Documentation

How The Meme Treasury works.

The Meme Treasury lives on BNB Chain. 50/50 vault, 40-minute coupons, no owner. Tax in USD1. Backed by cUSDO.

BNB Chain

A meme coin with a Treasury floor. The vault buys cUSDO, tokenized short-term US Treasuries, and pays holders in USD1. Factory is live. Paste it as Custom vault on Flap (USD1, 1.5/1.5, Marketing 100%).

Overview

$TREASURY is a tax token launched through Flap. On BNB Chain every buy and sell pays 1.5% in USD1. That tax does not go to a wallet. It goes to a vault contract with no owner, which does two things with it, half and half:

1Half buys US Treasuries. The vault converts USD1 into cUSDO, tokenized short-term US Treasuries, and holds it. Nobody can withdraw it. Burn tokens and you receive your exact share. That is the floor under the price.
2Half is paid to holders. Every 40 minutes the coupon pot is split by balance and pushed to every registered holder's wallet in USD1. Nothing to claim. Sell, and you forfeit your unpaid coupons.

The yield the Treasuries earn is harvested and paid out as coupons too, so the principal stays intact and grows with every trade.

How the money moves

Trade on Flap

buy or sell $TREASURY

1.5% tax, USD1

Flap TaxProcessor

collects, then dispatches

dispatch

Vault

no owner · work() splits it

50%

Coupon pool

paid to holders in USD1, every 40 min

50%

US Treasuries (cUSDO)

USD1 → cUSDO, held. Burn tokens to redeem your share.

harvest()

anyone can call

yield above cost only

Coupon pool

the T-bill yield is paid out too; the principal stays

work(), harvest(), registerFor(), claimFor(), kick() and sweep() are all public. The keeper calls them so nobody has to, but anyone can, and the result is the same.

Coupons

The coupon pool runs in fixed 40-minute periods. USD1 arriving during a period is that period's pot. When the period ends, the pot is divided among registered holders in proportion to their registered balance.

·Registration is automatic. The keeper finds every buyer via Transfer events and calls registerFor. The contract reads your real balance on-chain. Your balance counts from the next period.
·Buying more re-registers the higher balance from the next period. Your old balance keeps earning meanwhile.
·Selling below your registered balance forfeits coupons you have not been paid yet. The keeper removes you (kick) and you are re-registered at your new balance if you still hold tokens. Forfeited shares roll into the current pot after 7 days.
·Payouts are pushed. After each period the keeper calls claimFor for every holder. You can also claim yourself on the position panel.

Redeem

redeem(amount) burns tokens and pays you amount ÷ circulating supply of the vault's cUSDO, plus the same share of any USD1 waiting as cash reserve. No tax, no slippage, no market in between. Circulating supply excludes tokens already burned.

Because redeem always pays book value, the token cannot trade meaningfully below it: if it did, buying and redeeming would be risk-free profit, and arbitrage closes the gap. Redeeming lowers your balance, which forfeits unpaid coupons. Claim first (the keeper normally already has).

Contracts

All on BNB Chain. Click a name to open it on BscScan; click an address to copy it.

$TREASURY tokenThe Meme Treasury

Flap V3 tax token on BNB Chain. 1.5% tax on buys and sells, collected in USD1. Fixed supply, no mint.

VaultThe Meme Treasury

Receives the tax. Splits it 50/50, buys cUSDO at fair value, holds it. Handles redeem and harvest. No owner.

Coupon poolThe Meme Treasury

Holds the coupon half, tracks registered balances per period, pays holders pro-rata in USD1. No owner.

Vault factoryThe Meme Treasury

Paste this on Flap as the custom vault factory. Deploys the vault and coupon pool when the token launches. No owner.

cUSDOexternal

OpenEden's tokenized short-term US Treasuries. What the vault holds.

USD1external

Quote and coupon currency. Tax is paid in USD1.

PancakeSwap V3 Routerexternal

Where the vault routes USD1 to USDC before buying cUSDO. Only when the price is within 0.5% of fair value.

Flap Portalexternal

Flap's launchpad and bonding curve on BNB Chain. Collects the tax and dispatches it to the vault.

Flap VaultPortalexternal

Calls the factory at launch and attaches the vault to the token.

Trade on Flap. Vault and pool source is verified after launch.

Parameters

ChainBNB Chain (56)

Tax1.5% on buys, 1.5% on sells, paid in USD1

Split50% Treasuries / 50% coupons, fixed

BackingcUSDO, tokenized short-term US Treasuries

Coupon period40 minutes, forever, paid in USD1

Sweepforfeited coupons unclaimed for 7 days roll into the current pot

Ownernone. No admin keys, no upgrades, no pause

The keeper

The keeper is a small bot that runs every two minutes. It spends only gas and cannot touch funds; every function it calls is public and does exactly the same thing no matter who calls it. If it stopped, anyone could run it, and holders could claim by hand.

·work() when new tax has arrived, or the cash reserve can be converted to cUSDO at a fair price.
·harvest() when the Treasuries have earned more than $5 above cost. The yield goes to the coupon pool.
·registerFor([...]) for every new buyer and every holder who bought more.
·claimFor([...]) after each period, pushing coupons to every registered holder.
·kick(user) for holders who sold below their registered balance.
·sweep(k) moving forfeited leftovers into the current pot after 7 days.

FAQ

Do I have to do anything to get coupons?+

No. When you buy, the keeper registers your balance within minutes. It counts from the next period. Coupons are pushed to your wallet in USD1 after each period ends.

What happens if I sell?+

Selling below your registered balance forfeits your unpaid coupons to the holders who stayed. Coupons for finished periods are usually already in your wallet, so in practice this only bites if you sell within minutes of a period ending. Selling part of your stack and staying above your registered balance is fine.

What if I buy more?+

The keeper re-registers the higher balance. It counts from the next period. Your old balance keeps earning meanwhile.

Where is the floor from?+

Treasuries held ÷ circulating supply. That is exactly what one token redeems for. Anyone can burn tokens and take that share straight from the vault, untaxed, with no market in between. If the token trades below it, buying and redeeming is free money, which is what keeps the price above it.

Who can touch the money?+

Nobody. The tax goes from Flap directly into the vault contract. The vault has no owner and no withdraw function. The only ways money leaves are: coupon payouts to holders and redeem by burning tokens.

Does the yield on the Treasuries go anywhere?+

Yes, when the backing asset pays yield. The vault sells only the yield above cost and sends it to the coupon pool, so holders receive it. The principal stays and keeps backing the coin.

Can the burn address or a DEX pair be registered to steal coupons?+

No. Third-party registration only accepts plain wallets. The zero and dead addresses, the token, the pool and Flap's Portal are always refused, and contracts cannot be registered by someone else. A Safe or smart wallet can still register itself.

What if cUSDO liquidity is thin?+

The vault never buys at a bad price. If the pool cannot fill near fair value, the USD1 waits as cash reserve and the vault retries later. That cash reserve is part of what you redeem for.

Risks

·Coupons depend on trading. No trades, no tax, no coupons. There is no guaranteed yield.
·The floor is not the price. Book value per token is what redeem pays. The market can trade above it by any amount, and that premium can go to zero.
·Third-party contracts. The vault relies on USD1, cUSDO and Flap. A failure in any of them affects the vault.
·Immutable means immutable. No owner can fix a bug, pause, or upgrade. The contracts were tested on a mainnet fork and in production, but audit-level assurance is not implied.
·Not affiliated. The Meme Treasury has no relation to the U.S. Treasury or OpenEden. Nothing here is financial advice.