Summary
$ASG is the membership token of the Allied Stewards Guild, a set of ownerless onchain treasuries ("keeps") on Robinhood Chain. Any holder can burn $ASG for a pro-rata share of a keep, minus an exit levy that stays behind. The levy means the value backing each remaining token, the floor, can only ratchet upward.
Launched on pons.family. $ASG was created on the pons launchpad on Robinhood Chain. It has a fixed supply of 1B, was sold on a bonding curve, and then graduated into a Uniswap pool whose liquidity is locked forever.
The second keep adds Reserve Loans. Holders can borrow against $ASG at its floor value instead of selling. Repaid interest and liquidations both raise the floor.
Floor maths
floor = keep holdings ÷ unburned supply unburned = totalSupply − balanceOf(0x…dEaD) redeem(x) → holdings × x ÷ unburned × (1 − levy)
After a redemption of x tokens the keep has paid out less than x × floor, because the levy stays. So the new floor is ≥ the old one. The contracts also track peakBacking() and emit a BackingUpdated checkpoint after every change, which is what the chart on the front page plots.
Keep I · The Hearth
| Rule | Value |
|---|---|
| Holds | ETH only |
| Exit levy | 2% |
| Deposits | any ETH sent to it, from anyone |
| Strategy | none. Never trades, lends, stakes or buys its own token. |
| Extras | slippage floor (minOut), deadline, and redeemWithPermit for single-signature redemptions |
Keep II · The Reserve
| Rule | Value |
|---|---|
| Holds | one ERC20 reserve asset, set at deploy (default sfrxETH) |
| Exit levy | 15% |
| Holdings | liquid reserve + outstanding loans including accrued interest |
| Deposits | donate(), by anyone |
| Liquidity guard | at most 70% of holdings may be on loan at once |
Reserve loans
| Parameter | Value |
|---|---|
| Collateral value | $ASG × floor (redemption value). No price oracle. |
| Max LTV | 80% (for borrowing and for releasing collateral) |
| Liquidation line | 84%, strictly below the 85% post-levy value |
| Interest | 5% APY, compounding per second, charged to the borrower and paid into the Reserve |
| Minimum loan | 0.001 of the reserve asset |
| Keeper bounty | up to 1% of the collateral in $ASG, automatically capped so the floor cannot drop |
The floor only rises, so a loan only nears the line as interest builds up. At 80% → 84% and 5% APY that takes about a year. Borrowing at the full 80% is the aggressive end. When a loan is liquidated, the debt is written off and the collateral burned. The burned claim is worth more than the debt, so the floor goes up.
Because the line (84%) is below the post-levy value (85%), walking away from a loan is always worse for the borrower than redeeming. The loan is a way to stay in, not a cheaper exit.
Supply & genesis lock
Fixed supply of 1,000,000,000 $ASG. There is no mint function, no tax, no blacklist and no pause. A genesis allotment (10% by default) sits in an ownerless GenesisLock. It releases linearly after a cliff to a fixed beneficiary, and anyone can trigger the release. Locked tokens count toward unburned supply, so they dilute the floor honestly.
Who controls it?
Nobody. None of the contracts have an owner, upgrade proxy, pause switch or setter. The deployer's single power is a one-time initialize(token) on each keep. It exists for launchpad launches, where the keep must exist before the token. Once used, it can never be used again. Every parameter is immutable and readable onchain.
Risks
- Smart-contract risk. Read the verified code on the explorer before using it.
- Reserve asset risk. The Reserve's floor is measured in its asset (e.g. sfrxETH). If that asset loses value against ETH, so does the floor.
- Liquidity. Up to 70% of the Reserve can be on loan. A large redemption may have to wait for repayments.
- Unliquidated loans. A loan left past the line for years can end up owing more than its collateral's floor value, which is bad debt. Keepers are paid to prevent that, and anyone can do it from the front page.
- Market price. $ASG can trade above or below the floor. The floor is a redemption right, not a price guarantee.
Nothing here is investment, legal or tax advice.