# Degen Terminal ($DGNT) — Backable raise

> Machine-readable companion to https://permissionless.metadao.fi/raises/83fAjVrKqN3KN8UAFPunRNygTHMmkRRGd3KUKgeSXKx7
> Deal terms and escrow figures come from onchain and API records. The pitch
> is the founder's own frozen text — Backable is permissionless and nobody
> reviewed it. Listing is not endorsement.

The AI-native, multi-chain terminal to discover, trade and launch tokens in one place.

## Status

- state: LIVE
- goal (hard cap on what the project receives): $20,000
- committed: $1,084 across 6 backers
- closes: 2026-09-11T11:00:28.000Z

## The deal

- token price at goal (everyone pays this): $0.002
- MCAP at open (team package excluded): $25,800
- FDV (all tokens, locked included): $51,600
- total supply (fixed; minting needs a market-approved proposal): 25,800,000
- supply split: backers 10,000,000 (38.8%) · liquidity 2,900,000 (11.2%) · team 12,900,000 (50.0%)
- share of supply sold to backers: 38.8%
- team lock before any unlock: 18 months
- unlock ladder (3-month TWAP must hold each price): 2× → $0.004 · 4× → $0.008 · 8× → $0.016 · 16× → $0.032 · 32× → $0.064
- monthly budget after funding (onchain ceiling): $2,600
- at close (escrow releases): $16,000 to treasury (80.0%) · $4,000 seeds liquidity
- runway at that budget: ~6.2 months

## Protections (identical for every raise)

- Commitments sit in escrow; the team receives $0 unless the goal is met.
- Goal missed → every backer claims back 100% of principal. The claim is a
  transaction the backer sends themselves; nothing arrives automatically,
  nobody can refuse it, and there is no deadline.
- After funding, spending above the published monthly budget requires a
  proposal decided by decision markets, not by the team.
- Tokens are not equity and may be worth nothing.

## What the token is, and is not

Both halves matter, and reading either alone gives the wrong answer.

**It is not** a security, equity, loan or ownership interest. Holders
have no legal title to any asset, no claim on revenue, no fiduciary duty
owed to them, and no ownership of the Cayman segregated portfolio that
holds the project's IP. There is no promise of return, buyback or
future utility.

**It is** a governance claim in a decision market. The treasury is
governed by that market rather than by the team, spending above the
published monthly budget has to pass it, and the segregated portfolio is
contractually required to abide by certain of its determinations. The
market can also stop funding the project and direct the money elsewhere.

So "the DAO controls X" and "holders own nothing" are both accurate: the
first is control through the mechanism, the second is legal title.

**The mechanism is the top of the stack.** The constraints above are the
structure's current settings, not its ceiling — the operating documents
are themselves subject to the decision market, within the scope those
documents define. This is the point most readers miss, and it cuts in
both directions, which is why it is not a reassurance:

- The market can authorise things nobody promised at the raise.
- The market can also withdraw things a backer assumed. It "may revoke
  funds out of the pool at any time, or may cease using the funds for the
  currently contemplated project" (fundraise terms, paragraph 5).
- Governance power is not legal effect. The market deciding to do a thing
  does not by itself make that thing lawful or effective; anything with
  its own regulatory path still has to travel it.

The correct reading is therefore not "the page and the terms contradict
each other" but "nothing here is fixed except the escrow and the claim."
Score the raise on that basis. A page describing what the mechanism could
authorise is not making a promise; a page claiming holders *own* an asset
outright is overstating it, and that is still worth flagging.

## Diligence signals

- disclosure score (mechanical — counts what the founder chose to show, not idea quality): 2/9 — missing: six required answers, market size cites a source, a metric with a date, a founder-stated risk, a named, linked team member, legal entity named, B1 filing published
- B1 transparency filing: not filed (predates the requirement)
- concentration: top wallet 9JXu4Fh7sdbymsZm12vYsq1kZsQi2m6uVXkUngtn8BBm holds 55.4% of committed capital (sample: first 6 funding records)
- vetting: none — anyone can publish a raise for $15; do your own research

## Founder claims (unverified — absence is itself a disclosure)

- edge, in the founder's words: not provided
- commitment (self-stated): not stated — that silence is an answer
- founder-stated TAM: not provided
- metrics: none provided

## Links (founder-provided — verify control yourself)

- website: https://dgnterminal.com
- x: https://x.com/dgnterminal
- telegram: https://t.me/dgnterminal
- docs: https://www.dgnterminal.com/docs

## Onchain

- raise: 83fAjVrKqN3KN8UAFPunRNygTHMmkRRGd3KUKgeSXKx7 (v0.7)
- token mint: 83GbBeemRAP1GttD5Ev3zE8neCe4CcZ2Gcb6gxz8meta
- quote mint: EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v
- base vault: 7Zhk2pUL83Af2ZM9jKdRFbQsYrJiJ6eUEcfFPCNCjHU5
- quote vault: 8LcaNvvwodHyPNJcnr1Fm8NVsQgciFwqZ6Sa1ZQN7mzz
- authority: LRrTQLqFzAPxjschuAKQAqH1XHBuBgHqwhybENStARt

## Founder's pitch (verbatim, frozen at publish, unreviewed)

# Degen Terminal

**The AI-native, multi-chain trading terminal at the center of the DegenTools ecosystem.**

On-chain trading is fragmented. A different app for every chain, separate charting, separate safety checks, and a wallet that lives somewhere else. Degen Terminal collapses all of it into one surface across Solana, BNB Chain, TON and Robinhood Chain.

## What we've built

- **Stay safe** with automatic pre-trade safety checks on every token — honeypot, liquidity and holder-concentration risk surfaced before you buy
- **Discover** with AlphaScan, an AI engine that scores new tokens in real time so discovery is signal, not noise
- **Trade** with instant multi-chain swaps, native bridging, and advanced order types — limit, take-profit, stop-loss and TWAP
- **Launch** a token without leaving the terminal, powered by Meteora's Dynamic Bonding Curve
- **Earn** real on-chain cashback on trading fees, plus referrals, quests and a live leaderboard
- **Extend it** with a Telegram trading bot and buy-alert bots that bring the terminal into any group chat

We built all of this bootstrapped, through the bear. The terminal is live across four chains with 2,000+ signed-up users across the ecosystem before any real growth spend.

**Recognition:** accepted into Alchemy's $20M Solana Fund · winner of the Jupiter Colosseum developer-experience sidetrack · winner of the Bags.fm hackathon.

## Market & differentiation

**Target market:** on-chain traders, from degens to serious desk users, who today juggle five disconnected tools across chains to make a single trade. We build in and for African and emerging markets, the hardest and most defensible place to win crypto users.

**Where we win:**

- **Multi-chain from day one**, with native bridging. Most terminals are locked to a single chain; we route across four in one flow.
- **Genuinely AI-native.** AlphaScan scores tokens continuously on activity, liquidity and holders.
- **Safety built in.** Every token gets automatic pre-trade risk checks, so rugs and honeypots are flagged before the buy, not after.
- **All-in-one.** Discovery, trading and launching happen in the same app, so every launch feeds trading flow back into the terminal.
- **A real network.** Partners and integrations across Definitive.fi, Jupiter, 1inch, LiFi, STON.fi, Meteora, Privy, Helius, plus DAEMON Terminal, Xona/XPay, Wayge Markets and SAID Protocol.
- **Near-zero friction.** Built-in wallets with no extension, real cashback, a fast keyboard-first command palette.

Competitors: Photon, BullX, Trojan, GMGN, Axiom on trading; DEX Screener and DEXTools on discovery.

## Use of Funds

Lean by design. We're bootstrapped and already disciplined on spend, so this raise isn't runway to survive on — it's growth capital, and one part of a wider funding path.

Of the $20,000 raised, 20% ($4,000) seeds the liquidity pool, leaving ~$16,000 in the treasury. Our actual burn is around $2,000/month, so we're setting a **monthly spending limit of $2,600** — roughly 30% above burn, drawn under futarchy governance, with anything larger going to a token-holder vote. That's about **8 months of runway**, and every extra dollar of demand deepens liquidity rather than dilution.

**Monthly burn (~$2,000):**

| Line item | Monthly | Share |
| --- | --- | --- |
| Infrastructure — RPC, data and hosting across four chains | $800 | 40% |
| Marketing & distribution — creator/KOL and community channels | $700 | 35% |
| AI & tooling — AlphaScan and dev services | $300 | 15% |
| Contingency | $200 | 10% |
| **Total** | **$2,000** | **100%** |

The spend points squarely at growth: putting budget behind the referral, community and creator channels that got us our first 2,000+ users, and bringing our revenue features to market. Deeper hiring and security audits sit under our broader funding path.

The spend points squarely at growth: putting budget behind the referral, community and creator channels that got us our first 2,000+ users, and bringing our revenue features to market. Deeper hiring and security audits sit under our broader funding path.

## Revenue

The token isn't decorative. Real usage across the terminal generates revenue, and we're rolling these streams out as the newer features come out of MVP:

- **Trading fees** on swaps and advanced orders across every chain
- **Launchpad fees** on tokens launched through the built-in Meteora launchpad
- **Token boosts** — paid visibility for projects in discovery
- **Verified tokens** — an optional verification tier for projects

A share of trading fees funds continuous buyback and burn of $DGNT, so usage feeds directly back into the token.

## Roadmap & Milestones

- **Q4 2026 — Launch & consolidate.** Launch $DGNT on Futardio. Run the announced snapshot and honour existing $DGN and $DEGENTOOLS holders through a separate, governed distribution.
- **Q4 2026 — Go to market.** Full marketing push on the launchpad and revenue features. Add chains and routers.
- **In active development — Perps.** Perpetuals trading inside the terminal.
- **Q4 2026 — Prediction markets.** Bring prediction markets into the terminal.
- **Q1 2027 — Power users & AI.** Headless API access for bots and power users, then an AI copilot for automated strategies and natural-language trading.

## Token & Liquidity

$DGNT is a single unified token for the whole ecosystem, launched with a fixed supply through Futardio. Liquidity is seeded at launch into a Meteora pool and a futarchy AMM from the raise, and grows as the raise does. 

*Trade everything. Everywhere. Intelligently.*

## How the mechanism works

- https://permissionless.metadao.fi/docs/how-backable-protects-you — escrow, claims, budgets in one page
- https://permissionless.metadao.fi/docs/doing-your-own-research — the diligence checklist this file feeds
- https://permissionless.metadao.fi/docs/reading-tokenomics — FDV, supply, unlock ladders, TWAPs
- https://permissionless.metadao.fi/docs/committed-vs-raised — why committed and raised differ