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Treasury

Overview

The APDAO Treasury is a sophisticated smart contract that forms the backbone of our NFT collection's financial infrastructure. It serves two primary purposes:

  1. Managing the collection's backing value
  2. Providing loan functionality to NFT holders

The contract maintains a pool of WETH (Wrapped Ether) that determines the Real Floor Value (RFV) of the collection. Through its integration with the auction house, the treasury implements "up-only" technology for members - meaning every action, including loan defaults, increases the withdrawable backing for all other members.

Note: For a detailed technical explanation of our backing technology, see Beramarket's comprehensive analysis (link to be added).

Core Features

1. NFT-Backed Loans

  • Risk-free lending system using NFTs as collateral
  • Customizable loan terms
  • Protected by smart contract automation

2. Dynamic RFV System

  • Real-time calculation of collection's Real Floor Value
  • Transparent backing metrics
  • WETH-based treasury pool

3. Auction House Integration

  • Controlled redemption mechanisms
  • Synchronized with treasury operations
  • Optimized for value preservation

How It Works

Backing System

The treasury receives a continuous stream of backing through various DAO operations, ensuring steady growth of the collection's underlying value.

Loan Operations

  1. Taking Out Loans
    • NFT holders can use their tokens as collateral
    • Borrow against the treasury's backing
    • Flexible loan terms based on treasury parameters
  2. Loan Repayment
    • Users repay loans with predetermined interest
    • NFT collateral is returned upon full repayment
    • Interest contributes to overall treasury backing
  3. Expired Loan Settlement
    • Public function to settle expired loans
    • Automated adjustment of treasury backing
    • Contributes to collection-wide value appreciation

Treasury Growth Mechanism

Every interaction with the treasury, including:

  • Loan origination
  • Interest payments
  • Loan defaults
  • Auction proceedings

Results in an increase to the overall backing value available to remaining NFT holders.

Security

Audits

The Treasury contract has undergone thorough security review by the Pashov Audit Group. (Consider adding link to audit report when available)