TREAD is the token used within tread.fi, an algorithmic trading terminal and agentic trading ecosystem for digital asset markets, connecting the traders, builders, and exchanges that use the platform. Traders link their own exchange accounts or a Web3 wallet and route activity through a single interface, with execution algorithms including TWAP, scaled orders, and smart order routing, alongside autonomous agents that operate across connected venues. TREAD is a consumptive utility token: holders lock it to access fee discounts, agent marketplace listings, and hiring slots, with no yield, interest, or reward paid on any lock. The Tread Foundation is an independent entity that stewards the token and its ecosystem. TREAD has a fixed supply of 100,000,000 minted on Ethereum. The supply is permanently capped, with no mint function and no inflation. More than half of the supply is reserved for the community and the broader tread.fi ecosystem.