Vault
Your claim on the reserve.
Burn $BACKEDD to redeem a pro-rata share of the vault — BACKED plus any pending ETH — minus the redemption fee that stays behind and lifts the floor for everyone else.
Total reserve value
—
BACKED + pending ETH
BACKED in vault
—
—
Pending ETH
—
—
BACKEDD supply
—
Decreases on redeem
Redemption fee
5.00%
Stays in vault for remaining holders
How redeem works
Your share = (BACKEDD you burn) / (total supply). You receive that fraction of vault BACKED and pending ETH, minus the redemption fee. The fee stays in the vault and raises backing per remaining token.
Redeem BACKEDD
You burn
DBACKEDD
↓
You receive (est.)
BACKED0
ETH0.000000
Your share (gross)0 BACKED
Fee (5.00%) stays in vault0 BACKED
Connect wallet to redeem
Burns BACKEDD · pays BACKED + ETH from the vault