The floor only goes up.
A fee on every $ETF swap, paid in ETH, buys a fixed basket of tokenized stocks. Fee buys step the floor up, burns leave it level, and no move in the mechanism points down.
The basket is fixed at deployment: 35 tokenized stocks held by an ownerless contract. Burning your $ETF tokens to the dead address pays your share of every position: one percent of circulating supply burned, one percent of each stock received.
The hook charges the fee in ETH on every buy and sell. Every six hours anyone can trigger an epoch: the treasury claims the ETH and buys the basket in equal slices, at most 0.1 ETH per stock.
| Treasury stocks, USD | 0.00 |
| Treasury USD, unconverted | 0.00 |
| Basket positions | 35 |
| Circulating $ETF | 1,000,000,000 |
| Floor price of $ETF, USD | $0.00 |
| AAPL | Apple | 0.00% |
| AMD | AMD | 0.00% |
| AMZN | Amazon | 0.00% |
| BB | Blackberry | 0.00% |
| COIN | Coinbase | 0.00% |
| COST | Costco | 0.00% |
| CRCL | Circle Internet Group | 0.00% |
| DJT | Trump Media & Technology Group | 0.00% |
burns $ETF to 0xdead: supply shrinks
receives a share of every stock
Every fee buy steps the floor up; burns leave it level.
Two moves exist. A fee purchase adds stocks to the treasury while circulating supply stands still: backing per token steps up. A burn removes stocks and circulating supply by the same fraction: backing per token holds exactly where it was.
Measured in what backs each token, the floor has one direction. A fee purchase adds stocks while circulating supply stands still: grow the treasury by one percent and the floor rises one percent. A burn removes stocks and supply by the same fraction: the floor holds exactly level.
The floor is not the market price. Trading sets the price on its own, and above the floor selling pays more than burning. The floor is the level underneath: if the price ever slips below it, burning pays more than the market does, and that trade closes the gap.