The Welsh Street Solution

The Welsh Street Exchange addresses the community coin paradox by introducing a dedicated meme rewards system. The system combines a fixed-supply monetary base (WELSH) with a fixed-emission, disinflationary rewards asset (STREET) to produce a hybrid capital instrument (CREDIT).

Welsh Street emerged from the recognition that WELSH required structured economic infrastructure to transition from a static community asset into an active on-chain economy. Because WELSH, STREET, and CREDIT each operate under distinct monetary policies, their interaction requires coordinated market logic and purpose-built reward mechanics.

At its core, the Welsh Street Exchange is a Uniswap V2-style Automated Market Maker (AMM) enhanced with a native rewards layer: Meme Rewards.

Meme Rewards

Meme Rewards is a structured incentive system built around three interconnected tokens, each with distinct monetary properties that collectively define the system’s economic behavior.

WELSH: Store of Value

WELSH is the base asset of the Welsh Street ecosystem. The entire supply of WELSH is in circulation at genesis. No additional WELSH can be minted and no mechanism exists to reduce supply, making its monetary policy fixed and immutable. Similar to Bitcoin, WELSH operates as a non-dilutive, hard-capped monetary base.

As the fixed-supply foundation of the system, WELSH provides the scarcity anchor against which other ecosystem assets operate.

WELSH is a monetary base asset with immutable total supply.

STREET: Rewards Token

The STREET token is the rewards asset of the Welsh Street system. STREET follows a fixed-emission schedule: a constant quantity of tokens are minted per Bitcoin block. Because total supply grows linearly while issuance remains constant, the inflation rate declines asymptotically over time. This makes STREET a disinflationary token with perpetual emissions.

The continuous issuance of STREET ensures that rewards remain structurally available without requiring a terminal supply cap. As participants receive and deploy STREET within the ecosystem, this creates recurring economic interaction with WELSH, the fixed-supply base asset. The interaction between a non-dilutive monetary base (WELSH) and a disinflationary rewards asset (STREET) forms the core dynamic of the Welsh Street economy.

STREET is a disinflationary rewards token with perpetual emissions.

CREDIT: Capital Instrument

When a fixed-supply monetary base (WELSH) pairs in a liquidity pool with a fixed-emission, disinflationary asset (STREET), the result is CREDIT — a hybrid capital instrument.

CREDIT is not a primary monetary asset. It is a productive liquidity token representing proportional ownership of a dual-asset reserve composed of:

A fixed-supply monetary base (WELSH), and
A disinflationary, fixed-emission rewards asset (STREET).

The value of CREDIT is derived from three structural sources:

Trading fee revenue generated by market activity
Emission-driven reward flows
The relative supply dynamics of the underlying assets

CREDIT also tokenizes liquidity positions. Unlike DEX designs where LP shares exist only in internal accounting, CREDIT tokens are transferable and can participate in secondary markets. Liquidity providers may claim STREET rewards while retaining their pool position, or compound exposure by pairing STREET with additional WELSH to mint additional CREDIT.

CREDIT is a hybrid productive capital asset representing a claim on the reserve pool.

Welsh Street Credit

All three tokens, WELSH, STREET and CREDIT work together to create the core principal of Meme Rewards: combine two asymmetric monetary policies within a single market structure.

WELSH operates as a fixed-supply, non-dilutive monetary base. STREET follows a fixed-emission schedule with asymptotically declining inflation. When paired in a liquidity market, CREDIT, these assets create a structured interaction between scarcity and continuous issuance.

Unlike traditional fiat systems where expanding supply dilutes the monetary base, Meme Rewards introduces new STREET emissions while maintaining a fixed WELSH supply. WELSH cannot be debased. Emitted STREET enters circulation through liquidity participation and market activity, creating recurring dynamics between the emission asset (STREET) and the monetary base asset (WELSH).

This interaction transforms WELSH from a static community asset into the foundational unit of account within an active DeFi market. Continuous emissions provide structural incentive for liquidity participation, while WELSH remains the scarcity anchor of the system. The resulting dynamic forms the economic mechanics of the Meme Rewards protocol. On the Welsh Street Exchange, we call this Street Credit.

WELSH Corgi on the Wall Street Trading Floor

From Wall Street to Welsh Street

Wall Street became synonymous with capital formation and financial coordination in the Web2 era.

Welsh Street brings that energy on-chain — transforming a fixed-supply community asset into the foundation of a functioning DeFi market.

Through structured emissions, liquidity markets, and transferable capital tokens, Welsh Street converts passive holdings into active economic participation.

WELSH holders gain access to structured liquidity participation. New participants enter a system with defined monetary architecture. The result is a community asset no longer static, but integrated into a living, on-chain economy.

Web2 had Wall Street

Web3 has Welsh Street