$WIRE Litepaper

Abstract

The $WIRE token is a utility asset integrated with the 717ai Agent.

717ai is designed to:

  • Interpret institutional-grade market data;

  • Execute on-chain investment strategies;

    • Enhance 717 Capital’s OTC settlement timelines/pricing;

    • Generate independent revenue for $WIRE - wholesale borrow/lend, market making, yield-generating, arbitrage, etc.

  • Interact with $WIRE holders;

  • Become the leading OTC settlement Agent;

    • Provide services to existing real-world businesses, Investment DAOs, other AI agents, etc.

$WIRE token is designed to:

  • Access 717ai Terminal;

  • Subsidize token holder value via $WIRE buybacks;

  • Provide exclusive access to partner venues and other AI Agent customers.

  • Provide liquidity on all DeFi markets.

    • Fees earned will be contributed to $WIRE buybacks.

About The Team

Powered by the team at 717 Capital, 717ai was deployed with a real-world use case to enhance our digital settlement operations, scale our business outreach, and establish a public-facing community.

Since 2017, our Founder has worked professionally in the digital asset industry servicing some of the largest industry players in regards to compliance, trade settlements, payments, borrow/lending, and bank account servicing. We are proud to have established long-standing business relationships which resulted in > 9-figures of USD settlement volume over the last 12 months.

Before, our business relied solely on our private institutional relationships, and word of mouth.

Now, 717ai also gives us the ability to market our services to the public. Creating further value for $WIRE holders.

$WIRE: Tokenomics

Team Allocation = 3%

~1.5% - to cover development costs, project growth, etc.

~1.5% - for team member’s to be aligned in 717ai’s success.

*The team expects to fund 717ai beyond the reserved 1.5% via business revenue.

Token Buybacks

717ai has implemented a ‘loose’ token buyback program based on the settlement fees earned from our core business.

In the first 2 days, 717ai settled 1,776,551 USDT for 717 Capital clients, resulting in 1m+ $WIRE tokens being burned.

Over time, we will build models for 717ai to handle ALL token settlements, rather than just USDT. We will also optimize the shared buyback volume based on the settlement performance of 717ai.

For now, the math is as follows:

Settlement volume * .12% = buyback value

For every $100m in settlement volume, that equates to $120k in buybacks. Again, subject to further optimization.

All buyback tokens will be removed from circulation and burned.

$WIRE Incentives

  • 717ai Terminal Access - institutional-grade market data, business support/knowledge, finance-related discussions, etc.;

  • Cost-saving Utility - 717ai has been instructed to subsidize settlements;

    • As such, 717ai is able to negotiate cost savings for counterparties, while increasing utility value for $WIRE holders;

    • For example: Another AI Agent may request a token settlement to fund operational costs. If the Agent is settling an exotic token, 717ai may have a hard time offering competitive rates on low-caps. Instead, 717ai is instructed to subsidize the settlement (as he would with normal $WIRE buybacks) in return for airdrop allocations, exclusive access to other AI terminals, etc.;

  • Counterparties will be able to earn settlement discounts by paying fees in $WIRE.

717ai Feature Roadmap

In the financial business, we like to keep it as simple as possible. While these steps are clear & concise, each sub-bullet will require additional nuance and will be developed according to feedback from $WIRE holders.

  • On-chain USDT settlements;

    • Further increase settlement support for all tokens (BTC, ETH, USDC, etc.);

  • Terminal Access;

  • Deploy on-chain investment strategy;

    • 717ai will return a portion of investment income to $WIRE holders;

  • Utilize X (Twitter) to raise 717ai awareness, further develop and market services, to increase settlement business growth and client outreach.

    • As 717ai settles more transactions, $WIRE buybacks will increase.

Team Vision

The 717 Capital team made sure to align 717ai, $WIRE, and our settlement business objectives.

If executed correctly, 717ai will be a powerful OTC settlement agent with a limitless feedback loop. As his sentient knowledge and capabilities increase, so will his settlement efficiency, on-chain investment strategies, and business development skills. Terminal access for $WIRE holders will improve, and $WIRE buybacks will increase.

The beauty of 717ai and $WIRE is that our project already has a real-world business use case. With the support of 717ai and $WIRE holders, the sky is the limit.