\$B is the ecosystem token for Baseline Markets, an asset issuance protocol where tokens own their liquidity, and automatically manage it to grow value over time.

## How \$B Accrues Value

\$B holders benefit from protocol activity in three ways:

1. **Token-Owned Liquidity**: Since \$B itself is a Baseline token, it inherits the properties of a  guaranteed floor price, and liquidity that grows token's value over time.
2. **Protocol Fees**: Trading fees from all Baseline markets flow to the protocol, which may be used for staking, airdrops and buybacks in the future.
3. **Token Pairing**: Some projects will choose to pair with \$B. Demand for partner token will route buy pressure through \$B.

These value accrual mechanisms create a self-reinforcing flywheel: as more projects launch on Baseline, more trading volume is generated, more fees are generated for \$B holders, and the value of \$B increases.

## Tokenomics

| Category                  | Amount     | Percentage |
| ------------------------- | ---------- | ---------- |
| **Circulating Supply**    | 12,577,625 | 60%        |
| **Token-Owned Liquidity** | 8,422,375  | 40%        |
| **Team Allocation**       | 0          | 0%         |
| **Investor Allocation**   | 0          | 0%         |
| **Total Supply**          | 21,000,000 | 100%       |

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      60%
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      Circulating
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    <text x="187" y="144" fill="white" fontSize="14" fontWeight="bold">
      40%
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      TOL
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        Circulating Supply (12.6M)
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      <rect x="30" y="280" width="15" height="15" fill="#6b7280" rx="2" />

      <text x="50" y="292" fontSize="12" fill="white">
        Token-Owned Liquidity (8.4M)
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