Token
Treasury floor
Reserves per BERRIER, redeemable within a daily cap.
Reserves
USDG, Stock Tokens and settled legs held by the Treasury from fees and bonds.
Floor and redemption
Burn BERRIER to receive its share of reserves. Total redemptions are capped at 1.5% of reserves per day.
Worked example
Reserves 3,000,000 USDG, supply 30,000,000: floor 0.10. Daily capacity 45,000 USDG.
Why a cap
The cap stops a run from draining reserves in one block and gives the buyback time to respond.
Reserve flows
| In | Out |
|---|---|
| 15% of fees | Floor redemptions |
| Bond payments | Liquidity programmes approved by governance |