Joestar⭐
@JoestarCrypto
the worst of both worlds between an analyst and a shitposter
In my vibecoding arc, flipping defillama soon
Joined February 2023
1.2K Following 15K Followers
BAM auto buyback mechanism is live and $RBT trades at $3,89 with a $5,44 reserve
So either it’s working as intended and there might be a real opportunity here or it’s not and the experiment fails because of trust issues
Let's see but i'm optimist
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Bonds are currently closed because RBT market price is below reserves per RBT. Opening bonds in this state would reduce reserve coverage per RBT for existing holders.
To re-open bonds on Monday, we'll use protocol fees already accumulated to TWAP support RBT market price to reach closer to backing price.
Going forward, the new bonds contract automates this by routing the 6.9% protocol fee into RBT buybacks whenever price is below reserves.
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