Pipo docs

Everything you need to go from holding $PIPO to running real inference on someone else's tab (the pool's tab, funded by fees).

Overview

Pipo is a token whose trading fees and platform fees are pooled and spent, every hour, on OpenRouter inference credits for holders. You never deposit anything. You hold the coin, the pool fills, and your time-weighted share of each hourly pool becomes credits you can claim as a real API key.

On top of the token there is a Playground (race two models on one prompt, see live cost readouts) and a shared inference pool with per-wallet fair-use caps so no single whale drains the tank.

How the fee flow works

Every buy, every sell, and every use of the protocol carries a small fee. Fees land in the treasury and are split three ways:

Fee splitper $1.00 of fees

0%inference pool

0%treasury

0%liq

60% inference pool (converted to OpenRouter credits), 25% treasury (ops, infra), 15% liquidity.

Once an hour a keeper takes the pool's slice, buys OpenRouter credits at market, and posts the results to an on-record ledger. Nothing to claim to accrue: your balance grows automatically. You only claim when you want to pull credits out as a usable key.

The accrual formula

Your share of an hourly pool is based on your time-weighted average balance (TWAB) over that hour, not your balance at a single snapshot. This stops people from buying one second before the snapshot and dumping one second after.

TWAB = ( Σ balance_i × seconds_i ) / 3600 share_usd = ( TWAB_you / Σ TWAB_qualifying ) × hourly_pool_usd

Worked example

Say a wallet holds 150,000 PIPO for 40 minutes of an hourly window, then sells to 0 for the last 20 minutes.

One hourly windowbalance over time

150,000 PIPO held

:00:20:40:60

TWAB = 0 PIPO

seconds at 150,000 = 40 × 60 = 2400 s seconds at 0 = 20 × 60 = 1200 s TWAB = (150,000 × 2400 + 0 × 1200) / 3600 = 360,000,000 / 3600 = 100,000 PIPO

The eligibility floor is 100,000 on the time-weighted average, so this wallet just barely qualifies at exactly 100,000. If they had sold one minute earlier, their TWAB would drop below the floor and they would earn nothing for that hour.

Now suppose the sum of TWAB across all qualifying wallets that hour is 8,000,000 PIPO and the hourly pool is $120:

share_usd = (100,000 / 8,000,000) × $120 = 0.0125 × $120 = $1.50

That $1.50 of OpenRouter credit posts to the wallet's ledger for the hour. Do this 24 times a day and the tab adds up.

Eligibility rules

100k floor on the time-weighted average, not the snapshot. Dip below for part of the hour and your TWAB can still clear the floor, as the example shows.
Contracts are excluded. LP pairs, routers, bridges, and other contract addresses do not accrue, so their balance never dilutes real holders.
Smart accounts are included. Account-abstraction and smart-contract wallets held by real users do qualify. We allowlist the known factories rather than blanket-ban code.
Accrual is per address. Splitting across wallets does not help: each wallet must independently clear the 100k floor.

Claiming an API key

Accrued credit sits in your ledger until you claim it. Claiming mints a real OpenRouter-compatible API key capped at the amount you claim (a spend ceiling). Rules:

One tranche at a time. You claim a chunk of your balance into a key with a hard spend ceiling. Spend it down, then claim the next tranche.
The key works with anything that speaks OpenRouter: Claude Code, Codex, Cursor, or a raw curl.
When the ceiling is hit the key stops. Your remaining ledger balance is untouched and ready for the next tranche.

$ pipo claim --amount 5.00 → issued key sk-or-pipo-a91f... (ceiling $5.00) → remaining ledger balance: $12.40

Playground, pool, and fair-use caps

The Playground runs the same prompt against two models side by side and shows latency, token count, and exact cost per run. It draws from the shared inference pool, the same pool the hourly credits come from, so you can try models without claiming a key first.

To keep the pool from being drained, every wallet gets a per-wallet fair-use cap on Playground and pool usage per window. Hit the cap and you wait for the next window or claim a key and pay from your own tranche. Caps scale gently with your TWAB, so bigger, longer-term holders get a bigger slice without being able to starve everyone else.

Example API request

A claimed key is a drop-in for any OpenRouter-compatible client:

curl https://openrouter.ai/api/v1/chat/completions \ -H "Authorization: Bearer sk-or-pipo-a91f..." \ -H "Content-Type: application/json" \ -d '{ "model": "anthropic/claude-sonnet", "messages": [ { "role": "user", "content": "Explain TWAB in one sentence." } ] }'

Point any tool at https://openrouter.ai/api/v1 with the claimed key and it just works, until the spend ceiling is reached.

Pool balance over a day

The pool refills every hour as fees arrive and drains as credits are bought and used. Over a day it saw-tooths upward on quiet trading and flattens when usage keeps pace with fees:

Pool balance24 hourly sweeps

Each up-tick is an hourly fee sweep. Dips are credit buys settling into holder ledgers.

Edge cases

What if I sell mid-window?

Your TWAB counts the time you held. Sell halfway and you earn on the first half only, provided your time-weighted average still clears the 100k floor. No cliff, just proportional to seconds held.

Do credits expire?

Ledger balance does not expire. A claimed key inherits OpenRouter's own credit lifetime, so claim tranches roughly when you plan to spend them rather than hoarding one giant key.

Do you see my prompts?

No. Claimed keys talk directly to OpenRouter. Pipo mints the key and sets the ceiling, it does not proxy or log your prompts or completions. Playground runs are the one exception, since those execute on our shared pool infrastructure.