Mechanics
Premium sales
When ROTEO trades far above Hard NAV, the protocol sells a little new ROTEO and keeps every USDG.
When
Only while the TWAP is above 2× Hard NAV. Below that line, premium sales stop entirely.
How much
Each sale mints and sells up to 0.25% of the pool's ROTEO, at most once an hour and only within 1% of the TWAP. Anyone can trigger an eligible sale.
Why it raises Hard NAV
A premium sale brings in more USDG per new token than the Hard NAV already behind each one, so Hard NAV rises for every holder. It turns a market premium into reserves.