VADER and the TWAP function transmits the “anchor” price of VADER in USD. This allows anyone to burn VADER to mint USDV at 1:1 the TWAP price.
VADER is issued 10,000:1 for holders of Vether (VETH) - which itself is distributed via a fair process of Proof-of-Value. Since VETH is acquired only by the provable burning of ETH via a daily auction; it is sybil-resistant, decentralised and has unforgeable costliness.
VADER has a maximum supply of 25bn. 7.5bn is claimed by the holders of VETH, and the additional 12.5 bn is paid out as liquidity incentives, 2.5bn for partnerships and 2.5bn for the team linearly vested over 2 years.
VADER contains a Fee-On-Transfer which is proportional to the current supply, but increases linearly the closer VADER is to its Maximum Supply in the range from 0 to 100 Basis Points.
Last modified 2mo ago
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