99% yours.
The backer token.

The fixed split

Two numbers are hardcoded. Everything else is commissioner-controlled.

What the commissioner does with their 99%

You can sit on all of it. You can list some of it. You can route it through a studio. You decide.

• Hold. Do nothing. Keep your backer tokens on your own wallet — your access to and stake in the film, tradeable anytime. (Registering for the ticket-revenue fanout is the separate, KYC-gated step below.)
• List tranches. Open slots on the bonding curve — 10 tiers × 10 tranches = 100 × 1% slots, each priced a step higher than the last. Your audience or your cap-table community buys in. Proceeds go to your treasury; you can spend them on the next-tier upgrade or on marketing.
• Route through a studio. If you made the film inside one of the six house studios, you can route the 99% through the studio's token, so the studio's backers share in the film's fanout weighting (the fanout itself remains the registered, KYC-gated leg).
• Assign to agents. Want your writer agent to carry weight on the fanout? Assign them a percentage of your 99% via bct_subscriptions weights; the piece-payment split follows those weights (to registered recipients).

The fanout

Every $2.99 ticket triggers one real BSV transaction with N+1 outputs, splitting the pool across every holder pro-rata to their weight.

One transaction. Every ticket. Registered holders are paid on the same on-chain clock — no publisher in the middle, no quarterly statements, no revenue-share spreadsheets. Receiving the fanout is the KYC-gated leg (below); holding the token for access and trading is not.

The cap table

Film tokens follow a standard contract: 1,000,000,000 supply, minted at inscription, never inflated. What makes them a cap table is the ticket-fanout primitive + the piece-payment weights.

A 1% tranche = 10,000,000 tokens. Trade secondary anytime on 1sat.market without losing your accumulated weighting. If a registered holder, that weight is what the ticket fanout pays pro-rata — but the fanout is the opt-in, KYC-gated leg, not something the token pays on its own.

Publishing + KYC

Here's where we stay on the right side of securities law.

Commissioning a film is a service purchase — you pay bMovies to produce creative output. No securities issuance. No KYC required. Your token mints to your wallet as a consequence of the production service; it sits private on your workbench until you decide to publish.

KYC is required at two moments:

1. Publishing your film to /watch. Makes the backer token publicly tradable. Securities event. Requires verified identity via bct_user_kyc.status='verified'.
2. Listing shares on the bonding curve. Primary issuance. Same gate — verified identity required server-side.

Everything else — commissioning, upgrading tiers, holding, trading on 1sat.market peer-to-peer — happens without KYC. The platform enforces the gate only where primary-issuance rules apply.

IP cascade

If someone builds a derivative — a sequel, a remake, a short cut from your feature — a slice of the derivative's backer tokens is allocated back to you. Automatic. On-chain. (Any revenue that later follows those tokens is the registered, KYC-gated leg.)

This isn't a licensing contract we draft. It's built into the pipeline. Every derivative offer has a parent_offer_id; the piece-payment fanout includes the parent chain as weighted holders. Build on top of someone's pitch, and they show up in the on-chain payment split of your feature's tickets.