FUNDSLaunch protocol Send collateral token, get FUNDS.
For every 1 USD worth of collateral tokens you put in, you get 1 FUNDS, minus a … fee taken from the collateral token you send. Minting uses the lower of the live price and the recent average.
How FUNDS works
Mint. Hold. Redeem.
One public vault.
FUNDS is a stablecoin backed by digital assets held in one public vault. Mint it with collateral token, redeem it for collateral token, and check the vault whenever you like.
Checking the vault…
01 · The flow
Two moves.
That's all.
Send FUNDS back, get collateral token.
For every 1 FUNDS, you get 1 USD worth of collateral tokens at today's price, minus a … fee taken from the FUNDS you send. Redeeming uses the higher of the live price and the recent average.
1 USD per FUNDS while the vault has assets. Redemptions are paid first come, first served. If the vault can't cover a whole request, it pays what it has and sends the rest of your FUNDS back.
Always use the app. The app adds a note to each transaction that links it to your request. Tokens sent straight to the vault can't be matched automatically and wait for manual review.
02 · Verify it yourself
Don't trust us.
Check the vault.
Every address below is public. Open any of them on a blockchain explorer to see balances and transactions for yourself.
Loading addresses…
03 · The rules
Fixed rules.
Shown live.
Every request follows these rules. The numbers are live, so what you see here is what applies right now.
01…
Fee
… on every mint and every redeem, paid to the FUNDS treasury.
02Lower of the two
Mint price
Minting uses the lower of the live collateral token price and its recent average.
03Higher of the two
Redeem price
Redeeming uses the higher of the two. In calm markets they are the same.
04…
Price guard
If the live price and the average differ by more than …, minting and redeeming pause until the price settles.
05…
Fresh prices
Prices older than … are never used.
06Partial + refund
1 USD per FUNDS while the vault has assets
Each FUNDS redeems for 1 USD worth of collateral tokens while the vault has it. If the vault can't cover a request, it pays part and sends the rest back.
07…
Your minimum
You set the least you will accept, … by default. If the result would be lower, your tokens are sent back.
08…
Right now
Checking whether minting and redeeming are open…
04 · The price
Where the price
comes from.
FUNDS runs on one number: the collateral token price in dollars. It comes from …, and FUNDS uses two versions of it.
LIVE PRICE…
The latest collateral token price.
AVERAGE PRICE (TWAP)…
The collateral token price averaged over the last …, called the TWAP.
GAP…
How far apart the two are. Above …, minting and redeeming pause.
Using both stops a sudden spike or dip from being used against the vault.
05 · The risks
READ BEFORE YOU MINTStraight answers.
No small print.
FUNDS is designed to hold 1 USD, but things can go wrong. Here is what to know before you mint.
collateral token can fall.
The vault holds collateral token, and collateral token's price moves. If it falls far enough, the vault holds less than 1 USD per FUNDS and redemptions may be partial.
01 / MARKETYou trust the operator.
The vault is a wallet run by the FUNDS operator, not a smart contract. You rely on the operator to process requests and look after the vault.
02 / CUSTODYThings can be paused.
The team can pause minting or redeeming and change settings such as the fee. While paused, you can't mint or redeem.
03 / CONTROLPrices can stall.
If the price is too old or moves too fast, minting and redeeming pause until it settles. That can take time.
04 / PRICENo guarantee.
FUNDS has no insurance, and nobody promises that 1 FUNDS will redeem for 1 USD. Only put in what you can afford to lose.
05 / PROTECTIONFAQ
Good questions.
Clear answers.
Why does minting use the lower price?+
So a sudden spike can't be used to take more FUNDS than the collateral token is worth. Redeeming uses the higher price for the same reason. In calm markets, the two prices are the same.
What happens if collateral token falls?+
If it falls far enough, the vault holds less than 1 USD per FUNDS and shows as Underwater. Redemptions are then paid first come, first served and may be partial. Any FUNDS the vault can't cover is sent back to you.
What happens if collateral token rises?+
The vault then holds more than 1 USD per FUNDS. The extra stays in the vault as a cushion. Your FUNDS still redeems for 1 USD worth of collateral tokens.
Who runs the vault?+
The FUNDS operator, a service that watches for incoming tokens and sends payouts. It is not a smart contract. The vault address is public, so you can check every balance and transaction yourself.
Can I send tokens straight to the vault?+
Please don't. The app adds a note that links each transaction to your request. Tokens sent without it can't be matched automatically and wait for manual review.
What if the price moves while my request is processing?+
Every request carries a minimum you choose, … by default. If the result would fall below it, your tokens are sent back instead.
See it live.
Then decide.
Check vault health, the prices and the rules in the app before you mint.