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Where RNBW is heading

Who buys the token off the market, who holds the supply and where staking rewards come from. The map is assembled from transfers on Base — every node is clickable and leads to the explorer.

Reading at block 51,260,167, 13 September 2026 · amounts are for the whole life of the contract

bought off the market old reserves the origin cannot be determined the link is not traced on-chain the exit fee — stakers pay stakers past staking arrow thickness is volume

All empty except the treasury. Balances on the cards are what sits on the address right now, and almost everywhere that is zero. The distributor, three intermediate contracts, the buyback wallet, project Safe №3 — all of it is transit: tokens pass straight through and do not linger. Only the treasury holds, 737.30 million. The large figure on a card is the balance, the small one is all-time turnover, and in places they differ by a factor of millions.

The explorer lied about the distributor. Blockscout showed 1,025,000 RNBW on it; a direct call to the contract on three independent nodes returns zero. Balances on the map were read with balanceOf, not from an aggregator.

The Safe is transit, not storage. 7,122,135 RNBW passed through it over all time, and on the account right now there is 655. 99.99% went back out: 4.34 million into the staking contract and 618 thousand into RNBWRewards — payouts to people who froze nothing. Where another 2.6 million of the total went is not shown by the explorer on its first page; it is unverified.

The treasury branch has been still since the end of August. The intermediate contracts last moved on 6, 24 and 27 August, and project Safe №3 has not moved since 6 February — seven months. The market branch, meanwhile, works daily: the router collects fees today, the buyback wallet bought on 10 September. Dates on the cards are the latest RNBW transfers; «dormant» is marked yellow after two weeks of silence.

Why 17.7% is marked yellow. A treasury holding 739 million RNBW both keeps the original supply and buys tokens in the pool itself. Its transfers to the admin Safe can be attributed neither to buybacks nor to reserves — on the account they are indistinguishable.

Second loop: the fee withheld on exit

It is not connected to the treasury at all and works without anyone's involvement. The money here comes from those who leave and goes to those who stayed.

21,4%a year, average over 30 daysthis much in fees actually accrued, against the current size of the pool
37,4%current returnthe contract's rewardRate · above average after large exits
24 355RNBW a dayis distributed across all stakers
60 787RNBW not handed out yetundistributedFees · topped up by every exit

The rate swings thirteenfold. Over the last ten weeks it ranged from 2.5% to 32.8% a year — it all depends on who decided to leave: one large position yields more in fees than a hundred small ones. Averages over other windows: 16,0% over the week and 12,3% over the quarter. The return is in tokens, not in dollars: the pool grows in RNBW, and if the price falls the dollar result will differ.

The drip does not run dry. Over the week 100 addresses left staking and left behind 119,110 RNBW in fees — the inflow is constant. Over the whole history 1,043,669 has been withheld across 1,112 exits. A green dot next to a number means it arrived from the server just now rather than being written into the page.

This branch washes nothing off the market. The tokens are already in the pool — they merely pass from those who left to those who stayed. Circulating supply does not change by a single coin.

Where the treasury itself gets it

The treasury is the only node on the map with a real balance, 737.30 million RNBW. The question of where it is topped up from answers what the cashback is ultimately paid with. Both of its sources are shown on the map above, to its left.

2 767 321came back from Arrakis modules79.1% of inflows · own liquidity out of the pool
733 694bought in the Uniswap pool20.9% of inflows · purchases on 7, 8 and 11 September
0out of the original supplythe untouched reserve was not opened in the sample
3.24 milliontotal buyback by the project2.50 million by the buyback wallet + 0.73 million by the treasury

The treasury buys on its own, separately from the buyback wallet. In our dossier the buyback was recorded only against the address 0x6D73C8c1… with its 2.5 million. Direct treasury purchases with 0x498581fF… add another 733,694 — meaning the project's market buyback is almost a third larger than was thought.

What the 2.77 million returned from Arrakis means is not yet known. These are liquidity management modules, and the treasury takes its own tokens out of them. Whether that is rebalancing or withdrawal cannot be told from incoming transfers alone: it has to be matched against outgoing ones into the same modules. If it is withdrawal, the effect is the opposite of buybacks, because a buyback deepens the market while pulling liquidity dries it out. Until that is checked we draw no conclusion.

All addresses on the map

Balances were read with balanceOf on the token contract on 13 September 2026; three independent nodes returned the same result. Addresses are given in full — they can be copied or opened in the explorer.

NameAddressBalance, RNBWTurnover
Treasury 0xcaa9bFCbc9ff87428535bc4E163296c3A8ae308E 737 300 000 passed 1,260,000 to the Safe
Uniswap v4 PoolManager 0x498581fF718922c3f8e6A244956aF099B2652b2b — sold 733,694 to the treasury · main RNBW/USDC pool
the treasury's Arrakis module 0xec5acA0B35F0d671f1d10f67d1c4Dd5Af8CBe7C1 696 returned 2,765,317 to the treasury · liquidity management
Staking contract 0x288ea8Bcb51d53aD361D786EFa904C401904aF70 23 906 320,36 four baskets on one address: principal 23,771,490.35 · undistributed fees 60,787.32 · cashback reserve 51,334.48 · stakeFor prepayment 22,708.21
RNBWRewards 0x27c31B207eff244e9dB09bb345CDDB6B20a53c1C 7 682,72 received 617,980 from the Safe across 16 transfers · 610,297 paid out on the backend's signature
Staking admin Safe 0xb8fb48333eEAc63e93aECd4D52fd5bB958b41130 655,04 7,122,135 passed
Project Safe №3 0xf21db2387147759947A3767fdd11576Aaa851802 11,00 passed 7,000,000 to the distributor
Rainbow router 0x00000000009726632680fb29d3f7a9734e3010e2 0,0033 fee of 0.85% · $2.18 million a year
Buyback wallet 0x6D73C8c193Ab8A87E7C22e8b5ae23d5E851b94Bb 0 passed 2,503,654 to the Safe
Distributor 0xF34A528830C02bef7249b05Fdb8a2220521e7dB1 0 received 10,500,000
Second source 0x6B3D5a34AfcAC29D9deF9Cd24C104894C0c3b5C1 0 passed 3,500,000 to the distributor
Intermediate №1 0xAC94222019E1CB612843Ce71BBaC6aC26e34e06e 0 passed 1,896,551 to the Safe
Intermediate №2 0x8f3D5A17647e01Fda9e30De451c1044819690665 0 passed 850,000 to the Safe
Intermediate №3 0x7dbd7d9Fe49295A20fdF7AE1391d3cDd1a781c71 0 passed 240,000 to the Safe

The distributor has zero against a turnover of 10.5 million. It passed only 1,225,000 to the three intermediate ones — where the other nine million went we have not checked, those transfers are beyond the explorer's first page.

The router holds 0.0033 RNBW — not a balance but incidental dust: it collects its fee in the token of the trade, not in RNBW.