07 · Mechanics
Burn to redeem
Burn coins, receive the same share of the reserve.
redeem(amount) burns amount of the holder's coins and sends them their share of the reserve in SPYx.
redeem · the math
share = reserve × amount ÷ supply_before_burn // rounded down, raw units
// example
supply = 1,000,000,000 coins
reserve = 12.84 SPYx
burn = 10,000,000 coins (1%)
receive = 0.1284 SPYx
Why it is fair to everyone else
The burned coins leave the supply and the paid SPYx leaves the reserve in the same proportion, so the floor per coin for everyone who stays is unchanged. Rounding is always down, so the reserve never pays out more than it holds.
Fresh numbers
The Flisk page collects pending creator fees in the same transaction before redeeming, so you are paid from the full reserve, not from a stale balance.
⚠ burning is final
Burned coins are gone. If the market price is above the floor, selling usually returns more than redeeming. Compare before you burn.