Terms
- I.
Deposits
Every trade of $BARS pays a creator fee. Every 10 minutes those fees are claimed to the treasury and divided between every wallet holding $20 or more, by size. Each wallet's share goes into its box.
- II.
Holding
A share uses the smaller of a wallet's last two balances, so buying just before a deposit counts from the next one.
- III.
The opening
Every Sunday at 18:00 UTC the vault opens. Every box whose wallet's balance never went down since the last opening is released. Its share is bought as gold on Jupiter and sent to that wallet.
- IV.
Holding the week
A box opens when its wallet's balance never went down during the week. If it did (a sale or a transfer out), that week's share stays in the vault and is shared out again in the following deposits, and the box starts fresh the next week. Buying more never affects a box.
- V.
Gold
The gold is GLDx, Backed's tokenized share of the SPDR Gold Trust (GLD) on Solana. it tracks the GLD price. Backed issues it; it is not physical gold or the fund itself, and the issuer can pause or move it. Swaps use up to 2% slippage. Your first gold payment opens a token account in your wallet (about 0.002 SOL), paid from that payment.
- VI.
SOL instead
A holder can choose to receive SOL instead of gold on the My box page. The vault rules are the same.
- VII.
Small shares
A released share below the minimum for a gold purchase waits and is added to the next opening's release.
- VIII.
Where the money comes from
Creator fees on real trades of the coin, and nothing else. No trading, no deposits.