# Tokenomics The tokenomics design has three core pillars: *** **Demand:** * Agent creation fees require the purchase of HWTR tokens * Users need tokens to participate in the ecosystem *** **Value Accrual:** * Trade fee buybacks create consistent buying pressure * Circulating supply decreases over time (assuming tokens are burned) *** **Growth Incentives:** * Referral program distributes a share of fees to drive user acquisition * Network effects: more users = more trading = more fees = more buybacks --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://hedgewaters-organization.gitbook.io/hedgewater-associates/tokenomics.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.