Pre-launch. Contracts are not yet deployed — every readout below is a placeholder until genesis.

Bond desk

Trade metal for the claim.

Hand USDG, GLD or AUR/GLD LP to the treasury and receive AUR, vested linearly over five days and claimed straight into staking as sAUR. Each market is a reverse Dutch auction: the price opens at a premium to TWAP and decays toward a floor that can never drop below live GLD backing — bonds are non-dilutive by construction. Each purchase moves the auction clock back toward its opening premium in proportion to the market capacity it uses.

USDG Bond

Sealed

$—

live auction price per AUR

—%

vs market TWAP

Auction decay—

Open —Floor —

Floor = max(TWAP −—%, backing —)

Each purchase moves the auction back toward its opening premium in proportion to the capacity it consumes — filling the market reopens it at the premium; a small buy barely moves it.

Max payout / deposit

—

premium —

Debt cap— / — AUR

cap —

USDG bonds convert to GLD automatically at the oracle rate (TWAP-banded) — inflows land as gold, keeping GLD backing per AUR non-dilutive.

VestingNo position

5-day linear vest. Claims deliver staked sAUR, earning epoch yield from the moment you claim. Unstake anytime on the Stake page.

GLD Bond

Sealed

$—

live auction price per AUR

—%

vs market TWAP

Auction decay—

Open —Floor —

Floor = max(TWAP −—%, backing —)

Each purchase moves the auction back toward its opening premium in proportion to the capacity it consumes — filling the market reopens it at the premium; a small buy barely moves it.

Max payout / deposit

—

premium —

Debt cap— / — AUR

cap —

VestingNo position

5-day linear vest. Claims deliver staked sAUR, earning epoch yield from the moment you claim. Unstake anytime on the Stake page.

AUR/GLD LP Bond

Sealed

Staged market — bonds AUR/GLD LP tokens to grow protocol-owned liquidity. It opens once genesis finalization seeds the POL pair and registers it here.

$—

live auction price per AUR

—%

vs market TWAP

Auction decay—

Open —Floor —

Floor = max(TWAP −—%, backing —)

Each purchase moves the auction back toward its opening premium in proportion to the capacity it consumes — filling the market reopens it at the premium; a small buy barely moves it.

Max payout / deposit

—

premium —

Debt cap— / — AUR

cap —

VestingNo position

5-day linear vest. Claims deliver staked sAUR, earning epoch yield from the moment you claim. Unstake anytime on the Stake page.