> ## Documentation Index
> Fetch the complete documentation index at: https://docs.binibit.com/llms.txt
> Use this file to discover all available pages before exploring further.

# wBINI Cap Rule

> DEX Liquidity allocation creates a $240M implied market cap ceiling at 5% LP.

The DEX Liquidity allocation is **50,000,000 BINI (5% of total supply)**. This sets a hard ceiling on how much liquidity the wBINI side of BaiDEX pools can carry.

## The math

| Parameter                             |             Value |
| ------------------------------------- | ----------------: |
| DEX Liquidity allocation              |   50,000,000 BINI |
| BINI reference price                  |            \$0.12 |
| **wBINI side value**                  |   **\$6,000,000** |
| Matched USBI side                     |  \$6,000,000 USBI |
| **Maximum wBINI/USBI pool TVL**       |  **\$12,000,000** |
| **Maximum implied MC at 5% LP ratio** | **\$240,000,000** |

## Why this matters

A pool's TVL implies a market capitalization. If you have $12M of liquidity (sum of both sides) at a 5% LP ratio against MC, the implied MC is $12M / 5% = \$240M.

This is a **ceiling** for the canonical wBINI/USBI pool. Beyond this point:

* Either organic BINI buying lifts the price (not the supply we control)
* Or liquidity moves to many smaller USBI/Agent Token pools instead of one fat wBINI/USBI pool
* Or future allocations (post-vesting, post-emission) supplement DEX liquidity

## Why most activity should be in USBI/Agent Token pools

The wBINI cap forces a specific liquidity topology: **diverse pools, not one fat pool**.

```mermaid theme={null}
flowchart TB
    Anchor["wBINI / USBI<br/>Capped at \$12M TVL<br/>(one pool)<br/><br/>Anchor pool"]
    Growth["USBI / Agent Token (×N)<br/>No cap on USBI side<br/>(scales with user XP entitlement)<br/><br/>Growth pools"]
    Premium["wBINI / Agent Token (×M)<br/>Limited by remaining wBINI<br/>outside the anchor pool<br/><br/>Premium pools"]

    Anchor -- trades clear here --> Growth
    Anchor -.- Premium

    classDef anchor fill:#dcfce7,stroke:#16a34a,color:#14532d
    classDef growth fill:#e0f2fe,stroke:#0284c7,color:#0c4a6e
    classDef premium fill:#fef9c3,stroke:#ca8a04,color:#713f12

    class Anchor anchor
    class Growth growth
    class Premium premium
```

Most user activity should happen in **USBI/Agent Token** pools. These are uncapped on the USBI side because USBI is a sandbox stablecoin that scales linearly with user count and engagement.

The wBINI/USBI anchor pool exists to give USBI a real-value reference, not to be the main trading venue.

## Future ceiling expansion

The cap is conservative on purpose for the sandbox phase. Avenues to expand:

* **Ecosystem Reserve unlocks** (10% / 100M BINI) can supplement DEX liquidity over time
* **Marketing milestones** can fund liquidity bootstrapping for high-value pools
* **Organic BINI accumulation** by the protocol (e.g., from sink-burns being partially routed to LP) can add wBINI without new emission
* **Mainnet replacement** of USBI may change the entire liquidity model

## Sanity check

| Check                       |                    Value | Formula                          |
| --------------------------- | -----------------------: | -------------------------------- |
| wBINI allocation cap        | \$240,000,000 implied MC | `($6M + $6M) / 5%`               |
| Max wBINI in pools          |          50,000,000 BINI | `5% × 1B total supply`           |
| wBINI/USBI pool TVL ceiling |             \$12,000,000 | `$6M wBINI side + $6M USBI side` |

## Related

<CardGroup cols={2}>
  <Card title="BaiDEX Pools" icon="layer-group" href="/baidex/overview">
    Pool types: wBINI/USBI, USBI/AT, wBINI/AT
  </Card>

  <Card title="BINI Emission" icon="chart-line" href="/tokenomics/bini-emission">
    Where the 50M DEX Liquidity comes from (TGE)
  </Card>

  <Card title="Asset Model" icon="sitemap" href="/tokenomics/asset-model">
    BINI vs wBINI vs USBI relationships
  </Card>

  <Card title="Agent Token Sinks" icon="rocket" href="/tokenomics/agent-token-sinks">
    How spawn fees affect the pool topology
  </Card>
</CardGroup>