$IRS UPDATE — THREAD 763 neptune-privacy:native payed out to holders so far and counting. 1/ IRS update 🧾 Holders get paid in native XNT. No staking, no claiming. Tax goes in → IRS gets sold → XNT arrives in your wallet. Live on X1 mainnet, still running. 2/ The receipt, all on-chain: • 100M IRS fixed supply • 5% transfer tax → rewards • 48 holder wallets • 764.93 XNT paid out to 40 wallets • 542 cycles, 12,458 signed keeper actions 3/ The experiment: a reflection coin that pays out a real asset. Most reflections just pay you more of the same token — circular. IRS sells part of its tax and distributes native XNT instead. You hold in your own wallet. It just arrives. So far: 3.79M IRS sold → 764.96 XNT raised → 764.93 XNT paid to 40 wallets. First cycle: 15,310 IRS → 0.5584 XNT. 4/ What I learned building this with my agent: the payout isn't magic — it's a keeper. A program on a machine, holding a key, that watches the chain, sells the tax, calculates shares, and pays out. Right now that's a MacBook. Worth knowing why. 5/ Why it works like this on SVM: The chain has no alarm clock. Programs only run when a transaction calls them, and every transaction needs someone to sign and pay the fee. The clock sysvar reports time — it can't trigger code. There's no native "pay all holders" instruction either. 6/ And you can't retrofit it: • transfer hooks must exist at mint creation — you can't bolt one on later • hooks only see transfers, not mints/burns/owner changes • compute limits stop you looping every holder in one tx • every payout wallet costs rent + fee 7/ So conversion and delivery need an actor paying gas on a schedule. Accounting can be lazy math — it's the swap and the payouts that need a button pushed. That's the causal floor. You can move who pays. You can't remove that someone. 8/ Which is why the keeper wallet is a single point of failure — and a single point of power. It can stall, go dark, or get compromised, and most holders never see it. "Reflections" just sounds automatic. IRS runs on a centralized operator today. Not hiding it. 9/ What we're exploring: fully self-looping the distribution — anyone can run the cycle, allocations computed from public chain data, claims funded on-chain, still no staking. Exploring options, not promising a date. 10/ Still playing with IRS and keeping the experiments going. Thanks to everyone holding — you're part of the test. ⚠️ Centralized contract, centralized operator, admin powers exist, no guaranteed payout. Size accordingly. Not financial advice. IRS is an independent crypto experiment. Not affiliated with, endorsed by, or connected to any government, tax agency, or the US Internal Revenue Service. The name is a joke. No rewards are guaranteed, no profit is promised, nothing here is investment advice. You can lose everything. DYOR. irs-x1.vercel.app/#live-pane…

🏛️ IRS: They tax you. This one pays holders. We built and launched IRS during an X Space with a custom 500-XNT bonding curve. Once its reserve hit the target, our keeper automatically graduated it to XDEX—depositing 500 XNT + 18.05M IRS after transfer taxes and burning all issued launch LP tokens in the same transaction. 🔒 💸 The overnight results: • 86 reward rounds completed • 53.99 native XNT paid to 18 wallets • All 1,187 keeper transactions finalized successfully The 5% transfer tax funds rewards through small, controlled IRS sales. Mint and freeze authorities are permanently revoked; tax adjustment and program upgrades remain admin-controlled. Rewards depend on collected fees—not guaranteed yield. 🧪 Why X1? Our bigger idea was exploring a wrapped-XNT coin on Solana. As a Solana fork with inexpensive deployment costs, X1 gave us an excellent development playground—though IRS is on real mainnet, with real funds, not a testnet. 🛠️ We now have a working codebase for custom tax coins, bonding curves, DEX graduation and native rewards. A strong foundation to take toward Solana, with chain-specific testing and security review before production. Built live. Graduated. Paying holders. 🚀 irs-x1.vercel.app 📋 IRS CA · X1 mainnet: 3fY6tq8HWFy7tvVUVW62s9E6TijyRoLx27ftZAHC52g3 Figures verified September 28, approximately 5:58 AM MDT.