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# MERRY

![MERRY](https://405496903-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FmmqHSz2D83klCEtP0VTs%2Fuploads%2Fgit-blob-8e83d76e8da3bd17c6b5df71b90acf2d78f8f113%2Flogo-merry.svg?alt=media)

MERRY is The Heist's share token. You stake it in [the Hideout](/the-heist-docs/how-it-works/the-hideout.md) to earn a piece of the protocol's growth. However many MERRY tokens will ever exist is decided the moment the token is deployed — that number can't change afterward.

## Hard cap: 100,000 MERRY, forever

100,000 is the absolute maximum. Not a target, not a plan — there is simply no function in the contract capable of creating a 100,001st token, no matter who is asking. This is checked automatically every time any MERRY gets minted, the same way a bank vault's door either opens or it doesn't.

## Where the 100,000 come from

| Who gets it                       | Amount       | How it arrives                                                                                                                                                                                                                                                |
| --------------------------------- | ------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| **Liquidity providers & farmers** | 75,000 (75%) | Paid out gradually over \~24 months to anyone staking LP tokens in [Gauge Farms](/the-heist-docs/how-it-works/gauge-farms-and-voting.md) — see the schedule below.                                                                                            |
| **The team**                      | 10,000 (10%) | Trickles out automatically, second by second, over 24 months. Nobody — not even the team — can speed this up or grab it early.                                                                                                                                |
| **Treasury operations**           | 7,500 (7.5%) | Same automatic, second-by-second trickle over 24 months, into a separate pool earmarked for running the protocol (development, security reviews, infrastructure, contributors).                                                                               |
| **Treasury reserve**              | 7,500 (7.5%) | Sits untouched until the community multisig proposes moving some of it — and even then, only after a public waiting period, for a specific stated purpose (partnerships, exchange listings, incentives, emergencies). Nothing here moves automatically, ever. |

Three-quarters of every MERRY that will ever exist is earned by people actually using the protocol — providing liquidity and farming it — not handed to insiders up front.

The 20% set aside for the team and treasury operations (rows 2 and 3) doesn't arrive as a lump sum at launch. It streams out continuously over two years instead, at a fixed, predictable rate that nobody can change, pause, or accelerate. You can check the running balance on-chain at any moment — it's a live number, not a promise about some future date.

The remaining 7.5% (row 4) is the one exception to "nothing sits idle" — it's a genuine rainy-day fund, deliberately built so nobody can touch it on a whim. Moving any of it requires a public proposal, a mandatory waiting period, and a stated reason, and even then anyone (not just the proposer) can execute it once the wait is over.

## Emission schedule

The 75,000 MERRY earned by liquidity providers doesn't pay out at a constant rate — it starts fast and slows down over time, roughly halving every couple of months:

| Months since launch | Rate, relative to the starting rate |
| ------------------- | ----------------------------------- |
| 1–2                 | Full rate                           |
| 3–4                 | Half                                |
| 5–6                 | Quarter                             |
| 7–9                 | Eighth                              |
| 10–24               | One-sixteenth (a long, thin tail)   |

The starting rate is calibrated so the whole schedule adds up to exactly 75,000 MERRY by month 24. Front-loading it this way means the biggest rewards go to the people who show up early and help bootstrap real liquidity, when the protocol needs it most.

## What MERRY is actually for

MERRY has one job: **get staked in the Hideout.** Staking earns you three things at once:

* A share of every new batch of LOOT the [Printer](/the-heist-docs/how-it-works/the-peg-and-the-printer.md) mints, weighted by how loyal your stake has been (see [The Hideout](/the-heist-docs/how-it-works/the-hideout.md)).
* A running share of the [Treasury](/the-heist-docs/how-it-works/the-treasury.md)'s WETH revenue.
* A vote in the weekly decision on how farm rewards get split across pools (see [Gauge Farms & Voting](/the-heist-docs/how-it-works/gauge-farms-and-voting.md)).

## Why a hard cap instead of just printing more later

A share that can be diluted at any time eventually stops meaning anything as a share — if more can always be created, today's percentage is never really yours. Locking the total at deployment means every number in the table above is a permanent fact about the future, not a snapshot that quietly erodes as more gets minted down the line.


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