Olla / Aztlan Labs — how the 60% proposal plays out

model · not an offer

An interactive model of those terms. Delegated stake, Olla TVL, token price, commission and Olla fee are separate inputs. Rates come from the v6 payout audit (26–29 Oct 2026), gas is measured, stake read 31 Oct. All figures are USD per 30-day month, business level.

Proposal terms discussed 21 Oct 2026 — not an agreement
  1. 60% equity in Aztlan Labs B.V.
  2. All cash surplus after expenses, until agreed otherwise.
  3. $6,000 buffer always comes first — nothing is paid until it is full.
  4. Losses drain the buffer; beyond it, owners fund 60% Filip / 40% Thom & Haischel.
  5. $5,000/month to Filip while the buffer is full; only the amount above that is split 60/40 as dividends.
  6. Settlement in EUR and tokens is a separate contract, fully performed before any shares move.

Filip will continue comms, infrastructure, best-efforts 24/7 validator uptime, treasury and bank operations. Filip can, if needed, do board work. Filip will not do accounting while the company is administered in the Netherlands.

Scenario
Inputs
Model

Expenses add your own lines, untick to exclude — nothing gets deleted, and scenarios never change this list

Revenue

Revenue vs expenses monthly, USD

Cash flow and buffer buffer always has priority: surplus fills it, losses drain it

Money to / from owners Filip: comp + 60% dividends − 60% calls · Thom & Haischel: 40% dividends − 40% calls

Cumulative Filip's dividends, and his compensation vs what he has had to put in

Dividends

Operating compensation vs capital calls

Grid

Rows
Show
Click a cell to load it.

Month by month

How the money rules work

  1. Monthly cash flow = revenue − expenses (included expense lines + proposal-execution gas).
  2. Buffer has absolute priority. Any surplus fills the $6,000 buffer before anyone is paid.
  3. Loss: the buffer absorbs it.
  4. Buffer empty: the rest of the loss is funded by the owners, 60% Filip / 40% Thom & Haischel.
  5. Surplus with a full buffer: Filip takes up to $5,000/month as operating compensation.
  6. Surplus above $5,000/month: the excess is distributed as dividend, 60% Filip / 40% Thom & Haischel.

Assumptions and limits

Rates (v6 payout audit, epochs 603–717, 2026-10-26 → 10-29, 2.99 days / 72 checkpoints): the protocol pays a gross 22,638 AZTEC per 1M staked per 30 days (2.26% per month ≈ 27.5%/yr), identical for both books. Delegated: 5,660 AZTEC per 1M at a 25% commission (14.398M staked across 72 attesters, 2.28% of network stake). Olla: 2,241 AZTEC per 1M at a 10% total fee assuming 99% capital efficiency (20.4M staked across 102 attesters). Both rates are inputs and scale linearly from those points — 100,285 × commission/25 and 22,410 × fee/10 per 10M. The Olla fee is shown as one line because the 5% provider and 5% protocol treasury shares both accrue to the business. Fees are minted as stAZTEC shares at an exchange rate of 1.07156, so this is accrual, not cash.

Gas is measured, not estimated, across the three operating addresses (olla-executor, aztec-publisher1, aztec-publisher2): 1,373 txs, 1–31 Oct 2026, 0.456676 ETH including priority and EIP-4844 blob fees. The operation pays this itself — no provider reimburses it. Normal months run at 0.0036 ETH per 1M staked per 30d; a month that catches a 4-hour fee spike (29–30 Oct hit 202 gwei, 0.3317 ETH on its own) runs at 0.0131. With roughly two spikes a year, the spike is amortised over six months: 0.0036 + 0.0131/6 = 0.0058 ETH per 1M staked per 30d ≈ $13.0 at ETH $2,244. That is what the model uses, and it is still about 0.2 ETH/month at today's stake. Excludes L2 and proving costs.

Presets (they only touch stake and price; the expense list is never affected): Bear 14M delegated / 10M Olla TVL / $0.005 (a 67% price crash). Break even 15M / 20M at the price where month one has zero cash flow. Bull 20M delegated / 50M Olla TVL / $0.025 (a good year, still below the $5k cap). Bull dividends 20M delegated / 100M Olla TVL at the price that produces exactly $6,000/month of surplus. Break even and Bull dividends stay solved: change the stake, commission or fee and their price follows. Editing the price directly, or anything under the other presets, drops you to Custom.

Growth: revenue grows at the rate in the Model row (5% p.a. by default) while expenses stay flat, so a scenario that starts exactly break-even turns profitable over the horizon. That growth is an assumption, not an observation.

Owner split: every payout and every loss is split 60/40 between Filip and Thom & Haischel. Their lines are shown separately in the money charts, the monthly table and the KPI cards, so they can check what the proposal pays them or charges them.

Olla baseline: modelled on a 10–20M AZTEC TVL at 99% capital efficiency, which is where the protocol has been operating. The reward rate itself rests on a 72-checkpoint sample (Poisson σ ≈ ±12%) and moves with checkpoint cadence and network stake, so treat the per-M figures as current, not fixed.

Sources. Payout data: ollafinance/aztec-payout-audit — v6 run epoch-603-717, blocks 26,160,102 → 26,297,532, accrual 2026-10-26 09:55 → 10-29 09:34 UTC. On-chain stake read at block 26,312,088 (2026-10-31 10:15 UTC). ETH $2,244.16 from CoinGecko, 2026-10-31. Gas measured on olla-executor, aztec-publisher1 and aztec-publisher2.