> For the complete documentation index, see [llms.txt](https://the-heist-1.gitbook.io/the-heist-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://the-heist-1.gitbook.io/the-heist-docs/tokenomics/loot.md).

# LOOT

![LOOT](https://405496903-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FmmqHSz2D83klCEtP0VTs%2Fuploads%2Fgit-blob-4313a5f82ba33bdfd70e8ea36992dee46fcc52a7%2Flogo-loot.svg?alt=media)

LOOT is The Heist's pegged token — a plain, ordinary token with no hidden transfer tax, no blacklist, and no freeze switch built into it. Every mechanism that manages its supply and defends its price lives in the surrounding protocol, not in the token itself. That's what lets LOOT behave like any normal token everywhere else — in a wallet, a lending app, a bridge, no surprises.

## Target price

**1 LOOT = 0.001 WETH.**

This is the level [the Printer](/the-heist-docs/how-it-works/the-peg-and-the-printer.md) creates new supply against, and the level [the trading pool](/the-heist-docs/how-it-works/trading-and-dynamic-fees.md) sets its fees around.

## How new LOOT gets created

| Source                | What happens                                                                                                                                                                                                                                                                  |
| --------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| **Genesis**           | 5,000 LOOT, streamed to [Genesis](/the-heist-docs/how-it-works/genesis.md) depositors over the 72-hour launch window, split between the USDG and WETH pools.                                                                                                                  |
| **Starter liquidity** | A small amount seeded at launch purely to get price discovery started — the pool's real depth grows afterward through the ongoing fee-funnel described in [Protocol-Owned Liquidity](/the-heist-docs/how-it-works/protocol-owned-liquidity.md), not a big upfront commitment. |
| **Ongoing creation**  | The **only** other way new LOOT ever enters circulation. Created exclusively by the Printer, exclusively when the price sits above target, capped per check. See [The Peg & The Printer](/the-heist-docs/how-it-works/the-peg-and-the-printer.md).                            |

**No other way to create LOOT exists, anywhere in the protocol.** The one address ever allowed to create it is locked in at launch and can never be changed.

## How LOOT gets destroyed

LOOT gets permanently removed from supply in three situations:

1. **Cashing in at the Floor** — trading LOOT for its fair share of [the Floor](/the-heist-docs/how-it-works/the-floor.md)'s WETH balance. This pays out WETH in exact proportion to what's burned, so it doesn't change the Floor's payout rate either way — a completely neutral, no-cost exit is the whole point.
2. **The Hideout's claim cost** — the shrinking cost paid for claiming a fresh batch early (see [The Hideout](/the-heist-docs/how-it-works/the-hideout.md)) is destroyed outright, not sent to a treasury or anyone's wallet.
3. **Unclaimed batches, after 90 days** — a batch nobody ever claims eventually sweeps to the same fate (see [The Hideout](/the-heist-docs/how-it-works/the-hideout.md)).

Unlike a Floor cash-in, #2 and #3 remove LOOT with no WETH leaving anywhere — pure supply reduction. That's what pushes the Floor's payout rate (WETH held ÷ LOOT remaining) up over time, on top of whatever the Floor's other income sources are already adding.

## Why no transfer tax

Building a tax directly into the token's transfer function would make LOOT hostile to anything that doesn't expect it — a lending app that assumes a transfer moves the full requested amount can break in ways that put user funds at risk. Every cost related to LOOT's price is instead collected at the trading-pool level (see [Trading & Dynamic Fees](/the-heist-docs/how-it-works/trading-and-dynamic-fees.md)), so the token itself stays exactly as ordinary as any other token everywhere else.


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