MayBee Protocol · Whitepaper

$MAY: a fee-backed token
for on-chain prediction markets

MayBee is an on-chain prediction market built on Base. The $MAY token does exactly one thing: it routes the protocol's real trading fees back to contributors through weekly buybacks. One token, one liquidity pool, one value loop — zero VC, fixed supply, fully verifiable on-chain.

This document is for information only and is not an offer, solicitation, or investment advice. $MAY is a utility token representing a share of protocol fee flow. Participation is subject to the laws of your jurisdiction; the United States and mainland China are geo-restricted.

01Introduction

Prediction markets turn beliefs about the future into prices. On MayBee, users trade binary and multi-outcome markets — sports, politics, crypto, culture — where the price of each outcome is the market's live estimate of its probability. Funds remain self-custodied in the user's wallet throughout; the protocol settles on-chain after the event resolves. There is no central ledger to trust: the chain is the source of truth.

Why now. Prediction markets crossed from niche to mainstream in the 2024 cycle, when on-chain venues cleared billions in volume and were cited as a faster real-time signal than traditional polling. The category fits crypto natively: global, permissionless, always-on, and settled on a public ledger with no counterparty to trust. What has been missing is a token model that pays the people who actually supply the liquidity and create the markets — rather than the funds that backed the venue. MayBee is built around exactly that, on Base for cent-level fees and near-instant settlement.

Every trade pays a fee. That single, real fee stream is the only thing that backs $MAY. We took the playbook proven over four years by Hyperliquid, GMX and dYdX — fee-funded buybacks, points before token, zero VC — and removed everything that does not directly serve it.

02Protocol architecture

Markets are priced by an on-chain bounded-loss market maker (B-LMSR). Creators seed and configure markets and earn a share of their fees. Resolution is optimistic: an outcome is proposed, a dispute window opens, and the market finalizes on-chain. When an outcome is contested, bonded arbitration takes over — with an explicit final arbiter today and a path to decentralized arbitration, both detailed in §03.

03Resolution & dispute

Settlement is where a prediction market lives or dies, so MayBee makes it adversarial and bonded rather than discretionary. After a market's event resolves, the outcome moves through a four-step optimistic process:

1. Propose. Anyone can propose the resolving outcome by posting a bond into on-chain escrow (BondEscrow).
2. Challenge window. A fixed dispute window opens. If no one disputes, the market finalizes, pays out on-chain, and the proposer's bond is returned.
3. Dispute. A challenger posts a counter-bond, which freezes finalization and escalates to arbitration. The losing side of a dispute forfeits its bond to the winner — so honest proposals are nearly free, and false ones are expensive.
4. Finalize / void. The confirmed outcome pays out; an unresolvable one is voided and refunded.

The final arbiter — disclosed plainly. Today the final arbiter of a disputed market is the protocol's admin authority (a single cold address, see §13). Its arbitration decision executes only after an on-chain time-lock, so the decision is public and observable before it takes effect. This is an explicit, launch-phase point of centralization; the roadmap moves arbitration to a decentralized committee / escalation game as volume and token distribution mature.

Timeouts & edge cases. If no outcome is proposed within the configured window, or arbitration stalls, the market is voided. Voided, ambiguous, or invalid-source markets return collateral to participants pro-rata through a RefundMerkle — a gas-efficient, claim-based refund — so funds are never stranded. Oracle or data-source failure follows the same void-and-refund path. Bond sizes, the dispute window and the arbitration time-lock are on-chain parameters and are published.

04The $MAY token

$MAY is a fixed-supply ERC-20 on Base. It has three roles and nothing more: a claim on the protocol's future fee flow, the vehicle for outsized rewards to early real contributors, and a coordinator of incentives across users, LPs, creators and the protocol.

05Token distribution

70% of supply goes to the community, 20% to the team (4-year vest, 1-year cliff, on-chain), 10% to the treasury, and 0% to VCs. The public sale is carved from the treasury allocation — 5% of supply offered publicly to bootstrap audits, liquidity and operations, with the remaining 5% held in reserve. The headline split is unchanged.

06Emissions & unlock schedule

Supply is fixed at 1,000,000,000 with no inflation; what changes over time is the circulating portion as locked and incentive allocations vest. The schedule is anchored by three hard commitments: the public sale delivers at the token generation event (TGE); the airdrop vests 25% at TGE then linearly over twelve months; and the team's 200M is locked for a one-year cliff, then vests linearly to year four. The community-incentive buckets (LP mining, creator rewards, community-future — 500M combined) emit on a declining multi-year schedule that begins at TGE and is governed on-chain within the fixed cap. Initial DEX liquidity at TGE is seeded from the treasury reserve and from sale proceeds.

Indicative schedule. The team, airdrop and public-sale tranches are fixed commitments; the community-emission cadence is set on-chain and may be adjusted by governance, never exceeding the fixed 1,000,000,000 cap.

07Value capture: the fee flywheel

Trading fees are enforced on-chain between 2% and 5% (currently 4.5%) and split: 80% to the market creator, 20% to the platform, 0% to LPs by default. The platform's 20% is the protocol's explicit revenue, and 100% of it flows into the buyback engine.

Each week the engine uses accumulated USDC to buy $MAY on the open market. Half is sent to a burn address (permanent deflation); half is distributed to stakers in proportion to their stake. Stakers lock $MAY and receive distributions automatically; unstaking has a 7-day cooldown. This is real yield — the buyback is funded only by real fees, never by inflationary emissions.

08Liquidity: MayBee Vault

LPs deposit USDC into the MayBee Vault, which auto-makes markets that pass a curation ruleset. Returns come from two sources: the Vault's net-asset-value growth from market-making, and $MAY emissions weighted by shares and holding time. Following Hyperliquid's HLP rather than GMX's GLP, Vault shares are internal accounting and non-transferable — eliminating the premium/discount arbitrage that plagued tradeable LP tokens. A four-tier holding-time boost (1.0× → 2.0× at 180 days) rewards long-term LPs with zero extra actions. Withdrawals settle after a 7-day cooldown at NAV.

09The public sale

Ahead of the token generation event, MayBee opens a fixed-price public sale for the earliest supporters. USDC is paid in and $MAY is delivered immediately; by design the sale contract forwards proceeds straight to the cold treasury and never custodies funds, and the receiving address is immutable and cannot be redirected. The contract is third-party audited and verifiable on-chain.

Price consistency. The $0.01 sale price is the earliest reference price for $MAY. Initial liquidity at TGE will be priced no lower than the sale price, so public-sale participants are never disadvantaged by listing; part of the proceeds seeds that initial liquidity. Until on-chain liquidity is provided at TGE, sale tokens are transferable but have no secondary market. This section is informational and not an offer or investment advice.

10Points program → airdrop

In place of a private sale, a six-month points program rewards real usage. Points accrue from trading volume, LP holding, market creation and referrals, are tracked gas-free, and remain publicly auditable. At TGE, 20% of supply (200M $MAY) is distributed pro-rata to points. Points carry no committed conversion ratio — this is a loyalty program, not an investment contract. Airdrops vest (25% at TGE, 75% linearly over twelve months) to smooth sell pressure.

11Market & points integrity

A points program that rewards volume invites wash-trading, and permissionless market creation invites spam. MayBee addresses both directly rather than hoping they do not happen.

Market integrity. Creating a market is permissionless but bonded and curated: a creator posts a bond and a checkable resolution source, and a market that resolves invalid forfeits the bond. A curation ruleset — unambiguous terms, a verifiable resolution source, a defined expiry — gates which markets the Vault will auto-make and which are surfaced in the app; anything failing curation is unlisted, not featured. Resolution itself is the bonded optimistic process of §03.

Points & sybil resistance. Because every trade already pays the 2–5% fee, wash-trading to farm points is self-taxing: each round-trip burns real USDC, making volume-farming negative-expected-value unless someone is certain points will be worth more than the fees paid — and since points carry no committed conversion ratio, that certainty does not exist. On top of that economic friction, points weight fee-paying activity rather than raw notional; LP, creation and referral points have their own caps; on-chain heuristics flag self-trading and circular referral graphs; and detected abuse is excluded from the airdrop. Points records are public so the community can audit them.

12Roadmap

The token generation event is deliberately set ~6 months out so that real volume and a credible community can support it — we will not rush issuance. After TGE the buyback engine and staking go live, and the treasury transitions toward DAO control.

13Governance & treasury

Authority today is deliberately minimal and centralized for safety, with a published path to decentralization.

What $MAY will govern (post-TGE). The fee rate within its hard-coded 2–5% band, the buyback cadence and burn / stake split, the Vault curation ruleset and community-emission rates (within the fixed cap), treasury allocations, and the arbitration framework. Voting is token-weighted with a minimum quorum, and every passed change executes behind a time-lock, so it is observable before it takes effect.

What governance cannot do. Certain invariants are immutable in the contracts and out of governance's reach: the fixed 1,000,000,000 supply and the absence of any mint function, the ≤5% fee hard cap, and the immutable fee-receiver address. Governance can tune the system; it cannot dilute holders or redirect funds.

Treasury & keys. The 100M treasury is held by a team multisig in early phases and migrates to DAO control (voted by $MAY) thereafter; its mandate is audits, market-making and strategic work. All fee receipts and top-level admin authority are consolidated on a single cold address that is immutable on-chain and cannot be redirected. The team's 200M vests over four years with a one-year cliff via an on-chain, publicly inspectable contract, and any team sale is pre-announced 14 days in advance. Weekly buyback reports and a monthly treasury report are published.

14Compliance, risk & transparency

• Jurisdiction. Offshore issuing entity; site-wide geo-restriction of the United States and mainland China; participation is subject to local law.
• Framing. $MAY is a utility token representing a share of protocol fee flow; this document avoids investment / profit / dividend language by design.
• Audit. Core fund-custody contracts are third-party audited before holding real funds on mainnet; the public-sale contract is audited and verifiable on-chain.
• Transparency. Team vesting is on-chain; weekly buyback reports (buy price / amount burned / amount distributed) and a monthly treasury report are published.
• Market risk. Token launches are volatile. Airdrop vesting, deeper initial liquidity, treasury market-making and anti-snipe limits mitigate but do not eliminate day-one drawdown risk.

15Design philosophy: what we copied

Everything is a proven mechanism; zero novel complexity. The whole protocol reduces to one sentence: users trade → the protocol earns fees → fees buy back $MAY → holders share in the protocol's value. Everything beyond first principles is waste.

AGlossary

Disclaimer: This document is for informational purposes only and does not constitute an offer, solicitation of an offer, or any financial or investment advice. Digital assets carry risk; participation must comply with the laws of your jurisdiction. Tokenomics details are governed by the on-chain contracts and official announcements. Contract addresses above are verifiable on Basescan.