# EDUT Membership Pricing Policy (v1)

This policy defines deterministic rules for membership mint pricing.

## Policy Objectives

1. Keep onboarding friction low.
2. Guarantee mint-cost coverage.
3. Support configurable growth tiers.
4. Keep pricing behavior transparent and auditable.

## Base Rules

1. Membership is paid.
2. Membership is required for marketplace purchases.
3. Membership price is configurable but must not go below policy floor.

## Floor Rule

1. Default floor target: USD 5.00 equivalent.
2. Effective configured price must satisfy:

```text
configured_price >= max(minimum_floor, estimated_network_cost * safety_multiplier)
```

3. Recommended default `safety_multiplier`: `1.5`.

## Supported Settlement Currencies (v1)

1. `USDC` on Base (preferred stable settlement).
2. `ETH` on Base (optional).

`BTC` display may be shown as reference only; settlement remains Base-native.

## Tier Policy (Optional)

1. Tiering is supply-based (`total_membership_minted`).
2. Each tier has:
   - `max_supply`
   - `currency`
   - `amount_atomic`
3. Price transitions occur automatically when supply crosses a tier boundary.
4. Tier changes emit on-chain events.

## Quote Lock Requirements

Each mint quote must include:

1. `quote_id`
2. `wallet`
3. `currency`
4. `amount_atomic`
5. `expires_at`
6. `policy_hash`

A wallet confirmation is valid only when tx matches quote values exactly.

## Governance Controls

1. Price updates are owner-controlled and event-emitted.
2. Recommended: timelocked updates for non-emergency changes.
3. Emergency freeze may pause minting without changing historical receipts.

## UX Disclosure Rules

1. Show exact payable amount before wallet confirmation.
2. Show currency clearly (`USDC` or `ETH`).
3. If BTC equivalent is shown, label it `reference only`.
4. Never imply investment return or speculative upside.

## Evidence Requirements

For each membership mint, persist:

1. quote payload
2. policy hash
3. tx hash
4. chain id
5. wallet
6. confirmed amount
7. activation timestamp

## Non-Goals (v1)

1. Native BTC settlement.
2. Multi-chain settlement.
3. Dynamic market-maker pricing.