Claim Token

vPILE exists to answer one question: what am I actually owed? It is minted only by wrapping PILE, and burned only by unwrapping or redeeming. Its supply is therefore a direct record of how much of the liquid supply has chosen the claim over the trade.

Properties

• —Minted 1:1 against wrapped PILE, less the wrap fee
• —Burnable for a pro-rata share of Stockpile assets
• —Transferable — the claim travels with the token
• —Intended collateral for the Phase II lending market

Claim mechanics

A holder's claim is their share of supply: burning `n` of a total supply `S` releases `n / S` of every asset leg in the Stockpile, less the redemption fee. Because the Stockpile only accumulates, that ratio can only improve per token over time.