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Economics

This page separates what runs today from what the token launch is planned to change. Last reviewed: 23 September 2026.
Keep the two regimes in separate sentences. Do not mix them. Live numbers come from GET https://api.malibu.tech/v1/rate-card, which shows provider_share_bps: 9000 on every row. For the formula, see Payments & payouts and Metering & billing.

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Live marketplace

Gross credits are computed from the model’s rate-card row. The 90/10 figure splits those credits between provider and operator. It is not a buyer discount. Credits convert at the card’s usd_per_million_credits, which is 1.0: 1,000,000 credits = 1.00.Modelswithouttheirownrowusethe‘default‘row(500,000prompt/1,000,000completioncreditsperMtok,whichis1.00. Models without their own row use the `default` row (500,000 prompt / 1,000,000 completion credits per Mtok, which is 0.50 / $1.00). Admission is referral-gated in pre-beta, so new providers join with an invite. There is no public “$X/year per Mac” figure. After you serve traffic, read your own numbers in the Malibu app.

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What buyers pay today

  • Public API buyers are not charged in pre-beta. The gateway meters every request against a daily per-account token quota, which is shown in the console. Checkout, cards, and prepaid USDC top-up are not live.
  • Wholesale partners can be invoiced after the fact in USD for metered, settled usage, priced from the same rate card.
  • In both cases, provider credits accrue at the 90% share for work that settles.

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Live rate card

Snapshot of GET https://api.malibu.tech/v1/rate-card (card generated 22 September 2026). Prices below are USD per 1 million tokens, which is the card’s credits-per-Mtok value ÷ 1,000,000 at usd_per_million_credits = 1.0. Every row has provider_share_bps: 9000 and global_multiplier_ppm: 1000000. Rates change, so read the endpoint for current values; the card’s version field identifies the exact card. A row on the rate card sets a price. It does not mean a provider is serving that model right now. Which models are routable depends on which Macs are online. See /v1/models (authenticated), the Model catalog, and Network status. The cached prompt rate applies only to prefix-cache hits on a sticky follow-up turn; every other prompt token bills at the full prompt rate. See Sticky conversations.

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Reward ledger (preview)

In pre-beta the network also keeps an off-chain $MALIBU reward ledger for verified useful work. It is capped per provider and per wallet, and it is separate from marketplace credits. No token is live, and ledger entries cannot be withdrawn or transferred. Do not count them as marketplace earnings. On-chain emission is still Planned; see Network status.

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Planned token launch

If and when token economics activate, each buyer dollar is planned to split as follows:
  • 70¢ to the serving provider
  • 12¢ to protocol-owned USDC reserves
  • 18¢ to a market buy-and-burn of $MALIBU
That split replaces 90/10. It does not add to it. The effective date is TBD; watch Network status. Illustrative early-network token scenarios assume this regime and a token price. They are not live marketplace payouts or projected earnings. See Provider economics.