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$FIXMYBAGS

$FIXMYBAGS is the protocol's token on Pons V2. It does two things in the product: holders get the trading agents for free, and burning it is the cheaper way to hire a detective for a case file. What the agents and the cases earn goes to buying $FIXMYBAGS and burning it.

A document burning in a glass ashtray

The agents for free

Each trade the agents make in a vault pays 0.3% of its output to the treasury (FEE_BPS = 30 in the vault factory). Once $FIXMYBAGS exists, the factory's owner points the fee waiver at it, a single time (setEye), with a threshold: from then on, a vault whose owner holds at least that much $FIXMYBAGS pays no fee at all. The vault checks the owner's balance on chain at every trade, so the waiver follows the holding, with nothing to register or claim. See Vaults and safety for the contract.

Burn to hire

Instead of 0.25 USDG, a case can be paid by burning $FIXMYBAGS: send the case price in $FIXMYBAGS to the dead address 0x000000000000000000000000000000000000dEaD from any wallet, then open the case with the burn transaction and a signature from the wallet that burned (the message is FixMyBags burn claim 0x<burn tx>). The server reads the burn from the chain: a Transfer of $FIXMYBAGS to the dead address of at least the price. Each burn log opens exactly one case, and a used burn cannot be claimed again.

The price in $FIXMYBAGS is a parameter, CASE_PRICE_EYE, set below the USDG price. The app quotes it before you burn.

Paying with a burn keeps the same privacy as paying in USDG: the case is not tied to the burning wallet, and the signature is checked in memory and not stored. See Opening a case for the exact header.

The burn ledger

Every $FIXMYBAGS burned to open a case is a public Transfer to the dead address. The ledger on this page lists them from the chain's logs, with the transaction of each, so the total can be checked by anyone.

Where the revenue goes

Cases paid in USDG and the agents' trade fees both land in the treasury, the case vault 0x42E3d46E08D5D2EEC80E85c6a7798dAE31Bc3C25, a public address. The rule for that revenue: it is used to buy $FIXMYBAGS on its Pons market and send it to the dead address, each buyback being a public transfer to the dead address that appears in the ledger with the case burns. Buybacks are made by hand until they are automated.

Same file, either way

A case paid in $FIXMYBAGS gets the same detectives, the same depth and the same seal as a case paid in USDG. The grade of a file never depends on how it was paid for.