Protocol Parameters
Final production values should always be verified directly against deployed contracts.
| Parameter | Initial Design |
|---|---|
| Native Asset | $VSPR |
| Token Decimals | 9 |
| Staked Asset | sVSPR |
| Cycle Duration | 8 hours |
| Cycles per Day | 3 |
| Bond Vesting | ~5 days |
| Reserve Structure | Tokenized equities + stable assets |
| Liquidity Infrastructure | Uniswap v4 |
| Dynamic Window | Final 60 minutes |
| Open Fee | 30 bps |
| Last Light Fee | 30 to 200 bps, linear |
| Thin-Hours Fee | 100 bps |
| Fee Update Threshold | 5 bps |
| Protocol Fee Share | 50%, paid to the fee recipient inside the swap |
| Opening Taper, first 60 s | 10% buy / 15% sell |
| Opening Taper, next 60 s | 5% buy / 5% sell |
| Opening Taper, from 120 s | 2% buy / 2% sell, permanent |
| Cycle Reward | min(bond proceeds, excess reserves) |
| First Bond Asset | AAPLc |
| Primary Metric | Backing per VSPR |
Liquidity Parameters
Configurable parameters include base fee, closing fee, final-hour duration, protocol fee share, market opening time and market closing time.
Reserve Parameters
The Treasury maintains a whitelist of accepted reserve assets. Each requires appropriate pricing infrastructure, liquidity, valuation logic and risk assessment.
Bond Parameters
Individual markets may define accepted asset, capacity, VSPR price, discount and vesting duration.
Verification
Documentation describes intended protocol behavior. Deployed smart contracts remain the authoritative source for production parameters.