Donut DONUTPrice $ 0.0125

Mechanics:

• Only one active miner at a time, called the King Glazer. The right to mine is bought with ETH through a continuous Dutch auction:

• Price doubles after each purchase, then decays to 0 over one hour

• Anyone can purchase control of emissions at the current price fee Split

80% → previous King Glazer

15% → treasury (Blazery)

5% → provider (frontend host)

Emission Schedule:

• Starts at 4 DONUT / sec and Halving every 30 days

• Tail emission: 0.01 DONUT / sec (forever)

• ~1.2M premined for community incentives, longterm treasury holding

• Proof of Just-In-Time Stake: ETH is "staked" only while controlling emissions

• Profit if the next purchase pays more/Lose if it pays less

• User earns $DONUT the entire time you hold control

Treasury:

• Treasury ETH is used to buy and burn DONUT-WETH LP in the Blazery. Once sufficient liquidity is established, the Glazery can be upgraded to buy and burn DONUT directly, or governance can decide to acquire other assets or reinvest the treasury.