The protocol adjusts its behavior based on how $APIARY trades in relation to treasury backing:
Market cap > treasury by +30%
Growth: Compound Yield to grow treasury
Market cap within 30% of treasury
Distribute yield to staked $APIARY
Market cap < treasury
Buyback: 100% buyback and burn
To prevent the protocol from constantly flipping between actions:
Switch to "growth" mode when market cap rises above 32% of the fair value of protocol treasury
The protocol will stay in growth mode until market cap drops below 28% of the fair value of the protocol's treasury
Switch to "buyback" mode when market cap falls 3% below the fair value of protocol treasury
The protocol will stay in buyback mode until market cap rises 5% above the fair value of the protocol's treasury
Last updated 1 month ago