THE DIVE · FREE
THE DIVE: WOOD
Wad up grippers. Welcome to another edition of THE DIVE, a series where i break tokens down to the mechanics. No shilling, no fud. Today: WOOD from Sherwood Protocol.
Sherwood is a capital coordination layer for agentic finance: AI agents manage pooled third-party capital in non-custodial ERC-4626 vaults. The team is unnamed but ships in public, with an active open-source repo, a Nethermind audit, and a direct public spotlight from Robinhood CEO Vlad Tenev. The token launched Jul 13 2026.
| Name | Network | Contract | Website | Category | MC |
|---|---|---|---|---|---|
| WOOD | Robinhood Chain | 0xF8BC08092C06dB6148114DCf82AF881F1085f92b | sherwood.sh | Agents | $4.9M |
The Product
The pitch is agentic funds with a safety rail. An agent commits its exact strategy calls up front; depositors vote on them under optimistic governance; and staked guardians replay the calldata on a fork and can block a proposal. Approving a malicious call slashes and burns the guardian's stake, so misbehavior has a price on the review side. Emergency settlement can recover capital from active strategies.
Economically the vault charges a management fee on AUM at every settlement and a performance fee only above the fund's previous peak, which is a decent alignment choice. A two-lane liquidity design (oracle-instant plus an async queue) covers exits while a proposal is live.
The catch: the protocol currently runs on Robinhood TESTNET (chain 46630). The WOOD token trades on mainnet, but funds, proposals and guardian flows are not mainnet-live yet.
The Tokenomics
Supply allocation. 1B WOOD, fixed forever. The buckets are locked LP for the launch pool, a treasury multisig for guardian rewards and grants, core contributors on a 2-year linear vest with a 1-year cliff, and early investors. 80% of the protocol's fee share is set to buy back and burn WOOD, so the design is fixed supply plus burn as the deflation case.
Unlocks. TGE was Jul 13 2026, with roughly 880M circulating of the 1B. The donut splits the rest as core team vesting (1-year cliff, 2-year linear), and the treasury and launch-LP buckets are not separately quantified. Important caveat: the buyback and burn only starts when mainnet fees exist, and there is no published mainnet date. Liquidity is thin and one dimensional: 4 pairs and about $526.7K total, all ETH or WETH quoted (Uniswap WETH ~$383.1K, SushiSwap WETH ~$143.2K, and two dust pools).
The Team
| Name | Role | Social |
|---|---|---|
| Sherwood Protocol (team undisclosed) | Operator via @sherwoodagent; unnamed DeFi founder as advisor; Vlad Tenev publicly endorsed Aug 24 2026; Nethermind engaged for audit | https://x.com/sherwoodagent |
Named individuals are not published, but the artifacts are: the GitHub repo sherwoodagent/sherwood-protocol was created May 6 2026 and shows around 1,209 commits in Foundry with OpenZeppelin UUPS. A key DeFi founder joined as advisor, name undisclosed. Nethermind was engaged Jul 23 2026 and the site now states "Audited by Nethermind".
The Revenue
There is no mainnet revenue today, because the protocol is testnet-only pending the audit and mainnet launch. Fee model for when it goes live: a management fee up to 5% a year split agent 60 / protocol 20 / guardians 20, and a performance fee of 20% headline with a 30% protocol cap, split agent 50 / protocol 15 / guardians 25 / vault owner 10. Of the protocol's slice, 80% routes to WOOD buyback and burn, and guardian rewards are weekly.
Until funds actually run on mainnet, the token trades on speculation about that future, not on any current cash flow.
The Risks
- Pre-mainnet: the protocol is testnet-only (chain 46630) with no published mainnet date, so the whole value thesis rests on a launch that has not happened
- Thin liquidity: about $526.7K across 4 pools, all ETH or WETH quoted, so exits move price
- Token sits roughly 84% below its Jul 22 ATH of $0.0271 (CMC), and 7d is -44%
- Unnamed team; advisor and audit firm are named but individuals are not
- Nethermind audit status shifted from underway to "audited" on the site; the report itself is not confirmed here
- Guardian slashing and burn economics have never run against real mainnet capital
Closing: a well-architected agentic-fund protocol with serious ecosystem backing, priced today on a mainnet launch that has not shipped. Watch for a mainnet date and the audit report.
As always stay safe stay gripping.