The treasury workbench

Follow the arithmetic.

Change the inputs. See the allocation and dilution. These scenarios run locally; no live treasury or wallet is connected.

Epoch settlement

Illustrative accounting units. Proposed net split: 50 / 30 / 20.

Collected eligible fees

Operating costs

Realized losses

Required reserve top-up

Prior uncovered deficit

Participant token-seconds

Total eligible token-seconds

Distributable net

—

Staker pool / 50%—

Retained treasury / 30%—

Liquidity budget / 20%—

Participant allocation—

Uncovered deficit to carry—

Assumes reserve coverage passes after the top-up. Bond deposits and unrealized gains are excluded. If the reserve floor fails, no allocation occurs even with a positive modeled result.

Settlement definitions

Issuance workbench

Does the bond pass?

Two accounting gates: adjusted backing and the rolling issuance cap. This models a single window with no other supply changes.

Adjusted external-asset NAV

Committed supply / window snapshot

Net deposit after fees & haircuts

Reference token price

Discount (%)

Tokens already committed this window

Arbitrary units. The actual market reference would require an approved oracle. Unvested commitments are included in supply.

The proposed quote

Bond price—

New token commitment—

Adjusted backing / token before—

Adjusted backing / token after—

Existing-holder percentage dilution (%)—

14-day linear vesting. Passing these gates does not validate a market price or guarantee a return. This calculator does not submit quotes or accept deposits.

Full bond policy

Download proposed parameters · Download an empty epoch record

Calculations use browser floating-point arithmetic for explanation. Contracts require fixed-point units, explicit decimals and deterministic rounding.