Each GlazeCorp fund has a tradable fund token (Coin), an ownerless treasury, and contracts for mining, signaling and acquiring assets. Holding the token lets you burn it for a proportional share of the listed treasury assets.

The treasury is transparent, but its assets, liquidity and market value can change. Backing is not a guaranteed price floor or return.

The cycle

1. Mining brings in USDG. Each fund has exactly one Mine. A participant pays to take over the Mine and accrues new fund tokens until someone else takes it over. The outgoing miner receives an 80% claim on that next takeover payment. Team and protocol fees are deducted, and the remainder goes to the Mine's configured revenue destination.
2. Holders signal. Under the launch-time routing setup, USDG passes through ResonanceRouter into a seven-day Resonance stream. Holders escrow tokens to assign weight to asset strategies; in a manager-led fund, only its approved manager wallets can signal.
3. Auctions acquire assets. Each strategy sells its collected USDG in exchange for one chosen asset. The buyer's asset payment goes to the treasury after any configured signal reward share.
4. Withdrawal returns assets. A holder burns fund tokens and receives a proportional share of each listed treasury token.

A signal change affects future revenue. It does not sell existing holdings or rebalance the treasury to match the signal percentages.

Holding, selling and withdrawing

You can buy a fund token on its market without participating in mining or signaling. Its market price depends on trading liquidity and demand; its withdrawal value depends on treasury balances and effective token supply.

Sell to exchange tokens at the available market price, or withdraw to receive treasury assets in kind. A withdrawal accounts for mining emissions already accrued but not yet minted. It permanently forfeits your share of any asset left off the list for the tokens burned.

Premint and team allocation

Not every fund token is mined. Each launch mints tokens before mining starts:

• Pool tokens go into the fund's pool beside the team's deposit. That starting liquidity is locked forever, and buyers can buy these tokens out of the pool.
• The team allocation goes to the wallet that launches the fund, which pays nothing for it. It has no vesting or lockup, so the team can sell it or use it to withdraw a share of the treasury at any time.

GlazeCorp receives no fund tokens from a launch, unless it launches the fund itself. See Premint and team allocation for the limits and Before buying for how to check a fund.

What is fixed and what can change

After launch, which mints the seed liquidity and any team allocation, the Mine is the only source of new fund tokens. Its mining price decay, outgoing miner share and emission rules are fixed for that deployment. The treasury has no owner with a discretionary withdrawal function.

The team retains specific controls through FundController: strategies, metadata, team fees, trading-fee recipients, signal settings, and the destination of future mining revenue. The default router is bound to one Resonance, but the team can point future Mine payments elsewhere. Existing balances and positions do not move automatically.

Team and protocol mining fees are independent. Each defaults to 0.5% and can be set from 0.01% to 2% by its respective authority. At both defaults, a paid takeover with an outgoing miner and both recipients enabled allocates 80% to the miner, 19% to revenue, and 0.5% to each fee recipient.

Read Authority after launch for the exact controls and Security and audit for the reviewed scope.

Where to go next

• Using a fund: trading, withdrawal, mining and signaling.
• Running the fund: strategies, signaling and ongoing administration.
• Price and backing: how assets and token supply affect a holder's share.
• Risks and mechanics: the assumptions and failure cases to understand before participating.