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Fee

Canvas takes 10% of every passing verification payout. The 10% fee applies during the whitelist period. As the protocol moves toward permissionless operation, the fee will continue compressing. The long-term target is as close to zero as sustainably possible, consistent with how decentralized exchange protocols have approached fee governance.

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Price floor

The minimum bid per verification is $0.05 during the whitelist period. This floor is a demand subsidy: it ensures early group owners earn meaningful revenue while the advertiser marketplace reaches sufficient liquidity. Once the protocol opens to permissionless participation, advertisers set bids freely and the market discovers the clearing price for each group’s audience.

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Unit economics

A mid-size crypto group (5,000 members, 200 new joins/month, 80% pass rate, $0.15 average bid): At 1,000 groups of similar size: approximately $54,900/month in protocol revenue.

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Revenue drivers

Group count: each registered group is a new audience segment available to advertisers. More groups increase advertiser targeting options, which attracts more advertiser spend, which raises average bids. Verification volume: larger groups and higher growth rates produce more verifications. Re-verification multiplies volume by converting existing member count into recurring events rather than a one-time payout. Average bid price: as Canvas builds a track record of quality completions, advertiser willingness to pay per verification increases. Groups with highly specific, valuable audiences attract higher bids through competition.

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The registry

The group registry compounds with every new group that registers. More groups give advertisers better targeting precision. Better targeting precision attracts more advertisers and higher bids. Higher bids increase group owner revenue, which attracts more group owners. Canvas is the only source of Kimi-scored completions with onchain provenance from Telegram audiences. The provenance requires the verification to have run through Canvas at join time. No competitor can replicate it by pulling audience lists after the fact.