Experimental and unaudited. TRA targets 1 USD but is not redeemable for USD and may lose its value. Converting TRA into TRM is not a redemption.
FOUNDATIONTerminus · Trantor · Ethereum
Monetary policy

The Plan

The closed formulas, the parameters in force and every mint and burn. Formulas and defaults come from docs/SPECIFICATION.md.

Not deployed · Ethereum

Formulas

All divisions round down, in the protocol's favour.

deviationBps = (P_TRA − 1 USD) × 10,000 / 1 USD Expansion — burn TRM, mint TRA (only if deviation ≥ +threshold) valueUsd = trmIn × P_TRM × (1 − haircut) traOut = valueUsd × (1 − fee) Contraction — burn TRA, mint TRM (only if deviation ≤ −threshold) netUsd = traIn × (1 − fee) (TRA valued at the 1 USD target) trmOut = netUsd / (P_TRM × (1 + haircut)) Daily TRM mint cap maxMintTRM = min(alpha × S_TRM(day start), beta × executableLiquidityUSD / P_TRM) Supply identity, every period S(t+1) = S(t) + minted − burned

Parameters

Lab defaults from the specification (no deployment configured). Provisional: to be calibrated with the simulator.

Expansion threshold+0.50 %
Contraction threshold−0.50 %
Alert band
alert only, never a solvency signal
±2.00 %
Expansion halts at±5.00 %
Contraction halts at
emergency mode
−15.00 %
Conversion fee
hard maximum 1.00 %
0.30 %
Valuation haircut1.00 %
Alpha (daily TRM mint vs supply)1.00 %
Beta (daily TRM mint vs liquidity)50.00 %
Max single conversion vs liquidity25.00 %
Max oracle age1 h
Max liquidity-report age6 h
Minimum executable liquidity$100K
TRA mint cap per block / hour / day250K / 1M / 5M TRA
TRM mint cap per block / hour5M / 20M TRM

Conversion history

Expanded and Contracted events from ConversionModule.

No deployment configured

No Foundation deployment is configured for Ethereum (chain 1). Nothing on this page is invented: on-chain values appear only once real contract addresses are configured (see frontend/.env.example). Meanwhile, the Psychohistory Lab shows simulated behaviour, clearly labelled as such.

Risk and parameter events

Pauses, resumptions, parameter and guardian changes from RiskController.

No Foundation deployment is configured for Ethereum (chain 1).