Vault Core

Inside the Golden Vault

Every GBLIN token is backed by a proportional share of the protocol's treasury. The vault holds a diversified mix of Ethereum (WETH), Coinbase Bitcoin (cbBTC), and USD Coin (USDC). As these underlying assets grow or the protocol collects fees, the intrinsic value of GBLIN increases.

Treasury architecture

Fully collateralized by top-tier assets (WETH, cbBTC, USDC).

Designed as a redeemable reserve on Base: on-chain collateral (cbBTC, WETH, USDC), auction-based rebalancing, a 0.50% yearly management fee and nothing else.

1. Accumulation (stability fee)

Every ETH mint leaves 0.05% of its value in the vault without minting shares for it. The supply did not grow, so every existing share is now backed by slightly more.

3. The auction

When a row drifts past its band the vault opens a Dutch auction. The counterparty trades toward the target weights at the oracle price adjusted by a premium that rises to 0.25% over an hour. The premium is paid by the bidder, not the vault: rebalancing costs the holders nothing beyond the price move they wanted.

Protected reserves

Redistributed to all holders

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Holders claim nothing and pay no extra gas. Fees are applied inside the mint, the management fee accrues on every state change, and the auction opens by itself when the drift does.

Management fee

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0.5% a year on the supply, accrued pro rata to the fee recipient

Intrinsic Value (NAV)

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Treasury net asset value