Scrub Doc

Treasury Fund

A treasury fund has been set up as an additional measure to backstop LIONs 40:1 USDC and BEARs 300:1 WBTC peg alongside the LBOND/BBOND mechanism. The Scrub Finance Treasury DAO Wallet sole purpose is to aid in the reclaiming of peg and does so in a number of ways.
  • The Treasury DAO doesn't perform buybacks if LION peg goes under TWAP value of 1.01. We believe peg is really important to alert us if we are printing too much tokens, so we don't interfere with it. We are a currency and we spend, have taxes and other use cases to burn tokens if we stay under peg for a while and then we organically regain peg.
  • When the LION TWAP is extremely high the treasury fund will sell some LION in order to help the peg to stay around its natural balance.
  • The Treasury Fund may or may not make additional investment to yield and grow it's assets to bolster the Scrub ecosystem.
Scrub Finance Treasury DAO Wallet: 0x078c0Aa151565388a72D1d37781130B2d9bEaf8b
Scrub Finance Team Wallet: 0xd70853e48Ca7fDe799f039F7fb6BdE0425561900
Both Scrub Finance Treasury DAO Wallet and Scrub Finance Team Wallet are multisig wallets that needs 2 out of 3 signatures to authorize any transaction. This will ensure more security about how funds are managed by the team.
Last edit page: July 15, 2022