01 Inspect the backing
02 Enter an amount
03 Redeem

The basket

“—” means not loaded. No illustrative backing is ever substituted on this page.


Redemption basis

your amount ÷ circulating supply × each vault balance, where circulating supply is the total supply minus the haul the mine has not paid out yet. Unmined tokens are owed to nobody, so they do not dilute a redeemer.

Two different burns

BurnWhat it does
Claim purchase70% destroyed, 25% to staked Barons, 5% operator. The vault is not touched.
Vault redemption100% destroyed, and the basket leaves with you.

Buying a claim does not redeem commodities to the buyer. It removes supply, which raises the quantity of basket every surviving token commands. That is a statement about units of metal — commodity prices can rise or fall.

Redeem $PROSPECT

Your balance
Circulating supply
Amount to burn
You receive
GLD
SLV
USO

The burn and the basket transfer execute in one transaction. A quote is read at a block and re-read before it is sent.

Where the metal comes from

The vault is funded from the launch, and anyone can add to it afterwards. There is no owner, no withdrawal path and no way to extend the asset list: the three addresses are burned into the contract at deploy.

Nothing can take assets out except a redemption, and a redemption always destroys the tokens it pays for.