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Tokens

Tokens are the on-chain expression of a past cycle's Reward Points. Where Points are off-platform-chain bookkeeping, Tokens are blockchain-native assets you claim into a wallet you control. They settle the platform's promise that participation has value — and they're 100% backed by a treasury reserve.

How Tokens are minted​

Tokens are minted once per cycle, and only against a cycle that has locked in:

  1. Throughout the month, you accrue Reward Points in the current cycle. The Rewards page shows your estimated tokens for the cycle at today's treasury rate, but you can't claim yet.
  2. At month-end, the cycle locks in. The Points you earned that month become the basis for that cycle's Token payout, computed at the cycle's per-block-updated treasury rate.
  3. On the 1st of next month, the locked cycle becomes claimable. The Rewards page surfaces a per-cycle card with the amount and a Claim button.

There's no "soft claim" — until you connect a wallet and submit the on-chain transaction, the Tokens haven't moved.

The two-step claim flow​

Claiming a past cycle's Tokens is a deliberately two-step process. Both steps happen on the cycle's card:

1. Connect your wallet​

The Claim button asks you to connect a wallet. Any WalletConnect-compatible wallet works — MetaMask, Rainbow, Trust Wallet, Coinbase Wallet, and others. The connection also confirms the chain you're claiming on.

You don't need a wallet to earn Points; that flow is entirely off-platform-chain. Claiming Tokens is the only step in the rewards lifecycle that requires one.

2. Sign and submit​

Ratel issues a signed claim payload — a tuple of (amount, deadline, nonce, contract address, chain id) — for the cycle. Your wallet then submits the on-chain transaction that transfers the tokens from the treasury contract to your address.

Once the transaction confirms, the cycle's card flips to Claimed. The amount, the timestamp, and the transaction hash become part of the cycle's audit record.

Treasury rate and backing​

The treasury rate is the per-cycle exchange rate at which Points convert to Tokens at claim time. It updates every block, so the rate you see at the moment of claim is what you receive.

A treasury panel on the Rewards page shows:

  • Current rate — Points per Token at the most recent update.
  • Treasury balance — total Tokens held in reserve to back outstanding cycles.
  • Circulating supply — Tokens already claimed and in user wallets.
  • Backing ratio — anchored at 100% (fully collateralized).

The 100% backing is the platform's hard guarantee: every Token you claim is collateralized 1:1 by a Token already in the treasury reserve at the moment of claim. The treasury never over-issues.

What's (Coming soon)​

  • Section-level Swap All. A single-click bulk claim that batches every claimable cycle in one transaction. Today the Claim button is per-cycle (the in-app label currently reads Swap All — the i18n key is reused — but the action operates on one cycle at a time).
  • Off-chain cashout. Today rewards settle as Tokens via on-chain claim. An off-chain cashout flow for users who'd rather not handle a wallet is on the roadmap. Tier subscriptions are already billed off-chain via PortOne, but reward payouts are on-chain only at MVP.
  • Stablecoin denomination. Some Spaces will be able to denominate payouts in a fiat-pegged Stablecoin instead of the volatile native Token. Optional and host-configurable. (Coming soon)

The on-chain transaction is signed against your wallet and against the DID bound to your account. The DID is what cryptographically links the off-platform-chain Points ledger to the on-chain claim — it's the bridge that lets the treasury contract trust that the claim payload corresponds to the right participant.

You don't need to think about this normally; it's the platform plumbing that makes "claim past-cycle Tokens" safe to expose to a wallet. But if you ever audit a Token claim transaction on-chain, the DID link is what the contract verifies before releasing the tokens.