Protocol contracts deploy at launch. Until then, chain and price reads are live and everything else shows the launch design.
AddressesBuyer of last resort. Capped, public, on-chain.
Backstop
NAV per share
1.0000USDG
Starting value by design
TVL
0USDG
Vault deploys at launch
Deployed
0USDG
0 series · 0% utilisation
Withdrawal queue
0shares
FIFO, filled from idle USDG
Utilisation and caps
NAV per share · 30 d
30 d agoHistory starts at launchToday
Deposit USDG for Backstop shares. The vault buys CARRY legs where GUARD demand runs ahead, inside its caps and never below each template's minimum coupon.
Deployed series
Nothing deployed yet
Each series the Backstop fills will be listed here with its stock, amount, share of TVL and accrued coupons.
How the Backstop deploys
- 1. A series closes subscriptions with more GUARD than CARRY demand.
- 2. If the discovered coupon is at or above the template's Backstop minimum, the vault takes the gap.
- 3. Fills stop at the per-series, per-stock and total caps, whichever binds first.
- 4. Coupons and redemptions flow back to the vault and lift NAV per share.
Withdrawal queue
Queue is empty
Requests are paid at the NAV of the moment they fill and land in a claimable balance. Open requests can be cancelled by their owner, returning the shares.
Figures switch to live reads of the vault once it is deployed. Junior or first-loss tranches are out of scope for the first version.