# Introduction

NAV-Backed Token Incubator

Tokens have gone through multiple evolutions, from ICOs, DeFi, play-to-earn, NFTs and social tokens, to DAOs. Each cycle revealed the same truth: tokens succeed when they create utility, align contributors, and compound value over time.

**Skycastle exists to apply these lessons.** We are not a casino, a launchpad, or a fund. We are a network of founders, Partners, and advisors aligned through a single index token: **SKY**.

Our mission is simple:

* Incubate early-stage builders in exchange for 5% of token supply.
* Consolidate those holdings into NAV\*.
* Reinforce a price floor with buybacks.
* Give every SKY holder exposure to the upside of the network.

**When one project wins, every SKY holder wins.**

*\*Net Asset Value (NAV) = market value of treasury (SKY + ETH + incubated token holdings) + open market positions*

<br>


# Why Skycastle?

## The Problem

* Thousands of tokens launch each quarter → almost all underperform ETH.
* Builders ship in isolation, without coordinated capital, distribution or expertise.
* Investors rotate across narratives, burning attention and capital.

## The Solution

Skycastle consolidates fragmented effort into one NAV-backed, index-style token and incubation engine:

* **NAV-Backed Floor**: Buybacks executed by treasury when SKY < NAV.
* **Index Exposure**: one token captures the upside of many, helping mitigate standalone risk.&#x20;
* **Incubation Engine:** tokenomics, product, GTM, distribution, launch and scale support.
* **Partner & Council Network**: curated experts committed to builder success.


# The SKY Token

## Purpose

SKY is the coordination and value accrual mechanism for the network. It is a NAV-backed index of builders.

## Supply & Allocations (100B total)

| Bucket             | % of Supply | Notes                      | Vesting                |
| ------------------ | ----------- | -------------------------- | ---------------------- |
| Partner Seats (30) | 30%         | 1 ETH = 1% supply          | 6-mo cliff, 18-mo vest |
| Council Seats (64) | 10%         | 0.25 ETH = 0.15625% supply | 6-mo cliff, 6-mo vest  |
| Team (2)           | 20%         | Basil, Garrett + soft flex | 6-mo cliff, 30-mo vest |
| Incentives         | 30%         | Partners, Council, eco, LP | 5% day one, 24-mo vest |
| LP                 | 10%         | 1-sided v4 pool            | Locked                 |


# Incubation Engine

## Stages of Incubation

1. **Strategy & Market Fit** – refine product + token design.
2. **Product Build** – dev assistance, integrations, validation.
3. Brand & UX – frontend, docs, identity kits.
4. **Comms & GTM** – narrative building, content calendars, launch strategy.
5. **Tokenomics** – allocations, lockups, and incentive design.
6. **TGE Launch** – network provides initial holders + validators.
7. **Scale** – Partners run campaigns, liquidity support, long-term advisory.

## NAV Mechanics

* **NAV Formula**: market value of treasury (SKY + ETH + incubated token holdings) + open market positions
* **Incubation Capture**: 5% of supply of each incubated project, locked 6 months
* **Buyback & Burn:** triggered when SKY < NAV


# Network Structure (100)

* **Founders (2)**: Basil (FT), Garrett (PT).
* **Partners (30)**: curated high-leverage mentors, advisors, and operators.
* **Council (64)**: invite-only post-TGE expansion.
* **Advisors (4)**: Reserved. No allocation.


# Seats & Valuation

## Pre-TGE Contributions (34 ETH)

* **Partner Seats**: 30 ETH (30 × 1 ETH)
* **Founders**: 4 ETH (2 × 2 ETH, non-dilutive, contributed into treasury)
* **Total Pre-TGE:** 34 ETH

## Post-TGE Expansion (16 ETH)

* **Council Seats**: 16 ETH (64 × 0.25 ETH)
  * Invited gradually by Partners + Founders (2 invites each)
  * Contributions route to the same treasury pool

## Contributions at Market

* **Aggregate Contributions**: 50 ETH (34 ETH pre-TGE + 16 ETH post-TGE)
* **FDV at Launch**: 100 ETH&#x20;
* **Adjusted FDV (assuming all 64 council seats filled)**: 115 ETH


# Incentives (30%)

A unified incentive pool aligns Partners, Council, and the broader ecosystem.&#x20;

* **Referrals (5%):**
  * 0.1% of supply awarded per successful referral.
  * Up to 50 referrals total.
* **Office Hours (10%):**
  * 0.1% of supply distributed per incubation contribution (1–2 per project).
  * Rewards Partners & Council who actively mentor builders.
* **Ecosystem (5%):**
  * Grants to builders and community projects.
  * Distribution campaigns (airdrops, hackathons, GTM events).
  * Flexible growth capital for experiments and distribution.
* **LP & Reserve (10%)**

<br>


# Team

## Founders

[Basil](https://farcaster.xyz/itsbasil) – Consultant and former IR strategist, now exploring the frontier of onchain capital markets. His work focuses on designing token systems that move beyond speculation toward scalable, incentive-aligned outcomes.

[Garrett Skrovina](https://farcaster.xyz/garrett) - Head of Crypto at Lazer Technologies and a product-minded founder, builder, and investor. He works with engineers and founders on product, economic, and growth design for social and consumer crypto applications, drawing on prior experience at CoinDesk and Roc Nation.

## Partners

[0xmon](https://x.com/0xmons) – Smart contract engineer, artist, and angel investor. Known for building SudoSwap, he helps founders think through contract design and liquidity mechanics.

[Leighton Cusack](https://x.com/lay2000lbs) – Co-founder of PoolTogether and PleasrDAO, and head of Ecosystem at Tools for Humanity (Worldcoin). With prior SaaS founder experience, he helps founders navigate protocol design and community-driven finance.

[Tim Reilly](https://farcaster.xyz/tldr) – Co-founder of Bracket, live sports prediction markets on Base. With a background spanning BCG consulting, edtech startups, and ancient Greek philosophy, he guides founders on product strategy and AI integration.

[Vijay](https://x.com/vijaymichalik) – Builder in crypto since 2017, with leadership roles at Consensys and Superfluid. He supports founders with product, protocol, and infrastructure development across DeFi and L2 ecosystems.

[Jack Dillé](https://farcaster.xyz/j4ck.eth) – Designer, artist, and DJ, formerly at Google with three design patents. As cofounder of Icebreaker.xyz, he helps projects refine product design and user experience.

[Atown](https://x.com/AtownBrown) – Product leader with 10+ years bridging e-commerce and Web3, currently crypto growth lead at Lazer Technologies and founder of Metaseed Labs. He brings expertise in smart contracts, developer tooling, and GTM execution.

[Jack Dishman](https://farcaster.xyz/dish) – Boston-native software developer and co-founder of Clanker. He helps founders with NFTs, applied AI, and token design for Farcaster/Base ecosystems.

[Limone](https://farcaster.xyz/limone.eth) – Software engineer turned product with 7+ years of experience. Leads Builders Garden, a mini-app studio on Farcaster, and co-founded Urbe.eth, the Italian Web3 community with a hub in Rome. He helps founders with product strategy, UX, and community growth.

[Luc de Leyritz](https://farcaster.xyz/luc) – Early-stage investor and GP at Re7 Social, backing consumer-social founders and building Faircaster. He helps founders with fundraising, investor access, and social-app strategy.

[Will Minshew](https://farcaster.xyz/w) – Serial founder with a deep background in tech and finance; co-founder of Splits and multiple startup ventures. He helps founders with company design, incentive structures, and capital strategy.

[Flood](https://farcaster.xyz/fffflood) – CEO of Operating System, a design and development studio focused on Base, Farcaster, and Clanker projects. He helps founders with design execution, UX, and Farcaster-native development.

[Derek Brown](https://farcaster.xyz/derek) – Product-focused builder and founder of Birthday Labs, creating open digital economies that increase human freedom; previously CEO/founder of Bunches. He helps founders with product strategy, design, and AI-driven consumer experiences

[Colin Charles](https://x.com/bytebot) – Early MySQL developer and co-founder of MariaDB Server with decades of open-source and infra experience. He helps founders with technical architecture, scaling, and connecting to developer and service-provider networks.

[Jakub Rusiecki](https://x.com/jakub_rusiecki) – Founder of multiple DAOs, raising over $4M to invest and coordinate early crypto projects; now at 1kx Capital and Social Graph Ventures. He helps founders with investor access, DAO structuring, and gaming/social ecosystems.

[Div](https://farcaster.xyz/div) – Cofounder of Noice, builder across multiple 0→1 startups. He helps founders with product design, rapid prototyping, and scaling social/consumer crypto applications.

[Six](https://farcaster.xyz/six) – Product manager and writer with experience across big tech, startups, and onchain communities. He helps founders with product, growth, and bridging consumer and creative ecosystems.

[Kia](https://farcaster.xyz/kia.eth) – Product manager with experience across DeFi (WBTC, Balancer) and custody/wallets (BitGo). Currently at FalconX. He brings token design and infrastructure expertise to help founders launch securely and at scale.

[AndroidSixteen](https://farcaster.xyz/androidsixteen.eth) – Farcaster anon, active in crypto for \~6 years as an angel investor and founder of Pinetree. He supports early builders with product instincts and long-term network perspective.

[Kyle McCollom](https://x.com/kyle) – Entrepreneur exploring onchain culture at Clicker. His background as founder, trader and anon community builder helps founders think creatively about distribution and identity.

[Nicky Sap](https://farcaster.xyz/nickysap) – Developer, writer, and entrepreneur focused on building simple, useful solutions for real people. With patented blockchain technology and experience leading a 50+ person crypto enterprise, he helps projects bridge technical execution and market fit.

[Grin](https://farcaster.xyz/grin) – Serial founder and community builder behind TopScore, LBRY/Odysee, VibeCamp, FarCon, and Fractal.Boston. Now building at Neynar, he offers deep experience in founder execution and community formation for scaling projects.

[Toady Hawk](https://farcaster.xyz/toadyhawk.eth) – Serial entrepreneur specializing in community, branding, and creator economy ventures. As an OG Nouns DAO member and founder of The Yellow Collective, Zero Rights Media, and BETRMINT, he brings grassroots growth and onchain experimentation expertise.

[Matthew Fox](https://farcaster.xyz/matthewfox) – Founder of Categorically Large, building consumer gaming products at the intersection of crypto, AI, and open social. With prior experience in entertainment, media, and product development, he helps founders design engaging consumer experiences.

[Brian Flynn](https://farcaster.xyz/flynn.eth) – CEO of Boost, previously at Dapper Labs and OpenSea. He focuses on incentive design and growth strategies that help builders capture sustainable adoption.

[Debbie Soon](https://farcaster.xyz/debbie) – Two-time founder and author of Digital Mavericks. Now Head of Marketing at Privy, she brings experience in venture-scale growth, creator marketplaces, and global category expansion.

[Samuel Huber](https://farcaster.xyz/samuellhuber.eth) – Computer scientist from ETH Zurich with a background in penetration testing and financial application security. As founder of dTech, he leads development across Farcaster and Base, helping builders deliver polished, user-friendly applications.

[Redphone](https://x.com/redphonecrypto) – Chief storyteller at Delphi Labs and longtime crypto trader and DAO contributor. He advises founders on narrative design, marketing, and DAO governance, with a track record spanning Yearn Finance, BRC-20, and PleasrDAO.

[Mike Tomaino](https://farcaster.xyz/yekim) – Partner at 1confirmation. He brings years of venture investing experience to help founders refine positioning and access capital.

[Kompreni](https://farcaster.xyz/kompreni) – Developer and founder building Ethereum applications since 2017, including Cent, which popularized social NFTs. He now builds tools for app developers and Farcaster ecosystem projects.

[Sahil](https://farcaster.xyz/sahil) – Builder in crypto since 2016, cofounder of Harmony and leader of Harvard Crypto Club. Now working on Cura Network and OpenRank, he brings deep product and reputation protocol expertise to support community-driven founders.


# Treasury Design

* **Internal R\&D (50%)**: infra, dashboards, bots, tooling.
* **Market Ops (50%)**: buybacks, LP, treasury hedges, distribution campaigns.
* **Transparency**: NAV updated periodically via dashboard; all contracts public.


# Governance & Contracts

## Governance

* **Entity**: DAO LLC as operator + treasury manager.
* **Execution**: centralized ops, no governance theater, transparent reporting.
* **Accountability**: public NAV dashboard & incentive distribution logs (coming soon).

## Contracts

* **Treasury**: 0xf85B95dEC02cEf1d7a7cB36680BAb392E455bDDd
* **Incentives**: 0x00aA21fDe4dEF11b069bBBfc4179A49Ed8209551
* **Team**: 0x6499B592eC5f1fcc905952D5228E4e552150850a

## Launch Configuration&#x20;

* **Clanker**: V4.1
* **Starting Market Cap**: 30 ETH&#x20;
* **Contract Address**: 0x9B5037B68C6eD686A1f433e5EEF9513BB1801b07
* **Dynamic Fee**: 1-3%
* **Fee Route**: Taken as compensation.


# Roadmap

## Phase 1 (Launch)

* Pre-TGE raise of 34 ETH (30 ETH Partner + 4 ETH Founders)
* Deploy NAV dashboard + buyback contract
* Onboard first builders&#x20;

## Phase 2 (Scale)

* Expand Council: invite 64 members post-TGE, contributing 16 ETH
* Incubate and launch first projects
* Run distribution campaigns

## Phase 3 (Mature)

* SKY evolves into the coordination token for Farcaster & Base
* NAV compounds via incubations and treasury growth
* Index exposure across leading crypto apps


# Risks & Disclaimers

The SKY token is not an investment contract, financial instrument, or security. It does not represent equity, ownership, or a claim on profits of Skycastle or any related entity. Instead, SKY functions as a **membership and coordination token**—a way to access, participate in, and align with the Skycastle network of builders, partners, and council members.

Holding SKY should be understood as holding a s**eat within a network**, not as an expectation of financial return. The design of SKY focuses on aligning contributors, curating deal flow, and coordinating incubation efforts. It is a token associated with **a network of builders and projects**.

## Key Understandings

* SKY is a **utility and membership token**, intended for network participation and alignment.
* There is **no expectation of profit solely from the efforts of others**.
* Contributions of ETH for Partner or Council seats are **network participation commitments**, not investments in a security.
* Skycastle makes no representations or warranties about future value, liquidity, or success.

## Key Risks

* **Market Volatility:** The price of SKY may fluctuate significantly due to market forces outside Skycastle’s control.
* **Liquidity**: SKY may be thinly traded; holders may not be able to exit their position easily.
* **Project Risk**: Incubated builders may fail, deliver below expectations, or abandon projects, reducing NAV.
* **Operational Risk**: Skycastle’s treasury and incubation engine may face technical failures, mismanagement, or unforeseen disruptions.
* **No Guaranteed Buybacks**: While the network intends to use NAV-based buyback mechanisms, execution and outcomes are not guaranteed.
* **Forward-Looking Statements**: Any roadmap or projection in this document is speculative and may not occur as described.

**Participants should engage only if they understand and accept these risks, and only if they wish to actively contribute to the Skycastle ecosystem of builders.**