A coin backed by
US Treasuries.
Every trade of $TREASURY pays a small tax in USD1. Half buys tokenized T-bills that back the coin. Half is paid to holders every 40 minutes. No owner, on-chain.
The vault
US Treasuries held
—
Paid to holders
—
This period's coupon
—
Next payout in
—
Half of every tax dollar
becomes a Treasury bill.
The vault converts its half into cUSDO, a tokenized fund of short-term US Treasuries, and keeps it. Nobody can withdraw it. The only way value leaves is when a holder burns tokens and takes their share. The other half is paid out as a coupon, in USD1, every 40 minutes.
Every trade
buys and sells of $TREASURY
The vault
no owner, splits 50 / 50
US Treasuries
back the coin · burn to redeem
Coupon to holders
USD1, every 40 minutes
Buy 400 USD1 → $TREASURY
+6.00 USD1 tax · straight to the vault
Sell $TREASURY → 180 USD1
+2.70 USD1 tax · straight to the vault
Buy 1,200 USD1 → $TREASURY
+18.00 USD1 tax · straight to the vault
Tax flows in, all by itself
Flap collects the 1.5% tax on every buy and sell and sends it to the vault contract. No treasurer, no multisig, no trust required. The vault splits it the moment it arrives.
Coupon #142
401.20 USD1 · 312 holders
0x7f3a…9c2e
0xb41d…44d1
0x08aa…d2f0
Holders get paid, pro-rata
The coupon pot is sent as USD1 to every registered holder, weighted by balance. Straight to your wallet, every 40 minutes. Just hold.
Three things you can do.
Nothing you have to.
Buy and hold
Buy $TREASURY on Flap with USD1. The tax goes straight to the vault contract, no wallet in between. Your balance is registered for coupons automatically and counts from the next period.
Get paid every 40 minutes
When a period ends, its pot is split by balance and pushed to every holder's wallet in USD1. Nothing to claim. Sell below your registered balance and you forfeit your unpaid coupons to the holders who stayed.
Redeem any time
Burn tokens and receive your exact share of the Treasuries the vault holds. Own 1% of supply, burn it, get 1% of the pile. That is why the price has a floor.
The floor,
read from the chain.
Treasuries divided by circulating supply is what one token redeems for. It cannot go down from someone redeeming, and it goes up with every trade and every day of yield.
Your position.
Connect to see your coupons and what your tokens redeem for. Everything here is optional; the keeper does it for you.
Not launched yet
Once the token is live, this panel shows your balance, your coupons and what your tokens redeem for.
Locked at launch.
Two contracts, deployed once, with no owner, no upgrade path and no pause button. What you read on this page is what the code does, and nobody can change it.
50 / 50
of every tax dollar: Treasuries / coupons
40 min
coupon cadence, on-chain
The vault opens soon.
Buy, hold, get paid. Or burn and take your share. Your call, every 40 minutes.
Launching soon · follow on X