┌── DOSSIER № 03 · TOKEN ──┐▌ READ-ONLY

         ╭───────╮
        ╱  $TOLL ╲          ┌──────────────────┐
       │  ▓▓▓▓▓▓▓ │         │  FAIR LAUNCH     │
       │  ░░T░░   │         │  via @clanker    │
       │  ▓▓▓▓▓▓▓ │         │  no team alloc   │
        ╲        ╱          │  no premine      │
         ╰──────╯           └──────────────────┘
       BASE · ERC-20 · utility token

$TOLL utility.

$TOLL is the access and curation token for the TOLL protocol. It is not a payment token — fees flow in USDC. $TOLL exists to align the people who run, list, and curate tools with the long-term quality of the registry.

DISCLOSURE

$TOLL is a utility token launched fair via Clanker on Base. No pre-mine, no team allocation, no VC unlock. Trade at your own risk. Nothing on this page is financial advice; see FAQ for full disclaimers.

What it does

Function	Who uses it	Status
Tool listing stake	Tool operators	Q3 · 2026
Curator vouching + slashing	Reviewers	Q4 · 2026
Fee rebate on gateway calls	Agent operators	Q4 · 2026
Governance on registry parameters	Holders	2027

Sources of demand

Tool listings. Operators stake $TOLL to register a tool. Higher stake → higher placement in discovery.
Curator markets. Reviewers stake on a tool's quality claim. Win share of fees if right; slashed if the tool degrades.
Fee rebates. Agents that hold $TOLL earn a discount on gateway take. Funds a recurring buyback if usage materializes.

Distribution

100% fair launch via Clanker on Base. No allocation to team, no allocation to investors.
Liquidity locked at launch via the Clanker mechanism.
Protocol revenue (if any) flows through a multisig controlled by early contributors during alpha. Migrates to on-chain governance with curation rollout.

What $TOLL is not

Not the payment token. Agents pay tools in USDC. $TOLL is never required to make a call.
Not a security. No promise of returns. No claim on revenue. Utility is what's described above.
Not a governance token at launch. Governance is on the 2027 roadmap; until then, parameters are set by the contributor multisig with public changelogs.

Honest risk callout

Most Clanker launches die. Demand for x402-paid tools is real but early. Treat $TOLL as a bet on the agent-economy narrative, not a guaranteed cash flow instrument. The protocol can ship and the token can still go to zero, and vice versa.

Next: FAQ →