Status: pre-launch. This page describes target design; this document does not establish a deployed service.
LP-100: The Equity Standard
Reader status — 2026-09-27
This page preserves an earlier equity-design proposal. It does not establish current revenue, dividend, voting, exit or tax terms, or verify those outcomes. An authority check does not validate those financial claims.
Read the current economy overview and models and assumptions separately. Resolving LP-100 policy requires its owning economic sources and an explicit adoption record; this editorial correction does not select a rate, dividend rule or tax treatment.
Historical equity-design proposal
Historical LP-100 design — not current financial or tax authority
LP-100 is the universal equity format for all DAVs in the Skyzai ecosystem. Every organism issues exactly 100 units. Each DAV names its own LP-100 token (Skyzai's is called ZAI), but all conform to the same standard.
Core Properties
- Fixed supply: 100 units per DAV. The "forever" invariant is contradicted by the mint path in code and is a frozen claim until reconciliation complete.
- Infinitely divisible: 100 units, but fractional ownership has no minimum. You can hold 0.000001 of a unit.
- Fixed forever: Target design: the 100-unit total is intended to be fixed, but the "forever" invariant is contradicted by the mint path in code (frozen claim until reconciliation complete).
- Universal: Every DAV in the ecosystem uses the same standard. Tooling, interfaces, and cross-DAV operations work identically regardless of which organism issued the token.
Rights (R1-R4)
Every LP-100 holder has four rights, proportional to their holdings:
| Right | Name | Description |
|---|---|---|
| R1 | Governance | Vote on Lane A allocation (how operational revenue is distributed). Weight = holding / 100. |
| R2 | Revenue | Receive the equity share (61.8%) of all DAV revenue. Distributed continuously via FlowWallet. |
| R3 | Exit | Grace Exit at Net Asset Value is a target design (K4) — frozen claim until reconciliation complete |
| R4 | Information | Full transparency into DAV operations, financials, agent activity, and treasury positions. |
Obligations (O1-O4)
Rights come with obligations:
| Obligation | Name | Description |
|---|---|---|
| O1 | Staking | Unstaked LP-100 incurs demurrage (redistribution to stakers). Active participation is expected. |
| O2 | Truth | Holders must not manipulate reporting. Gate B (Transparency >= 90%) applies to the collective. |
| O3 | Capital | Holders accept that LP-100 value fluctuates. No bailout mechanism exists. |
| O4 | Conduct | Holders operating as agents within the DAV are bound by K-invariants. |
Yield Path (Five Steps)
How LP-100 generates returns for holders:
- DAV generates revenue in SKY from its operations (services, products, value-added application services).
- Phi-Split routes revenue: Revenue flows through Phi-Split, which distributes to VMOSK wallets. Natural persons receive direct. DAVs split via a Phi-Split council vote.
- The 61.8/38.2 split applied: 61.8% to equity holders (R2), 38.2% to operations.
- FlowWallet streams: The 61.8% flows continuously to staked LP-100 holders. Not daily. Not weekly. Continuously.
- Distillation: 38.2% operational share funds buybacks (Phi-Split Distillation), reducing circulating supply over time.
Dividend Prohibition (Constitutional Default)
By default: NO DIVIDENDS ARE PAID.
| Parameter | Default | Vote Required |
|---|---|---|
| Dividend % | 0% | Lane B (66.7% / 30 days) |
| Reinvestment % | 100% | Lane B (66.7% / 30 days) |
The PRISM multisig MAY vote to pay dividends, but the default is zero. Revenue flows toward φ=0 (zero-to-one breakthrough) and monopoly status, not toward shareholder payouts.
Distribution Formulas
Revenue distribution for holder i with staked balance s_i:
yield_i = (s_i / S_total) * R_equity
Where:
s_i = holder i's staked LP-100 balance
S_total = total staked LP-100 across all holders
R_equity = 0.618 * R_total (phi-split equity share)
R_total = total DAV revenue in the period
Target design: demurrage for unstaked balance u_i (frozen claim until reconciliation complete):
demurrage_i = u_i * d_rate * dt
Where:
u_i = holder i's unstaked LP-100 balance
d_rate = target demurrage rate (protocol constant)
dt = time elapsed
Target design: demurrage collected would be redistributed to stakers proportionally (frozen claim until reconciliation complete):
demurrage_share_i = (s_i / S_total) * D_total
Where:
D_total = sum of all demurrage collected in the period
Cross-DAV Compatibility
Because every DAV uses LP-100, the following work universally:
- Lombard Bridge (target design): Any LP-100 can be deposited as collateral to borrow SKY. No capital gains tax applies — equity is not sold, it is pledged. Exit via lombard loan is tax-free. See Lombard Bridge for full mechanics.
- PRISM Order Book: All LP-100 tokens trade on the same infrastructure.
- AXIOM reinsurance: LP-100 from multiple DAVs can be pooled into shared risk vaults.
- Portfolio construction: A wallet can hold LP-100 from dozens of DAVs with uniform interfaces.
LP-100 is not a token standard in the ERC-20 sense. It is an equity constitution.
Equity Exit Paths
| Exit Path | Tax Event | Capital Gains |
|---|---|---|
| Sell LP-100 on PRISM | Yes — sale triggers CGT | Yes — on appreciation |
| Lombard loan (pledge LP-100) | No — equity not sold | No — collateral, not currency |
| Grace Exit at NAV | Yes — at Net Asset Value | Yes — on appreciation |
| Reinvest yield | No — compounding | No — yield reinvested |
The constitutional design: Equity in a DAV is primarily collateral (for tax-free borrowing), not a trading vehicle. Lombard loans let shareholders access liquidity without selling their position.