The one product
SPICE: a ration of the spice
The spice must flow. SPICE is the one product of The Spice Melange. You buy it in rations of 100 USDC. Each ration earns a stated 17% APR, a fixed rate, counted in sats (bitcoin’s smallest unit, the spice itself) and accrued every day.
Payouts are not guaranteed. 17% APR is the fixed accrual rate, not a promise that anything will be paid, in full or on time. The desk tries its best to credit and pay every day, but a day can be late, reduced or missed, and a missed day is not owed later. Each day’s accrual will be recorded, sealed, and posted on the desk: Daily records (coming soon).
“Spice Certificate” was the old name. It is retired: there is one product now, and it is called SPICE.
SPICE at a glance
- One ration = 100 USDC. That $100 is the ration’s principal, always: whether a ration is minted, bought, sold, listed or held, and whatever price it changes hands at, interest is counted on $100.
- Stated rate: 17% APR, a fixed rate, in sats. It accrues daily at 17%/365 ≈ 0.000465753 of the $100 principal per day. It is a stated rate, not a promise; payouts are not guaranteed and you can lose money.
- Accrues from October 17, 2026. Interest is figured and recorded once a day at 6:00 AM Pacific Time in the master ledger.
- Auto-compound only, for now. Payouts are off until hBTC (bitcoin on Sui, via Hashi) and an hBTC vault exist.
- Who can mint: only holders of the Siaynoq Seal, which comes with the The Dar es Balat Storehouse collection ($300 Siaynoq Seal: every template, now and later). The Seal lets you mint Spice, access Melange, get rebates and enter the Dar-es-Balat Storehouse (a feature of the Junction wallet, where Other-Memory is stored and sealed). The Siaynoq Seal is equity in the trading desk: one share, one vote, SPICE minting and access to Other Memory. SPICE itself is not equity. Minting a new ration costs 100 USDC with no fee. There is no per-license limit on rations. A Siaynoq Seal that carries equity may be a security; it has not been registered, and no outside counsel has reviewed it.
- Who can buy: anyone, on resale through the desk market. The buyer pays a 6% fee on top of the price. Not paying that fee is the benefit of minting.
- Sold or transferred? A ration’s unpaid interest goes back to the treasury. It does not pass to the new holder.
- Redemption: $61.80 flat per ration. You redeem a ration yourself, on-chain, from the wallet that holds it; the contract burns it and pays $61.80 in USDC from the redemption vault in the same transaction. If the vault is short, your redemption joins a first-come, first-served queue and is paid in full, in order. Unpaid interest is forfeited; sats already paid out are kept. Redemptions open at mainnet launch and can be paused for security.
Not yet on-chain. Coming with the desk marketplace launch: SPICE resale is not live yet. It opens only when the desk marketplace goes live on mainnet.
How SPICE works, in four steps
From the first ration to the first sats in your wallet. The full rules are on How it works.
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Step 1: Get a ration
Holders of the Siaynoq Seal (the The Dar es Balat Storehouse collection, $300; the Seal lets you mint Spice, access Melange, get rebates and enter the Dar-es-Balat Storehouse (a feature of the Junction wallet, where Other-Memory is stored and sealed); the Siaynoq Seal is equity, SPICE is not) mint a ration for 100 USDC on Sui with no fee. Anyone can buy one on resale, paying a 6% fee on top (resale comes with the desk marketplace launch). You can hold as many rations as you like. A Siaynoq Seal that carries equity may be a security; it has not been registered, and no outside counsel has reviewed it.
How you enter
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Step 2: Earn daily
Each day at 6:00 AM Pacific Time, every ration still in its holder’s wallet earns interest at the stated 17% APR, counted in sats. It is recorded in the master ledger.
From Oct 17, 2026
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Step 3: Auto-compound
Interest is added to your balance every day, so tomorrow’s interest is figured on a slightly larger amount. Today this is the only mode.
The only mode today
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Step 4: Payouts with hBTC
Once hBTC and the payout feature exist, daily payouts follow hBTC’s live minimum send amount; unpaid interest carries forward while the ration is held. Payouts are not guaranteed. Until then, payouts are off.
Off until hBTC
When payouts open
Payouts are not guaranteed, and they stay off until hBTC and the hBTC vault exist. Until that day your sats stay in the master ledger and keep compounding. After it, payouts are made in hBTC on Sui to the holder’s wallet (amounts may be counted in sats), under these rules:
- The payout minimum is hBTC’s own. There is no separate desk minimum. Once payouts open, daily hBTC payouts follow hBTC’s live minimum send amount, totalled across all of a holder’s rations, and hBTC’s governance can change that minimum. Unpaid interest carries forward while the ration is held; it is forfeited if the ration is sold, transferred or redeemed before it is paid.
- The fee rule. While network fees would be more than 2% of a payout, that payout waits and keeps accruing. If the fee is still above 2% after 90 days, it keeps waiting; the desk never forces a payout through.
- Not guaranteed. These rules say when the desk tries to pay. They are not a promise that any payout will be made.
The Siaynoq Seal: The Dar es Balat Storehouse
The Dar es Balat Storehouse collection ($300 Siaynoq Seal) is the store’s one collection: every agent template we offer now and every one we add later, paid in USDC on Sui. It comes with the Siaynoq Seal, which lets you mint Spice, access Melange, get rebates and enter the Dar-es-Balat Storehouse (a feature of the Junction wallet, where Other-Memory is stored and sealed). The Siaynoq Seal is equity in the Spice Melange trading desk: it carries one equal share, one vote on the council, the right to mint SPICE fee-free, and access to Other Memory. SPICE itself is not equity: a ration carries no share and no vote. Siaynoq Seals are non-transferable. Cashing out a Siaynoq Seal by burning it pays within 30 days of the request, subject to the monthly cap, but it is not live yet, because it needs a contract update. Anyone can buy SPICE on resale, paying a 6% fee on top. In the saga it is the key to the Dar-es-Balat storehouse, the God Emperor’s hidden hoard. A Siaynoq Seal that carries equity may be a security; it has not been registered, and no outside counsel has reviewed it.
Terms: the final SPICE terms 2026.10.17.36 take effect on the day SPICE launches on mainnet. The Siaynoq Seal’s rights are in the License 2026.10.17.32.