The floor
| Held | Floor per $ASG | Exit levy | |
|---|---|---|---|
| I The Hearth | … | … | … |
| II The Reserve | … | … | … |
Supply counts every token not yet burned, including the genesis allotment held in the vesting lock. $ASG burned so far: ….
The keeps
Connect a wallet to burn $ASG for your share.
Reserve loans
Borrow the Reserve asset against your $ASG without selling it. Collateral is valued at its redemption floor, not a market price, so there is no oracle to game and no wick can liquidate you. Only interest moves a loan toward the line.
Liquidation watch
Anyone can liquidate a loan past the line. The debt is written off, the collateral is burned, and the caller earns up to 1% of it in $ASG. The bounty is capped automatically so the floor can never drop.
| Borrower | Collateral | Debt | Health | |
|---|---|---|---|---|
| Not scanned yet. | ||||
The ratchet
The floor per $ASG over time, taken from every on-chain checkpoint. By construction it never steps down.
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How the keeps work
- The keeps fill up. ETH goes into the Hearth and the reserve asset into the Reserve. Anyone can add to either, and every deposit raises the floor for all holders.
- The floor is arithmetic. Each keep's holdings divided by the $ASG not yet burned. No price feed and no committee, only a division anyone can check.
- Exit with a levy. Burn $ASG for your pro-rata share. A levy (2% Hearth, 15% Reserve) stays behind, so every exit raises the floor for everyone who remains.
- Borrow instead of exiting. Lock $ASG in the Reserve and borrow up to 80% of its floor value. Repaid interest raises the floor, and liquidations burn supply. Either way, holders win.
Questions
What happens when I redeem?
Your $ASG goes to the burn address 0x…dEaD for good. You receive the keep's holdings × (your amount ÷ unburned supply), minus the exit levy. The levy never leaves the keep.
Who controls the contracts?
No one. There is no owner, no admin, no upgrade path and no pause. The deployer's only power was a one-time initialize(token) for launchpad launches, and it is spent once used. Every parameter is immutable.
Where does $ASG trade?
$ASG launched on pons.family, the launchpad on Robinhood Chain. It trades on the pons bonding curve, then on its Uniswap pool once it graduates. The liquidity in that pool is locked permanently.
Can the floor go down?
Not through redemptions, repayments or liquidations. The maths is tested for all three. It can fall only if the Reserve asset itself (e.g. sfrxETH) loses value against ETH, or if a loan is left unliquidated long enough that its debt exceeds its collateral's floor value. That takes years at 5% APR, and anyone is paid to prevent it.
Why is the Reserve levy 15%?
It keeps borrowing cheaper than dumping. The liquidation line (84%) sits below the post-levy value (85%). So a borrower who walks away always leaves more value behind than they took.
What are the risks?
Smart-contract risk, risk from the Reserve asset, liquidity risk (up to 70% of the Reserve can be on loan, so large redemptions may need to wait for repayments), and the market price of $ASG, which can trade above or below the floor. Nothing here is investment advice.