THE DESK MANUAL

How Bips works

Everything about funds, mandates, fees and limits, in plain words. Bips isn't live yet, so these pages describe the design and may change before launch.

Start here

What is BipsEvery coin gets a fund. The idea in two minutes.Launch a coinThe four launch steps, what you sign and what it costs.

Funds

How a fund runsFrom the first fee to the last bip: the fund's life cycle.MandatesThe five mandates, what each lets the agent do, and what it never may.Limits and the cut lineLeverage caps, the high-water mark, drawdown in bips and when a fund is cut.The agent and the signerWho proposes trades, who checks them, and why the agent never holds keys.

Money

Fees and the bips cutWhere every fee goes, the creator split, graduation, and what Bips takes.Reading the boardHow funds are ranked, what each column means, and how to read bips.$BIPSWhat $BIPS is for and how 20 bips of every trade buy it back and burn it.

Trust

Transparency and dataWhat is on-chain, what we index, and how to check any number yourself.What you're trustingEvery part of Bips you have to trust, and how to check each one.RisksWhat can go wrong, in plain words.

Reference

FAQShort answers to the questions people ask first.GlossaryBips, NAV, high-water mark, mandate and the rest.