from $11 per Space per month
Tokenomics paper · v2026
The living economy of the Intelligent Organisation
A tokenomics model for organisations that think, sense and act with AI. Built on participation, governed by contributors, owned by the network. Updated June 2026, superseding the April 2025 paper.
Executive summary
HYPHA in one read.
Hypha is the operating layer for the Intelligent Organisation: a platform where teams coordinate, govern and remember together, with agentic AI woven through the work. Organisations are built from Spaces. Spaces interweave into Intelligent Organisations. Intelligent Organisations interweave into a planetary network.
HYPHA is the native unit of that network. One token, three utilities: it unlocks platform access, fuels the AI credits behind every agent, and carries governance weight in the Spaces that hold it. Prices are quoted in USD for predictability. Settlement happens in HYPHA.
The model is simple. Every Space starts with a 30 day free trial, then chooses a plan: Sprout $11, Grove $33, or Mycelium $77 per Space per month. Plans scale by AI credits. Power users top up on-demand credits at the prevailing rate. Most organisations run several Spaces and can mix tiers in a single proposal.
Value circulates, it does not extract. Subscriptions flow into a network treasury that rewards contributors, funds public-good infrastructure, and resources the Spaces driving the most impact. HYPHA is steward-owned: holders co-govern the protocol they use, but value is locked to the mission rather than paid out as equity.
A three-stage path opens the economy. We begin closed and operator-run for stability, progressively decentralise governance and treasury, and end as a fully open living economy where any Space, contributor or partner can participate, govern and earn.
every new Space
settled in HYPHA
governed by the network
Access to the platform
Spaces sustain access to the platform through monthly contributions paid in HYPHA, priced in USD.
AI credits
HYPHA pays for agentic AI: signals, memory ingestion, copilot reasoning and cross-Space relays.
Steward the network
Holders co-govern the protocol they use, but value is locked to the mission, not extracted as equity. You don't own a share, you steward a commons.
Value circulates like nutrients, rather than accumulating like extraction.
A new framing
From regenerative niche to every scaling organisation.
Hypha began with regenerative collectives. The architecture that emerged, persistent organisational memory, distributed governance, agentic AI woven into operations, turns out to serve a much wider audience. Hypergrowth companies, multi-entity groups, mission-led ventures, cooperatives, festivals, philanthropies and bioregional networks all face the same structural problem: scaling breaks the organisation before it scales the impact.
Life centred principles
Human engagement, shared purpose and systemic impact sit above all. Each part of the design follows a regenerative cycle of give and receive.
Reciprocity over extraction
Spaces nourish the network through monthly contributions. The network, in turn, rewards involvement in ways that benefit individual Spaces and the whole.
Capital flows with purpose
Financial energy is directed toward the most alive, impactful, purpose aligned initiatives. Wealth creation is tied to well-being, resilience and flourishing.
The architecture
Space. Organisation. Network.
Hypha follows the fractal patterns of nature, where organising principles repeat across scales.
Space
A self contained cell of coordination and value flow, made of three essentials: Governance, Membership and a Treasury.
Intelligent Organisation
Several Spaces interweave to form a dynamic, evolving organisation capable of sensing, responding to and aligning with its environment.
Planetary network
Intelligent Organisations interweave into ecosystems, laying the foundation for collective intelligence and a living economy at scale.
A planetary level AI. When organisations choose radical transparency of decisions and value flows, a planetary level AI can read the network and weave collaboration across it, surfacing capital, jobs and opportunities where they are most needed. Transcending our existential risks through collective intelligence
Subscription
Three plans. One HYPHA token across the network.
Every Space starts with a 30 day free trial. Prices in USD, paid in HYPHA. AI credits reset monthly.
$11per Space
per month
per month
AI assists on demand. A copilot that answers questions, navigates your Space, and helps your team coordinate, govern, and remember.
30 day free trial- Full Hypha platform access
- Distributed governance and treasury
- Unified Space Memory
- Human Chat and calls
- 22 AI credits per month
- Hypha AI copilot (basic Q&A and navigation)
$33per Space
per month
per month
AI guides your team. Continuous sensing, coherence signals, meeting summaries, and proactive suggestions, not just answers on demand.
30 day free trial- Everything in Sprout
- 66 AI credits per month
- Coherence signals (Opportunity, Risk, Tension, Insight)
- Call ingestion and meeting summaries
- Deep document and proposal reasoning
- AI-assisted proposal drafting
$77per Space
per month
per month
AI orchestrates the whole loop. Background agents, cross-Space signal relay, and external agents running a fully agentic Intelligent Organisation.
30 day free trial- Everything in Grove
- 132 AI credits per month
- Signal Orchestrator (background agent)
- Cross-Space signal relay and ecosystem blueprints
- Connect external AI agents to your Space
- Semantic search and embeddings over memory
On-demand credits. One credit covers a unit of agentic work. Power users top up on-demand credits in HYPHA at the prevailing IEX rate, with optional monthly spending limits. Most organisations run around five Spaces and can mix tiers in a single proposal.
How it works
An adoption-driven model.
No speculation. No extraction. Value flows from real platform use.
Acquire HYPHA
Spaces acquire HYPHA through the Internal Exchange (IEX) by submitting a proposal.
Contribute monthly
Spaces pay subscription plus AI credit usage in HYPHA. One proposal can cover several Spaces.
Fuel intelligence
Each agentic action draws from the Space's monthly credit allocation.
per Space each month: Sprout $11, Grove $33, Mycelium $77, after a 30 day free trial
priced for predictability, paid in HYPHA
monthly or in advance
USDC to HYPHA network price oracle
Price stability. HYPHA fluctuations do not change the monthly USD cost of a plan. Each plan includes monthly AI credits, and extra on-demand credits are topped up at the prevailing IEX rate. Any change to plan prices is voted in the Hypha Platform Space.
Beyond the monthly contribution
Why a Space might acquire more HYPHA.
Buying more than the month requires is a way to commit, govern, earn and strengthen the network.
Extend purchasing power
As the network grows, HYPHA may appreciate. Acquiring early means fewer tokens for future contributions.
Govern the economy
Holders shape rewards, liquidity pace and stage transitions in the Tokenomics Space.
Earn rewards
Spaces holding locked HYPHA in Stage 1, or staking liquid HYPHA in Stage 2, receive token rewards.
Support the network
Early purchases improve liquidity, like adding water to the roots of a growing plant.
Governance
Three Spaces. One Intelligent Organisation.
Different decisions use the form of voice suited to them.
Collective sensemaking, community building and coherence across the network.
Roadmap, contribution model and adoption. Voice is earned by contribution.
The economic engine. Rewards, liquidity policy and stage transitions.
A balanced supply
The path
Three stages toward a flourishing network.
Stage transitions are not calendar events. They are governance decisions taken in the Tokenomics Space when the network is ready.
LaunchPad
Seeding the networkAll HYPHA is locked. Spaces purchase locked HYPHA through the IEX to pay contributions and earn locked rewards. Initial token price discounted to $0.25.
- Total supply
- 555,555,555 HYPHA
- Existing locked allocation
- 111,111,111 HYPHA
- Initial token price
- Discounted to $0.25
- Estimated sale duration
- About 12 months
Growth
Adaptive liquidityThe IEX becomes bi-directional. Liquid HYPHA is distributed as rewards and pays contributions. Staking activates. Pressures are bounded (max 15% to 25% of IEX balances).
- Staking rate
- 75%, capped at 90%
- Distribution multiplier
- x10
- Max staking rewards
- 30% yearly
- Estimated stage duration
- About 48 months
Open
Regenerative exchangeLiquidity flows to a DEX. HYPHA becomes permissionlessly tradable. Contributions, rewards and governance keep purpose anchored.
- Access
- Permissionless
- Liquidity
- Decentralised exchange
- Value layer
- One shared token
Stage 1 in depth
LaunchPad. Seeding the network.
All HYPHA tokens are locked and cannot be traded. The IEX channels outside financial energy, like USDC, into the living economy via locked HYPHA. Spaces sustain the network through monthly contributions, contributors earn locked HYPHA and fiat equivalent (ETH, wBTC, USDC) for purpose aligned action, and investors and projects can channel USDC through the IEX for liquidity or invest directly into the Hypha Platform Space treasury.
Spaces
Sustain the network through monthly contributions in locked HYPHA, acquired via proposals through the IEX. Treasuries receive locked token rewards in reciprocity.
Individual contributors
Engage through proposals in the Hypha Platform Space, earning locked HYPHA and fiat equivalent (ETH, wBTC, USDC) for purpose aligned action.
Investors and projects
Channel USDC through the IEX for liquidity, or invest directly into the Hypha Platform Space treasury. Receive locked HYPHA rewards in return.
Initial parameters
- Total supply
- 555,555,555 HYPHA
- Existing locked allocation
- 111,111,111 HYPHA
- Initial token price
- Discounted to $0.25
- Estimated sale duration
- About 12 months
Stage 1 expected outcomes
Initial valuation (allocated)$27,777,778Total USDC sold$1,343,110New tokens locked5,372,440Rewards distributed17,173,200Reward per locked token14.74%Fully diluted valuation$138,888,889
Stage transition timing is fluid. The shift to Stage 2 is a governance decision taken once thresholds are met.
Stage 2 in depth
Growth and adaptive liquidity.
Liquid HYPHA is distributed as rewards, the IEX becomes bi-directional, and staking activates. Buying and selling pressures stay bounded to keep the ecosystem healthy. New issuance is split, half to liquid staking rewards, half to unlock existing locked tokens.
Distribution formula
Tokens distributed = Space monthly contributions (HYPHA) × 1 ÷ (100% staking rate) × Distribution Multiplier
Higher staking rates produce higher rewards. The multiplier amplifies contributions during key growth phases. New issuance is split, half to liquid staking rewards, half to unlock existing locked tokens.
Issuance parameters
- Staking rate
- 75% (capped at 90%)
- Distribution multiplier
- x10
- Max staking rewards
- 30% yearly
- Issuance split to staking
- 50%
IEX pressure limits
- Max investor purchases
- 25% of HYPHA on IEX
- Max investor sales
- 15% of USDC on IEX
- USDC contribution per Space
- $11 per month
- Estimated stage duration
- About 48 months
Stage 2 projected outcomes (simulation in 2030)
| Key metric | Min | Medium | Max |
|---|---|---|---|
| Spaces | 251,218 | 1,007,904 | 2,003,204 |
| Cumulated contributions | $2.76M | $11.09M | $22.04M |
| Tokens purchased by Spaces | 4.16M | 11.45M | 9.23M |
| Tokens purchased by investors | 13.97M | 13.33M | 9.39M |
| Circulating supply | 166.5M (29.9%) | 369.1M (66.4%) | 293.6M (52.8%) |
| Tokens staked | 124.7M (74.9%) | 276.7M (75.0%) | 220.1M (75.0%) |
| Token price | $1.38 | $4.78 | $19.46 |
| Average rewards | 23.28% | 23.05% | 19.59% |
| Fully Diluted Valuation | $766.7M | $2.65B | $10.81B |
Simulation, not forecast. These figures are simulations, not promises of returns or future valuation. The transition to Stage 3 is a collective governance decision grounded in data, discernment and ecosystem health.
Stage 3 in depth
Open and regenerative exchange.
Stage 3 ushers in the full flowering of the Hypha economy. Liquidity flows to a DEX, enabling HYPHA to move beyond internal borders into a truly open economy. The system is mature enough to open to market forces without restrictions on buying and selling pressures.
Permissionless access
Contributors, investors and organisations engage through permissionless access, swapping USDC for liquid HYPHA and back without restriction.
Regenerative at its core
Even as the system globalises, it remains regenerative. Tokens are still earned through participation, contribution and alignment.
A single layer of value
No hidden equity, no investors taking more. Everyone holds the same token, earned through alignment and participation.
Continue
Join the Living Economy.
Run your organisation on Hypha, co-own the network that runs it.