Is everything backed?

Dividend to Relaunch token holders

HolderPayouts

—not known: Not readable.

Relaunch token

—not known: Not readable.

The dividend share of every pool fee is paid into HolderPayouts in ETH, released slowly, and sent every few hours to everyone holding the Relaunch token, by average balance. Each round's file is published and its hash is on chain. The rounds and every listing's contribution

ETH ↔ SOL rebalancer

Buyers pay ETH into the vaults here; the hedges that keep every token backed buy on Solana with SOL. A dedicated wallet moves surplus vault ETH to SOL (and back when a vault runs short), through a bridge, within the caps below. It can only take ETH a vault does not need for redeems, at most a daily cap per vault, and only to itself.

What the keeper enforces

• Backing below —not known: solvencyFloorPct is read from /config. of supply pauses the vault. Hedges still in flight count as backing.
• Failed hedges above the unhedged limit pause the vault. A keeper pause can be lifted by the keeper after a cooldown; an owner pause only by the owner.
• Quotes expire in —not known: quoteTtlSec is read from /config.. No keeper, no quotes, no vault trades. The quoter refuses while the loop is stale, the listing is paused or quarantined, or exposure is over its limit.
• Per-mint, per-redeem and daily caps bound how much exposure can build before a hedge. Hedges of existing exposure are never deferred by the keeper's own daily cap.
• Keeper-owned liquidity is never re-centred while the pool is more than —not known: Reported in /status. from the Solana mid.
• A sale the keeper does not graduate within its window can be settled by anyone: with what was bought if at least a quarter of the budget was, otherwise with refunds (in full if none of the raise had left for Solana). The window is read from each Sale.
• Raise-funded graduation: if the keeper's whole server were taken over, what it could move is bounded on chain: the ETH in flight (at most one tranche, ≤ —not known: Reading the Registry…, per graduating sale) plus the release limit (—not known: Reading the Registry… at once and —not known: Reading the Registry… a day across all sales) until the owner or the watcher pauses releases. The watcher is a separate program with its own key, which can only hold settlements and pause releases, and its own RPC connections. For now it runs on the keeper's server, so whoever took that server over could stop the watcher as well (not the owner's pause); it is moving to a host of its own. This bound covers the ETH leaving sales only. The same server also holds the Solana keeper wallet with the real tokens behind the mirrors (all of them, unless a cold wallet is listed under “What you can verify yourself”), the keys that sign vault quotes and manage each pool's band, the rebalancer key, which can move a vault's spare ETH up to its daily cap (see the rebalancer above), and the two dividend keys: the payout wallet (see the Dividends page) and the agent that sells the token side of dividends at the vault.

What you can verify yourself

• Supply on Robinhood Chain: the token contract on the explorer, linked from each listing.
• Backing on Solana: the keeper wallet on Solscan.
• ETH reserve and queue: the vault contract's reserve() and queuedTotal().
• The pool positions: owned by the listing's PoolShare contract on the v4 PositionManager; keeper-owned liquidity by the keeper's own positions.
• Dividends: HolderPayouts' totals(), stream(), available() and byListing(id), and each round's Paid event whose hash matches the published round file, shown on the Dividends page.