BOND

Treasury Bonds: For each 5-day period, the Time-Weighted Average Price (TWAP) of a specified $PIKO LP is used as the Base Price. If the current price exceeds the Base Price * (1 + 10%), $USDT bonds are issued, allowing users to pay $USDT and obtain $PIKO at a discount. Conversely, if the price falls below the Base Price * (1 - 10%), $PIKO bonds are issued, enabling users to pay $PIKO and receive more $USDT in return.

Features

Period Duration

Each bond period lasts for 5 days.

Bond Price

The bond price is determined by the TWAP recorded at the beginning of each period.

Direction

• If the price rises above the Base Price * (1 + 10%), $USDT bonds are issued. This allows users to pay $USDT to acquire discounted $PIKO. In other words, this is equivalent to the Treasury selling $PIKO at a lower price.

• If the price falls below the Base Price * (1 - 10%), $PIKO bonds are issued. This enables users to pay $PIKO to obtain more $USDT. This is equivalent to the Treasury purchasing $PIKO at a higher price.

Quantity

The quantity of bonds issued is limited per period, equal to 10% of the overall Treasury balance.

Bond Release Time

Bonds are released linearly over a 5-day period.