// Covenant \\
No owner.
Rules locked.
Covenant is the contract that collects PANTHEON’s share of every trade fee and does exactly what it was told at launch. No one can change it, including us. Any Ascend creator can launch a coin on it too.
It takes the fees
On Ascend, a coin’s creator gets half of every 1% trade fee. For PNTH, the creator is Covenant: a contract, not a person.
It does its jobs
On buys, 85% of the fee buys the basket for stakers. On sells, 85% burns PNTH. 15% of both pays the team. Every action leaves a public receipt.
Nobody can change it
There is no owner, no admin key and no upgrade. Its jobs were set the moment it was created.
Any Ascend coin can use it
PNTH is the first coin on Covenant. Any creator can now launch a coin whose fees get jobs that can’t be undone.
| Job | What the fees do |
|---|---|
| Burn | Burn the fees paid in the coin, so its supply only goes down. |
| Pay | Send a share to a wallet chosen at launch, like the team’s. |
| PANTHEON | Send a share of the USDC fees to the PANTHEON basket. |
| Stream | Pay a share out over a day through a staking contract. |
Fees paid in the coin can be burned, paid or streamed. Fees paid in USDC can be paid, sent to the PANTHEON basket or streamed. Up to six jobs a side.
Questions
Can the PANTHEON team take the fees?
Only its fixed share: 15% of PNTH’s fees pay the team, set when PNTH launches on mainnet and impossible to raise. The rest can only be burned or go to the basket. On testnet the team’s share is 0%.
What if something needs fixing?
It can’t be upgraded, so it is kept small and simple, and its code is public for anyone to review before launch.
Where can I see it?
PNTH’s Covenant is live on the Elysium testnet at 0xE0Fb…8b66. Every burn and payment it makes is on the explorer, and its code is verified there.