Know the rules.
Know who can change them.

01 / What IRS is

IRS is an experimental parody token on X1 mainnet, using Token-2022. It is not a government service, a savings account, or a promise of income. IRS is the token; XNT is X1’s native currency, used for network fees and rewards.

The system collects token-transfer fees, converts IRS into XNT, accounts for holder rewards, and reserves part of the proceeds for buying IRS. REFUND VAULT and the custom burn pool are separate, optional applications with their own mechanics.

This page describes the implementation and operating policies reviewed on October 21, 2026. It is a dated explanation, not a live status report. Check the dashboard’s timestamps, current token configuration, and finalized receipts before acting.

02 / Clout can change this project

These are different kinds of control—not one universal switch:

Keeping authority helps repair bugs, but creates trust and key-compromise risk. A compromised authority can be more dangerous than an ordinary-user exploit. A current accounting check is not protection against a future upgrade. There is no promise here of an enforced notice period, timelock or community vote before changes.

Future Solana deployments or immutability are research plans, not features of this X1 system. Revoking upgrade authority would not by itself remove every separate admin power.

03 / The 5% token transfer tax

The configured baseline is 5% on IRS transfers. This is a token-level fee, separate from vault and pool fees. Token-2022 fees have rounding, a maximum-fee cap and potentially scheduled epoch changes; the transaction preview and live configuration determine the exact charge.

For an ordinary uncapped transfer of 1,000 IRS at 5%, the recipient gets 950 spendable IRS and 50 IRS is withheld. Withheld amounts are not spendable holder balances. The tax authority harvests them into the collector for conversion.

Standard Token-2022 transfer fees do not provide a per-wallet or per-protocol exemption list. Depositing into a vault, adding liquidity or withdrawing liquidity can trigger the token tax. Internal bookkeeping does not cause a token transfer, but moving tokens between accounts does.

The tax is collected in IRS, not XNT. There are no XNT proceeds until a sale succeeds. Direct gifts to the tax collector also become inventory for conversion; they are not a deposit in REFUND VAULT and do not create a personal claim.

04 / Tax sales and holder payouts

The off-chain keeper checks for tax-sale opportunities roughly every five minutes. It can sell already-collected IRS without an unnecessary new harvest. When harvesting is needed, it checks the combined cost before spending fees.

Current policy limits include a sale no larger than 100,000 IRS or 0.1% of the relevant pool reserve, whichever constrains the trade, a 0.5% slippage allowance, price-history checks, and quoted conversion network costs at most 1% of minimum expected XNT output. These are operator policies, not immutable guarantees. Caps or unavailable quotes can delay sales even with a large inventory.

Where sale proceeds go

• 50%: proportional credits for eligible IRS holders.
• 50%: reserved for the main IRS buyback schedule.

Eligible token balances are aggregated by owner for each admitted conversion’s snapshot. Excluded infrastructure accounts and pool addresses do not earn just because they contain tokens. Ordinary operator holdings remain eligible. REFUND VAULT is eligible as a holder; its depositors receive their share through the vault, not by double-counting their deposited IRS in their personal wallet.

Rewards are snapshot-based, not continuously accrued interest on unsold tax inventory. Buying tokens later does not grant earlier credits. Moving tokens changes future eligibility, not a previously recorded credit. Integer rounding is carried through accounting.

Credits accumulate for approximately daily delivery. The last completed round affects the next eligible time; it is not a guaranteed payment at a fixed clock time. The keeper funds reward rounds and sends payments with on-chain proofs/receipts to prevent duplicate claims. Before funding, credits are tracked in the operator’s ledger, so ledger integrity and custody matter. Funded but unpaid rewards are shown separately from accrued credits.

RPC failures, an offline host, insufficient operational funds or uncertain transactions can delay delivery. Signed actions are journaled and reconciled; an unknown result is not permission to send a duplicate payment or sale. No trading volume means no guaranteed new tax-funded income.

05 / Main IRS buybacks

Each new buyback allocation gets its own 14-day spending target. The amount due is its linearly released budget minus amounts already spent. New inflows do not restart older deadlines. Opportunities are roughly two hours apart.

Current checks include a 10-XNT maximum purchase, a 0.5%-of-pool input cap, a 0.5% price-impact cap, 0.5% slippage and a 1% network-cost gate. The usual minimum is 0.25 XNT; final smaller tails still need to pass cost checks. Market limits, dust, downtime or a buyback-only pause can extend completion beyond 14 days. A timed pause can expire automatically.

These purchases accumulate IRS in operator/keeper holdings. They are not burns, not REFUND VAULT locks, and not increases in each holder’s personal IRS balance. These holdings can receive future holder payouts and can dilute other holders’ percentage of subsequent snapshots.

The reserve is a tracked allocation inside operator custody, not necessarily a separate wallet. Accounting separates holder credits, buyback obligations and operational funds, but that separation is not an immutable guarantee against authority misuse. Pausing main buybacks does not inherently pause tax sales, payouts, the arb bot or REFUND VAULT’s public trigger.

06 / REFUND VAULT: deposits, shares and exits

REFUND VAULT pools IRS and receives eligible XNT holder payouts. Deposit transfers IRS into its inventory and issues accounting shares representing depositor principal. Shares are not a promise of a fixed IRS balance: fee redistribution and rounding affect the principal backing them.

Entry and exit fees

The vault fee is 3%: 1.5% redistributes to eligible shares and 1.5% adds to the locked reserve. If no shares qualify for redistribution, the entire fee goes to the locked reserve. On entry the fee is assessed on IRS actually received after token tax.

Withdrawal redeems shares for IRS, not XNT. The vault exit fee applies before the outbound token tax. As a simplified example, redeeming 1,000 IRS of principal gives 970 before transfer tax and 921.5 net at 5%, excluding rounding and any self-redistribution. With the same fee assumptions, an isolated 1,000-IRS deposit followed by one full exit returns about 849.162250 IRS before gas and without intervening earnings.

Partial-exit nuance: shares left behind may receive part of that wallet’s own exit fee. Splitting exits can reduce the effective fee compared with one full exit. This is current behavior—not a guaranteed profit opportunity—and the nominal 3% does not describe every wallet’s net economic loss.

Withdrawals require enough backing and positive net output. Tiny positions can become nonredeemable dust through integer rounding. The website checks known dust cases, but direct contract callers can still create them. Deposit pausing does not currently disable withdrawals or claims. Existing token taxes and future upgrades remain independent risks.

07 / Vault XNT rewards and the locked reserve

No deposit is required to earn ordinary IRS holder rewards. Eligible IRS in your own wallet receives scheduled keeper XNT payouts. REFUND VAULT is an optional pooled alternative: other users’ 3% vault entry/exit fees can grow eligible depositor principal and the shared locked reserve, split equally when eligible shares exist. The separate 5% token transfer tax funds the main IRS system, not direct IRS credits to vault positions.

The vault receives holder payouts on its combined eligible holdings. Depositors share that XNT, including the contribution from locked IRS, but cannot redeem the shared reserve as personal principal. Deposited coins are not also counted for a second direct wallet payout. Activity-based growth is not guaranteed to exceed the costs of joining and leaving.

The vault’s entire eligible IRS inventory, including locked IRS, contributes to holder payout eligibility. Locked IRS has no depositor shares. Its eligible reward contribution therefore benefits active shares rather than receiving a separate claim of its own.

Incoming XNT is allocated during reward synchronization. Claims, deposits and withdrawals synchronize rewards before their balance changes. Already credited rewards remain attached to their entitled position; newcomers do not receive already credited rewards, and withdrawing principal does not erase an existing claim. Eligibility is tied to when the vault receives/accounts for XNT, not a perfect reconstruction of every depositor’s presence during the keeper’s earlier snapshot.

When there are no shares, incoming rewards follow the no-staker accounting path into the buy budget rather than becoming a new depositor’s retroactive reward. Pending receipts and recorded rewards are different states of the same funds; the UI includes pending receipts in previews without counting them twice after sync.

Claim fee

Claiming 100 XNT gross pays 95 XNT to the user and retains 5 XNT for the vault’s IRS buy-and-lock budget. This 5% is a buy-and-lock allocation, not a developer payout under the current vault rules. Claims require a transaction and gas; receiving XNT in the vault is not an automatic payment to a depositor’s wallet.

What “locked” means

The reserve grows through entry/exit fees, direct IRS gifts and net IRS bought with claim fees. A direct gift creates no depositor shares and avoids the vault entry fee, but still faces the token transfer tax. Gifts can appear as pending reserve reconciliation until a supported accounting action absorbs them.

Current code excludes locked IRS from ordinary depositor redemption. It is not burned and is not irrevocably locked while upgrade authority remains. Do not send unrelated tokens or wrapped XNT to vault accounts: there is no general recovery function. Use supported actions and verified addresses.

08 / Anyone can trigger the vault buy-and-lock

Connect on X1 and select Trigger buy-and-lock, review it, then approve in your wallet. A successful call spends the full accumulated claim-fee buy budget through the fixed swap route. Net IRS received after transfer tax goes to the locked reserve. The caller pays network fees and receives no bounty or share of the purchase.

The current instruction checks fixed accounts/destination and is intended to preserve principal and owed XNT; it does not make those funds available to the caller. It is distinct from the protected main-keeper buyback strategy. Pausing deposits does not stop this public trigger.

The first verified live public buy spent 1.450982315 XNT and received 3,826.936492 IRS net on October 20, 2026. Read the finalized receipt. This is historical evidence of one successful execution, not proof every future trade will be safe or economical.

09 / Custom IRS/XNT burn pool

The separate custom constant-product pool charges a 1.5% IRS-side trading fee on buys and sells: 0.75% remains in reserves for liquidity providers and 0.75% is burned. For sells the calculation uses IRS actually received after its transfer tax; for buys it applies to the gross IRS side of the swap before the recipient’s outbound token tax.

LP fees increase the assets backing shares instead of producing a separate guaranteed cash payout. Burns are token-program supply reductions, not transfers to a dead address, locked reserve additions or ordinary buybacks. IRS’s existing token tax is additional, so there is no universal simple “6.5% total” for every route.

Adding/removing liquidity has no extra custom trading fee, but token transfers still face IRS tax. Shares credit net deposits. A tiny permanent virtual share floor prevents a zero-share pool; the project retains circulating LP tokens. LP backing changes with swaps, fees, price changes and withdrawals. Impermanent loss, arbitrage extraction and price impact can outweigh fee income.

This custom program is separate from the existing XDEX market and is not automatically included in XDEX routing. The website’s position panel is not proof that a public liquidity-entry flow or third-party routing integration exists.

10 / The separate arbitrage pilot

The arb service compares the custom pool with XDEX and seeks executable round-trip profit after token taxes, pool fees and network costs. It is not a price peg, guaranteed market maker or promise to balance pools at all times.

The pilot uses a separately funded wallet, checks roughly every minute, and currently limits input to 0.5 XNT per trade with a 0.05-XNT daily transaction-fee budget and no automatic top-ups. Both swaps are assembled atomically with a final minimum-return check. A reverting trade can still cost network fees. Uncertain outcomes require reconciliation instead of a blind replacement.

A lack of trades can mean no profitable opportunity or an operational fault; inspect status rather than assuming one. Profit in the arb wallet is not necessarily profit for the project’s combined LP and trading holdings. An arb trade can extract value from our own pool while generating fees and burns.

11 / Reading the dashboard correctly

Total XNT paid

Confirmed holder payments—not unsold IRS or promised future rewards.

Next payout credits

Recorded holder liabilities; distinguish not-yet-funded credits from funded, unpaid rounds.

Main buyback reserve

Reserved XNT not yet spent. It is not free operating capital.

Vault principal

IRS backing depositor shares, which already includes redistributed IRS fees.

IRS earned from vault fees

Lifetime reconstructed fee earnings, potentially including amounts already withdrawn. Do not add them again to principal.

Vault XNT received

Historical receipts including detected pending sync, not necessarily current free cash or your personal claim.

Claimable / paid XNT

Gross entitlement and net wallet receipts differ by the claim fee. Check labels before adding totals.

Locked IRS / bought-and-locked / burned

Different quantities. Bought-and-locked IRS is part of the reserve, not an extra balance to add. Burns reduce supply.

Wallet and depositor counts

Addresses/accounts, not verified distinct people. Active and lifetime accounts differ.

History-based earnings require RPC records and complete event reconstruction. Missing/truncated data can make them unavailable or stale; that does not prove a zero balance. Incremental caching improves refreshes but is not a permanent independent indexer. Confirm timestamp and receipt status. Future USD values and APYs are not guaranteed.

12 / Security, limits and user checklist

Internal reviews have compared source builds with deployed code and exercised withdrawals, claims, account substitutions, repeated actions and randomized accounting locally. These are useful checks, not an independent audit or proof that no exploit exists. Third-party pool code, keys, hosts, dependencies, frontend updates and RPC services remain part of the risk surface.

History parsing and pagination defects received frontend repairs. Dust prevention is still a UI mitigation; tiny direct deposits can remain problematic. Partial-exit self-redistribution remains current behavior. Accidental wrapped-XNT transfers lack a general recovery path. Unrestricted-price public buys remain intentionally exposed to poor execution. Authority powers were not revoked as part of those repairs.

• Verify X1 mainnet and the exact token/program addresses below.
• Read the full fee stack and the review displayed before signing.
• Keep XNT for gas; use an amount you can afford to lose and test the exit/claim flow.
• Check finalized receipts rather than repeatedly submitting when status is uncertain.
• Never share a seed phrase or private key. This documentation does not require a wallet connection.
• Re-read current settings after updates. A previous successful withdrawal does not guarantee future behavior.

Liquidity and token prices can fall, distributions can slow or stop, and all funds put into experimental contracts may be lost. Rewards originate from activity and allocations, not an external guarantee of yield.

13 / Verify addresses and changes

Live IRS dashboard · REFUND VAULT · Custom LP and burn receipts · Clout World development updates

Documentation change record

October 21, 2026: full operating guide published, covering retained authorities, current 50/50 allocations, two-hour/14-day main buybacks, vault fees, unrestricted public buy-and-lock, custom LP, arb pilot and internal-review limitations. Historic README sections and old screenshots may describe superseded settings. This page is not an automated authority monitor; verify live accounts when making a decision.