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Documentation index

Getting started · 00

Protocol documentation

Structure of the documentation, current protocol metrics and the data-provenance conventions.

Current metrics

Guaranteed floor (Burn Vault Boost)53,680 sats~US$ 46.26
On-chainVerify
Base floor (Core)2,113 sats
Computed liveVerify
wBTC in the backing (Core + Boost)420.25 wBTC
On-chainVerify
EVA in circulation18,113,917 EVA
On-chain
EVA already burned2,886,083 EVA
On-chain

The protocol maintains two floors, one per vault. The Guaranteed floor (Burn Vault Boost) concentrates backing in a limited quota of EVA and sets the guaranteed floor, the main value shown on the site. The Base floor (Core) splits the backing across the entire supply and sets the base floor, which applies to any EVA. The mechanics of both contracts are described in Burn Vault.

Documentation structure

Getting started

01IntroductionDefinition of the token, the problem the protocol sets out to solve and the core properties of the design.02How it worksThe operating cycle: Bitcoin mining, daily deposits into the vaults, floor recalculation and redemption via contract.

Mechanism

03Burn VaultThe wBTC vaults that define the floor: Burn Price mechanics, withdrawal restrictions and how the Boost works.04Mathematical modelFormal definition of the Burn Price, monotonicity proof, break-even and the relationship between the floor and the market price.

Verification

05TransparencyWhich protocol data is public, the independent verification procedure and the provenance classification of the numbers displayed.06Security and auditsSecurity properties of the contracts, the scope of the Hacken and CertiK audits and external dependencies.07RisksRisk factors outside the guarantees of the code: Bitcoin volatility, wBTC dependency, the mining operation and regulation.08ContractsAddresses of the protocol contracts on Arbitrum and instructions for reading the data on Arbiscan.

Reading order and conventions

For a first read, follow the order Introduction, How it works and Burn Vault. To verify the protocol’s properties independently, consult the Mathematical model and the addresses listed in Contracts.

Every number on these pages carries a provenance label that identifies its source: On-chain (read directly from the blockchain), Computed live (derived from on-chain data via the formula), or Live from the pool (read from the mining pool’s public watcher). Each label is defined in Transparency.

Found something incorrect or outdated? Let us know on Telegram or check the data directly in the contracts.