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Redemption

Burning the claim for a proportional share of the Stockpile.

Redemption is the mechanism that gives vPILE a floor. Any holder can burn their tokens and receive their share of every asset leg in the Stockpile, less the configured redemption fee of 1.00%.

Arithmetic

ts
Requires live supply and Stockpile balances — not computable in preview
share      = burnedNet / vaultTokenSupply
legAmount  = share * vaultBalance[asset]   // per asset, in kind
burnedNet  = burned * (1 - redeemFee)

Settlement

  • Settlement is in kind: you receive the assets, not a cash equivalent
  • The redemption fee stays with the protocol and funds further acquisition
  • Redemption is permissionless — no queue, no desk, no approval