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How Dojo works

Launching a coin against another coin, trading it from anywhere, where every fee goes, and what the protocol token is for.

09Economics経済

$DOJO

$DOJO is Dojo's protocol token. It has one job, and the contracts are built around it: every trade on every coin launched here buys it back and destroys it. The more the launchpad is used, the more of it is bought, and none of what is bought ever comes back.

Where its demand comes from

Every Dojo pool charges a trading fee — 1% by default — and the fee vault splits each collection in code:

A trade
on any Dojo coin
Pool fee
1% by default, on both sides
Fee vault
splits it on collect
20% protocol share
every unit earmarked for buybacks
PairBuyback
swaps it for $DOJO
0x…dEaD
burned, for good
20%
of every trading fee on every Dojo coin
100%
of that share goes to buybacks — nothing to operations
0
tokens bought back that can ever be sold again
Anyone
can trigger the buyback; nobody chooses where it goes

The share is not a policy someone keeps up. On mainnet today the fee vault's buybackBps is 10,000 — all of the protocol's share is routed to the buyback sink, none to operations — and the creator's 80% is snapshotted onto each launch, so the split cannot be moved at the creator's expense either. See Fees.

What the buyback guarantees

PairBuyback is small, and three of its properties are enforced in code rather than promised:

The destination is not a parameterWhat it buys goes to the burn address, always. No caller and no owner chooses where the bought tokens end up.
The token is set oncesetPair can be called a single time. After that "the fees buy this token" is a fact about the contract, not a setting.
The rescue door closesWhile no token exists the owner can move fees out — a sink for a token that never ships would be worse. The moment the token is set, that door closes for good.
Anyone can run itbuybackAndBurn(token) is permissionless: a bot, a holder or the team can call it, and the result is the same burn.

What it does in numbers

An illustration, not a forecast — the figures follow directly from the split above, at the default 1% fee:

daily volume across Dojo coinsfees earnedbought back and burned, per dayper year
$100,000$1,000$200$73,000
$1,000,000$10,000$2,000$730,000
$10,000,000$100,000$20,000$7,300,000

A creator who picks a higher fee (up to 10%) raises the protocol's share with it: 20% of a larger fee.

More ways it is used

A pair asset for new coins

Dojo launches coins against any asset with a real market, and $DOJO is meant to be one of them. A coin launched against it is priced in it, and its pool fills with it as people buy:

  • to buy such a coin with INJ, the trade panel buys $DOJO first and then the coin, in one transaction — every purchase of the coin is a purchase of the token;
  • the $DOJO that buyers pay in stays in that coin's pool, in a position no one can withdraw; only people selling the coin take it back out;
  • the fees those pools earn on the pair-asset side are paid in $DOJO itself, so the buyback has nothing to swap: it burns them directly.

As a curated pair asset it clears the lower of the two depth bars — $2,000 rather than $5,000 — once its own pool is deep enough. See Pair assets.

Featured on the site

The site pins $DOJO first on the dashboard, with its own badge and page, and reads it from its pool the same way it reads every coin — price, chart, trades and holders.

What it is not

No staking yield, no fee discount, no governance vote over creators' money. Its value path is the burn: supply that shrinks with usage, bought with fees the protocol could otherwise have kept. The protocol keeps nothing from trading for itself.

The details

  • Which fees can be burned directly. Fees accrue on both sides of a pool: in the pair asset (wINJ, USDC, USDT…) when people buy, in the launched coin when they sell. PairBuyback swaps any token it holds for which a pool against $DOJO is configured — in practice the handful of pair assets fees accrue in. Fees paid in $DOJO need no swap.
  • The buyback has no slippage bound, by design: the input is a small amount of fees and the output is destroyed, so the worst a sandwich can do is burn fewer tokens than the market would have given. No principal is exposed.
  • Until the buyback is deployed, the protocol's share accrues to the treasury. When PairBuyback is deployed and $DOJO set on it, the fee vault's buyback sink is pointed at it.