gm fam 🧡 just want to say how much i appreciate this community and every artist building with us being a solo dev, i've been stretched thin answering everyone and handling requests while building out new infrastructure, I hope no one's felt like I purposely ignored them. nobody's complained, but i've felt it, and i just needed to say it. especially to the artists who've been here since the beginning, we will always remember who was here first. don't worry, we've just been heads down building 🙏 so let's talk 🎙️ space this wednesday 11pm PT / thursday 2pm beijing / thursday 7am UK open to everyone, with a special shoutout to our chinese community who've been the most curious 🇨🇳 what we'll cover: • the shielded protocol + your questions • how we're thinking about shielded collections (artists, come through) • distribution • your ideas, we want to hear them to be clear, the ordinals launchpad is open now and you can submit collections anytime. only shielded isn't fully public yet 🌐 looking for a translator: if you're fluent in both english and chinese, we'll pay $100 in btc to translate the convo live. please only reach out if you're truly fluent in both 🙏 set a reminder 👇 xitter.cf/i/spaces/1AKEmvaYOaaKL… see you wednesday 🫡

SHNAKAS is the network coin. Here's how the whole thing fits together. TRAINING WHEELS OFF Since launch the Shielded protocol has run inside a tight sandbox on purpose. A key of ours sits in the loop so that if anyone found a hole we could stop it before it cost a holder anything. That was the safety net while we watched it under real load, real attacks and real money. It held. The next update removes it. No key of ours in the protocol, nothing of ours in the money path. Listing, repricing and cancelling become instant with nothing on chain until it sells. The sale is one transaction the buyer pays for. Anyone can run the indexer and trade Nakas on their own site. After that the full code goes open source. No date yet, it's close. CREDITS GONE Same update kills relay credits. No more buying tickets to do private actions. Your vault's own bitcoin pays the network fee, same as any wallet. Old credits still work if you have them, nobody loses anything. Prepaid relays stay as an option for people who want the extra privacy. The platform never pays for anything, which is what keeps it honest. THE TOKEN 21M SHNAKAS. Issued to Naka holders every block for 78 weeks. Rarer traits earn more, weighted by the live floor. You pay the claim fee from your own wallet, nobody else touches it. People keep asking about listed Nakas, so here it is plain. Every block a Naka sits listed, its share of that block is skipped. Not delayed, not pooled, not handed to the other holders. It is never issued, and it can never be bought back. Same for Nakas that were never minted. 21M is the ceiling, not the supply. With the amount of Nakas sitting listed right now a big chunk of that 21M will simply never exist. The burn started on block one. DATES This Friday: claims open. Claim all your weeks in one go from the vault. The week after: peer to peer SHNAKAS trading goes live inside the vault. Buy, sell and send the token privately, same rails as the Nakas. Burn for GTD ships with it. UTILITY Every Shielded launch reserves a limited number of GTD spots for SHNAKAS. Spots are taken by burning. There's a minimum burn per spot, and when a launch is oversubscribed the biggest burns win. Your vault shows the line live. Burned tokens leave circulation for good, and a burn that doesn't win rolls to the next launch. HOLDERS Holding a Naka doesn't hand you a spot. There are 3,333 Nakas and some launches are smaller than that. What holding does is pay you the token every block, so holders are always first in line with a bag they never had to buy. Don't own a Naka? Buy one off the floor, or buy SHNAKAS off the floor and burn those. VERIFICATION The original mint wallet list is retired. Too many of those wallets sold and moved on. From here on, GTD on this network is earned with SHNAKAS, nothing else. NETWORK COIN SHNAKAS is the only coin on the network. No other token launches here. Everything built from here on, verification, GTD, whatever comes next, runs on SHNAKAS and burns it. Supply only goes down. This is what makes privacy on Bitcoin go round.