Dividends
What the desk earns goes to whoever holds the paper.
Every Friday at 20:00 UTC the desk sends USDG to every wallet holding at least 1,000 $BIGSHORT at the 19:00 snapshot, pro rata. Two streams fund it, both read live below.
Stream one: the desk's lending
Every short pays interest to the lenders, in the stock. The desk is a lender: three tenths of the creator fees buy stock that it lends into its own markets, and all the interest that stock earns goes to holders. Morpho lets no market creator skim the interest, so the desk earns exactly what any lender earns.
Stream two: the creator fee
$BIGSHORT carries a 1% creator tax on Pons (2% with Pons's own). Half of it goes to holders. Three tenths seeds the lend side of new markets. Two tenths is the team's.
Terms, published before the token exists. Snapshot Friday 19:00 UTC. Payout Friday 20:00 UTC in USDG. Minimum 1,000 $BIGSHORT. Payments below 1 USDG roll to the next week. Rehearsal payments are labelled and not counted. If a payout is late, the reason is posted here before 20:00.
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