Description

$TOBY public allocation is live. (Portal linked in bio) 50M tokens (5% supply). Fully unlocked at TGE. Accepted: USDC / USDT / SOL / genSOL Pro-rata allocation. No gas wars. $TOBY = governance over Solana’s OpenMEV layer. ⸻ Quick backstory (why we built Toby): March 2024: The biggest Solana public mempool shut off overnight. Every team building on it had to scramble. One entity. One switch. Solana’s MEV pipeline broke. We started building Toby that month. Thesis: Solana can’t have a single chokepoint for blockspace. ⸻ Incentives have gotten tougher: • validators dropped from ~2,500 to ~800 • running a validator costs ~$40–50k/yr • break-even needs ~$4.5M delegated stake • the Foundation’s 3-to-1 rule offboarded 600+ in 2025 • staking shows 5.9–6.6% APY, but after inflation you may be closer to 0–3% real Solana is centralizing. ⸻ Why OpenMEV matters: As inflation trends toward a ~1.5% terminal rate, validator revenue has to come from somewhere. That somewhere is OpenMEV. The current tips on the market are ~12% of validator revenue, that's really low and at times fluctuates to the point of being negligible. The current infra captures <20% of available MEV. The rest leaks to: • sandwich attacks • private mempools • inefficient routing • unable to carry out ATOMIC transactions And the stack is concentrated: • 92% of stake on one client Very bad economics. ⸻ What’s good, and what Toby is building: OpenMEV capture up to ~70% of potential MEV (after stripping sandwiches). That’s ~3–4x vs what exists today. Translated to about 30-50% of the validator's revenue at the minimum. Most projects pick one piece to fix. We built the full stack, and $TOBY holders govern it. That's REAL impact. ⸻ The stack: ✦ Block Chef Two-layer system: • Head Chef filters sandwiches + non-approved bundle types before they hit the mempool • Sous Chef runs sealed-bid auctions (highest tip wins) ✦ Reward split: • 85% validators (competitive to market) • 5–10% searchers (above market) • 5% protocol fee & staker rewards • 3-4x capture rate = 3-4x in yield ✦ Laser Stream • Searchers get the same data at 30–50% lower cost ($800–1.2k/mo vs $2–3.5k). • More searchers → more competition → better execution. • Built exclusively for Firedancer. ✦ Validator Optimizer Tracks: • clean OpenMEV capture (no sandwiches) • Toby client adoption • OpenMEV compliance ✦ $genSOL • Alpha stake pool w/ @sanctumso. • Deposit SOL → Optimizer picks validators → Block Chef captures OpenMEV → yield flows back. • Next: $tSOL as the primary stake pool token with deeper Toby infra integration. OpenMEV Council $TOBY holders decide fees, auction rules, validator standards. ⸻ What you get in the public allocation: → 50M $TOBY (5% of 1B), fully unlocked at TGE → pro-rata allocation → deposits convert to $genSOL and accrue staking yield during the allocation window → oversubscribed: excess refunded (yield accrued is yours either way) → optional 12-month lock: +10% bonus tokens + priority allocation Public allocation closes March 28, 2PM UTC. Allocation Portal is linked on our Bio. 🦦