Protocol treasury
Every index sends 1% of its supply at launch plus 10% of all trade fees (in USDG) to the protocol treasury. It is held under governance today — the $IPAD governance token is deferred and will be dropped to participants later, at which point the treasury migrates to the token-linked recipient.
Fees to treasury
$1,000
Fees processed
$10,000
Indexes
1
Treasury contract0x4828b9dC8cec82311c5F6c8C1426fDb3036b0473 ↗
Governance can migrate the accrued USDG and the 1% index-token holdings to the future $IPAD treasury in a single call. The fee recipient is a mutable registry address, so the handoff needs no core-contract redeploys.
$IPAD launches later. The governance token isn't live yet — when it ships it will be distributed to participants and become the treasury's redemption backing. Nothing is required from index creators or holders in the meantime.
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