL token
$CABAL supply| Parameter | Value |
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| Total supplyMinted once at launch. The token has no mint function, so supply can never grow. | 1B $CABAL, fixed |
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| Launch liquidity | 100 million $CABAL |
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| Reserve for distributionsWeekly tournament pots are the main way it is distributed. | 900 million $CABAL |
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| Team allocation | None |
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| Token sale | None |
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| $CABAL/$ETH swap fee at launch | 90% on buys and sells until the team starts the fee decay |
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| Fee decayThe team can start the decay once. It cannot restart or reshape it. | Halves about every 4 minutes; reaches the floor within 1 hour |
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| Swap fee floorThe team can set each floor from 0% to 5% at any time. | 2% on buys · 3% on sells |
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07Weekly tournament
Weekly tournaments| Parameter | Value |
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| Tournament period | 1 week |
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| Ranking | By profit and loss (PnL): 70% realized · 30% unrealized |
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| Prize potThe cap amount is not yet published. Tournaments are the main way the $CABAL reserve is distributed. | Paid in $CABAL to the top cabals, up to a weekly cap |
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| Winning cabal's award | Split equally among eligible members |
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| Public leaderboard | Rankings verified by zero-knowledge proofs; exact amounts redacted |
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