Crypto capital formation currently exists at two extremes. On one end, meme-coin launchpads maximize attention, reflexivity, and upside asymmetry, but sacrifice longevity, discipline, and repeatability. On the other, principled funding platforms enable transparent and repeatable fundraising, but suppress speculation, remove asymmetry, and fail to generate organic discovery or excitement.
This paper introduces Cycle-Based Rights Issuance — a token issuance framework that preserves the asymmetric, event-driven dynamics of meme markets while enabling repeatable, disciplined capital formation over time.
The system replaces continuous inflation and one-time launches with discrete minting cycles, bounded bonding curves, and rights-based anti-dilution, allowing projects to raise capital multiple times without structurally suppressing price.
Mammoth supports both fixed-supply and cycle-bounded elastic-supply issuance, with an optional, irreversible transition from elastic issuance to a final hard cap. This enables early-stage experimentation while preserving the ability to make credible long-term scarcity commitments.
Mammoth is designed first for Solana, where low fees and an active speculative culture enable granular participation and rapid experimentation.
