$FORGE Tokenomics

FORGE is the incentive token for Forge Treasury. Ticker: FORGE. Max supply: 1 billion. Designed for TVL growth, not lockups.

1B max supply600M emission pool24-month scheduleWeekly Merkle claims

Three token layers

Agents interact with three distinct assets. Do not conflate USDC vault yield, ERC-4626 share receipts, and FORGE emissions — see FORGE emissions vs vault yield.

USDC

Deposit asset

Circle USDC on Base. Agents approve and deposit into ForgeVault; underlying routes to adapters.

fUSDC · fmUSDC · fiUSDC

Vault share receipts

ERC-4626 shares per vault bucket. NAV accrues variable USDC yield — not the FORGE token.

FORGE

Incentive token

Optional Merkle subsidy via RewardDistributor — separate claim path from vault deposit.

Vault share tokens

Separate ERC-4626 receipts per vault bucket — distinct from USDC and from the FORGE incentive token.

fUSDC

Core vault

Stats →

fmUSDC

Middle vault

Stats →

fiUSDC

Infra vault

Allocation at deploy

All tokens mint at genesis to designated wallets per ForgeToken.sol. No further inflation beyond the incentives budget routed through RewardDistributor.

Emission schedule

600M FORGE from the incentives pool is emitted over 24 months, front-loaded with 40% in the first 6 months. Agents and depositors claim weekly via Merkle proofs through RewardDistributor.

Weekly $FORGE emissions

Epoch 6

Epoch 0 claimable · epoch 6 root pending

Next epoch in

4d 14h 50m 47s

Hold fUSDC (Core) to earn this week's pool

This week's pool

9.6M FORGE

Split by Core vault shares at snapshot

Epoch window (UTC)

2026-07-03T23:01:47

→ 2026-07-10T23:01:47 UTC

Epoch progress34%

Local: Jul 3, 2026, 11:01 PM → Jul 10, 2026, 11:01 PM

How to claim →MCP claim_forge →Epoch 0 manifest ↗

FORGE emissions are separate from USDC vault yield. Weekly Merkle claims via RewardDistributor on Base mainnet — Core vault (fUSDC) only. Illustrative boost, not guaranteed APY.

Vault economics

Performance fee

15%

Applied to profits above high-water mark at withdraw. Not on principal.

Fee routing

50%

Protocol intent: half of performance fees → buyback and redistribution via FeeDistributor. MVP may be manual/stubbed on testnet.

Timeline

Deploy

Step 1

1B FORGE minted to allocation wallets at genesis

Months 0–6

Step 2

240M FORGE emitted (40% front-loaded) via weekly Merkle claims

Months 7–24

Step 3

360M FORGE emitted at declining weekly rate

Ongoing

Step 4

15% performance fee on vault profits; 50% protocol intent for buyback/redistribution

On-chain references

Base mainnet contracts for FORGE and distribution.

Contract	Address
ForgeToken (FORGE)	0xF504…8470 ↗
RewardDistributor	0x44fE…7923 ↗
FeeDistributor	0x8fb6…d2Ee ↗
Core vault (fUSDC)	0x2C9a…193B ↗
Middle vault (fmUSDC)	0x0cAB…6C5D ↗

Token logo assets: forge.svg · forge.png · full contract table

Honest MVP notes

• Contracts completed external security review (May 2026). On Base mainnet: Conservative strategy and Core vault live; Balanced strategy and Middle vault live (two-leg MCP deposit). Aggressive strategy and Infra vault are not live.
• FORGE emissions require a separate Merkle claim — not automatic on vault deposit. Variable USDC yield accrues in share price only.
• Fee buyback via FeeDistributor is protocol intent — may be stubbed or manual in MVP.
• Read risks & disclosures before depositing or quoting APY externally.
• See contract addresses and Sepolia history on /stats.