The next generation reserve asset
A basket that
defends itself
cbBTC, Ethereum and dollars in one token. When an asset crashes, the contract cuts its weight on its own.
NAV per token
$89.35
Rebalancing auction
Closed · gap 0.1%, opens above 7%
- Payments observed
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- Payments today (UTC)
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- MCP calls (free)
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- MCP today (UTC)
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Payments: USDC transfers from external addresses. MCP: free, our own checks includedVerify
Diversified reserve
Bitcoin, Ethereum and dollars in one holding, so no single asset decides the outcome.
Smart protection
When an asset crashes, the contract cuts its target weight on its own and restores it as the fall is recovered.
Transparent
Every reserve, weight and parameter is read from the chain, and the verified source is published.
Built to grow
Minting and redemption happen at the value of the reserves, at any size, with no market maker in between.
Ten years of real prices.
Half the fall.
We didn't draw a marketing chart. We replayed GBLIN's exact on-chain Crash Shield over a decade of real Coinbase prices — every bull, both bears, COVID and FTX. Starting from $10,000:
The shield is not built to win the climb. It is built to give back less on the way down, and that is the line above.
Same basket with the shield switched off: $1,629,256 after ten years, about 5% more than with the shield, but a worst fall of −84.7% instead of −50.3%. That is the price of the shield, and its purpose.
WhitepaperDrawdown
Point at the chart to read any month.
Simulation on daily prices, rebalanced to the model weights each day. It does not include the management fee, gas, trading costs or the time and fills of the rebalancing auctions. It is not the historical net return of the vault.
GBLIN Crash Shield
$1,546,640
Max drawdown −50.3%
Hold 100% BTC
$1,301,533
Max drawdown −83.8%
Hold 100% ETH
$1,183,376
Max drawdown −94.0%
Same basket, no shield
$1,629,256
Max drawdown −84.7%
How we proved it
We ported the live refreshWeights() logic line by line — EWMA volatility, dual decaying price peaks, an adaptive drawdown threshold, proportional de-risking into USDC, and hysteresis on recovery — then applied yesterday's weights to each day's real return (zero look-ahead). Validated four ways: buy & hold reproduces price ratios to the cent, shield-off reproduces a static 45/45/10 basket exactly, weights always sum to 1, results are deterministic.Backtest of the live shield logic on real historical prices. Past performance is not indicative of future results.
Real assets.
Real value.
Every token is a claim on the reserves held by the contract on Base. The weights below are live; the mark on each row is the target the auction works towards.
Mint at fair value, hold a basket, leave whenever you want
Every share is backed by the basket. Three things move the value of a share: the assets themselves, the fees that stay in the vault, and an auction that rebalances at a premium paid by the counterparty, never by the holders.
1. Mint fee
A 0.10% fee on every mint with ETH or WETH: 0.05% stays in the vault and lifts the NAV of every share, 0.05% is minted as shares to the fee recipient. In-kind deposits pay a 0.50% floor plus a deviation tax when they push a row past its target; that surplus stays in the vault too.
2. Management fee
0.50% a year on the supply, accrued pro rata as shares to the fee recipient on every state change. It is the only recurring fee, and it is minted, never taken out of the reserves.
3. Nothing leaves on redemption
Redeeming in kind pays the exact pro-rata slice of every row, with no fee and no price feed. Exiting to ETH goes through the Zap, which sells the legs on a venue: that cost is the market's, not the vault's.
Every purchase adds reserves behind every token.
A flat 0.10% fee applies when you buy GBLIN with ETH; a 0.50% yearly management fee accrues while you hold. Sending GBLIN is always free. Here is exactly where the 0.10% goes:
0.10%
Fee on every buy
0.05%
Funds development
0.05%
Into the treasury
That treasury slice stays in the vault as real cbBTC, WETH and USDC — without minting a single new GBLIN. Same supply, more assets behind it. So the intrinsic value (NAV) of every GBLIN in circulation rises — mathematically, on every purchase.
0%
Fee to transfer
Zero
Pre-mint — fully collateralized
NAV ↑
For every holder, every buy
What you don't pay
Tokenized index products on Base typically charge 1.5-2% a year, deducted from your position for as long as you hold it. GBLIN charges 0.10% once, at the door, and 0.50% a year while you hold.
| Holding $1,000 | GBLIN | A 2%/year product |
|---|---|---|
| First year | $6 | $20 |
| After five years | $26 | $100 |
Simple arithmetic, before compounding, at any size: a one-off 0.10% of what you put in, plus 0.50% a year accrued as new shares to the fee recipient. Break-even against a 2% annual fee takes about 24 days.
What you actually pay
The contract sells at one price. The pools don't.
Minting issues new tokens against your deposit, so the price per token does not move with the size of your order. Swapping in a liquidity pool moves the price against you, and these pools are small. Both columns below are live, read from Base a moment ago.
| You spend | Mint from the contract | Swap in the pool | The pool costs |
|---|---|---|---|
The pool column uses the deepest pool that exists for the vault in service, including its fee; while there is none, only the mint price is shown. The mint column is quoteBuy() read straight from the GBLIN Lens. Total depth of that pool right now: —. An order much larger than that depth would not realistically fill: most DEX interfaces block a swap once the price impact gets this high. That is a limit of the pool, not of the token — the contract itself quotes the same price at every size.
This is a small vault. That is exactly why minting and redeeming exist.
The vault holds $597.45 today. In an ordinary token that would mean you cannot get in or out without paying for the privilege. Here your entry and exit prices come from the basket itself, not from how many other people happen to be here. Every figure on this page is read live from the contract and every one of them can be checked on BaseScan.
Each share is priced at NAV, so you buy the amount you want and a fraction of a share is fine, the way you would buy 0.001 BTC. A small supply means the vault is young, not that something is wrong. We are small and new: verify every number yourself.
Explorers price the token from the markets they index, not from the vault, so they may show a price of zero. The NAV is read from the contract itself.
Verify everything
Audited by Soken in October 2026, with no critical, high or medium findings. Everything else is bounded in code and readable by anyone on Base.
Redemption is always open
Selling back to the vault reads no price feed, charges no fee and has no pause function: you receive your share of every asset, in kind.
Read the contract on BaseScanGovernance is bounded
Every parameter has a hard cap in the code and moves only through a 48-hour public timelock. There is no proxy and no upgrade path.
Timelock on BasescanSource verified on-chain
The exact sources and compiler settings are published; the deployed bytecode is reproducible from them.
Read the sourceAudited by Soken
Soken audited the seven contracts in production at commit 311bd91: 0 critical, 0 high, 0 medium, 2 low, 14 informational. All seven match the audited build byte for byte.
Read the audit reportBuilt for agents
Readable by machines, payable by signature
Risk regime and attestations over MCP and x402, and a token that moves with an EIP-3009 signature, without gas.
Contract notes. Current GBLIN contract on Base: 0xc2181d975c05c8c724b334bcED0764c0b86B1D53. Earlier deployments at 0x36C81d7E1966310F305eA637e761Cf77F90852f0 and 0x38DcDB3A381677239BBc652aed9811F2f8496345 carry the same name and symbol but are superseded: they are not the token this site describes and should not be traded or integrated. Holders of either can move across with the migration panel on the account page.