RIBBIT (RBT)

Just saw that many people seems doesn't really understand on how @blackhaven works and operate.

→ BAM (Backing Arbitrage Module) is planned and may not be live at launch.

→ Until BAM is on, RBT can trade away from NAV with no automatic correction. Genesis trading = higher peg risk. Size positions accordingly.

→ Once BAM is live, NAV becomes an active anchor (mechanical floor/ceiling). Until then, it’s just a reference.

Two prices exist at once
- NAV: reserves ÷ circulating RBT (on-chain). “Collateral value.”
- Market price: what the RBT-USDm pool trades at.

They won’t usually match. BAM’s job is to shrink the gap. NAV moves only when reserves or supply change; market price moves with trades.

-

➠ When Market Price > NAV (premium):
- BAM sells RBT into the market.
- USDm from sales goes to reserves → NAV rises.
- Selling pressure pushes price down toward NAV.
- Bigger premium → bigger action (with cooldowns).

Net effect: the protocol issues into a premium, strengthens backing, and compresses the spread

Just saw that many people seems doesn't really understand on how @blackhaven works and operate.

→ BAM (Backing Arbitrage Module) is planned and may not be live at launch.

→ Until BAM is on, RBT can trade away from NAV with no automatic correction. Genesis trading = higher peg risk. Size positions accordingly.

→ Once BAM is live, NAV becomes an active anchor (mechanical floor/ceiling). Until then, it’s just a reference.

Two prices exist at once
- NAV: reserves ÷ circulating RBT (on-chain). “Collateral value.”
- Market price: what the RBT-USDm pool trades at.

They won’t usually match. BAM’s job is to shrink the gap. NAV moves only when reserves or supply change; market price moves with trades.

-

➠ When Market Price > NAV (premium):
- BAM sells RBT into the market.
- USDm from sales goes to reserves → NAV rises.
- Selling pressure pushes price down toward NAV.
- Bigger premium → bigger action (with cooldowns).

Net effect: the protocol issues into a premium, strengthens backing, and compresses the spread

Just saw that many people seems doesn't really understand on how @blackhaven works and operate.

→ BAM (Backing Arbitrage Module) is planned and may not be live at launch.

→ Until BAM is on, RBT can trade away from NAV with no automatic correction. Genesis trading = higher peg risk. Size positions accordingly.

→ Once BAM is live, NAV becomes an active anchor (mechanical floor/ceiling). Until then, it’s just a reference.

Two prices exist at once
- NAV: reserves ÷ circulating RBT (on-chain). “Collateral value.”
- Market price: what the RBT-USDm pool trades at.

They won’t usually match. BAM’s job is to shrink the gap. NAV moves only when reserves or supply change; market price moves with trades.

-

➠ When Market Price > NAV (premium):
- BAM sells RBT into the market.
- USDm from sales goes to reserves → NAV rises.
- Selling pressure pushes price down toward NAV.
- Bigger premium → bigger action (with cooldowns).

Net effect: the protocol issues into a premium, strengthens backing, and compresses the spread