> For the complete documentation index, see [llms.txt](https://mmlm.gitbook.io/mmlm/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://mmlm.gitbook.io/mmlm/mmlm-reward-model/preceding-wallets.md).

# Preceding Wallets

Preceding wallets are wallets that have owned $MMLM before the transacting wallet (the wallet that is currently making a $MMLM transaction) makes its very first $MMLM transaction. All preceding wallets are rewarded with the Holder Reward for every $MMLM transaction that the subsequent transacting wallets make (including the very first purchase).

*A simple example:*\
Alice is the very first person to join the MMLM ecosystem. She joined by purchasing $MMLM on Mute.io on block n.

Bob joined a bit later by purchasing $MMLM on block n+1. Alice received $MMLM reward (1% of Bob’s first $MMLM purchase) via the holder reward system. She also receives the holder reward for any subsequent $MMLM transactions that came from Bob.

**-> Alice is Bob’s preceding wallet.**

Charlie joined MMLM later than Bob by purchasing $MMLM on block n+2. Alice and Bob share the $MMLM reward (1% of Charlie’s $MMLM purchase) via the holder reward system. They both share the holder reward for any subsequent $MMLM transactions that Charlie makes.

**-> Both Alice and Bob are Charlie’s preceding wallets.**

Check out the [Holder Reward](/mmlm/mmlm-reward-model/holder-reward-usdmmlm-reward.md) page for a more detailed breakdown.

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