~0.05% goes to swap fees, the rest is farmed in the CASH farming treasury
5% of all daily rebases from CASH held in wallets is retained for reinvestment into CASH farming treasury
10% of Satin DEX trading fees are sold for stables and added to CASH farming treasury
5% of CASH rebases in Satin DEX LPs sent to CASH farming treasury
What does this accomplish?
There are more stablecoins in the CASH farming treasury than there is CASH in circulation
As people enter and exit CASH, and as daily rebases accrue, the proportion of stablecoins to CASH (the Capital Efficiency Index) grows, with the growth being permanent
Each CASH token has more than $1 of capital farming for it
CASH is forever, organically overcollateralized, acting as a natural insurance policy in the event of a loss of funds
Over time the CE index will only grow, making each CASH token more capital efficient and bringing in higher yields with more security after every rebase, mint, and withdrawal
CASH Capital Efficiency Index:
Encourages long-term holding in a wallet or treasury:
The same number of CASH tokens will perpetually produce more yield and have a greater collateralization ratio for safety (but every rebase you will receive more CASH tokens too)
Yield will perpetually grow, from a relative standpoint. This reduces the need to "chase yields" in less-than-stellar strategies and protocols, trying to get the highest yields. Each token has more capital behind it, allowing us to invest conservatively.
Why is this valuable for Satin DEX?
A portion of CASH rebases in Satin LPs are used to auto-bribe that LP. As CASH increases in CE, yields will increase, causing increased autobribes (and likely TVL), which will increase CASH rebases, etc. A positive feedback loop is established between CASH and Satin DEX, to the benefit of all.